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The State of the US Economy

Discussion in 'Uncategorized Threads' started by wolfram, Sep 28, 2007.

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  1. wolfram

    wolfram Well-Known Member

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    I live in an area that is supposed to be experiencing positive economic growth and yet I don't know of a single family that is becoming more solvent. Seems like the rising cost of everything is greatly outpaceing wage increases. The solution for the average guy is to cut unnecessary spending (like shooting) but we like to have fun so longer term planning tends to go out the window. Hope we aren't headed for the big crash.
     
  2. grammie

    grammie TS Member

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    wolfram:

    If you really wish to know?????

    Food prices,,,It does not matter if Illegals pick the fruit or crops,,,,farm subsides are coming to an end,,,the full price of what it cost to grow an apple,,plant lettuce,,grow a steer will be felt,,,very soon!!!

    A "discussion" in the halls of congress is going to talk about a 50cents per gallon tax on gasoline,,,,plus a "carbon tax" on everything that emits pollutants,,,,,that includes spreading lead around a gun range!!!! It will be something like 250 dollars per ton of emmissions,,,,I can forsee that cost being forwarded to say,,,license plate re-newal,,,or payroll deductions!!! To calculate your carbon footprint go to any of the "green web sites" and be prepared to see what you are going to owe!!!!

    Right now the stock market is reaching new highs,,,,,Led by---get this----GENERAL MOTORS!!!!! Their stock rose simply because they ended a strike so soon after starting,,,,,,,they are reaching for anything that will justify a DOW at 14,000!!!! In other words,,,it looks like they are looking for suckers to get the smart money out while the going is good!!!!

    Oil at 80 per barrel!!!!! A strike at Iran coming,,,sending OIL to NEW ALL TIME HIGHS,,,perhaps over 100 per barrel,,,sending the entire world economy into a tailspin,,,,,Any "alternative fuel" at least 20 years away,,,,and a whole menu of taxes coming,,,tax and regulate,,,then tax some more!!!!

    Home foreclosures at all time highs,,,,The true cost of the Iraq war to exceed the "total cost" of 13 years of Vietnam!!!! And more,,,much more to rebuild the infrastructure of Iraq while ours falls apart!!!! Illegals getting social security benefits after 10 quarters,,while an American is not eligble for 40 quarters!!!!! Illegals will be entitled to the coming socialist health care for all too!!!!! And more...much more.....

    AKA Grammie.........
     
  3. halfmile

    halfmile Well-Known Member

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    The big boys are licking their chops...........

    HM
     
  4. revsublime

    revsublime TS Member

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    wait...I thought the economy was strong and thriving as all the Bushies like to report. How come they're not here disputing this "liberal" attack?
     
  5. shot410ga

    shot410ga Well-Known Member

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    It has peaks and valleys. We are going deep into a valley now, and have not reached the bottom. Expect to start climbing out of the valley after the next national election. The Demo's will be on a honeymoon the first year, and everything will improve, for a while. A chicken in every pot.


    Long term forcaste: every real dollar worldwide has $20.00 borrowed againist it. Ergo; the house of cards will come tumbling down as these loans are called. Very similar to 1929 when stock margin calls started coming down when the price of the stock fell. Loans are called when the value of the asset declines. Bad new is comming our way, in the long term.

    Of course, there is the other side, and I'm sure someone will explain it to us.
     
  6. pendennis

    pendennis Well-Known Member

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    The numbers in that report use disposable income for the numbers. They do not include IRA's, 401-k and other similar savings plans, and corporate pension funds. It also does not include FICA taxes. In 1932-1933, these savings plans did not exist. 401-k accounts, are for the most part, deductions from your gross pay, and never get into disposable income. Typical of MSNBC to mis-report economic news. With the advantages people have for tax-deferred income, after-tax savings have become less and less popular.

    Most people participate in "forced" savings that do not get reflected in the Dept of Commerce numbers. If you work for any company that has a pension plan, dollars that you contribute to the plan after taxes count as savings.

    Revsublime - Please spend a little time researching these reports before you mount your usual attack on President Bush. You're telegraphing your punches.

    Best,
    Dennis
     
  7. carv

    carv Member

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    I just returned from the National Business Aircraft Association convention, attendance total of over 32,000. They were selling jet aircraft from 2 million to 40 million and above like hot cakes. Bad economy? It is becoming the haves and the have not’s very quickly. It appears that many can afford their own jet travel. I may drive them, but I cant afford to put the fuel in.
     
  8. revsublime

    revsublime TS Member

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    Pendennis...I live the research. Remember Enron? Tyco? etc? Just because many of us are fortunate enough to have a 401K does not mean the economy is chugging along strongly as this administration has been telling us.

    Job creation? great numbers...for fast food and illegal immigrant workers. Greater income....for the top 10%. THose of us in the middle are NOT better off than we were 10 years ago. Not to mention what it will be like in 25 years when I hit retirement age and all that money that I have paid into SS has evaporated. The baby-boomer generation will leave little for those of us that came after even though we've been payin into it for 20+ years.

    Tax cuts bringing in increased revenue? Financial experts say that revenue would have been higher without the taxcuts. Why? Because of a president and a majority leadership that did nothing to curb govermental spending...not one single pork-laden veto appeared. The house of cards is facing a stiff breeze.
     
  9. wolfram

    wolfram Well-Known Member

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    Too much reality for a Friday afternoon. Think I'll go load some shells while I still can.
     
  10. phirel

    phirel TS Member

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    My local economy could be better. We are held back by the lack of workers to fill the available jobs. I am sorry revsublime is having such a hard time.

    Pat Ireland
     
  11. School Teacher

    School Teacher Well-Known Member

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    I am with wolfram. I need to load some shells to relax. Then load up the truck for a shoot somewhere tomorrow.

    Most of the high school kids around here are planning to go to a football game tonight and are drooling about what to do with their boyfriends and girlfriends afterwards.

    Enjoy life today because tomorrow you may be dead.

    It would be great to be young again!
     
  12. smsnyder

    smsnyder Well-Known Member

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    credit sticks today and repos of cars and homes are way up.
     
  13. pendennis

    pendennis Well-Known Member

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    To Grammie and Revsublime -

    I constantly see both of you railing against President Bush. I, for one, am not a big fan of his, either. He is no conservative, and has signed too many spending bills for my taste. However, how much worse off would you be with an Al Gore or a John Kerry in the Oval Office, coupled with a Nancy Pelosi and Harry Reid?

    You complain about spending, lack of consumer confidence, high oil costs, and a litany of economic ills. Yet, when did you last vote for anyone who did not promise you some sort of quid pro quo for your vote? The spending bills originate in the House of Representatives, and almost every Congressperson is voting for some sort of pork barrel project for his/her district.

    Since the mid-1960's, there has been no special Social Security trust fund. LBJ led the fight to raid Social Security. Besides, if Social Security were run in the private sector, as it is in the Federal Government, the management would be in jail for running a Ponzi scheme.

    Oil wouuld not be $83/bbl if you voted for a Congress who would allow oil drilling to tap fields which hold greater quantities than the Saudi Arabian
    fields. No one has raised a peep about the Chinese helping Cuba drill in the Gulf of Mexico. Alternative fuels only handle the gasoline piece. Nobody likes to talk about the amount used for plastics and lubricants. Lead and copper mining are also restricted in this country.

    The only "financial experts" who were against tax cuts are those remaining Keynesian dolts who believe that the government is the source of wealth creation. There are volumes of economic studies done which show that low tax rates equate to higher economic activity and more personal wealth. You only need to read Hagel and Freidman to understand this.

    Those morons who took out ARM's during rising interest rates, are getting their just comeuppances. Economics has laws which are as true and sure as those of chemistry and physics; and woe be unto those who violate them.

    As to Enron aned Tyco; there will always be those among us who would do wrong, but as someone once said, "The price of liberty is eternal vigilance." In a free and open society, not everyone will do right, and there are laws which will deal those who don't. That miserable SOB, Kenneth Lay, is probably burning in hell as I write this.

    Best,
    Dennis
     
  14. Uncle Sam

    Uncle Sam Member

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    If you can't make it in the U.S. your in real trouble...end of story !!.......................Uncle Sam, Pa.
     
  15. revsublime

    revsublime TS Member

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    Dont worry Pat, I live in Seattle and the aerospace industry is booming. War is good for us. Had I lived in Michigan, I would probably be much worse off.

    Has the dollar ever been as bad as it is now?

    Pendennis...I am not talking about those who were against the tax cuts prior to them being passed. I am referring to those experts that now see what little they have done with a war going on and an administration who has absolutely no fiscal responsibility.

    Sure...LBJ started the raid on SS...and every idiot that has occupied office since then has continued it. Just one of the myriad reasons that I refuse to vote for any REPUBLI-CRAT.
     
  16. maltzahn

    maltzahn Active Member

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    You boy's make it sound like the only thing that will have future value is guns, bullets and freeze dried food. The anarchist have been waitng for this day, and they must be right. Any wagers on how many 223's 'ol Grammy has stored away? Bet he can't wait to shoot his hated Christian neighbors, then kill some frickin' Mexicans. Pull!

    Maltzie
     
  17. Fast Oil

    Fast Oil TS Member

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    To add to what pendennis has said, throw in your state, county and city taxing authority and government thinks we have an endless supply of money to support their projects.

    Look at your sales tax rate going up, cities add taxses on cell phones, cable TV /satellite. They increase your school tax. They raise the state tax on fuel and then raid the money and tell you they can't afford to fix bridges and roads.

    Here they now are pushing a 1% land transfer tax, on top of the doc stamps that you are charged already.

    They start a lottery and then cry because it did not raise the revenue they expected.

    Know wonder rev's middle class struggles.

    Off my soap box for a while, got to close the shop.

    Scott
     
  18. stokinpls

    stokinpls Well-Known Member

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    Like here, they complain, "The Lotto was supposed to be for education!". Well, it is, it raises 600 million bucks a year, only problem is the Ed. budget is 13 BILLION!

    Yeah, tax cuts are bad. Too bad we don't get one on our property. The way it's structured here, I'll have payed the county 1/2 the value of my home in 20 years and what will I have to show for it? 3/4s of my taxes are going to the school district and I haven't had a kid (1) in the school system since 1992.

    Social Security? There's nothing to worry about. The Defeatocrats said so and we believed them enough to put them in control of Congress again, like 42 of the last 50 years. I feel so much safer now, don't you?

    Also, sublime explain to me agian how reduction of spending increases revenue? Did you get that one from moveon.org's playbook?

    "Financial experts say that revenue would have been higher without the taxcuts. Why? Because of a president and a majority leadership that did nothing to curb govermental spending..."
     
  19. revsublime

    revsublime TS Member

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    Fortunately...I live in Washington where I cant remember the last time sales tax was raised. Combined state & local tax rate on goods has been a steady 8.9%.
     
  20. 9point3

    9point3 Well-Known Member

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    People have way too many toys and trips as well as extra cars and nice homes and cell phones and, and, and, for me to think the economy is too bad off.
     
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