Originally Posted By Darkbeer <a href="http://www.breitbart.com/news/2006/09/28/D8KE19EG0.html" target="_blank">http://www.breitbart.com/news/ 2006/09/28/D8KE19EG0.html</a> <a href="http://www.breitbart.com/news/2006/09/28/D8KDS6M80.html" target="_blank">http://www.breitbart.com/news/ 2006/09/28/D8KDS6M80.html</a> <a href="http://news.bbc.co.uk/2/hi/business/5385508.stm" target="_blank">http://news.bbc.co.uk/2/hi/bus iness/5385508.stm</a> <a href="http://www.themountainmail.com/main.asp?SectionID=19&SubSectionID=75&ArticleID=9055" target="_blank">http://www.themountainmail.com /main.asp?SectionID=19&SubSectionID=75&ArticleID=9055</a> <a href="http://www.marketwatch.com/news/story/Story.aspx?guid=" target="_blank">http://www.marketwatch.com/new s/story/Story.aspx?guid=</a>%7B67D7D42F-41F0-4119-B901-306BE150BA39%7D&siteid= So the Dow is at an all time High The Ecomomy grew at a 2.6% rate Housing starts are up 4.1% Gas Prices are dropping Consumer confidence index increases to 104.5 from 99.6 Things are looking better for the Republicans in the November elections.....
Originally Posted By vbdad55 Someone please get me an email list of the 10M people whose jobs have been off shored in the last 7 years so I can let them all know the good news. I can start with the 100,000 people leaving at Ford and GM... While I appreciate the fact that there are some items are going well, and yes I acknowledge there are, I just hope this rose colored glass picture that life for the middle class has never been better doesn't get over played....yet I believe that has already started energy costs ( when I see my natural gas budget go from $100 a month 3 years ago to $310 now ) - the quality of the job market in America ( not quantity as we count all those service industry jobs at Wal Mart et al ) , and health care costs - need to be actually addressed, and soon.
Originally Posted By DouglasDubh <I just hope this rose colored glass picture that life for the middle class has never been better doesn't get over played....> I don't see where anyone has said this. But things definitely aren't bad.
Originally Posted By Kar2oonMan >>But things definitely aren't bad.<< 'Definitely'? 'Bad'? How can we subjectively measure such things?
Originally Posted By vbdad55 <I don't see where anyone has said this. But things definitely aren't bad.< oh I don't know - how about some posts here about " the economy is sizzling". Again, I just feel those 3 items need immediate attention or they will have an even larger effect on the overall economy than they do today. I agree the economy is not bad, but lurking under the DOW number, are these very significant issues...
Originally Posted By DlandJB Ah, but don't most of the dips in the stock market take place in October? (Black Monday in 1987 and Black Tuesday in 1929?) I'm holding my breath until we are into the Holiday season.
Originally Posted By SingleParkPassholder Once these layoffs hit and the fallout is felt in the respective communities, then let's see what the outlook is like. People lose jobs, they then lose their homes, cars, health benefits, banks lose money from savings, families leave the area, they often divorce and the kids are affected, crime rises, etc etc. With the massive amounts of layoffs coming, especially in the middle west, there's no way there won't be negative that are felt by everyone. And, you can't seriously tell a 53 year old guy who has been an automotive designer/engineer for the last 25-30 that he can still make a living by aggressively selling Amway door to door. That's just asinine. There are too many professionals that are going to be affected by this who are really going to be in a bind.
Originally Posted By fkurucz >>I agree the economy is not bad, but lurking under the DOW number, are these very significant issues...<< Actually, the DOW can thrive under certain types of bad news. A slowing economy usually indicates lower inflation and lower interest rates, which tend to drive to stock market up. Also, the GDP growth rate of 2.6% was a downward revision, so the economy is actually softening. There is concern in some quarters that a recession is looming: <a href="http://money.cnn.com/2006/09/28/news/economy/bumpy_landing/index.htm?postversion=2006092817" target="_blank">http://money.cnn.com/2006/09/2 8/news/economy/bumpy_landing/index.htm?postversion=2006092817</a>
Originally Posted By fkurucz >>A slowing economy usually indicates lower inflation and lower interest rates, which tend to drive to stock market up.<< Actually, I meant to say "leads to" as opposed to "indicates".
Originally Posted By DouglasDubh <'Definitely'? 'Bad'?> Okay, you got me. I shouldn't say there "definitely" not bad, because it's subjective. How about, "The economy cannot be considered bad by any reasonable measure"?
Originally Posted By fkurucz >>But things definitely aren't bad.<< Let's see: 1) National savings rate is negative for the first time since the Great Depression. 2) The annual trade deficit is approaching the 1 trillion $ mark. 3) The exodus of high paying jobs to offshore locales is increasing. 4) Middle class wages aren't keeping pace with inflation. 5) The housing bubble is in process of popping. I agree it could be worse: we could be unable to create even menial jobs (like during the depression).
Originally Posted By DouglasDubh <1) National savings rate is negative for the first time since the Great Depression. 2) The annual trade deficit is approaching the 1 trillion $ mark. 3) The exodus of high paying jobs to offshore locales is increasing. 4) Middle class wages aren't keeping pace with inflation. 5) The housing bubble is in process of popping.> Some of those things are subjective opinions, and others aren't indicative of a "bad" economy.
Originally Posted By patrickegan Well, two immediate solutions would be to stop buying foreign goods and stop doing business with companies or persons that use illegal labor.
Originally Posted By fkurucz >>Some of those things are subjective opinions, and others aren't indicative of a "bad" economy.<< I'll guess that we''l just have to disagree. Anyway, just because an economy is growing, doesn't mean that its "good". The economy in the late 20's also appeared to be "sizzling" but it was a sham, and it took over 15 years to recover from the depression that followed it.
Originally Posted By fkurucz >>Well, two immediate solutions would be to stop buying foreign goods<< That choice could be made for us by our foreign creditors. If they lose faith in our ability to pay them back, the foreign credit spigot, along with the flow of cheap imported goods, could be dramatically reduced. I can begin to imagine the IMF and World Bank making demands on the US before restructuring its foreign debt.
Originally Posted By mrichmondj So, we are celebrating the fact that the Dow Jones is breaking a high that it set 6 years ago? If you invested in the Dow Jones in 2000, you are just now getting above the break even point! Let's pop the corks on the champagne! In contrast, if you had invested in oil companies and defense contractors in 2000, you would have a lot more to celebrate than if you mistakenly invested in the U.S. economy in general. Hooray for the Texas oil men and military-industrial complex!
Originally Posted By vbdad55 <So, we are celebrating the fact that the Dow Jones is breaking a high that it set 6 years ago? If you invested in the Dow Jones in 2000, you are just now getting above the break even point! Let's pop the corks on the champagne! < better than my return on Disney stock bought 7 years ago - bought at $109 ( $36.33 after 3:1 split) - and I am still down 12%
Originally Posted By jonvn "In contrast, if you had invested in oil companies and defense contractors in 2000" Actually, I have. Worked out well for me.
