NationStates Jolt Archive

http://articles.news.aol.com/business/_a/economy-slows-to-16-percent-pace/20061027083509990010?cid=403

This certainly isn't good news though I think the economy is still strong thanks to the tax cuts and with the dow over 12,000. But I'm sure the dems and liberals will try to spin this to make it look like its the republicans fault in this election season.

http://articles.news.aol.com/business/_a/economy-slows-to-16-percent-pace/20061027083509990010?cid=403

This certainly isn't good news though I think the economy is still strong thanks to the tax cuts and with the dow over 12,000. But I'm sure the dems and liberals will try to spin this to make it look like its the republicans fault in this election season.

Sorry, but the truth hurts. It is the republicans' fault. The economy is not strong. If real unemployment is at 10%, and real wages are declining, the economy is not strong.

Sorry, but the truth hurts. It is the republicans' fault. The economy is not strong. If real unemployment is at 10%, and real wages are declining, the economy is not strong.

Real employment is always high; I mean, in 2000 it was at 6.5% and the economy was clearly very strong despite such a high rate. But then again, real wages were also flat during the 90's, so it might not be far off. Some good news, however, is that real wages have started rising again which means improvements for the lower end of the employment spectrum in the next year or so.

It's probably more accurate to say the economy is strong for some people, but it gets worse and worse the farther you go down.

Even so, 1.6% isn't that bad; I mean, it's not a recession and payrolls aren't contracting, so I wouldn't read too much in to it. The housing market's decline has stabilized somewhat in recent months, so stabilization might buffer GDP going in the 2007. If growth dips negative, then we've got a problem but for now I'm not concerned.

http://articles.news.aol.com/business/_a/economy-slows-to-16-percent-pace/20061027083509990010?cid=403

This certainly isn't good news though I think the economy is still strong thanks to the tax cuts and with the dow over 12,000. But I'm sure the dems and liberals will try to spin this to make it look like its the republicans fault in this election season.

Yup, that's just like us devious little liberals. We point to the bad results of the politicians' bad programs and then try to make it sound like one has something to do with the other. We completly ignore the fact that politicians are only responsible for the economy when good things happen to it and they are republicans. When bad things happen to the economy it's because politicians have nothing to do with the economy. Yes, the conservatives campaign on their plans for economic reform, but that's because if it improves it will have been because of the Republicans.

Right?

Riiiiiight. :rolleyes:

The housing market's decline has stabilized somewhat in recent months, so stabilization might buffer GDP going in the 2007.

:confused:


New home price plunge biggest since '70
Prices post nearly a 10% decline from a year earlier and more than 15% from peak; lower prices lift September sales 5.3%.
By Chris Isidore, CNNMoney.com senior writer
October 26 2006: 4:47 PM EDT


NEW YORK (CNNMoney.com) -- New home prices took their biggest hit in more than 35 years in September, the government said Thursday, the latest sign that builders are struggling to unload a glut of unsold homes as the nation's real estate market cools.
http://money.cnn.com/2006/10/26/news/economy/newhomes/index.htm

http://articles.news.aol.com/business/_a/economy-slows-to-16-percent-pace/20061027083509990010?cid=403

This certainly isn't good news though I think the economy is still strong thanks to the tax cuts and with the dow over 12,000. But I'm sure the dems and liberals will try to spin this to make it look like its the republicans fault in this election season.

More illegal immigrants needed.

http://articles.news.aol.com/business/_a/economy-slows-to-16-percent-pace/20061027083509990010?cid=403

This certainly isn't good news though I think the economy is still strong thanks to the tax cuts and with the dow over 12,000. But I'm sure the dems and liberals will try to spin this to make it look like its the republicans fault in this election season.


explain consumer confidence and the high dow

:confused:

Sales, new housing starts and inventory have stabilized, not prices.

That could be a sign that the market has completed its correction and prices will fall until they reach a level that's in equilibrium with starts, existing sales, and inventories. Even though inventories have stabilized, there's still the problem of being a lot of houses on the market; that's probably what's causing the price decline.

explain consumer confidence and the high dow

Remember, corporate profits are above expectations, energy prices are down and the job market is healthy, and wages/salaries are seeing the first significant real gains since 2000 or so. That's pushing up confidence, along with the falling debt-to-income burden as evidenced by consumer credit information. The situation of the average person has improved, and that's boosting confidence.

GDP is a rough, and increasingly dated, indicator of the US economy; if the job market is healthy and wages are in good shape, people are going to have a positive view of the economy even if GDP growth comes in weak. After all, it's your paycheck that matters most of all...that's the economic indicator that affects you the most.

/*puts on republican hat*/

CLINTON DID IT!

/*Takes of republican hat*/

News just mentioned that foreclosures are up 67% in California. Banker fellow expected it to climb higher.

There is a correlation in spending habits(claimed on the radio) that when peoples houses go up in value, they spend more. Goes down, then spend less.

They also mentioned a snowball effect, that housing improvements go down which affects the home depots and sears, etc.

I decided to put my solar/wind generation plans on indefinite hold. If the economy flattens and the housing looses value, then I can't justify the expense anymore.

It might help when heating and electricity go up again. Which I think Gas will go up again after the elections.......

After all, it's your paycheck that matters most of all...that's the economic indicator that affects you the most.
And that's the reason the Republicans aren't getting any play electorally off of this "good economy." And I use the scare quotes for a reason--to call the economy good or bad is ridiculous because it's not a monolith. It's always good for some and bad for others and fair to middling for still others. Right now it's best for high income folks and investors. For everyone else it's neutral at best. For a lot of people it's downright poisonous.

And that's the reason the Republicans aren't getting any play electorally off of this "good economy." And I use the scare quotes for a reason--to call the economy good or bad is ridiculous because it's not a monolith. It's always good for some and bad for others and fair to middling for still others. Right now it's best for high income folks and investors. For everyone else it's neutral at best. For a lot of people it's downright poisonous.

Well, that's true. In the six years since Bush took office, the average person has seen little or no gains in terms of income and many people on the lower end have seen their status deteriorate further. Now, mind you, there are a lot of things he couldn't possibly have changed, but when a lot of your programs were sold as having a major economic benefit and they don't come to pass, that raises a lot of questions. It's especially bad when you consider the damage these policies have done to our fiscal situation and our ability to meet long-term entitlement promises.

Thankfully, the indicators are showing things are finally starting to turn around, but six years is a long time to wait for a raise especially considering Bush's economic plan was supposed to "raise the pie higher" and improve things for everyone following the 2001 recession.

Well, that's true. In the six years since Bush took office, the average person has seen little or no gains in terms of income and many people on the lower end have seen their status deteriorate further.

Thankfully, the indicators are showing things are finally starting to turn around, but six years is a long time to wait for a raise especially considering Bush's economic plan was supposed to "raise the pie higher" and improve things for everyone following the 2001 recession.
That's the thing, though--anyone who had followed Bush's record in Texas knew he was full of shit when he said he'd be helping out everyone. He's always been the guy from that scene in Fahrenheit 9/11 where he says "Some call you the elite. I call you my base." He's never given two shits about anyone but his rich friends, so to expect anything different once he became president was, well, kind of dumb. I've long maintained that Bush's economy has worked exactly as he wanted it to.

Bush has been a lousy economic steward (the President's main job). It started with those steel tariffs and went downhill from there.

I did think it was smart of him to abandon the strong dollar policy (and thus devalue the US dollar), but that sort of bit him in the ass when oil prices went crazy.

That's the thing, though--anyone who had followed Bush's record in Texas knew he was full of shit when he said he'd be helping out everyone. He's always been the guy from that scene in Fahrenheit 9/11 where he says "Some call you the elite. I call you my base." He's never given two shits about anyone but his rich friends, so to expect anything different once he became president was, well, kind of dumb. I've long maintained that Bush's economy has worked exactly as he wanted it to.

True. I'd say his economic policies were an attempt to appeal to his base, and perhaps too many people really thought that he meant just the middle class when in reality it was pretty heavily skewered towards the upper levels of society.

It's a back scratching contest.

those people made him president, and he made them richer.