Tell me where you see a booming economy?

Question

I keep seeing people say our economy in the US is booming, tell me where? They say unemployment is down, but that is counted by the new claims filed, what about the people that have been on it a while? Wouldn't it be more accurate to measure it by how many people on unemployment actually found decent paying jobs equal to their skills, training and aptitude? Prices are rising everywhere you look, but is your pay rising to make up for the difference. My conclusion is that the economy is good for big business.

I work hard too and I make good money, but it is not going as far as it used to. I am not broke, but as far as some of the extras, well, I've cut back. I am not one of those people who believe in accruing large amounts of credit card debt. And as far as the stock market I do not believe that the majority of american workers can afford to invest in the stcok market.

Answer 1

I've asked this same question. A few sectors are doing well, housing for one and energy (lots of oil rigs in this state), but overall in my state I see a very stagnant economy. Wholesale prices for consumers are rising on a whole host of products, health care and insurance costs in general are soaring, consumables are starting to rise heavily, housing, energy, and on and on. GWs famous tax cuts have greatly benefitted the upper 5% income brackets but the has left the other 95% out of the loop. And the insane spending on this war has driven us deeper into debt than ever before, something we will be paying the price for, for decades to come.

Answer 2

There are a number of aspects that add up to a good economy. Interest rates are low, Inflation is low, unemployment is low (I know there are unemployed holding out for "management" positions), Stock market is giving great rates of return, home ownership is at an all time high, and housing market has been steady.

You will always get those people who feel that they are not doing well but you cannot use them as the litmus test for the economy. You have to look at the economy as a whole. I know way too many people with only a high school diploma or less that are complaining about the economy and expecting that they should be earning 50K or more. The problem is that a lot of these people are not doing anything to improve their earning potential (getting a degree, increase job skills etc.)

Answer 3

THe economy around the country varies with area. Where I live in what used to be called an industrial area, around Cleveland, Ohio, the economy is at it's worst in many, many years. Most of what used to be our high paying jobs are now in Japan, ,China, Mexico, and other places around the world. Here, it sucks,
As far as the stock market being good, think about it, how many middle class workers have money to invest in the market? not many that's for sure, so again, the stock market refects the gain for the already weathy and has no benefit for the working class.
I'm afraid after reading some of the responses here, I have to add an important peice of information.
Those that claim the housing market is good, or steady, sure haven't done much research on that subject. True, the market in some area's hasbeen good, but in the old industrial area's, it has been disasterous at best. Home values have been on steady decline here for many years, home that sold for $160K three years ago, can now be had for $120K and sometimes less. Many homes in the 150K class cannot be sold due to bad local economy.
And I think with research you will find this trend true in any area that depends on a manufacturing base.

Answer 4

In Iraq , things go Boom there all the time.

As for America, they have solved the unemployment problem by redefining it out of existence. Before unemployment was how many people were looking for work. this didn't count the ones stuck with jobs that did not keep even but they were fewer folk then.

Now they only count the folk getting unemployment compensation. After that runs out you are no longer counted. By changing the rules there, more folk get thrown off UC so the private company running the thing gets a trifecta.

They get the money they steal as profit, they get less paperwork, and national unemployment goes down.

Actual unemployment of course is growing, and underemployment is bigger still but the Gang Of Pirates looks good and that is all that matters... To them anyway

Answer 5

Booming economy is only for the wealthy few well connected! The Majority of Americans are fleeced out while living in a sea of red ink debt, which one mortgage alone can do that to ya these days. Chronically unemployed 6 years out of the past 10 years! Life saving wipe-out now force to sell my house under pressure! The economy sucks for the working class big time! There is a boom in cheap labor supply for the wealthy getting abundant servant & slaves from third world countries. The working class are getting subverted in to poverty so immigrant conformist can COME ON DOWN! This is so WRONG.

Answer 6

The major ports lined up with cargo from China. The ports and port workers are enjoying a booming import business. nothing is manufactured here. The Chinese are even providing wheat to the USA. A country of 1.5 billion people can feed itself and the 300 million in the USA. How's that happen?

Answer 7

It's not booming where I am. I'm unemployed. Most of my friends are unemployed and have been for a long time now. We're having to live off my wife's job of 7.50 an hour. We (my wife, son and myself) all went hungry for 2 weeks last month because we didn't have enough food stamp assistance to cover the month. Ever spend half a month eating cold pork and beans and cans of corn? You don't think about pedicures then.

My car is busted, I can't get a new one, we can't afford the insurance for one and despite our very best efforts, we can't seem to find any better jobs and the unemployment office won't help us. The economy looks nice for you if you already had money to begin with but if you just got kicked out of your parents house, have nothing to start with and are barely treading water, life sucks...least AOL internet trials are free and a dial tone on the phone is cheap or I'd not even get to write this. Enjoy your SUVs and vacations. My infant son is crying for more oatmeal and corn.

To answer psatm: I have cancer and am undergoing chemotherapy right now, thanks to the charity of my local hospital ya prick. It's not always as easy as it sounds to go get a job under those conditions.

Answer 8

Yes, economy is good for business. If it wasn't for business, none of us would work...eat...etc. I have absolutely no problem with businesses making money. If they do, I do. If they don't...well the economy goes downhill in a NY minute.
And, yes, my pay is rising. Maybe it's because I work hard.
I'm middle class and I have invested in mutual funds. I contribute every month and have made money! The "little guy" can take part in investing!

Answer 9

I am like lon where is the economy booming ? I live on a moderate income,and money goes nowhere any more. gas over three bucks, milk five dollars a gallon.the economy is only booming for the greedy wealthy people,not the average american.I guess i could become a politician .then i could lie bribe,and bs my way up the ladder of greed,

Answer 10

Define "decent paying" jobs.
Of course prices are rising. Because we have miminum wage laws. Get rid of those. Then companies will be able to afford to pay their employees a reasonable wage and drop the prices of their products. See how beautiful things work when government doesn't screw them up?
The true minimum wage is zero (unemployment).
There is no "living wage". If you let the free-market do it's thing, things suddenly become affordable and jobs abound. Prosperity creates more prosperity. Government only takes it away.