jas1552:

I agree about this last quarter! The trouble is not that apparent stat, but the massive amount of data underlying it. If you take all that data into account, - this isolated statement is kinda like George's WMD threat :-)

Some stuff... the last quarter also established a pattern where .. eg.. the current foreign investment in Wall Street dropped from the "traditional" 50bill to 4bill/month. The fact the that dollar is currently weak is sure healthy for US exports, but flip the coin and this picture changes, - the actual earning from any increased exports are not actually staying in, or benefitting the US. They are being removed to other financial areas.

Hell knows how this Admin reckons they will "cover" the last spring budget from the US Treasury and plough on with some fiction for this year. Last year's Treasury report was one of the most damning in US history. Since that time things have got worse. It was mean't to be included in the budget last year, but was so bad Bush hide it and lied again. (Back to the biase in reporting *g*)

There are many other issues to all this stuff, - ie the fact that a considerable part of the *total* US economy is owned by other nations and is expected to reach 40% in the next year or so. That is just too much and does not do one damned bit of good for the US who basically get nada benefit. It is ironic that the people in the US are probably leading the rankings as the hardest working on the planet.

I don't claim to be an economist but something definately needs to be done about the exporting of US jobs (not that that's the fault of any politician). I'll be damned if I know what could be done about it though.

jas1552:

I am no economist either!! :winkwink: All I see is something, that if you were running a company like this, - I think I'd have the possibility of liquidation on the back of my mind :-)

Yes, agree! Same with jobs! There is a balance all round on this, but at the moment it is just getting worse and, guessing, but smell that will continue.

Forgetting any political stuff.. I really have no doubts whatsoever that the current Admin hold one massive responsibility for the economic state (forgetting the general world recession). They already have displayed no sign of any ability in fiscal management and are, almost daily, compounding it for the worse. They can't go on hiding it and issuing "selected statements" to portray some success in this area, - it just more lying to the people they are supposed to be "serving". (I think that's why they are in office?? :Graucho )

Uhh... but that is a political statement without any facts to back it up.

jas1552:

EH?? :Graucho It sure ain't mean't to be political!!! When I see folks lying and with no ability - I sack em!! :winkwink:

If they then think I was "political" by sacking em, well.. *lol*

Seriously, this stuff comes above "political" - I would go as far to say it is a gross betrayal of trust both to the folks within the US and several in other countries.

PS... Just look at the track record recorded in the financial press, not just in the US, but worldwide, then take a look at some statements from John Snow and Alan Greenspan. It does not take much to see they are not happy guys and certainly not "comfortable"! :-)

What the hell are you saying? That a deficit has nothing to do with the economy? I'm becoming more and more convinced that Bush followers have about a 3rd grade education level.

No. I'm saying they're not the same thing, and that the economy can be doing quite well even while the government spends more than it receives in tax revenue. The meaning of my statement should be obvious to all except for those who intentionally choose to misunderstand.

jas1552:

Getting you! But where does this hypothetical case apply right now?

I sure hope for many folks the "ecomony" is genuinely improving, but there is much work to be done before that is actually going to be of benefit. Basing "success" on one quarter results alone is not sound since this does not represent the full picture (see above for some of many reasons).

The deficit is the worst ever recorded and increasing.

So... the "theory" of an "economy can be doing quite well even while the government spends more than it recieves" is a little irrelevant in the current scenario? That's kinda like a bird with it's head in the sand.

I suspect it will take many years yet to recover from this, since the momentum still appears downwards and not flattening out.

I'm not basing anything on one quarter. The economy was doing well before the last quarter. I just mentioned the last quarter because the economy did extremely well then. As the economy continues to improve I expect tax revenue will grow as well. Could you imagine what the deficits would be if the government paid for all health care as some dems would like?

jas1552:

Where did you get the idea the "economy was doing well before the last quarter"?? The "economy" was in one bad state and sinking dramatically and this is evidenced by the billions removed out of the US and dramatic reductions flowing inwards. It sure ain't by "design" that the US $ has dropped in value!

To say the economy last quarter, "did extremely well" is just one of these "facts" that seem to percolate as some "reassurance", but simply don't stand up alongside all the other facts in that quarter. However, that "fact" is absolutely correct on it's own! :-)

It will take *years* to get back to some balance... if it does not get worse before it gets better.

I gotta go and do some work and maintain my economy! :thumbsup

50

http://money.cnn.com/2003/11/25/news/economy/gdp/
Numbers are from article linked above
2nd quarter growth at 3.3%. Not bad. 3rd quarter growth at 8.1%. Excellent. I've looked and I guess the 4th quarter numbers haven't been released yet?

Persoanl savings have dropped to 4%, jobs are scarce unless you want to accept Indian wage scales. What happens to the economy when people run out of credit lines?

That is the greatest commercial i have ever seen. You Yankees and your backwards ways. Slavery now child labor whats next? Training Monkeys to run factories. hehe