Facts please.
2007-02-07 23:51:32 · 7 answers · asked by Anonymous in Politics & Government ➔ Other - Politics & Government
Because they did not cause it... I expect what you will see is in about 6 months if the economy isnt ruined by then, they will start taking credit and saying its just dandy and how they caused it all....
2007-02-08 00:11:59 · answer #1 · answered by lethander_99 4 · 0⤊ 1⤋
Just look at the size of the National Debt and the huge wage gap between what workers make and what CEO's pull out of a company. The economy is working like it is, right now, because China and Japan show up at the Treasury bonds sales -- this is the action that makes the M1 money. What if one day nobody showed up to purchase Treasury bonds????? Whew!!! Wouldn't the economy look kinda like the time just before Herbert Hoover (Republican) tanked America?
The current exchange rate for USDollars to Euros is: 1.29 USD buys 1 Euro. The dump on USD supposedly happens at 1.30. Suppose you have to purchase 1 Euro for 2 USD before purchasing .3 US gallon of gasoline? That is, the same price the rest of the world pays for gasoline. Could happen. The exchange rate on the currencies is influenced by a nation's balance of trade. Right now, America seems to think having Walmart and China in bed together makes a rosy little economic picture. Why, any old nasty facts like the huge trade surplus can just be hidden under the bed.
Reagonomics didn't work, the phone companies merged right back together again. Dubya Bush's credit card spree isn't going to work either. Time will tell.
2007-02-08 00:14:58 · answer #2 · answered by Anonymous · 0⤊ 2⤋
Income and wealth gaps in the U.S:
-- Wealth and Income: In 2004, median income increased only for families in the wealthiest quartile.
-- Home Owners vs Renters: On average, those who rent tend to be less wealthy than those who own a house.
-- Indebtedness: The wealthy are paying off their debts, while the poor are seeing debt burdens increase.
these indicators show that working-class families are having a difficult time making ends meet, while the rich are making gains.
The article from 2006 also anticipated greater perceptions of a poor economy with increasing fuel costs Also rising interest rates and the difficulty of affording health care.
Real average hourly earnings for workers (that would be middle class folks) generally remained the same, only the income for entrepeneurs and dividends went up.
The numbers look great, the economy is a ship that is sailing merrily ahead but leaving many folks behind, even those who are working hard.
So we don't all have to be rich, we don't all have to have raises and health care and the chance to own a home, but we do get to gripe about it.
2007-02-08 00:13:11 · answer #3 · answered by ash 7 · 0⤊ 1⤋
Just one of several facts- Personal savings in the USA are at a 73 year low. The last time it was this low was during the depression of 1933.
This indicates that a LARGE portion of the American population doesn't make enough to pay the bills, the necessities of life, AND have enough left to save.
2007-02-08 05:07:22 · answer #4 · answered by mdbshop 2 · 0⤊ 0⤋
My guess is because they are mindless idiots that lack the ability to see anything good that Bush has done as well as having the unique ability to ALWAYS see things in a bad light.
2007-02-08 02:05:28 · answer #5 · answered by JAY O 5 · 0⤊ 0⤋
Because the average amount of money people save is low, debt is high and the amount of debt held by foreign interests is at historic levels.
2007-02-08 00:09:08 · answer #6 · answered by Timothy B 3 · 0⤊ 1⤋
the DOW up again! they must hold their papers upside down. Although after the election they do now say it is in recovery, Why ain't that amazing!
2007-02-08 00:05:15 · answer #7 · answered by Anonymous · 0⤊ 0⤋