2007-09-06 00:24:45 · 5 answers · asked by Anonymous in News & Events ➔ Other - News & Events
Overall the Economy is not down.
Unemployment is down.
American workers are the most productive in the World.
Prices for American farm products are very high, and other copuntries are placing large orders for wheat, corn and other crops.
States like Oklahoma are benefitting from high oil prices--unemployment there is very low, and personal income is up.
The issues you hear about involve people wo tried to buy houses without having enough income or savings to qualify for a low rate loan. These people made a bet that their income would rise to compensate for an adjustable rate mortgage payment that double for more...
These lenders and mortgage holders did this to themselves.
2007-09-06 00:38:56 · answer #1 · answered by chocolahoma 7 · 3⤊ 0⤋
The economy is down because wages are down and consumer prices are up. Many Americans have less money to spend on non-essentials. More of their income is going towards food, gas, rising utility bills, etc.
Some American businesses many be making more money from overseas orders, but what I think is basically holding up the American economy is the war in Iraq and the investments being made into the companies involved. If the economy was relying on the average American worker, we'd be in serious trouble.
2007-09-06 02:02:29 · answer #2 · answered by ddnlj 2 · 0⤊ 0⤋
The economy in the United States is down right know because of the confidence people have placed in our future. The majority of people have started holding on to their money because of the war in Iraq,because the housing market is in the crapper, and basically because they do not trust our government to keep it's promises. Here is the catch, and mark my words on this. When Hillary Clinton becomes our next president ( God forgive me for saying this) one of two things are going to happen the economy will get much worse and the Democrats will blame it on the republicans IE George W., or it will get better. In which case they will praise Hillary for her leadership. In either case, they will be very wrong, due to this fact our economy is cyclic. We are in a down trend right now and people are starting to panic. Just like when "41" George Bush Sr. Left office and Bill Clinton took over. Clinton had promised many tax cuts and then came out and said the previous administration lied to him and all of that. Bottom line is the Federal reserve Chairman Allan Greenspan did not lower the prime at the right time he waited and that made the boom happen later after Clinton took office. That made Bill look like a genius. Now as for why we still grow faster than other countries one word "Freedom".
2007-09-06 00:48:41 · answer #3 · answered by Monte T 6 · 1⤊ 0⤋
Idiots!! The American economy is doing quite well right now. It's an issue the Democrat presidential candidates can't rail Bush on and that's why they aren't talking about it.
2007-09-06 03:51:35 · answer #4 · answered by Anonymous · 1⤊ 0⤋
In 1979-80, the economy was not good. I remember 13% unemployment and high gas prices and, I'll take this economy we have now. -Thanks.
2007-09-06 08:39:16 · answer #5 · answered by mark623112 4 · 0⤊ 0⤋