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The misunderstood economy...(my opinion)

Discussion in 'BBS Hangout: Debate & Discussion' started by ROXRAN, Jul 22, 2007.

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  1. ROXRAN

    ROXRAN Member

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    I thought about the rhetorical question again as I made plans to add a multi-color slate tile patio area in the backyard tied to a new deck fence...Are you better off than you were 4 years ago?

    The answer seems to be yes,...again.

    I suddenly realize something is going on, and I can't put my finger on it...In the business I am in, I see more people spending money...My wife got a substantial bonus due to her companys expansion in printing production. My incentive pay has gone up...Why?

    I am not doing anything different,...I did not finish my M.B.A., ...so why?

    The thing I noticed is it has been gradual,... and while I realize the turmoil on international affairs has been heightened, so has a buildup on what I can't help but see as "something going on"...something that has almost made the inner turmoil in this country (not that long ago) regarding the economy and growth improved...

    For example, In the middle TN. area, growth, new construction, and more consumer spending is unprecedented, just by what I see...

    Unfortunately, I don't have hard data and a slideshow to present, but I ponder if this is an aspect you have noticed, and why?...
     
  2. Mr. Clutch

    Mr. Clutch Member

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    Well, I am better of.

    But my concern is that this is a bubble.

    Particularly because of increasing inflation, the falling dollar, and the eroded manufacturing base in this country,
     
  3. thegary

    thegary Member

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    i'm quite a lot better off than i was four years ago. and i owe it all to george bush, the decider and economical wizard.
     
  4. ROXRAN

    ROXRAN Member

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    Good points on concern...
     
  5. ROXRAN

    ROXRAN Member

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    You know you can't blame it on Bush this time,...but why? Is the economy so far removed from the influence of a standing President on his second term, or is this a farce...a bubble waiting to pop because of specific concerns...

    Could it be the less regulation, the better? Could it be that Corporations can be good to the chagrin of the left?

    If anything Bush has done right regarding influencing the economy is NOT?....
     
  6. Mr. Clutch

    Mr. Clutch Member

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    Gotta give Bush credit for the tax cuts that fueld growth. No doubt about that one.

    Now about extending the cuts....or at least simplifying the tax codes with new cuts and eliminiation of the AMT...that should be done.
     
  7. ghettocheeze

    ghettocheeze Member

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    I don't know about you, praise whoever you want but I will take the time to thank a company for making me a ton of money.

    1) Apple - Yep the biggest sweetest comeback in modern history. My grand kids will thank you for sending them to college. Heck even I am in college right now thanks to you and I will be a senior this fall. Anyway back in 2002 when most people had you dead and written off for good, I bought your stock for around $7.50 and now your have reached $143.75. A whopping 1800% increase. All this because I bought an Ipod back in 2002 and thought it was the best thing since sliced bread. I had no investment or stock market experience at all. Funny that I was only a sophomore in high school and convinced my mom to spend her entire life savings on this stock I thought was going to comeback from the dead.
    Well 5 years later and on the verge of the Iphone craze, Apple's stock continues to rise and has already climbed $60 in the last 4 months alone.

    So in 4 or 5 years the world has changed for me thanks to Apple it's miracle comeback.
     
  8. geeimsobored

    geeimsobored Member

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    Highlighting personal experience on a board that's not universally representative of all people on the economic spectrum seems rather silly.

    Case in point, my dad's business got hurt by the tech bubble (and hurt pretty significantly since a lot of his business is dependant on it) And at the same time, he was helped by the fact that the decline of manufacturing and other industries meant more people seeking job training (which he does for various IT fields)

    He's been helped and hurt by the economy. The last few years have been better but a few years ago it was absolutely brutal to hear some of the stories of people who lost their jobs. It hasn't been clear sailing during these few years by any stretch and its silly to base a conclusion on American economic policy based on a few testimonials here.
     
  9. Ottomaton

    Ottomaton Member
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    I wouldn't put it quite this way, but my first thought was that making extrapolations to the wider economy on one data point is probably not valid.
     
  10. weslinder

    weslinder Member

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    I work in the chemical industry in the Sunbelt, so I think this is an incredible economy. I'm sorry for anyone who does old-tech manufacturing in the rustbelt.
     
  11. haven

    haven Member

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    I'm much better off than I was four years ago. My wife and I are now in the highest tax bracket.

    Oh, yeah, I forgot: we also graduated from law school and got our first real jobs during that timeframe. Praise Bush for his many blessings, etc.
     
  12. GladiatoRowdy

    GladiatoRowdy Member

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    I still make only 66% of what I made in 2001.
     
  13. El_Conquistador

    El_Conquistador King of the D&D, The Legend, #1 Ranking

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    Nothing is misunderstood about this economy if you stay on top of financial markets, news, etc. The economy is BOOMING. Yeah, sure there are those who haven't kept pace, nothing new there, but those that have continued to evolve, work hard, and be opportunistic have been rewarded in grand fashion.

    The only people misunderstanding it are the liberals who are negative about every aspect of the country, so discount their comments accordingly.
     
  14. No Worries

    No Worries Member

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    ... just don't take your mega $$$s abroad on a spending spree or you might get *ss pounded but for good.

    Should we thank King W for the weak *ss dollar as well? or how about all of that deficit spending we have been doing?
     
  15. jo mama

    jo mama Member

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    why is our dollar going down the toilet?
     
  16. deepblue

    deepblue Member

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    Think the original idea of this thread is are you better off today than you were four years ago. I am pretty sure most Americans live IN the US.
     
  17. No Worries

    No Worries Member

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    and we also live in a global economy.

    My family makes more money (US $$$s) but we can afford fewer Mercedes. Grok?
     
  18. deepblue

    deepblue Member

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    Unlikely, if you make more money, then you should will be able to afford more Mercedes. The car prices do not fluctuate the same way as the currency exchange rate. Big car company usually buys hedges/swaps in advance to protect them specifically for this. Just because USD dropped 2% this week, doesn't mean that Mercedes is going to cost you 2% more.
     
  19. adoo

    adoo Member

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    how about elimiating the tax haven that enables congloemerates such as Haliburton, Accenture, Tyco, etc. to set up a offshore offices in order to excape US taxation. ?

    when these multi-billion corporations pay taxes, the tax burden on the middle class is lessen
     
  20. gifford1967

    gifford1967 Member
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    The simple fact is that under Bush, most people have not prospered. When you adjust for inflation the household median AND mean income was lower in 2005 than in 2000. To see this look at the 2005 dollars (inflation adjusted) columns below.


    Table H-6. Regions--All Races by Median and Mean Income:
    1975 to 2005

    (Households as of March of the following year. Income in current
    and 2005 CPI-U-RS adjusted dollars28/)
    _________________________________________________________________
    Median income Mean income
    Region ___________________ ___________________
    and Number Current 2005 Current 2005
    year (thous.) dollars dollars dollars dollars
    _________________________________________________________________

    UNITED STATES
    2005 114,384 $46,326 $46,326 $63,344 $63,344
    2004 35/ 113,343 44,334 45,817 60,466 62,488
    2003 112,000 43,318 45,970 59,067 62,683
    2002 111,278 42,409 46,036 57,852 62,800
    2001 109,297 42,228 46,569 58,208 64,191
    2000 30/ 108,209 41,990 47,599 57,135 64,767


    http://www.census.gov/hhes/www/income/histinc/h06ar.html

    Edit- Formatting didn't work. Go to the link to see the table.
     

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