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I do not see the general economy as improving, but other than not getting any pay raises the past few years, it really hasn't affected me or my standard-of-living. The only real tangible change I've made is that I'm concentrating on paying off my debts instead of buying stuff I don't really need.
Right, and had you gotten the pay raise you deserved in the last few years, you would have more money to spend....out in the economy. The bills you are paying, the retailers already got that money, you're just paying off the debt. It may not affect you, personally, but it is affecting those places where you could have been spending that extra money you made.
Well, I actually did not want Obama “to be elected in 2008, because prior to the Great Recession I had predicted, from my own knowledge of economics, that there would be a collapse and I did not want there to be a black president in office for America to blame it on.
That having been said, the collapse has not happened to the degree that I anticipated that it would. Instead of a collapse, it’s slowly “crumbling”. The main reason is that the dollar has not collapsed like I thought it would, but that has largely been the result of its main competitor’s economies being in worse shape, which made the dollar more buoyant than I had anticipated.
It also seems that the world is propping up the US economy because they realize that If we go down that the world goes down with it. I still think that a complete collapse has about a 50/50 chance in the next 5 years, however. Something will trigger it though….a major terrorist attack and or a major war.
Right, and had you gotten the pay raise you deserved in the last few years, you would have more money to spend....out in the economy. The bills you are paying, the retailers already got that money, you're just paying off the debt. It may not affect you, personally, but it is affecting those places where you could have been spending that extra money you made.
You're correct! Nobody received a pay raise the past four years at my employer, (just over 5,000 employees). And as I only have a couple more years before retirement, it is good that I pay off all my credit cards. There is only one more left. I still spend, but if I can't pay cash...I wait until I can.
Our economy will not recover fully until the nation's consumers start spending again. Sadly, hours are being cut, wages have not increased much, most everybody is struggling just to maintain their stardard-of-living that they have developed. In the past, (before the turn of the century), politicians have kick-started the economy through tax cuts. That's not really an option anymore.
It will be interesting to see what type of Christmas retail season this year will be. To date, the projections are for a good retail season. But, that was before sticker-shock from the new national health system. The next few months will be very interesting.
Well, I actually did not want Obama “to be elected in 2008, because prior to the Great Recession I had predicted, from my own knowledge of economics, that there would be a collapse and I did not want there to be a black president in office for America to blame it on.
That having been said, the collapse has not happened to the degree that I anticipated that it would. Instead of a collapse, it’s slowly “crumbling”. The main reason is that the dollar has not collapsed like I thought it would, but that has largely been the result of its main competitor’s economies being in worse shape, which made the dollar more buoyant than I had anticipated.
It also seems that the world is propping up the US economy because they realize that If we go down that the world goes down with it. I still think that a complete collapse has about a 50/50 chance in the next 5 years, however. Something will trigger it though….a major terrorist attack and or a major war.
Very insightful. However, I don't expect Obama to get too much of the blame. The slide started under the previous administration. But, I don't believe the current administration has instituted policies to really help a recovery. Financially, this country is just treading water right now.
Do you believe that the unemployment numbers are being cooked?
Do you believe the economy will be help or harmed by Obamacare and his polices?
First, if Bernanke stopped pumping $85 billion a moth into this faux stock market it would fall like a rock and correct itself.
Second, the labor participation rate is very low, part-time jobs are about all we have going. The economy and labor force are so bad, that even the U6 unemployment numbers are not able to reflect how bad things are.
First, if Bernanke stopped pumping $85 billion a moth into this faux stock market it would fall like a rock and correct itself...
That's right! It's not Bush's fault. Nor Obama's, or the congress. Bernanke has destroyed the future of this country. It is good that he'll be gone soon.wil
If we were recovering - we wouldn't have INCREASED QE Economic Stimulus every single year under Obama and currently be at a record $85,000,000,000.00 in new money creation EVERY MONTH.
This has artificially propped up the stock market, housing sales (via low interest rates) and kept the national deficit reduced (via low interest rates)...once the printing press has to shut off - what will happen?
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Do you believe that the Economy is improving?
