Will liberals ever admit that the economy is booming right now?

Question

All you hear is doom and gloom from them about the economy

The unemployment rate is around 4.5%. Stock market is at record highs. Let's more people working, more people investing in the market. Interest rates are low. Inflation is low. Sounds like a great economy to me.

Answer 1

Sure the economy is booming. But there's a difference between quality and quantity. There is going to be a recession--starting next year most likely. That's what happens when you maintain sustained deficit spending.

And it is already starting. Job growth is strong in numbers, but getting steadily weaker in terms of good jobs. The housing market is crashing. Plus a lot of other indicators.

But here's the most serious--and the most damaging to the neo-con pretense that "all is well:" the average real wages of American workers have fallen over the last 6 years.

Its not going to matter in November 2008 if all of Bush's rich friends are still reaping record profits. If the average person is worse off economically how do you think they are going to vote? The guy trying to put his kids through scholl doesn't care about some multi-millionaires stock portfolio--he cares about those kids.

And there are a hellava lot more of those average guys out there than there die-hard Bush followers.

Answer 2

A lot of the economy is booming, but most is not. Only big business is benefitting from the current trends. They are benefitting most because of the profits they are making on the international currency exchange.
The dollar is rapidly declining in value of the international curreny exchange. Big businesses that have international trade are earning more bucks when they exchange their foreign currency earnings into U.S. dollars. Every single Dow member is exceeding earnings expectations in the first quarter, and all of them are citing the currency exchange as the reason.
When stock prices increase for that reason, it a sure sign of bad times ahead. Think about it. These companies are earning more money because your dollar is losing value. That's called inflation, by the way. Now how exactly is that going to effect you?

Answer 3

Depends on what you mean by booming. Many industries are doing quite well, inflation is low, unemployment is low and interest rates are still fairly low. On the other hand, housing sales have slumped, the number of foreclosures has increased, the number of bankruptcies has increased, personal debt is at an all-time high and personal savings is at an all-time low.

The economy isn't bad, it just isn't great.

Answer 4

Stock prices and corporate profits are narrow indicators of the economy. There are many others as well, such as increases in personal income, bankruptcy and foreclosure rates, increases in personal income taxes, and so forth.
The majority of the economic indicators are trending downward. The expansion being enjoyed by big business is not a broad economic boom. As a matter of fact, most indicators are showing the country headed toward recession.

Answer 5

A few people are benefitting from this economy, but what fails to get publicized is the fact that more people are living in "extreme poverty (living under the 2000 poverty level)" now than before mr. bush took office.
Home repo's are at an all time high. Doesn't sound promising to most.

Answer 6

If you measure the health of Exxon-Mobil and Wal-Mart by the DOW, you are correct. If you measure it by the average American, not so correct. Take a look at the recent housing market and foreclosures. Have you bought gasoline lately? Do you think the flood of illegals here and the outsourcing of American jobs to overseas cheap labor markets has anything to do with that boom?

Answer 7

Umm it's not? Do you read the news? GDP growth is slowing.

"The government reported on Friday that the economy grew at an annualized rate of just 1.26% for the first three months of the year. That's pretty weak. It's the slowest quarter in four years."

Welcome to real life.

Answer 8

Please show proof of that. I have proof that contradicts your statement.

Oil and gasoline prices are rising, inflation is up from last month and last year, food prices are rising, foreclosures are up into record levels, largest budget deficit ever and largets national debt than ever, a 9+ trillion dollar war that hasn't even been added to the national debt or the economic indicators yet, house buying is down 4.9% and there is much more as indicated in the articles below. Analysts said the bulging US trade deficit, which is especially pronounced with fast-growing China, and the housing market downturn conspired to hobble growth.

GDP growth hit the brakes in the January-March period as exports fell 1.2 percent while imports rose 2.3 percent. Growth stumbled to its weakest quarterly rate since the first quarter of 2003 when America launched a war to topple former Iraqi leader Saddam Hussein.



http://news.yahoo.com/s/afp/20070427/bs_afp/useconomygrowth;_ylt=AiIgrCl4.gfdCIEmR5Q_RB3v5rEF

http://news.yahoo.com/s/nm/20070404/bs_nm/usa_economy_millionaires_dc;_ylt=At.z1sbQyx8dt7dM.iH94mDv5rEF

http://news.yahoo.com/s/nm/20070424/bs_nm/usa_economy_housing_dc;_ylt=Ap3o4GvqY.HEjmglZ3N3G8vv5rEF

http://news.yahoo.com/s/ap/20070424/ap_on_bi_ge/us_economy;_ylt=AshT_TYn9iUcD4Ibr7lZfYLv5rEF

Answer 9

I fully admit that the economy is booming right now - FOR corporations and CEO's. They are doing very well.

here is a statistic that tells it all:

personal savings are at an all time low
personal debt is at an all time high.

put it into a "real" context, and it isn't booming so much, is it??????

Answer 10

the worry with liberals is basically that they be attentive to plenty that may no longer so. The Liberal ideology is a theory , fostered by a delusional, illogical minority and which holds forth ideals that have no foundation in actuality. Arnie