NationStates Jolt Archive


But, we're in an economic recovery, aren't we?

Drunk commies reborn
12-05-2005, 16:47
Apparently a rising tide doesn't lift all boats. Even though we Americans have been assured that the economy is getting better, it seems it's only getting better for those who own lots of stock or real estate. Those of us who have to work for a living are screwed.

http://news.ft.com/cms/s/f269a8f4-c173-11d9-943f-00000e2511c8.html
Occidio Multus
12-05-2005, 17:20
you never know who to believe, as the rich are always rich, and the poor usually stay that way.


post script- i have a post for you to read in that strangevideos post regarding the link you posted.....
Quagmir
12-05-2005, 17:29
War is expensive
Robbopolis
12-05-2005, 22:06
Meh, I'm not worried. Give it another year or so to kick in. It usually takes wages a few months to catch up to prices.

On a side note, I once saw a table which listed all of the economic booms and busts for the last century or so and some statistics about each. The funny thing about it was that every time that the economy got better, the rich/poor gap got bigger, and it got smaller everytime the economy tanked.
Perezuela
12-05-2005, 22:09
War is expensive
To some, war is profit.
La Habana Cuba
13-05-2005, 05:39
I Own 3 houses one bought and paid for, the others on
13 year mortgages giving me a good cash flow income,
plus my job, not bad for a cuban immigrant.
Viva The USA.
La Habana Cuba
13-05-2005, 05:47
And I am in the market to buy a 4 th house.
Afghregastan
13-05-2005, 05:49
Meh, I'm not worried. Give it another year or so to kick in. It usually takes wages a few months to catch up to prices.

On a side note, I once saw a table which listed all of the economic booms and busts for the last century or so and some statistics about each. The funny thing about it was that every time that the economy got better, the rich/poor gap got bigger, and it got smaller everytime the economy tanked.

That could mean a lot of things. Here's one: When economists discuss 'the economy' they are talking about the income of the wealthy.

Another one: When the going get's tough the poor get organised. They demand better conditions from the gov't (OSHA, Social Security, weekends &tc.) the wealthy get taxed, you get the idea.
Show Choir Realm
13-05-2005, 05:53
Nope. Economists usually look at GDP as a whole, as well as unemployment and supply and demand for a random basket of goods.
Niccolo Medici
13-05-2005, 06:52
Macro economic data is utterly unreliable. The same data is often used to "prove" contradictory statements. Going by anecdotal standards is just about as effective in taking the pulse of the nation.

Right now everyone I know personally in the US is complaining that they dont' get enough pay, hours, or benifits to make ends meet. Right across the board, people either are underworked, underpaid, or under-compensated, and are feeling the strain.

No one is talking to me about having enough money to expand, no one is talking about being able to pay for extra things in life. Right now the lucky ones can make it from month to month without incurring debts, and there aren't that many lucky ones.

As far as anecdotal data goes, I'd say our local economy is in a serious slump. Those few I know outside the state however are also in a slump. Any signs of recovery are hidden by rising prices of goods and services.