US Economy booming??? How???

Question

From the outside looking in, the US economy is booming and thriving...everything looks rosie and looks bright in the US garden...according to SkyNews which is part of the Fox network...
It would be absolutely impossible to be booming when you consider the NZ dollar is at approximately 81/82 cents to the US dollar..
For those who do not know, New Zealand is a very small, two-island country on the Eastern edge of Australia and produces a lot of wool & sheep related products..
I lived there for 12 months and it is a cold depressing place with not much going on at all, and their main revenue source is from tourism in the peak summer months of November through to February.
How can they be at such a high conversion rate, when their economy is weak, yet the US is allegedly 'booming?' Or is that just what the US government want the outisde world to think so that we can all live like Bush's America and again, justify protecting 'our way of life?'

Answer 1

Under Bush, the way some of the leading economic indicators are calculated has been changed. Unemployment figures are no longer computed by the Bureau of Labor Statistics, for example - that work is contracted out to a private company, which coincidentally, is owned by a leading Bush campaign contributor. The margin of error they are required to maintain is greater than the one mandated for the Bureau, and no outside verification is used to insure the accuracy of their numbers. Plus, when you consider the bald-faced lies this administration has told, I would not believe their statistics, anyway.

Several days ago, Bush was claiming that U.S. exports had increased. Since so many manufacturers are moving offshore, I found this hard to believe, and started wondering how widespread the manipulation of numbers has become. Remember the 20 Nobel Laurates who signed a petititon asking Bush to stop pressuring scientists to conceal evidence of global warming? The adminstration is not above painting a rosy picture to make themselves look better than they really are.

Ronald Reagan did something similar, when he changed the way the government figured the cost-of-living adjustment (COLA), which determines benefits to retired Civil Service employees, Social Security recipients, and certain other people whose pension or union contract is tied to the COLA. By substituting the average rent for the average house payment, Reagan stiffed those folks out of their regular increases. It's the conservative thing to do...

Answer 2

The U.S. dollar is losing its value, and honestly I don't know how it works. It has something to do with inflation.
But if you use the economic indicators most folks hold to (unemployment, intrest rates, the dow jones) these are all at levels that mean the economy is very strong.
And in the end I would say U.S. currency is the strongest in the world for one simple reason: it is honored as currency in more countries than any other.

Answer 3

The US dollar is partly weak based upon the fact that we have a high deficit and that we have a fiat (money is printed out of thin air) currency. I think that New Zealand probably doesn't have lots of their currency thus a high exchange rate compared to the US. For example, the British Pound is higher currency than the US.

Answer 4

The value of the dollar isnt tied directly to how well the economy is doing such as growth, production etc but to trade relationships

Answer 5

And the DOW that the cons love so much did badly yesterday. Lowest in 5 years! Even if it were doing well, the DOW has little to do with the average American who has to pay for stock market profits by losing their jobs to outsourcing and the imports of cheaper Chinese goods.

Answer 6

Because we are at war and because of all the disasters recently like 911, Katrina, and other hurricanes and flood.

It makes the economy look like it's booming because we are buying so much to repair all the disaster areas.

Ironic isn't it.

Answer 7

large question. i do no longer know a thank you to respond to without sounding like a Bush Basher, yet i'm going to purpose. interior the Nixon years we had "i'm no longer a criminal." meanwhile, grimy tricks have been being honed to an artwork sort. He persevered American regulations of propping up governments inspite of the suitable interest of the US. to this point as corruption, Ford and Carter have been particularly clean, and doublespeak replaced into no longer problem-unfastened, yet neither guy replaced into suitable. Carter suffered from regulations he inherited. He did no longer defend them nicely, yet he replaced into honest approximately them lots of the time. Then we had the super spending and the two super costs of the Reagan years--the "super show, super photograph" guy who fell asleep in cupboard conferences. the large Communicator replaced into additionally a large misdirector of interest. whilst i did no longer like the elder Bush's social regulations, i presumed he replaced into fairly honest. He replaced into coping besides as he would desire to with the mess Reagan left him. He had moments whilst he replaced into putting a happy face on the economic device inspite of obvious info, and it have been given him de-chosen interior the vote casting sales area. Clinton labored with the Republicans, and mutually they further the deficit under administration. He benefited from forces he did no longer administration - the revolution in technologies that fueled economic improve for a decade. i visit continuously resent his looking into the digicam and mendacity, yet i know few adult adult males who does no longer lie in the event that they theory they might approximately what they had positioned the place without the spouse's awareness. the place his "what" have been replaced into no longer quite my undertaking, nevertheless. His regulations have been genuine looking, and that i presumed he replaced into honest approximately them. The economic device replaced into sturdy whilst Bush took place of work. you recognize the rest. In my working reminiscence, there has continuously been a fox close to the chicken-abode, each so often interior the fence, each so often exterior the gate. present day activities have positioned them suitable interior the door.