Economics Crew: Unemployment drops again, big job gains for Feb...

[Pro Street]

Originally Posted by MTdream

Sorry not accurate at all...which politician is in power has a lot to do with it, i.e business climate, and tax environment etc. etc. etc.

no, I'm not being sarcastic.

I'm actually rephrasing people's defense of the Bush Administration when the economy was going through a large downturn.

[Rouger2]

I wonder how our economy would be doing if our dollor was where it is suppose to be and not propped way up above its real value. Trade would be in the dumps and that would really hurt the economy. Our consumerism fuels the whole worlds trade, but we are living on credit and foreigners are willing to finance us because they are able to buy our debt for the interest, and our assets from the huge IOU trade deficit. That great economy is costing you and our children ownership of our country. We need a dam recession to get them off our backs. Each and everyone of us needs to be penny pinchers and consume only what is necessary. I know it will hurt the economy but with us just buying the necessities it will run well enough until we get out of debt and trade under control. It would solve so many problems. If we all did that there would be so much pressure by government and the Media on us to spend it would not even be funny.

[MTdream]

Originally Posted by Pro Street

no, I'm not being sarcastic.

I'm actually rephrasing people's defense of the Bush Administration when the economy was going through a large downturn.

you mean at beginning of first term...???

[Pro Street]

Originally Posted by MTdream

you mean at beginning of first term...???

2002, 2003, 2004, 2005...

[6SpeedTA95]

Originally Posted by Rouger2

I wonder how our economy would be doing if our dollor was where it is suppose to be and not propped way up above its real value. Trade would be in the dumps and that would really hurt the economy. Our consumerism fuels the whole worlds trade, but we are living on credit and foreigners are willing to finance us because they are able to buy our debt for the interest, and our assets from the huge IOU trade deficit. That great economy is costing you and our children ownership of our country. We need a dam recession to get them off our backs. Each and everyone of us needs to be penny pinchers and consume only what is necessary. I know it will hurt the economy but with us just buying the necessities it will run well enough until we get out of debt and trade under control. It would solve so many problems. If we all did that there would be so much pressure by government and the Media on us to spend it would not even be funny.

Our dollar is being propped up? Every respected economist that has criticized the current position of the dollar say it is undervalued NOT overvalued.

I definatley agree our society needs to live within its means and our government needs to do the same but treating government debts/deficits like personal debts/deficits is irrelevent because they are not the same. They're both problems but economically they are different.

[6SpeedTA95]

Originally Posted by Pro Street

2002, 2003, 2004, 2005...

We haven't had economic problems in those years. In fact 2002 marked the beginning of the recovery.

[Pro Street]

Originally Posted by 6SpeedTA95

We haven't had economic problems in those years. In fact 2002 marked the beginning of the recovery.

we were in a deep recession and still recovering from 9/11.

[ballz2wallz]

Originally Posted by Pro Street

the presidency has nothing to do with the economy

I never said it did

But I think tax cuts helped

[Pro Street]

Originally Posted by ballz2wallz

I never said it did

But I think tax cuts helped

you think?

how did the tax cuts help?

did anyone mention that personal debt is increasing? That the cost to earn ratio per person is increasing? That people on average continue to spend more than they make?

tax cuts helped?

[6SpeedTA95]

Originally Posted by Pro Street

we were in a deep recession and still recovering from 9/11.

dude the economic expansion in 2003, 2004, 2005 and 2006 were all good, 2006 being the slowest of those years. 2002 posted significant growth in the latter half of the year to come in at 2.5% total real growth for the year. I suggest you check your econ history on this one.

To say we're still recovering is a bit odd considering since early 2003 we've been at full employment by every standard and only briefly dipped below full employment by the most stringent standards from october 2001 to the first half of 2002.

[6SpeedTA95]

Originally Posted by Pro Street

you think?

how did the tax cuts help?

did anyone mention that personal debt is increasing? That the cost to earn ratio per person is increasing? That people on average continue to spend more than they make?

tax cuts helped?

Whoa whoa whoa...you're blaming personal spending habbits on the president? This is ridiculous especially during an economic expansion as robust as this one has been.

[MTdream]

Originally Posted by Pro Street

you think?

how did the tax cuts help?

did anyone mention that personal debt is increasing? That the cost to earn ratio per person is increasing? That people on average continue to spend more than they make?

tax cuts helped?

personal debt argument is a sham...it does not take into account all forms of modern investment...it is merely a picture of savings and credit debt...

for instance, household debt might be at all time high, but so is household net worth...net worth is a formula of total assets -total liabilities...i.e. stocks, Your houses net value, your 401k, mutual funds, other equities, as well as your total debt not just parts of it...etc. etc. etc

the personal debt is a bad indicator of financial stability...

total household borrowing grew at only 6.6% (lowest level of expansion in 8 years) while household net worth expanded at 10.5%

So, the debt story like most stories, is not the whole picture...but it makes for good talking points for those opposed to good economic news...

[MTdream]

Originally Posted by Pro Street

2002, 2003, 2004, 2005...

Yeah sorry, your facts arent near accurate...


Personal networth (the best indicator of your financial stability)

13.3% in 2003
9.2% in 2004
7.9% in 2005
7.4% in 2006

these are NOT small numbers!!!! These are significant signs of highly productive and expanding economy....

[6SpeedTA95]

Originally Posted by MTdream

Yeah sorry, your facts arent near accurate...


Personal networth (the best indicator of your financial stability)

13.3% in 2003
9.2% in 2004
7.9% in 2005
7.4% in 2006

these are NOT small numbers!!!! These are significant signs of highly productive and expanding economy....

You're making some good points but I have to add a bit of perspective here. the 2003 expansion of net worth was due in large part to a significant stock market rebound after a significant contraction beginning in november of 2000.

Again, dont get me wrong you make a good point but I'm trying to add a bit of perspective.

[Pro Street]

Originally Posted by MTdream

personal debt argument is a sham...it does not take into account all forms of modern investment...it is merely a picture of savings and credit debt...

for instance, household debt might be at all time high, but so is household net worth...net worth is a formula of total assets -total liabilities...i.e. stocks, Your houses net value, your 401k, mutual funds, other equities, as well as your total debt not just parts of it...etc. etc. etc

the personal debt is a bad indicator of financial stability...

total household borrowing grew at only 6.6% (lowest level of expansion in 8 years) while household net worth expanded at 10.5%

So, the debt story like most stories, is not the whole picture...but it makes for good talking points for those opposed to good economic news...

personal wealth and economic issues are not a sham, it is what actually affects the people.

[Pro Street]

Originally Posted by 6SpeedTA95

You're making some good points but I have to add a bit of perspective here. the 2003 expansion of net worth was due in large part to a significant stock market rebound after a significant contraction beginning in november of 2000.

Again, dont get me wrong you make a good point but I'm trying to add a bit of perspective.

I wish I could could go back to quote posts on OT from that time, because you and others here were singing a different tune.

It's funny how perception on things change when they benefit a specific cause.

[6SpeedTA95]

Originally Posted by Pro Street

I wish I could could go back to quote posts on OT from that time, because you and others here were singing a different tune.

It's funny how perception on things change when they benefit a specific cause.

What tune was I singing and about what?

[6SpeedTA95]

Originally Posted by Pro Street

personal wealth and economic issues are not a sham, it is what actually affects the people.

I think he agrees which is why he posted the net worth (aka wealth) numbers in addition to your debt numbers.

[Pro Street]

Originally Posted by 6SpeedTA95

What tune was I singing and about what?

why do I need to do this? are my posts not clear enough?

Originally Posted by Pro Street

the presidency has nothing to do with the economy