why does the right insist the economy is booming?

Question

value of the US dollar is at a 26 year low
http://www.reuters.com/article/hotStocksNews/idUSMAR85282520070418

new housing starts @ a 16 year low
http://news.yahoo.com/s/nm/20071218/bs_nm/usa_economy_dc

greenspan predicts a recession
http://www.abc.net.au/news/stories/2007/12/17/2120743.htm?section=justin

foreclosures hit 30 year high
http://www.usatoday.com/money/perfi/housing/2002-09-09-foreclosure_x.htm

highest jump in wholesale prices in 30 years
http://money.cnn.com/2007/12/13/news/economy/ppi/index.htm?postversion=2007121312


want more ?

Answer 1

if they did not lie, what would they have to say.

Answer 2

Because the special interests they deal with most directly have access to the newly created money before the people. When the Fed comes in with $11 billion and bails out the banks, or when the government hands over $900 million to defense contractors, these industries do very well. Their stock increases and Wall Street sees profit.

The fact that inflated and taxed money is stolen from the citizens who are suffering economically doesn't register for them. They mistakenly believe that a free market involves government coercion to inflate and tax and borrow in order to prop up the markets.

There's also no real difference between the left and the right, except in terms of semantics. Neither are really that interested in helping the people, or else they wouldn't be taking money from the same banking and defense interests (to name just a couple) that are committing these scams on the people.

Answer 3

It has to do with being ignorant and repeating the drivel that their leaders spew.

Anybody can claim that the economy is booming and because of that they are bringing in $200,000 per year, that doesn't make it true. The truth is that we are on the verge of more than just a recession. The total collapse of the U.S. dollar isn't that far into the future if we don't do something about the national debt, and soon.

Answer 4

There are two aspects to the economy at work here. The equity market is flying high. Corporate profits and earnings are very high. The problem comes with the Debt Market (Corporate Bond market). This tanked hard, and it taking down those statisitcs you mentioned with it.
I think the Republican Candidates don't know their @$$ from a hole in the ground though, as there is definitely a Recession looming. McCain seems the only one with the common sense to approach this, but he has been marginalized for have a moral fiber about torture (Shame on him...Guilani, the talking idiot, should be our guide!!...someone please drop a bus on Guilaini). The indicators you pointed out are actually very closely tied to Greenspan...which i think is funny you also have his link about Recession.
With the year coming up, the US is not the only one in fear of recession. the UK is looking at it too.

I agree with the spirit of your question, as the Republicans are simply trying to sound intelligent about matters beyond their scope...but I appreciate even more that you didn't blame this on Bush, as this had nothing to do with him. Greenspan, yes...Bush no.

Answer 5

You ask "why does the right insist the economy is booming"? And the rest of us ask "Why do the folks in the main stream media keep saying the sky is falling?"

BTW you failed to mention a few key factors...

GDP
Unemployment rate
Inflation Rate
Interest Rate

Answer 6

GDP and more high paying jobs than ever before. Get an education and grab one instead of waiting for the government to hand you one.

The low dollar has contributed to an increase in exports, so where is your link for that?

http://www.startribune.com/business/11763456.html
How did Bush create the credit crisis? Does anyone remember the Tech boom under Clinton that turned into a hoax? I don't blame the President for that, but the Liberals blame Bush for everything. Anyone see a pattern?

There is definitely a problem now, but for the past year we've had great news, and the Liberals have been screaming louder than ever. No such thing as a silver bullet, but we will have to strengthen the economy to get out of it, and not tax it to health.

Answer 7

They are just hoping it doesn't crash before 09. That's the definition of booming.

Answer 8

1. Positive thinking (attitude)
2. It makes it look like their policies have been justified.

Answer 9

They will say it until the end

Which is right around the corner - then its run for the hills!

Answer 10

Because it was. Things have changed though.