Is the economy really that bad?

Question

I just dont see it? Yes we are paying out the a** for gas but other than that . I'm going to make twice as much as I did 4 years ago this year. I live in a small midwestern where new homes are going up all over the place and companys in the surronding area are always hiring.

Answer 1

It is only "bad" for those who choose not to participate in it. For the other 96%+ of us, things are pretty good.

Answer 2

The economy is actually very good right now. Unemployment is down (and, no, it's not because the numbers don't show everyone who's out of work - besides, there's a job for everyone who WANTS one); more people own their own homes today than any other time in American history; even so-called poor people (most of them) own at least one t.v. and live in decent homes. The problem is this -- The media only reports bad, even if it's not bad, because they make their living off controversy.

Has anyone ever seen the movie, "Finian's Rainbow"? Fred Astair and his daughter come from another country (think it's Ireland). He tells her the whole way over here to America how wonderful America is. She asks, "but Father, are there no ill-housed and ill-clad in America?" He says, "Yes, daughter! But they're the BEST ill-housed and the BEST ill-clad!"

Answer 3

Yes, for business owners its is especially bad. We are the ones making the stretch for employees to maintain living wage they've been getting. And its not like we can scale things back because that puts the pinch on the individual. Most of my people are young, recently married or have small children - they really can't afford to go backward. MDK mentioned he'd hate to be an auto worker in Detroit. We are seeing the crunch here in the worst way. We lead the nation in home foreclosures at the moment, lay offs are up especially for the auto industry and that trickles down to the Tier 1 & 2 suppliers. Business slows way down, those that were completely dependent on the auto industry are for the most part, gone. The best we can do is weather the storm by dropping the dead weight employees (not all, just the slackers) and putting off projects until we can afford to fund them. MI is financially a turd and getting worse, our gov got handed a bad deal and can make no concessions. We are, like many other MI businesses, considering opening HQ operations in a southern state because the incentives can't be ignored in light of our current situation

Answer 4

No it's not that bad. There are alot of mixed indicatiors, so I don't think that it's booming, but we have low unemployment and a decent inflation rate. The cost of fuel is cutting into the rest of the economy, and the housing market has put an added strain on it. But all in all we are getting by OK.

Answer 5

The economy at this moment is not bad. We do have problems that will effect us: depressed housing market, huge trade deficits, large national debt, insolvent entitlement programs (social security but especially medicare/medicaid)If we are not proactive about some of those things, there will be trouble down the road. One last point is that middle class earnings are flat. Much of the growth of our economy has been enjoyed by the richest of Americans.

Answer 6

Depends on one's perspective. If you're employed and doing financially well, the economy is good. If you're unemployed or struggling the economy sucks. Objectively speaking, the economy is doing pretty well. Unemployment is down, the stock market is up, economic activity is still high. I don't hear much "the economy sucks" news these days.

Answer 7

One in every six manufacturing jobs that existed in 2000 are gone. Poverty went from a 23 year low under Clinton to a 37 year high under Bush. The National Debt sucked up 3 trillion in surplus to become over 9 trillion strong. Housing Market is in collapse. 47 million uninsured. Turnover on a 9$ an hour job is very high--always hiring is a must.

Answer 8

You are delusional. Housing market is at almost an all time low, things cost more now compared to the dollar than they have in years and we are on the brink of a recession. The gap between the wealthy and middle class/poor is the widest it has been for what 80 years, right before that thing called the great depression happened. There were a ton of rich people and that was it. You must have a good job or you are just young and starting to make your way. I made triple in three years and then they had to close the company because of rising costs in interests rates and credit rates and fuel. The economy is that bad.

Answer 9

No a majority of economic indicators are really good.

Oh and for those that say "The $ is falling The $ is falling"

That translates to smaller trade deficits and more wage parity across the globe.

Answer 10

The dow just hit 13,000...that's a record.

The only place where the economy is suffering is in the minds of neo-libs who think their paying too much for leather pants and boostiers.

Answer 11

food goods such as milk and bread have significantly increased in price if you like me make under the poverty level this hits big. Just thankful I don't have to support a family with the inflation eating this country and most other western countries.