The government says the economy is great - do you believe this? (Corporate Profit, money)

[TriMT7]

The economy is great! Sales of homes over 6 million dollars on Palm Beach are as brisk as ever! The seasonal influx of Rolls Royces, Bentleys, Aston Martins continue around these parts. Why on earth would we think the economy is circling the drain when it appears that so many of the rich - the beautiful rich who are gracious enough to allow us to work for them - seem to have so much more than they had last year... and the year before that, and the year before that.

Don't know about Main Street, but times are good on Worth Avenue.

[ontheroad]

I don't need to see economic figures to know that the "economy sucks." I just have to look at the lean faces of my neighbours; the struggles people make in the super-market about what to buy, and how to save; the house fixing tasks folks are forgoing; the old jacket on a cold boy's face and his ungloved paws....we ain't a good economy, but we are real good at looking large.

[18Montclair]

In some ways I do.

The Bay Area economy has been performing very well for a few years now, after a very hard 5 years of dot-com destruction.

Our major concern now is the housing meltdown but we are faring a lot better then many places. Still, its not good for the overall economy.

[Yeledaf]

Originally Posted by katzenfreund

Yes, the economy looks bright indeed, if you have petroleum stocks or defense stocks, otherwise, no. The good times are OVER.

I'm sorry, but that is an absurd statement.

Hillary is going to make everything better.

[Yeledaf]

Originally Posted by ontheroad

I don't need to see economic figures to know that the "economy sucks." I just have to look at the lean faces of my neighbours; the struggles people make in the super-market about what to buy, and how to save; the house fixing tasks folks are forgoing; the old jacket on a cold boy's face and his ungloved paws....we ain't a good economy, but we are real good at looking large.

My goodness, where do you live? Widespread starvation? No winter clothing?

Confess, now....you just finished Oliver Twist.

[katzenfreund]

Originally Posted by Yeledaf

I'm sorry, but that is an absurd statement.

Hillary is going to make everything better.

If you say so!

Actually she is near the bottom of my list of candidates. Just another corporate mouthpiece.

So, what is absurd about my statement?
Are you denying that the oil industry and the defense industry are making fat profits?

[ontheroad]

Nope! I live right here in the 21st century in farm and hill land. Folks are struggling here; barns abandoned; and houses getting to look tired.

Now, Oliver Twist, he's another boy without mittens, ain't he?

Originally Posted by Yeledaf

My goodness, where do you live? Widespread starvation? No winter clothing?

Confess, now....you just finished Oliver Twist.

[TnHilltopper]

Wall Street firms see recession.
Wall Street firms see recession nearing | Reuters
By John Poirier

NEW YORK (Reuters) - The economy might be edging toward a recession in the wake of mortgage-related credit woes plaguing the financial markets, bankers and analysts said on Monday.
Moderator cut: copyrighted article

Homes brace for heating oil highs - Yahoo! News (broken link)

[katzenfreund]

OTR, are you in New England? I just read an article on the impact of the high cost of heating oil and it will have on this region. Lots of people will have to make a choice between food, heat, gas for their car and medical care. Looks like it will be grim winter for many folks.

[katzenfreund]

Final note... America, when in doubt go shopping - G W Bush

that says it all, doesn't it?
too bad people spent more than they could afford and now the house of cards is collapsing.