I always hear that we have a good economy or a bad economy, but I never see a difference. I am being completely bi-partisian here. Whether it was "Reaganomics" or Bush Sr.'s "recession", Bill Clintons "Boom" then "recession" or George Bush's current "Boom". Over ALL of these years, I have never been laid off, nor have I ever seen any more significant wage increases. Things have always been evenly tough financially. I would never know that we are in a recession or a boom unless I watched the news.
2006-10-23 07:33:56 · 7 answers · asked by chuck3011 3 in Politics & Government ➔ Politics
I've noticed no significant change either. However, I have been a stay-at-home-mom for most of the last 15 years, and prior to that I was a high school student without a care. I do know that my husband's 401K has never looked healthier than it does right now. I manage it for him, and he lost only 2% after 9/11. He's currently gaining 18% for the last 2 quarters. At only a 7% gain per year, we will be millionaires upon his retirement. He has never been laid off either, nor has he seen significant increase in wages.
2006-10-23 07:39:48 · answer #1 · answered by shojo 6 · 1⤊ 0⤋
The fact is, the economy has stagnated for the middle class. Workers are much more productive, but the upper class gets almost all the benefits. That is probably why it all seems the same to you.
The figures look at the economy as a whole usually. In large companies, CEO's are now paid 350 times what the average worker gets, 15 years ago it was just 40 times. So the profits are skimmed off at the top and the rich are richer. Really!
2006-10-23 08:20:41 · answer #2 · answered by ? 5 · 2⤊ 0⤋
I own a house. I have a 2004 honda in the driveway...
I make a good living. I work 10 hours a day 5 days a week.
Ive held a job since I was 13 years old till now. Ive never been unemployed longer than 2 months.
I have a nice savings..Im not rich but hope to be by the time im 50
I take 1 big trip and several driving trips a year..
how does that sound?
2006-10-23 07:44:34 · answer #3 · answered by smitty031 5 · 2⤊ 0⤋
In the last twenty years I have bought a condo, sold a condo.bought a house, sold a house. Lost Half of my 401k when the tech bubble burst. lost a job, got another job. rolled over in another 401k, moved to Arizona and bought another house, and regained all my losses and more in my current 401k. The best thing I did was to learn how to manage my money and move to Arizona where the cost of living is cheaper and there is a good investment potential.
2006-10-23 07:47:20 · answer #4 · answered by you do not exist 5 · 2⤊ 0⤋
Things really are much better for me and my family despite a very big loss after the 9/11 Terrorist attack. We do work hard, but have been able to pay off our home, save for vacations and retirement. We are not wealthy, but life is pretty good and stable at the moment.
2006-10-23 07:41:55 · answer #5 · answered by Answergirl 5 · 1⤊ 0⤋
GREAT question! I work in an area that is sensitive to ups and downs in the stock market, bankruptcies, etc. so the business cycle directly affects the amount of work I have, and therefore, whether I work or not.
Things like mortgage interest rates also have an effect.
2006-10-23 07:39:49 · answer #6 · answered by American citizen and taxpayer 7 · 0⤊ 0⤋
If it was fine I would not walk around the downtown business district at lunch and see people begging on the street .
2006-10-23 08:06:32 · answer #7 · answered by playtoofast 6 · 1⤊ 1⤋