Discussion in 'Economy' started by actsnoblemartin, Jul 15, 2007.
need to be made...
my company is having its best year in 15
Another record close on Wall St last week - the economy is doing very well
the dollar index has fallen to 80.36, m3 increasing at more than 10% annually.
crude oil has reaced $74/barrel, gas is $3.23/gal
trade deficit is at record levels.
budget deficit $8,882,773,122,381 nearly $30,000 per person.
The big 3's share of the u.s. market has fallen below 50%
Forclosures are rampant, the real estate market is in collapse.
Vote for Ron Paul
The defecit is growing and not slowing not.
Real estate is slowing down significantly
The value of the dollar is down
Crude oil is up.
We are importing more than we are exporting.
But.....people are spending so those things dont look so bad. Wall street is having another record year. Sept, you have to invest to feel the effects of that. Nobody is going to lower costs, just because they are making more money in the stock market. The rich get richer when we spend, nothing universally benefitial about that. Aside from collecting taxes on those rich, which needs to be raised significantly. If you have the money, you can afford to pay more taxes than the middle class.
Couldn't have said it better myself.
But Wall St. is doing great! So the economy must be doing great as well!
I mean, as long as the upper class stock traders are fairing well...
Iran wants Japan to start buying oil from them in Yen:
I guess all the bullying toward Iran is just because they are supposedly "seeking nuclear weapons".
The stock market is only setting records if you look at it in dollar terms. Compare it to other currencies, or just about any commodity, and it's either flat or declining. (Check out Zimbabwe's stock market--it's the highest gaining stock market you can find. That's what rampant inflation does, only when it's in stocks we don't call it inflation for some reason) We're in, or at least entering, a stagflationary recession. At least if you use statistical methods that haven't been heavily massaged that is. I'm afraid we're going to see a repeat of the 70's, only worse.
The annual bufget deficit has been cut by more then half
Inflation and interest rates are low
Unemployemnt is about 4.5%
wages and productivity are are up
the stock market hit another record high
home ownership is at record highs
libs are still sulking how tax cuts have more then paid for themselves
The top earners (the top 1%) are still paying 34% of all federal income taxes - even after the Bush tax cuts
Do you understand that the spending for the Iraq War, now at 12 billion dollars a month, is off the budget, so your numbers on the deficit really are NOT true?
Bush predicts U.S. budget deficit will shrink
WASHINGTON (Reuters) - President George W. Bush predicted on Wednesday that strong tax receipts would cause the U.S. budget deficit to shrink to $205 billion this year, marking the third straight annual decline.
But Democrats said the improvement in the annual deficit did not change the fact that Bush, who inherited a budget surplus when he came into office in 2001, has seen a sharp rise in accumulated debt on his watch.
The deficit hit an all-time high in 2004, in the middle of Bush's term, of $413 billion.
"A growing economy has led to growing tax revenues. Because people are making more money, they are also paying more taxes. The pie is growing," Bush told reporters at the White House.
But Senate Budget Committee Chairman Kent Conrad, a North Dakota Democrat, accused Bush of having a "failed fiscal record."
"He has increased spending by nearly 50 percent since taking office, while at the same time repeatedly cutting taxes primarily on the wealthiest," Conrad said. "Debt has exploded on his watch -- rising from $5.8 trillion in 2001 to approximately $9 trillion by the end of this year."
The deficit forecast for fiscal year 2007, released in the administration's mid-year report on the budget, would mark an 18 percent decrease from last year's $248 billion.
The report revised the 2007 forecast downward from the $244 billion estimate given in Bush's budget proposal in February.
Sadly, the Dems are sulking, whining about the tax cuts (which has brought in record revenues to Washington) and the overall giid health of the economy
(and Dems whine about Bush's spending while they are spending record amounts?)
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