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popeye1250 -> RE: How's the economy? (10/14/2006 4:10:21 PM)
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quote:
ORIGINAL: UtopianRanger
quote:
ORIGINAL: Chaingang
All of the indicators have been gamed to make things look good - that tells me that everything is actually shit. If it were otherwise, they wouldn't have to rig the results they would have gotten normally.
People see what they want to see when they have a vested interest in a certain segment of the economy. This is perhaps my favorite subject…so I like to rely on identifiable raw numbers, which translate into cold hard facts.
Probably the most tell-tale sign that gives one a true inside-look of what’s to come in the future is a recent statistic {reported in the Economist} which says : Over the past four years, consumer spending and residential construction have accounted for ninety-percent of GDP growth – That would seem to suggest that folks who are borrowing against a fictitious, appreciated book value in their homes, are in large part responsible for most of the growth in the GDP.
What this means to me.... is the greatest industial revolution ever experienced on this planet has been surplanted by a bunch google-eyed bow-tie wearing, lawyers and bankers that make money by manipulating other money. We no- longer produce anything of value - And its going to come back to haunt us in the near future.
- R
Ranger, I've been saying that for years!
When you have more lawyers and bankers than Plant Managers there's trouble ahead but all the people I tell that to keep touting the "Global-Economy" and how "great" it is.
For every 100,000 blue collar workers we lose we also lose 30,000 white collar workers as well.
It's "great" because you can buy cheap junk made in China or India or Taiwan?
The average worker in this country should be up to about $26-$30 per hour by now compared to the 70's but they're not.
This is only going to lead to trouble.
If we don't get good paying manufacturing jobs back into this country again we're not going to have a reccession we'll have another depression in this country again.
You can be so "efficient" that you put yourself out of business!
All these companies that outsorce jobs overseas still want access to the U.S. Market though, don't they?
Here in Myrtle Beach, S.Carolina where I live the economy is very good!
But that's because we have so many people moving here from other states, many of them retired with good pensions and a lot of $financial assetts who sold their houses up North and are buying houses and condos here.
This real estate market has slowed a bit but only in the rate of appreciation.
Last year Real Estate prices appreciated about 38% but this year they're only up by about 8-10%.
Prices are still going up but from a very low level previously.
A 3 b/r 2 bath 1300 sq. ft condo here goes for about $160k as opposed to $400-$600k in Boston or N.Y. so housing of any kind here is a relative bargain compared to other places and people have found out our little secret here.
They're even having shortages of Firefighters and Police Officers here as well as Nurses of course.
They just had an interview with a local Fire Cheif about personel shortages last week and the growth of this area on the local news.
There's a LOT of money comming here!
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