nt

may wish to read this.

So all the reports of a worldwide recession because of the housing bubble collapse in the US are false. US Banks going belly up are a sign that things aren't that bad? Banks getting in trouble all over the world because of the stupid mortgages in the US, mortgages of the type that any 12 year old could tell you were an idiotic idea, are a sign that things aren't that bad?

"Americans are gosh darned productive"
Yup they are with more of them working more and more hours for less money, less benefits, less medical coverage and less job security.

Now I'm not in the US and I know that. Makes me wonder in what country Bird Dog is in. Bird Dog you really should spend a little time digging a bit deeper and perhaps also learn to look at the bigger picture.

Rising inflation? According to Bird Dog : no problem
Dollar sinking deeper and deeper? According to Bird Dog : no problem
Rising price of oil? According to Bird Dog : no problem
Yeh, it sure must be lies by the media and those damn lefties because everyone knows that U.S.A. is number 1 and doing mighty fine under the fine christian leadership by the surpreme genius George "w".

It sure is a good thing that we have an estate agent on this forum that has such clear grasp of the economy and the state it is in. One shudders to think that someone on here would post humbug based on faith, hearsay and disinformation.

Also, that 1% of people who've gotten 75% of the income gains over the last 8 years?

They all live in blue states. Go ask the typical voter in a swing or red state what they think of the economy. Meanwhile, the knowledge workers in NYC, Boston, Chicago, LA, etc are indeed doing fine in this economy. At least there's that.

The US economy remains very strong and resilient but I don't think people have negative views on the economy due to what politicians say. It's based on the real conditions of their lives.

This place is my vacation.

Angry John thinks:

“Washington’s broken; John McCain knows it. We’re worse off than we were four years ago. Only McCain has taken on big tobacco, drug companies, fought corruption in both parties. He’ll reform Wall Street, battle Big Oil, make America prosper again.”

I guess McMaverick hasn't seen the latest per capita GDP numbers.

He is also flip flopping on his stance that we are "better off" now than we were before the Bush/Cheney years. LINK

But she's a queen, and such are queens
that your laughter is sucked in their brains. -D. Bowie

The dollar fell yet our economy grew? The dollar falling might make some products more expensive for consumers, but it actually helps the economy by boosting the export sector.

Also, Wall Street and most economists were disappointed by the 1.9% 2Q growth rate. Given the huge stimulus that had been injected into the economy, the consensus estimate was around 2.3%.

Finally, we are seeing mortgage delinquency rates growing among non-subprime mortgage holders and property prices continuing to drop. Until real estate hits bottom, we won't know the liabilities of the financial sector, and until we know the liabilities of the financial sector, the credit system won't start flowing. And there are very many vicious cycle potentialities.

I'd expect a long slow-down and a slow recovery from it.

More Wagster!

It almost makes it sound like people's incomes are increasing when in fact just a tiny number of people's incomes are skyrocketing.

But the damn Democrats have people convinced that median incomes are, you know, flat. While prices, cost of healthcare, and fuel costs are skyrocketing.

Thanks for the great news.

Before you criticize someone, you should walk a mile in their shoes. That way when you criticize them, you're a mile away and you have their shoes. -JH

"All that economic down-talking by Democrats appears to have paid off."

Anyone who has to go to the grocery store can tell you, they didn't need the Democrats or any else to point it out.

Wages haven't gone up, but the price for a loaf of bread certainly has.

Frankly it's insulting to the majority who live in an economy that has seen good paying jobs disappear at alarming rates and real wage increases unable to keep pace with the ever rising expenses of the average family. I dearly hope the McCain campaign takes onboard your call for more such 'floats all yachts' boosterism lauding the Bush economic miracle.

Please, please, pretty please.

GW Bush, leading contender for worst President ever.

Any way you can convinced the McCain campaign to run on these rosy scenarios? Thanks in advance!

To think is not enough; you must think of something -- Jules Renard

I was going to respond to your diary and then I noticed you used a quote from me as your sig line. I am flattered. Thank you.

Re: the diary

GDP is the wrong measuring stick to use if you want to understand why people are down on the economy. Median income, household spending, gas prices, debt load, housing liquidity, unemployment rates, etc., etc. are more relevant statistics if you want to understand why individuals are nervous about the economy.

Also, while things in Seattle may be going well, things in OH, MI & LA might not be going so well.

But she's a queen, and such are queens
that your laughter is sucked in their brains. -D. Bowie