Quote:
Originally Posted by Norton  But not to worry. Don't pay any attention. "The fundamentals of the economy are sound" according to GWB and McCain. |
The housing market is in the dump, and many financial institutions are a rigth mess. But many of the economic fundumentals are actually pretty sound. This is not to say I agree with having McCain say they are sound, when the press is all over the situation with the financial institutions, the housing market, and the market losses.
While inflation is up, it actaully dropped recently (and I expect it to continue to drop as long as the price of oil stays below $100 per barrel), unemployment is up but still not really bad it's less than 7% (I think anything below 10% is OK, below 7% is good, and anything below 5% is hard to maintain), GDP is up over 3% last quarter, and it's not like the US productivity is in the shitter either.
Sure it's not a rosey picture in some areas, but the current fundamentals really are not bad. Could they be better? Sure...
Edit in: Pretty easy to try and blame GWB for any bad economy, but he does not govern in a bubble. Congress has a hand in things as well. Plus, look around the world, not many places in the developed world that have fundamentals that compare with the US right now.