Personal savings rates are the lowest in 74 years - again americans spent more that they have. It's the worst since the Great Depression.
http://hosted.ap.org/dynamic/stories/E/ECONOMY?SITE=FLTAM&SECTION=HOME&TEMPLATE=DEFAULT
Exxon posts largest annual profit in US history - $39.5 billion
http://hosted.ap.org/dynamic/stories/E/EARNS_EXXON_MOBIL?SITE=FLTAM&SECTION=HOME&TEMPLATE=DEFAULT
How does this happen?
2007-02-01 05:45:31 · 7 answers · asked by Anonymous in Politics & Government ➔ Politics
Large companies, like our friends at ExxonMobil, are allowed to charge whatever prices they see fit at the gas pump. There has been no congressional oversight into this matter.
Until recently, the minimum wage has been held back into the 1990s by a non-responsive Congress. I am sure if the Republicans could go back in time (at least two years) they would have worked harder on the business of the people rather than the president's personal agenda.
2007-02-01 05:50:48 · answer #1 · answered by Jackson Leslie 5 · 1⤊ 2⤋
The personal savings rate does NOT include 401k’s and pensions. If taken into account, the savings rate is just fine.
Exxon Mobile is a publicly traded company. Estimates state that about 70% of the company is owned by pension funds (thus the general public owns the company). The latest earnings are indeed impressive at $35Billion. Such a large number! But the method of comparing to other companies/industries is return on capitol and return on investment. In these categories, XOM does not stand out, and is about average. It simply means that it takes a large amount of capitol for oil exploration.
Conclusion: there is nothing wrong with this picture.
2007-02-01 13:55:02 · answer #2 · answered by Bayou Brigadier 3 · 1⤊ 1⤋
people should save more.. how many people have cell phones, ipods, the newest air jordans or whatever the newest ones are.. and on and on. what does that have to do with oil company profits? oh you want to take from the haves and give to the have nots. I forgot.
http://www.conocophillips.com/newsroom/other_resources/energyanswers/oil_profits.htm
2007-02-01 13:57:14 · answer #3 · answered by CaptainObvious 7 · 0⤊ 1⤋
Worst savings since the great depression in the best economy since the great depression.
2007-02-01 13:49:32 · answer #4 · answered by Jace 4 · 1⤊ 2⤋
Chimp President: USA in steep decline
2007-02-01 13:50:00 · answer #5 · answered by Monkey Boy 3 · 1⤊ 1⤋
Exxon reimburses taxpayers for Valdez oil spill and clean up .
2007-02-01 13:50:30 · answer #6 · answered by -----JAFO---- 4 · 0⤊ 1⤋
welcome to the republican way of life.
2007-02-01 13:49:34 · answer #7 · answered by paul 5 · 1⤊ 1⤋