The dow closed at a record High. Unemployment is at a record low. Why do people say the economy sucks?

Answer 1

Because they don't know squat about economics, and because the media and other Bush haters have been preaching their negativity so long and so loud that the uninformed are starting to believe it. Repeat the Big Lie often enough and it becomes the Truth.

Answer 2

Because the stock market is an indication of how corporations are doing, not individuals. And corporate balance sheets look good because thousands of jobs have been outsourced to countries where wages are much lower like India, the Phillipines etc, leaving many Americans out of work. The available jobs with which these have been replaced, are overwhelmingly service sector jobs which pay much less & have no medical benefits. Meanwhile, medical costs are skyrocketing & emergency rooms are closing due to the enormous costs of treating increasing numbers of unisured patients. For many, those medical expenses lead to debt and even bankruptcy, it's a vicious circle.

The administration supporters love to quote "averages" when talking about the economy & employment figures. But the average isn't the most useful number because it's easily thrown off by one extreme value. If Bill Gates walks into a room with 100 unemployed homeless men, on average everyone in the room is a millionaire. The mean, where you look at which value is less than half the sample and higher than the other half, provides a much more accurate overall picture.

The unemployment statistics don't count people who have given up looking for work entirely after a year of searching. If you don't apply for unemployment, you are assumed not to exist.

And the layoffs from auto manufacturers, airlines and telecom are continuing. So Sun microsystems, Intel, Verizon, Northwest Airlines, Kodak etc are cutting tens of thousands of jobs but hey! Wal-Mart and Taco Bell are hiring. THAT's the situation when you get past the smoke & mirrors. Unfortunately, the income from these jobs doesn't come close to getting people back to where they were; it's barely enough to support themselves, let alone families.

But the GOP is oblivious to this, since their base consists of those folks at the high-end where demand exceeds supply- very affluent Americans and shareholders in large corporations, not the working class. For them, hiring programmers overseas for $10K a year instead of $60K in the USA is great, that raises their stock price. And yes, there's shortage of CEO candidates these days- but the nation needs a hundred people earning $40k more than one guy pulling down $400k.

Answer 3

Lets see gas is 55% higher than 2001. Unemployment is at 4.6% in 2001 it was 4.2% (that ain't lower dumbell.) Inflation is double the rate it was in 2001. The Dow is at a record high but it has only gained 2% a year since 2001.

In contrast under Reagan the Dow averaged 11.3% a year, Bush Sr. it was 9.8% and Clinton it was 15.9%.

So just how good is wimpy doing with economy? It sucks when compared to the last 3 Presidents, two of whom were Republican.

Answer 4

The economy is targeted to make the rich richer and the middle and poorer poorer. Unemployment % is a convenient measure, but a better measure is HOW are those people employed? Salaries in the tech field have gone down 20-30% in the last 5 years. Interest rates for adjustable home loans and other home equity loans have gone up.

The bottom line is that the middle class is able to save less, and is buying on loan more. This is in the face of other increased costs - energy among them.

The economy doesn't 'suck', but it is doing next to nothing for the average person.

Answer 5

Some don't see a slump in the economy at all they are the corporate workers, but those of us service workers are seeing wage cuts (hey we didn't loose our job so were not unemployed) our company stock went up be cause they made more money. . but we are tring to get by with less as prices rise higher and higher, as we wait to hear we're being replaced by over seas outsourcing . . .

Answer 6

People still complain about the economy because there is still a lot of problems like: poor infrastructure, badly run hospitals and one of the biggest problems income inequalities, which are getting bigger every day. these problems need to addressed as well as unemployment and stock market performance

Answer 7

All i understand is that my portfolio, small as this is, has been becoming gradually over the previous 2 years huge time. It keeps going like this, my young ones college educations are paid for in approximately 5 years, and that they are purely 2 years previous and newborn. i'm commencing a sparkling job in August at a sparkling sources. not using fact i replaced into searching for one, I even have one now. They mentioned as me to return artwork for them at a 12% pay enhance. ought to that be the effect of confusing artwork and continuity? i'm a conservative.

Answer 8

Didn't we see the same type of thing a few years ago....just before the tech bubble burst....and you have to admit if something happens(iraq,iran,n. korea and ect) that could change overnight..as far as jobs go, most jobs added have been in the service industry....try feeding a family on minimum wage.

Then there is our HUGE debt.... how is that going to be paid?

Answer 9

well, the state i live in is like, currently number 2 for highest unemployment. maybe it's first now, i don't know. the economy does suck where i live.

Answer 10

Because the big corporations are making record profits, but the average worker is making less and has less.