Economy Doing Good...

Posted:
in General Discussion edited January 2014
I dislike Bush as much as the next person, but why is everyone saying the economy is bad? I know there are some jobs that are lost, but I was looking today and was shocked to see here that it says the Real GDP is like 4%! That is impressive. That coupled with inflation being only 1.9% I don't see how the economy can be doing bad. So am I missing something or is it just something to argue over brought up by the election stuff?
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Comments

  • Reply 1 of 22
    dviantdviant Posts: 483member
    Quote:

    Originally posted by ast3r3x

    or is it just something to argue over brought up by the election stuff?



    /me hands ast3r3x a cookie for getting the correct answer
  • Reply 2 of 22
    wrong robotwrong robot Posts: 3,907member
    Quote:

    Originally posted by dviant

    /me hands ast3r3x a cookie for getting the correct answer



    /me hands dviant a cookie for posting what I was going to post, but before me, saving me a little effort.
  • Reply 3 of 22
    thttht Posts: 4,040member
    Quote:

    Originally posted by ast3r3x

    I dislike Bush as much as the next person, but why is everyone saying the economy is bad?



    Can you help my wife get a job? Hiring seems to be very tight right now. If you are not an exact fit for a job position, the odds of getting hired aren't very good.
  • Reply 5 of 22
    Quote:

    Originally posted by ast3r3x

    I was looking today and was shocked to see here that it says the Real GDP is like 4%! That is impressive. That coupled with inflation being only 1.9% I don't see how the economy can be doing bad.



    The 4% was GDP growth in Q403...this growth (in fact most of the GDP growth we saw in 2003) was spurred by increased spending (post tax cuts) and by military spending. For example, in Q203, in dollar terms, GDP grew by about $100 billion. Around $45 billion of this was money spent on the war. Some may argue that the Bush administration was right to spend the budget surplus in order to boost the recovery...others may argue that it is a short term measure that does nothing to speed recovery but rather creates a distortion during the period of increased spending.
  • Reply 6 of 22
    Double post
  • Reply 7 of 22
    naderfannaderfan Posts: 156member
    The economy itself is doing well, the problem is that jobs have not been growing as much. However, I think we're at 5.6 or 5.7% unemployment, which isn't bad, considering that full employment is 5%. But after the boom of the 90s, people are used to better. The simple fact remains: In politics, esp. during elections, the big picture doesn't matter. It's how well an individual feels he or she is doing. You can argue until you're blue in the face that higher taxes are necessary or benefits may need to be cut because of a coming flux of retirees and you'd be right but no one will vote for you. See Mondale v Regan election for proof.
  • Reply 8 of 22
    ast3r3xast3r3x Posts: 5,012member
    mmmmm....cookies.



    I don't get how the economy can be doing so well but jobs be so tight. I always thought good economy went hand in hand with employment, but I guess not.
  • Reply 9 of 22
    randycat99randycat99 Posts: 1,919member
    Companies are running "lean" and cautious, right now. That's going to leave a certain percentage of people out on the street, unfortunately.



    The economy may be doing good, but that doesn't mean it is "booming". When it is booming, that is when I believe you find the times of "rampant employment". Employment isn't like an on/off switch wrt economic state. It gets better in response to how close the economy is to being "on fi-yah". It's not there, yet, but I believe it will get there eventually on our current tract. So the legions of unemployed just have to ride it out in the meantime (and find short term work in alternate venues, if possible).
  • Reply 10 of 22
    The economy is doing good because people are buying shit...on credit...because they have no cash...consuming jumkies.



    MY economy sucks Janet's pierced tit. Can't find anything in my field and still working retail @ shit wages.



    The economy is only doing good for the rich, the lucky and the ones who don't know better about their credit limits.



    Dumbass sheep.



  • Reply 11 of 22
    scottscott Posts: 7,431member
    Antidote rules the day! I'm not buying anything on credit. I just bought a washer/dryer cash. Made sure to find the 100% commission sales guy that we talked to months ago. Dropped a bunch of money in Chicago last weekend some of which went to "the arts" Oh and I paid off my credit cards (well my wife's ) months ago.



    And I ride the bus to work
  • Reply 12 of 22
    scottscott Posts: 7,431member
    Oh and my poor old brother that has been out of work for months has had more job leads in the last two months combined than in the previous 4.
  • Reply 13 of 22
    wrong robotwrong robot Posts: 3,907member
    I got my first credit card(student dealie) I have been scared to use it, I don't want to have that looming "buy now, pay later" feeling. It's like procrastination, which I excel at. I don't think I'd be very responsible with a credit card.



    nah, okay that's not true, but I still don't really like 'em that much. Unfortunately, it seems like so much of our economy is set up around credit. Your credit rating can determine what you can and cannot buy(houses, cars...etc.) at least, from what I understand. Of course, that's on credit, but...augh.



    this stuff is too much for me just now, I should really hit the books on economics.
  • Reply 14 of 22
    progmacprogmac Posts: 1,850member
    Quote:

    Originally posted by Wrong Robot

    I got my first credit card(student dealie) I have been scared to use it, I don't want to have that looming "buy now, pay later" feeling. It's like procrastination, which I excel at. I don't think I'd be very responsible with a credit card.



    nah, okay that's not true, but I still don't really like 'em that much. Unfortunately, it seems like so much of our economy is set up around credit. Your credit rating can determine what you can and cannot buy(houses, cars...etc.) at least, from what I understand. Of course, that's on credit, but...augh.



    this stuff is too much for me just now, I should really hit the books on economics.




    My friend from Cameroon finds it hilarious that to have good credit in this country you must be in debt. However, simply having a credit card is good if you want to build credit. If you have a card run responsibly for 5 years, your credit will start out in very good shape.



    I spent most of college in credit card debt. It hurt my quality of life considerably. Whatever you do, don't fall in the "I'll pay it off when I make money" trap. Trust me, it will loom over your head for years.
  • Reply 15 of 22
    groveratgroverat Posts: 10,872member
    WR:



    Don't do it. Do not do it. It is not worth it. Get a part-time job scrubbing floors first. Credit cards will make your life hell. I fell into that trap because my parents are first-rate financial dumbasses (I will be my family's first ever college grad) and I never learned anything better, luckily I learned the lesson when my first bill came.



    Big Business wants to get you in debt quick and live off the interest, don't do it. Don't do it.
  • Reply 16 of 22
    wrong robotwrong robot Posts: 3,907member
    And this is why I'm so scared of them! ha. thanks for the warnings guys
  • Reply 17 of 22
    randycat99randycat99 Posts: 1,919member
    Just want to make a quick point of information- being in debt does not give you good credit. Paying off your debt gives you good credit. Doing it many times and showing consistency builds that credit. It's like anything else where you demonstrate that you can handle a financial affair responsibly and predictably which in turn builds your credibility to handle larger financial affairs. It's not a sinister operation in of itself, imo. It is simply an avenue that can either give you a foothold in a money-oriented society or it can burn you good. Which one happens is entirely dependent on the skills and principles of the person.



    FWIW, I, too, had credit cards through college. I built up some debt over that time. Over time, I paid them off. I never had a delinquent payment or forfeiture. I managed my finances responsibly, and the reward is credit that CC and loan companies die for.
  • Reply 18 of 22
    naderfannaderfan Posts: 156member
    I've had a credit card for a long time now and have always paid off the entire sum each month. That's the trick-making sure you never spend more than you actually have or know for sure that you will have within two weeks. I have a campus job, but I only get paid on the 10th of every month, so I usually have to use my credit card. But I know how much I'll make on each pay check, so I balance it out. If you pay the whole thing (not just the minimum balance) you don't get charged interest and you also build a good credit rating. But it's tempting to go all out, especially when you're a poor college student.
  • Reply 19 of 22
    wrong robotwrong robot Posts: 3,907member
    Quote:

    Originally posted by Naderfan

    But it's tempting to go all out, especially when you're a poor college student.



    Like my roommate. I think he's taken out 3 massive loans, with another one pending. He spends it all, then takes out another loan. I don't know enough about loans to know if this is a good idea. But it certainly doesn't seem like one. Seems like the type of thing that will lead him into debt for the greater part of his life. \
  • Reply 20 of 22
    jubelumjubelum Posts: 4,490member
    Long Lobot...



    I love you man. DON'T DO IT. I could tell you horror stories of how fast it happens once you carry a balance.
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