the economy

[joekerr31]

take the poll... what do you guys think the next 2 years will hold.

 

[bigjohnson]

Poll?

 

[Booblepook]

I don't know about two years my man. But this month of February was absolutely crappy. I lost a business, and now making nothing..

My friend's company is taking a dive too, a lot of cuts, my friend is barely hanging on to his job..

It's hard to say about the next two years, but I can guess.. Our economy will continue to take a dive, past presedential election, it will still be diving.. Then it is up to the next president to make it better..


I hope democrats win.. It was so much better during Bill Clinton, we had like the best economy ever! I want Bill Clinton back in the oval office.

 

[joekerr31]

Poll?

haha you guys replied before i posted the poll its up now.

 

[JLR]

I've lost so much in the market the past 90 days that I might have to eat strictly Ramen noodles for a month... In all seriousness, I'm so glad I'm not like some people (idiots) I know who stupidly financed mortgages @ 120%, w/ interest-only payments for the first 5 years...those people are losing their homes as I type this. They're the same people who lease 5 series BMW's & live off credit cards for all but the most basic of things. Bernanke's path of bailing people out is giving people no reason to change their ways. (I know, a MAJOR over-simplification of the larger problem)

 

[joekerr31]

I've lost so much in the market the past 90 days that I might have to eat strictly Ramen noodles for a month... In all seriousness, I'm so glad I'm not like some people (idiots) I know who stupidly financed mortgages @ 120%, w/ interest-only payments for the first 5 years...those people are losing their homes as I type this. They're the same people who lease 5 series BMW's & live off credit cards for all but the most basic of things. Bernanke's path of bailing people out is giving people no reason to change their ways. (I know, a MAJOR over-simplification of the larger problem)

but a good summary

its really no more complex than the individual who has 10 credit cards maxed out and who try to carry the debt by paying interest until the day they die.
bernanke's solution is to simply add an 11th credit card.

i do believe we will see a rebound towards the end of 2008. i think if the democrates win, while it won't change the numbers, it will give people hope (and that's half the battle, counteracting the fear of a recession/stagflation/depression).

 

[j-flex]

I don't know about two years my man. But this month of February was absolutely crappy. I lost a business, and now making nothing..

My friend's company is taking a dive too, a lot of cuts, my friend is barely hanging on to his job..

It's hard to say about the next two years, but I can guess.. Our economy will continue to take a dive, past presedential election, it will still be diving.. Then it is up to the next president to make it better..


I hope democrats win.. It was so much better during Bill Clinton, we had like the best economy ever! I want Bill Clinton back in the oval office.

actually it was with ronald reagan.

you see, if companies get to pay higher taxes they wont invest in america, which wont produce more jobs.

if they make more welfare programs, that means you'll have to pay more taxes whether you like it or not which will make you to live worse.

a bigger government equals more power to them to run your lives.

dont believe that the government have the solution to our problems. thats demagogy.

come on people! i thought americans were smarter than that!.

read some Milton friedman, Hayek, Von misses, and see their ideas implemented in countries like: Ireland, Estonia, Chile, Hong Kong etc.

 

[Bonhomme]

I live absurdly frugally (how low my mortgage payment is would make most people in places like California want to kill me), have no car payment, make a decent income, and still have a hard time getting ahead with my finances.

Something really ain't right, at least here in the States. C is the best answer.

 

[Bonhomme]

BTW, since Reagan wealth has been steadily transferred from those who have the lowest incomes to those who have the highest. The overall wealth may be increasing, but so has been the "misery index." Some "prosperity"!

Do not take this to imply I support more government interference in people's lives. More like different. Fact is, a great deal of that government influence has served to hold back individual enterprise in favor of the gigantic corporate monopolies whose interests those who give lip service to "free enterprise" really represent.

Consider the fact that a small business owner who makes $10,000 per year (poverty level) is taxed at a higher rate than many billionaires, thanks to the ultra-regressive "self-employment tax."

 

[joekerr31]

i dont know how people with kids are getting by. or guys with a wife that doesnt work.

 

[SmoothTalker]

I say we figure out whatever made the Western world tick in the 50's and 60's, and bring that back.. More kids perhaps? Another Arms race?

I know part of the reason people struggle more with money now is that we do by more useless stuff than back then, ie one car and one tv were the norm.

But even still, we are more educated, more skilled, have more supposedly helpful and productivity boosting technology, and yet I think there's an undeniable sense that we continuously have to work harder and benefit less.

 

[Bonhomme]

... or perhaps simplifying things a bit?

I think the multiplication of artificial "needs" has impoverished us as far as our real needs go.

 

[Teflon_Mcgee]

Personally, I'm not worried one bit. Smart people who seek answers and think ahead will always be all right no matter the economy.

It's only the type of people who spend 60% of their income on a fancy car and the rest on a house they knew they couldn't afford when they bought it.

Those of us with a little patience, no sense of entitlement, that want to learn how and implement success, and are willing to make a little sacrifice will prosper regardless.

 

[KarmaSutra]

What I know is that in the last 8 years our economy has been a bigger drop in the toilet than when Clinton was running things.

No one can deny that.

Gas was $.88 a gallon and I didn't have hypocritical Republicans telling me that watching porn will stunt my growth while they're out tapping thier toes in mens bathrooms. And Clinton smoked pvssy dipped cigars, which is something I can relate to and appreciate .

 

[tj]

actually it was with ronald reagan.

you see, if companies get to pay higher taxes they wont invest in america, which wont produce more jobs.

if they make more welfare programs, that means you'll have to pay more taxes whether you like it or not which will make you to live worse.

a bigger government equals more power to them to run your lives.

dont believe that the government have the solution to our problems. thats demagogy.

come on people! i thought americans were smarter than that!.

read some Milton friedman, Hayek, Von misses, and see their ideas implemented in countries like: Ireland, Estonia, Chile, Hong Kong etc.

Well, we can't keep printing money or borrowing it from China. OR paying for the war for that matter. Being the world police officer isn't going to help us with our domestic issues.

On the liberal side. We can't afford to pay for universal health care either.

 

[Señor Fingers]

The solution to economic drag is to

• Make sure that the middle class is well paid and spending money. (Tax cuts for us and tax hikes for the wealthy)
• Put heavier tariffs on foreign goods so our products can compete
• Keep more businesses private so that their owners control things and not the shareholders
• Regulate interest rates so we dont see this massive inflation for mortgages and loans.
• Get rid of politicians who serve rich lobbyists more than the american people
• Conserve energy and find new ways to create it (future economic boom, mark my words)

By far the biggest contributing factor to the current rut is the increasing wealth of the filthy rich at the expense of your average joe. The lines between lower and middle class is starting to get fuzzy because you can only squeeze so much juice out of a lemon. I'd REALLY like to see the rich get the type of tax hikes us poor suckers have had to deal with for decades. Cut us a break ya bastids! :cuss:

 

[j-flex]

Tariffs are bad ideas, all they do is increase the price of our domestic goods to match the world price. They have a comparative advantage, and we should be realistically buying from them.

http://economics.about.com/cs/taxpolicy/a/tariffs_3.htm

totally agree.

señor fingers, you should look more deeply at what you say, because it has long time consequences.

study some economics like i said before.

Government shouldnt tax low income and neither high income people.

you see, the "big corps" are the ones who pay better wages and have better working conditions, if the government tax them, they would move to a country where they have more incentives and lots of americans would lose their jobs.

If you put heavier tariffs, you only make certain sectors to become inefficient because they dont have to compete, and american people will be losing because now they would have to pay MORE for the products they WANT to consume. for example, if you want a lb of bananas now that were 1 buck, now you'll have to pay 2 bucks or more, no big deal huh, but now imagine you want a toyota, it will be very expensive.


I agree about getting rid of politicians lol, but you gotta understand that they are not saints nor aliens, they are simple humans, and they serve their own purpose while they were suppossed to serve for the people. this is the Invisible Hand of corruption.

Companies and "rich people" do not exploit the workers, thats a fallacy, nobody has a weapon on your head making you work for them, you are FREE TO CHOOSE.




People have to understand that THE ROAD TO HELL is paved with good intentions.

 

[ready123]

I'm curious what you guys do for a living

 

[Trinitron]

during Bill Clinton, we had like the best economy ever!

Not to mention he was a complete badass.

 

[Señor Fingers]

Wow, thanks for the enlightening me on tariffs yall. I was convinced that foreign products were cutting into our profit margins but now I see the bigger picture.

I still stand by my other points though, and firmly disagree with the stance that rich companies don't exploit workers. To me thats a no-brainer, but it's really a subjective argument and one we probably wont resolve so I will just move on to something more interesting you said:

Government shouldnt tax low income and neither high income people.

Are you saying that we shouldn't be taxed at all? I'd love for you to expand on this a bit.