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  1. #1
    Head Skivvie Stacker Storekeeper's Avatar
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    The strongest economy in the world

    "The American economy is the strongest in the world and growing faster than that of any other major industrialized country. It grew at an annual rate of 5.3 percent in the first quarter -- the fastest growth in 2 1/2 years. It has added more than 5.3 million jobs since the summer of 2003, and employment is near an all-time high. The unemployment rate (4.6 percent) is well below the average for each of the past four decades. Mortgage rates remain near historical lows, homeownership remains near a record high, and sales of new and existing homes reached record levels in 2005. Real disposable personal income has risen almost 13 percent since President Bush took office; and core inflation rose just 2.3 percent over the past 12 months. The Dow Jones industrial average has risen from under 7300 in 2002 to above 11,000 for most of this year. Tax revenues are at an all-time high -- and so is total household net worth."

    And that is not the only good thing to be said about the good ole USA. More here:

    http://www.washingtonpost.com/wp-dyn...060400781.html

  2. #2
    Thailand Expat
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    now your just trolling!

  3. #3
    Head Skivvie Stacker Storekeeper's Avatar
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    Sometimes I troll kingwilly. But this isn't one of them.

  4. #4
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    well you gotta be kidding then - the USA ecomomy has been running on over drive for a number of years now, the dollar is due for a sharp correction, the size of the foreign debt is ballooning,

    theres no way i woudl put money into dollars at this moment in time.....

  5. #5
    Thailand Expat
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    and the washington post as a source .... hardly objective...

  6. #6
    Head Skivvie Stacker Storekeeper's Avatar
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    The lower the dollar is the better it is for the US economy. It sucks for people like me ...

  7. #7
    Thailand Expat
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    agreed - in the short term - but the reality is if the dollar dives - then much of the rest of the world will get dragged into the mess ala asian 1997 meltdown.

    it ends up being bad news for all of us...

  8. #8
    Head Skivvie Stacker Storekeeper's Avatar
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    I think you're on the right track. And the US economy may have some problems around the corner. But in the last decade and up until to date ... it's just percolating right nicely.

  9. #9
    I am in Jail
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    Well if it wasn't for Clinton boom years, there wouldn't be much left of good old USA today

  10. #10
    Head Skivvie Stacker Storekeeper's Avatar
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    There were no boom years under Clinton. Ole Bill rode the coat-tails of Reagan. Clinton was great because he knew that and was a good caretaker.

  11. #11
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    ^ hahaha !!! and you said you were no NeoCon. Typical. So how do you explain Bush Sr ? was he also surfing on the coat-tails of Reagan ?

  12. #12
    Head Skivvie Stacker Storekeeper's Avatar
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    He sure was ... Bush Sr was Reagan's lapdog.

  13. #13
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    I like the way the US agencies fiddle their figures.

    SK, you know damn well most of those figures in the WP are complete BS!!

    Funny though! Keep up the good work...

  14. #14
    I am in Jail
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    I think you forgot the recession of the early 90s under Bush Sr when he fucked up the economy badly and created a huge deficit. Why do you think he lost ? Even your God Reagan disapproved of him.

  15. #15
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    Good economy? = My salary (USD) change to Baht = - 8% ??? Not good for me!

  16. #16
    disturbance in the Turnip baldrick's Avatar
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    household net worth - how much of that is based on over inflated house prices?
    and does the net worth include mobile phone debt?

  17. #17
    I don't know barbaro's Avatar
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    Presidents do not have much control over the U.S. macroeconomy

    H. Bush and Clinton did not follow the coat-tails of Reagan nore any other President before them.

    The economy in the 1990s adapted and changed significantly from that of the 1980s.

    Congress, also only has an affect on certain industries of the U.S. Macro-economy.

    Consumer spending is 2/3 of the economy in the U.S.

    So toss the politics and focus on interest rates, CPI (which measures inflation) and the per capita debt ratios, and PPI (production price index).

    Inverted J-curve? Probably doesn't forecast much, but it shows how things could look someday.

  18. #18
    Head Skivvie Stacker Storekeeper's Avatar
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    I just love your cut and paste post style. I'm sure you fool alot of people.

  19. #19
    I don't know barbaro's Avatar
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    Quote Originally Posted by Storekeeper
    I just love your cut and paste post style. I'm sure you fool alot of people.
    I don't know if you're referring to me, but I haven't cut and pasted in a while.

    The post above your, is not a cut and paste.

    My words, and my words only.

  20. #20
    Head Skivvie Stacker Storekeeper's Avatar
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    I realized how stupid my post would make me look after I posted it ... I figured I'd leave it there anyway for comic relief from two of my buddies.

  21. #21
    I don't know barbaro's Avatar
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    Good, dodge.

    The economy is too complicated and globally interdependent to focus on the Executive and Congressional branches.

    The fact that many Americans believe it, is the result of Old Style political campaigning.

    When the economy is good, the incumbant takes the credit (that's usually undeserved)

    When the economy is bad or weak, the incumbant takes the blame, usually undeserved.

    At the Executive and Congressional levels.

  22. #22
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    Quote Originally Posted by Milkman
    The fact that many Americans believe it, is the result of Old Style political campaigning.
    North Koreans also believe they live in the world's greatest country.

  23. #23
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    ^ actually Cuba claims to have the world's best economy. And so did the USSR just before they collapse.

  24. #24
    Head Skivvie Stacker Storekeeper's Avatar
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    Quote Originally Posted by Milkman

    The economy is too complicated and globally interdependent to focus on the Executive and Congressional branches.
    You still aren't going to convince me that Presidential policies don't have an impact on the economy. That's horseshit. How do you explain away tools like tax cuts to have an effect of the economy ?

  25. #25
    Member Sanuk Canuk's Avatar
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    Tax cuts without the required program cuts to fund them just move the problem around. Runs up the debt but folks don't notice right away, a nice placebo(sp) cure. Spending money in areas that don't return wealth is one way bad policies impact the economy. Ineffective military spending, pork barrel infrastructure projects would both be examples of this.

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