More good economic news

[F=MA]

I know this won't provide much comfort to those of us who are unemployed or underemployed, but this is one of the developments essential to recovery.

As wealth increases, so does demand for goods and services...and ultimately employment.

 

[twotonevert]

I am seriously working on reducing debt, but with a daughter starting college next fall, it will take longer than anticipated.

 

[F=MA]

I am seriously working on reducing debt, but with a daughter starting college next fall, it will take longer than anticipated.

Congratulations! Helping a child into and through college has to be a great accomplishment.

 

[mjrfd99]

The rich are still rich and the middle class has been decimated by government.

 

[walker]

I'm rich with the joys of life in America. That's what the Government told me.

 

[F=MA]

The rich are still rich and the middle class has been decimated by government.

The "middle class" (whatever that really is) has been decimated by:

Complacency - not improving skills and education rapidly enough to remain competitive in a global labor market.

Unrealistic expectations - expecting basic skills like speaking English and understanding math at a third grade level to be enough to provide for a middle class living.

Debt - particularly when it comes to common sense things like "don't finance depreciating assets".

Lack of saving/investment.

Greed coupled with shortsightedness - It's our constitutional right to not pay a penny more than is necessary for a good or service, isn't it? Our voracious appetite for "saving" money by buying cheap Chinese crap from Wal-Mart just so we'd have a little more money to buy more cheap Chinese crap from Wal-Mart next week has in large part killed off more environmentally responsible, more labor friendly manufacturers in the U.S. - many of whom also got complacent with product improvement and development because they were arrogant enough to believe that just because the U.S. was the only industrial power capable of mass production in the decades following World War 2 it was their god given right to enjoy such success in the future.

Of course it's easier to blame everything on some "higher power" like "The Government" than it is to admit we've made some errors along the path we've built to where we are at present.

 

[walker]

The "middle class" (whatever that really is) has been decimated by:

Complacency - not improving skills and education rapidly enough to remain competitive in a global labor market.

Unrealistic expectations - expecting basic skills like speaking English and understanding math at a third grade level to be enough to provide for a middle class living.

Debt - particularly when it comes to common sense things like "don't finance depreciating assets".

Lack of saving/investment.

Greed coupled with shortsightedness - It's our constitutional right to not pay a penny more than is necessary for a good or service, isn't it? Our voracious appetite for "saving" money by buying cheap Chinese crap from Wal-Mart just so we'd have a little more money to buy more cheap Chinese crap from Wal-Mart next week has in large part killed off more environmentally responsible, more labor friendly manufacturers in the U.S. - many of whom also got complacent with product improvement and development because they were arrogant enough to believe that just because the U.S. was the only industrial power capable of mass production in the decades following World War 2 it was their god given right to enjoy such success in the future.

Of course it's easier to blame everything on some "higher power" like "The Government" than it is to admit we've made some errors along the path we've built to where we are at present.

YEAH!!! What he said.

 

[Dino]

The "middle class" (whatever that really is) has been decimated by:

Complacency - not improving skills and education rapidly enough to remain competitive in a global labor market.

Unrealistic expectations - expecting basic skills like speaking English and understanding math at a third grade level to be enough to provide for a middle class living.

Debt - particularly when it comes to common sense things like "don't finance depreciating assets".

Lack of saving/investment.

Greed coupled with shortsightedness - It's our constitutional right to not pay a penny more than is necessary for a good or service, isn't it? Our voracious appetite for "saving" money by buying cheap Chinese crap from Wal-Mart just so we'd have a little more money to buy more cheap Chinese crap from Wal-Mart next week has in large part killed off more environmentally responsible, more labor friendly manufacturers in the U.S. - many of whom also got complacent with product improvement and development because they were arrogant enough to believe that just because the U.S. was the only industrial power capable of mass production in the decades following World War 2 it was their god given right to enjoy such success in the future.

Of course it's easier to blame everything on some "higher power" like "The Government" than it is to admit we've made some errors along the path we've built to where we are at present.

I completely agree but it doesn't help when Wal-Mart is given huge tax breaks to come into an area. It is not like they pass on that saving to their employees or the community.

 

[Justyntym]

K-Rist

 

[afterhours]

I completely agree but it doesn't help when Wal-Mart is given huge tax breaks to come into an area. It is not like they pass on that saving to their employees or the community.

? have you been to Wal-Mart....they seem to be passing the saving at my store...stuf is pretty cheap.


but once again this falls on us. Wal-Mart would not exhist if we did not shop there. we can complain all we want, but the reality is i have never seen a Wal-Mart close due to poor sales.

we are like rats, we will climb over each other to save 20% on something we want.

 

[majestic12]

The "middle class" (whatever that really is) has been decimated by:

Complacency - not improving skills and education rapidly enough to remain competitive in a global labor market.

Unrealistic expectations - expecting basic skills like speaking English and understanding math at a third grade level to be enough to provide for a middle class living.

Debt - particularly when it comes to common sense things like "don't finance depreciating assets".

Lack of saving/investment.

You did hit the nail on the head. Every time somthing went wrong in the ROTC The CO would tell us to point to the right. (we were sitting in a circle.)
It all comes back to us.

 

[Fastfrog007]

I blame pilots for the economic slump. With their big fancy planes flyin all over the world, seein cool stuff... (Jealous, thats all)

Im just glad things seem to be lookin up. I've been fortunate, i work in a food distribution warehouse, people always need to eat

 

[skydivr]

The tax man is acoming....

 

[F=MA]

The tax man is acoming....

Plenty of time to plan accordingly.

 

[Phil96]

Big problems require big solutions:

 

[Justyntym]

The "middle class" (whatever that really is) has been decimated by:

Complacency - not improving skills and education rapidly enough to remain competitive in a global labor market.

Unrealistic expectations - expecting basic skills like speaking English and understanding math at a third grade level to be enough to provide for a middle class living.

Debt - particularly when it comes to common sense things like "don't finance depreciating assets".

Lack of saving/investment.

Greed coupled with shortsightedness - It's our constitutional right to not pay a penny more than is necessary for a good or service, isn't it? Our voracious appetite for "saving" money by buying cheap Chinese crap from Wal-Mart just so we'd have a little more money to buy more cheap Chinese crap from Wal-Mart next week has in large part killed off more environmentally responsible, more labor friendly manufacturers in the U.S. - many of whom also got complacent with product improvement and development because they were arrogant enough to believe that just because the U.S. was the only industrial power capable of mass production in the decades following World War 2 it was their god given right to enjoy such success in the future.

Of course it's easier to blame everything on some "higher power" like "The Government" than it is to admit we've made some errors along the path we've built to where we are at present.

These are cliche answers and not accurate. The economic problem is global.
Including the "technologicaly progressive countries", which somehow we do
not qualify for anymore. It's not just the "lazy, suck arse Americans".
Not everyone can be, or needs to be a nuclear physicist for the economy to
flourish. We still need people in every walk of life. I'm certainly not against
self improvement but we can't have a country of 500 million computer programers.
The issue lies elsewhere. In fact what's come to light more than being "out
teched" the bigger problem is the unskilled cheap labor but it's not about
complacency. The banks didn't begin to fail because we didn't take a few
extra classes.

Our current state of the economy can be traced to the crash of the housing
market. AND the left needs to stop the kool-aid and whinning about the war
(as far as the economy goes) The War was going on for years and the economy
was rolling. Like it not, the War promotes jobs, that's how we got out of the
great depression. It may be a trillion dollars actually putting people to work
and at least it's not a trillion health care dollars flushed down the toilet for nothing
(what, you think doctors need work)
Funny how this country survived for hundreds of years without socialized medicine
and now all of a sudden, when we are in the midst of economic crisis,
we MUST HAVE IT NOW. They're going to hit me for a an additional house payment
a month to pay for the worthless who contribute nothing (and they are going to do
it NOW, when I'M making less than I have in years)

Bill Clintons administration urged/demanded (whatever) housing loans be given
to people who could not afford it. (which translates into one huge arse
failed social program, RED FLAG PLEASE) The banks expect a percentage of defaults.
Couple that with the boom in housing and a lot people saw themselves getting
rich overpaying for property, flipping it and getting rich. It went on for a while,
then the wonderful media started printing stories on how it wont continue, and
"will the bubble burst", etc. This gave people pause...that pause made it difficult
to flip the houses, which started the spiral...downward. The defaults added to
the ever larger number of the defaulting lower income group, pushing the banks
over the percentage limit, causing collapse. Then the trickle down effect, Wall street, houses,
cars, and jobs...
Had the housing market continued...who knows, we still might be rolling today.

Unreal expectations...to own a house? People been doing that for decades...
Financing a car...again, for decades. Again not a problem IF YOU HAVE A JOB
I can't see a few credit cards throwing the entire world in financial cataclism.
Yeah, it would be nice to sit there debt free and just horde your money...
but that really doesn't do a whole lot for the economy either...spending does.

Wally world...ya know I remember Wal-mart having made in USA banners all
over the store a long time ago. Now again, you want blame, me per say, as
a shopper. I don't sit on the board and I didn't tell wal-mart to buy from China
IN FACT...I would gladly pay more for things and wish the entire store were
made in USA. I shop wal-mart cause I get everything there, not because
something is 25 cents cheaper than K-mart.

Personally, I think that's where the stimulas money should have went. Submit
a business plan, and you'll get a business loan to open a factory and hire some
people to make something. And shut off the import ship from China for a few years.
WOW...instant jobs, economy is booming again. (but instead we gave it to ACORN
so Obamanation can get re-elected)

I don't blame the Guberment what so ever, in fact...I want them to stay out
of my life and out of my pocket.

 

[Bosshound]

There is Plenty of Money Out there....................People Start Spending.........That is the ONLY WAY this Economy will Start Improving...........

Don't Be SCARED !!!!!!!!!!!!!!!!!

Economics 101 !!!!!!!!!!!

 

[chrisjp]

im going to buy me a gun or two...there im spending money and prepareing for the worse...lol

 

[Mr Brown]

These are cliche answers and not accurate. The economic problem is global.
Including the "technologicaly progressive countries", which somehow we do
not qualify for anymore. It's not just the "lazy, suck arse Americans".
Not everyone can be, or needs to be a nuclear physicist for the economy to
flourish. We still need people in every walk of life. I'm certainly not against
self improvement but we can't have a country of 500 million computer programers.
The issue lies elsewhere. In fact what's come to light more than being "out
teched" the bigger problem is the unskilled cheap labor but it's not about
complacency. The banks didn't begin to fail because we didn't take a few
extra classes.

Our current state of the economy can be traced to the crash of the housing
market. AND the left needs to stop the kool-aid and whinning about the war
(as far as the economy goes) The War was going on for years and the economy
was rolling. Like it not, the War promotes jobs, that's how we got out of the
great depression. It may be a trillion dollars actually putting people to work
and at least it's not a trillion health care dollars flushed down the toilet for nothing
(what, you think doctors need work)
Funny how this country survived for hundreds of years without socialized medicine
and now all of a sudden, when we are in the midst of economic crisis,
we MUST HAVE IT NOW. They're going to hit me for a an additional house payment
a month to pay for the worthless who contribute nothing (and they are going to do
it NOW, when I'M making less than I have in years)

Bill Clintons administration urged/demanded (whatever) housing loans be given
to people who could not afford it. (which translates into one huge arse
failed social program, RED FLAG PLEASE) The banks expect a percentage of defaults.
Couple that with the boom in housing and a lot people saw themselves getting
rich overpaying for property, flipping it and getting rich. It went on for a while,
then the wonderful media started printing stories on how it wont continue, and
"will the bubble burst", etc. This gave people pause...that pause made it difficult
to flip the houses, which started the spiral...downward. The defaults added to
the ever larger number of the defaulting lower income group, pushing the banks
over the percentage limit, causing collapse. Then the trickle down effect, Wall street, houses,
cars, and jobs...
Had the housing market continued...who knows, we still might be rolling today.

Unreal expectations...to own a house? People been doing that for decades...
Financing a car...again, for decades. Again not a problem IF YOU HAVE A JOB
I can't see a few credit cards throwing the entire world in financial cataclism.
Yeah, it would be nice to sit there debt free and just horde your money...
but that really doesn't do a whole lot for the economy either...spending does.

Wally world...ya know I remember Wal-mart having made in USA banners all
over the store a long time ago. Now again, you want blame, me per say, as
a shopper. I don't sit on the board and I didn't tell wal-mart to buy from China
IN FACT...I would gladly pay more for things and wish the entire store were
made in USA. I shop wal-mart cause I get everything there, not because
something is 25 cents cheaper than K-mart.

Personally, I think that's where the stimulas money should have went. Submit
a business plan, and you'll get a business loan to open a factory and hire some
people to make something. And shut off the import ship from China for a few years.
WOW...instant jobs, economy is booming again. (but instead we gave it to ACORN
so Obamanation can get re-elected)

I don't blame the Guberment what so ever, in fact...I want them to stay out
of my life and out of my pocket.

This a new level of fallacy, even for you. You pinned the blame for the economic collapse on Clinton, the news media, every country in the world except this one and what you call the "worthless class" of our society.
Either you have utterly no clue about how the world works, or you are a complete blithering idiot.
The poorest ALREADY have free health care dumbarse, that's not gonna change.
The banks were selling and re-selling the same mortgages HOPING that the value would catch up, that's what caused them to fail. The foundation was rotten, it was simply a matter of time until the roof came crashing down.
You're too lazy to go a couple of different places to get what you need from a store that has US made goods and you wonder why people can't find a manufacturing job?
WWII pulled the economy out of the crapper because we had to manufacture the weapons, supplies and transports needed. We have already got most of that built so that theory won't work either.
ACORN won't help get Obama re-elected, people like you being in the Republican party will.
Ignorance can be educated, but ya can't fix stupid.

 

[F=MA]

These are cliche answers and not accurate.

Thirty years ago, a high school dropout had a very high probability of being able to go to work in a factory earning wages that would allow him/her to be "middle class". Today that previously high probability has fallen to almost zero. For many people today, it takes two incomes to have a hope to achieve "middle class" status.

Much of this is simple math and simple economics. Americans demand as much value for their dollar as they can get. When people elsewhere are able and willing to provide equivalent skill levels for less, producing goods and services that can be economically transported, guess what happens?

In one paragraph you state you want the government to stay out of your life, yet in another you write, in effect, that you want the government to stop imports from entering the U.S. Which is it?

As for unrealistic expectations I read and hear people nearly every day complain about how they can't get ahead, they can't keep up. When low-skilled, mostly union, manufacturing jobs that once allowed workers to enter "middle class" status disappear because in large part Americans have demanded it through their voracious appetite for "deals", former workers in those industries start competing for lower paying jobs in the service industry. This places downward pressure on wages in those industries.

Expecting any nation to forever remain the dominant economic player in a global marketplace is not only unrealistic, it displays a complete ignorance of history...another subject in which we "historically" have not excelled.

Just because Americans have owned homes for decades doesn't mean it will always be that way. If you've ever traveled to a developing nation or a third world country, you'd realize we've had it pretty easy over here in a lot of ways. Hard work is not as exclusive to Americans as we like to tell ourselves.

The collapse of the housing market was not just driven by investors. It has also been driven by high debt loads of many homeowners, low savings rates (rates that have been near zero for quite some time) which cripple people's ability to cope with unexpected challenges, a banking system that lacked enough penalties to prevent excessive risk taking, and an energy price shock that caught unprepared, wasteful consumers off-guard.

Not everyone can be a nuclear physicist, a doctor, a computer programmer, but there's no reason every one of us can't be better tomorrow than we are today...we have to accept that is necessary to enjoy a better life tomorrow than we have today.

No one "needs" to finance a car if they take a little time to educate themselves about basic care and maintenance. I've financed only two of nine cars I've owned in my life...never again. Financing assets that historically depreciate is a prime example of the financial illiteracy our education system sends our graduates out into the world with.

Hoarding money is only done by people who stuff their cash in mattresses or buy gold long term. The rest of us who save in savings accounts, retirement accounts, and by investing in bonds and equities provide capital to finance economic growth. It takes both savers/investors and consumers to build a great economy.

Perhaps my answers are cliche and not accurate, but it is my belief based on my education, relatively extensive travel, and personal life experience that they are. I am the first to admit I am infinitely ignorant, but I am confident that I will have a better future by improving upon the issues I identified than by ignoring them and placing my future in the hands of "fate", "the government", "god", or "them".

You, of course, are entitled to apply your own philosophy while building your personal future. Regardless of outcome, I sincerely wish you the best.