New Poll: ZERO PERCENT say economy is getting better

desertrat

desertrat

Well-Known Member
anybody who reads my posts knows i take on the repubs regularly, but really now guys - a poll has nothing to do with how the overall economy is doing. also, the people who answer those polls are the ones who have a vested interest - like those out of a job.

right now the overall economy is doing pretty well. granted, the crisis in the mortgage market is likely to spread and contribute to a recession in the next few months, but that is not a certainty and it doesnlt mean today;s economy sucks.

now if you wanted to talk about the decline in real income of the average american, then i think you;d have a better argument against the repubs.
 
medicineman

medicineman

New Member
You're definently right about vested interest, thing is, more and more people have that vested interest. A year ago I thought we were secure in our financial wellness. Today the fear is creeping in. I seriously doubt I'm alone on this. I believe there are Millions that are one paycheck away from financial disaster, I'm not quite that bad off, but if my wife would lose her job, we'd be finished. My wifes boss is selling his Utah mountain cabin, a gorgeous place. He has 400K+ invested and wants 800K. The thing is, the super rich could snap that up in a hgeartbeat, so it will probably sell fast. Recession/Depressions are great for the super rich, they just buy up all the bargains and add to their wealth. When the depression is over, they sell everything back for a gynormous profit.
 
desertrat

desertrat

Well-Known Member
medicineman said:
Recession/Depressions are great for the super rich, they just buy up all the bargains and add to their wealth. When the depression is over, they sell everything back for a gynormous profit.
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sounds like a winning formula for everyone. if we weren't such a consumer society we would have saved for a rainy day and all have money to invest during a downturn if we were so brave. truth is the rich are just as scared of recent developments as the poor so i'm not sure they will be taking much advantage of this situation.
 
medicineman

medicineman

New Member
desertrat said:
sounds like a winning formula for everyone. if we weren't such a consumer society we would have saved for a rainy day and all have money to invest during a downturn if we were so brave. truth is the rich are just as scared of recent developments as the poor so i'm not sure they will be taking much advantage of this situation.
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Well, if they have holdings in the sub-prime arena, they should be worried. But the Super rich, are protected at every turn. BTW. Most lower class workers, Under 40K a year, are unable to save anything, in fact, most of them are so fucked with credit card debt, they can't pay the mortgage and the card debt. A lot of people took seconds out on their homes to pay off the credit cards and are now stuck with double house payments while the value of their home continues to tumble. This was all instigated by low interest and greedy consumerism, hungry loan officers and stupidity. Just about everyone has some guilt in this meltdown. But as always, they are talking about a cure from the top down. Isn't it about time they had a bottom up revision?
 
GrowRebel

GrowRebel

Well-Known Member
desertrat said:
right now the overall economy is doing pretty well. granted, the crisis in the mortgage market is likely to spread and contribute to a recession in the next few months, but that is not a certainty and it doesnlt mean today;s economy sucks.

now if you wanted to talk about the decline in real income of the average american, then i think you;d have a better argument against the repubs.
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The overall economy is doing well for who? Certainly not the average american ... I just can't see how that could be with a declining dollar and so much debt ... I can see the economy going good for corporations ... is that who you speak of?:neutral:
 
GrowRebel

GrowRebel

Well-Known Member
As far as this issue ... the media has been playing down the depression ... the high unemployment ... so no propaganda here ... people are responding accorrding to their pocketbook ...
 
desertrat

desertrat

Well-Known Member
GrowRebel said:
The overall economy is doing well for who? Certainly not the average american ... I just can't see how that could be with a declining dollar and so much debt ... I can see the economy going good for corporations ... is that who you speak of?:neutral:
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the overall economy is the overall economy, to state the obvious, not a single sector like employment or real estate. the overall economy is still growing at a good rate, although that;s about to end. the plight of the american worker is a different story and that;s why i said it was a legitimate point to knock the repubs with their declining real income



medicineman said:
Well, if they have holdings in the sub-prime arena, they should be worried. But the Super rich, are protected at every turn. BTW. Most lower class workers, Under 40K a year, are unable to save anything, in fact, most of them are so fucked with credit card debt, they can't pay the mortgage and the card debt. This was all instigated by low interest and greedy consumerism, hungry loan officers and stupidity. J
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see, we agree, its the people's fault who decided they wanted that second car, second tv set, second everything. unless you;re about to say that companies are responsible for consumer behavior just because they advertise stupid products or to make silly decisions. who decided to get these home equity loans, anyway?
 
TheBrutalTruth

TheBrutalTruth

Well-Known Member
desertrat said:
the overall economy is the overall economy, to state the obvious, not a single sector like employment or real estate. the overall economy is still growing at a good rate, although that;s about to end. the plight of the american worker is a different story and that;s why i said it was a legitimate point to knock the repubs with their declining real income


see, we agree, its the people's fault who decided they wanted that second car, second tv set, second everything. unless you;re about to say that companies are responsible for consumer behavior just because they advertise stupid products or to make silly decisions. who decided to get these home equity loans, anyway?
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1 Car, an apartment, and consistently investing more and more.

Though I have to admit that I like my little luxuries, like my book collection, my dvd collection, my road trips to visit friends or family, and my vacations, but any one with any intelligence understands that the only way to prepare for a famine is to save during the times of feasting, and that is what I have been doing.

Last year I saved 8% of my net income (pay less taxes).
This year I'm looking at saving another 8%, and for the next two years probably even more.

Though to say its just the rich that are buying distressed assets is incorrect. I'm hardly what you would call rich, and I am buying up shares left and right, because eventually the economy will turn around.

Of course... the end of consumerism would be bad for a lot of people (the ones employed by the companies that make all the inane insipid baubles that everyone wants). I just wish Social Security would be privatized so I could add that money to my retirement/investment funds.
 
desertrat

desertrat

Well-Known Member
TheBrutalTruth said:
1 Car, an apartment, and consistently investing more and more.
.
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the country needs more people who take that approach and fewer who count on miracles (government, rich relatives, the lottery, etc) to bail them out of their own bad decisions.

watch out on those distressed equities - the market will come back but individual companies are at risk. why not do index funds??
 
TheBrutalTruth

TheBrutalTruth

Well-Known Member
Control, I personally trust my own ability to manage my assets better than any one else, besides the load on most of those index funds greatly exceeds the cost of doing it myself.
 
ViRedd

ViRedd

New Member
Its not just "the rich" who are taking advantage of the economy. People like TheBrutalTruth are too. Hey, he's saving his money ... and like him, others are as well. There are BARGAINS galore out there in the real estate market available for a very small (3%) down payment using FHA insured financing ... and zero down using VA financing. The majority of our sales today are coming from young couples who have saved up a little bit and who are tired of giving the landlords all the benefits of home ownership. Its always my pleasure to lead the way for them. :)

Vi
 
TheBrutalTruth

TheBrutalTruth

Well-Known Member
I like being able to pick and choose what companies I invest in, or don't invest in. Also, I'm gathering experience in evaluating companies, because I'm hoping to do a little short term speculating in addition to investing regularly.
 
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