8/9/2015 1:03:15 PM
alls_fair Thorlákshöfn Iceland 95, joined May. 2011	WASHINGTON (AP) — U.S. consumer borrowing hit another record in June, good news for the American economy. Americans piled on another $20.7 billion in debt in June, bringing total consumer borrowing to a record $3.42 trillion, the Federal Reserve reported Friday. In June, borrowing in the category that includes auto and student loans rose by $15.2 billion. Borrowing in the category that includes credit cards rose by $5.5 billion. The Fed's monthly report on credit does not cover home mortgages or other loans secured by real estate such as home equity loans Economists expect consumers to borrow and spend more the rest of the year. That would boost growth in a country where consumer spending accounts for nearly 70 percent of economic activity. The American economy grew at annual rate of 0.6 percent from January to March and 2.3 percent from April through June. Economists expect growth to pick up to about a 3 percent pace the second half of the year. Consumers are drawing confidence from an improving job market. On Friday, the Labor Department said employers added 215,000 jobs in July and unemployment remained at a seven-year low 5.3 percent. Over the past year, consumer borrowing is up 6.5 percent. Borrowing rose 7.7 percent in the student and auto loan category and 3.5 percent in the credit card category. During and after the 2007-2009 Great Recession, Americans scaled back their borrowing. Consumer borrowing hit bottom at less than $2.52 trillion in July 2010 and has been climbing more or less steadily ever since. http://news.yahoo.com/us-consumer-borrowing-hits-another-record-june-190301142--finance.html ----------------------------------------------------------------------------------------- My first question is this: Does YOUR source of economic news whether it be from a conservative or liberal source say more or less the same thing??? Do you think it is disingenuous or outright deception to declare that the US economy is based on consumer SPENDING when articles of this nature and others make it clear that the economy is really based on consumer DEBT??? What is your interpretation of the information contained in this article??? (I honestly don't give a hairy rat's a** what your opinion is of the source! It is no more dubious than any of the rest.) Meet singles at DateHookup.dating, we're 100% free! Join now!
8/9/2015 1:11:16 PM
condor_0000 Tampa, FL 58, joined Feb. 2013	The rot at the heart of the American economy 4 August 2015 World Socialist Web Site http://www.wsws.org/en/articles/2015/08/04/pers-a04.html Amid continued economic stagnation in Europe, with euro zone output still below the level of 2007, and decelerating growth in China and the so-called emerging markets, the United States is sometimes held up as a “bright spot” in the global capitalist economy. But more than six years since the official trough of the Great Recession in the second quarter of 2009, the US economy is anything but on the road to a recovery, as the latest data from the Commerce Department make clear. The department found that the economy had grown at an annual rate of 2.3 percent in the second quarter of 2015 and revised its figures for the first quarter from a contraction of 0.2 percent to an expansion of 0.6 percent. But the seemingly better result for the first quarter was overshadowed by further data revisions showing that the shock waves from the financial crisis of 2008 had had an even more significant impact than previously thought. As the Wall Street Journal noted, “data revisions going back more than three years show the expansion—already the weakest since World War II—was even worse than previously thought, with GDP increasing at an average annual rate of 2 percent between 2012 and 2014, down 0.3 percentage points from prior estimates.” The newspaper went on to point out that while growth in the first half of the year was better than expected, thanks to the first quarter revision, “economic growth so far this year has been even slower than during last year’s tepid first half and well below the pace of overall recovery.” In what were regarded as the “normal” business cycles of the past, economic growth at this point would have been accelerating, as firms undertook investment in anticipation of expanding markets and greater profit opportunities. That mechanism no longer operates. Business investment, once the driver of growth, is becoming a drag upon it. The GDP data showed that lower business investment actually subtracted from growth in the second quarter—the first time that had happened since 2012. Non-residential fixed investment, which includes spending on software, research and development as well as new equipment and factory buildings, declined by 0.6 percent compared to growth of 1.6 percent in the first quarter. One of the immediate causes appears to have been declining investment in energy due to the sharp fall in the price of oil over the past year. But sluggish US investment has a broader significance. It is part of one of the most pronounced trends in the world economy as a whole—the failure of investment in the real economy to return to anything like the levels it had attained prior to 2008. As the International Monetary Fund put it in its World Economic Outlook issued last April: “Private fixed investment in advanced economies contracted sharply during the global financial crisis and there has been little recovery since.” In the years after 2008, investment has been down by about 25 percent compared to pre-crisis forecasts. Nothing like this has been seen in any of the previous post-war recessions, pointing to the fact that what began in 2008 was not a turn in the economic cycle, but a breakdown of the most basic processes of the capitalist economy. The same tendency can be seen in wages data. Wage rates in the United States, along with other major economies, are virtually stagnant. The latest figures from the US Department of Labor show that employment costs rose by only 0.2 percent for the second quarter, the smallest rise since 1982. Then, the US was in the midst of what was, to that point, the deepest recession since the Depression of the 1930s. The present figure, however, has been recorded in what is the sixth year of a supposed economic recovery. Nothing like this has been seen in previous economic history. The data makes clear that low wages are not a conjunctural feature of the US economy, but a permanent fixture. Underlying economic tendencies have, moreover, been reinforced by the program of the Obama administration, which, through its “restructuring” of the auto industry in 2009, set out to make the US a low-wage economy. The cuts in investment and wages—two key drivers of the real economy—stand in marked contrast to the world of finance. Since reaching their low points in 2009, US stock market indexes have boomed, increasing almost three-fold. This is a result of financial speculation fueled by the provision of ultra-cheap money by the US Federal Reserve, which has kept its benchmark interest rate at or near zero for almost seven years. The official theory behind the low interest rate regime was that it would boost investment, leading to an economic expansion and recovery. In fact, the policy has led to the growth of parasitism on an unprecedented scale. Rather than being utilized for productive activity, cheap money has been used to finance various speculative activities, including share buy-backs and mergers and acquisitions. It is not simply that the money provided by the Fed and other central banks around the world has not been used for productive activities, giving rise to slow growth and economic stagnation. It has had an even more destructive effect. Companies that make new investments, but are considered by the market to have too high levels of capital expenditure, are penalized via their share price, marking them as potential targets for takeover and restructuring operations aimed at increasing the short-term return to investors. While this phenomenon is centered in the United States, it is international in scope. As Bank of England chief economist Andy Haldane recently commented, businesses are “almost eating themselves.” This phenomenon has a profound historical significance. Capitalism has, in the past, destroyed vast sections of the productive forces, either through depression or war. But nothing like the present-day scale of speculative plunder has previously taken place—a fact that, in and of itself, points to the growing rot at the heart of the present economic order. Furthermore, the colossal growth of financial speculation on the basis of a near-stagnant real economy has created the conditions for another financial crisis, the only question being what particular event or combination of events might set it off.
8/9/2015 1:25:09 PM
bluecougareyes Chelan, WA 71, joined Nov. 2008	it clear that the economy is really based on consumer DEBT??? * Personal Debt is wealth for TODAY ! * National Debt is sorrow tomorrow !
8/9/2015 1:31:57 PM
1hotone4u San Diego, CA 57, joined Jul. 2009 online now!	consumer borrowing might be good for banks but not for the economy
8/9/2015 1:33:37 PM
walt_hallow Lexington, KY 59, joined Nov. 2014	good thing the pubbers got their asses voted out in 2008 or it WOULD have collapsed [Edited 8/9/2015 1:34:07 PM ]
8/9/2015 1:36:21 PM
1hotone4u San Diego, CA 57, joined Jul. 2009 online now!	Then came Dodd / Frank that steered us to pending disaster!
8/9/2015 2:01:56 PM
Chairman__Darth North York, ON 45, joined Jul. 2015 online now!	I see that condor is still peddling his paid shill crap, Im curious though , what do you earn from posting their crap? Yeah yeah I know , none of your business. And before you say that I don't read your articles and wont dispute it here goes. The only part worth commenting on, the wages being stagnant and lack of investment. You do realize that the manufacturing industries, service industries and soon to be technological industry have left america right? and what do you have left? Retail and fast food and we know what they earn? Your article whined about lack of investment? well what do you expect when government favours multi national corporations that contributes to their campaigns, the best job in America is working for congress and the government state or federal they dont give a damn about the citizens, they only care about themselves and that includes Bernie Sanders. Unless you're a millionaire/billionaire investor, high ranking military officer, superstar celebrity , lobbyist, wall street bigwig and successful entrepreneur you are struggling. Although trades people are doing better than the average joe. Micheal Parenti says 80% of the world is poor and capitalism is at fault? really? capitalism is in Africa, where? most African nations have socialist governments. I do agree with this Parenti's quote "Actually, the New Deal's central dedication was to business recovery rather than social reform." I hope the socialist wont flip a lid over this quote from their marxist hero. Business recovery? hmmmmmmm that terrible president FDR.
8/9/2015 2:03:37 PM
thekinghasrisen San Diego, CA 30, joined Nov. 2013	Seriously guys...when is the economy NOT in decline in an election year? That's literally what EVERY politician opposing the party in power says. [Edited 8/9/2015 2:04:05 PM ]
8/9/2015 2:11:36 PM
alls_fair Thorlákshöfn Iceland 95, joined May. 2011	Quote from thekinghasrisen: Seriously guys...when is the economy NOT in decline in an election year? That's literally what EVERY politician opposing the party in power says. As I was reading the article and drafting this thread, I wondered how much politically motivated crap was involved in this information... But if you recall and the information we got was accurate, the last couple of elections took place in an economic atmosphere that was absolutely deplorable... I am told that the most accurate predictor of election results is the Consumer Confidence Index...
8/9/2015 2:11:44 PM
drwookie Reading, PA 61, joined May. 2013	How hard do you have to work at being so ignorant Pete? Borrowing becomes easier when more Americans have steady pay checks and bankers get excited over skimming off the top of workers' pay.
8/9/2015 2:14:22 PM
thekinghasrisen San Diego, CA 30, joined Nov. 2013	Quote from alls_fair: As I was reading the article and drafting this thread, I wondered how much politically motivated crap was involved in this information... But if you recall and the information we got was accurate, the last couple of elections took place in an economic atmosphere that was absolutely deplorable... I am told that the most accurate predictor of election results is the Consumer Confidence Index... I've heard the same, but only in how it relates to the health of the stock market.
8/9/2015 2:16:47 PM
Chairman__Darth North York, ON 45, joined Jul. 2015 online now!	How hard do you have to work at being so ignorant Pete? Borrowing becomes easier when more Americans have steady pay checks and bankers get excited over skimming off the top of workers' pay.. Borrowing becomes easier when more american have steady paycheques? Boy Wookie, you've never held a job in your life welfare boy. Bankers get excited skimming off the top of worker's pay? wow another doozy eh!! welfare man, tell us how bankers skim off of workers pay cheques? Tell us how the Bank of america crime family skims? Is the bank teller one of the soldiers and the bank manager the capo and they kick up to the underboss? Note to boy wookie, tell him to stop drinking jungle juice.
8/9/2015 2:18:12 PM
alls_fair Thorlákshöfn Iceland 95, joined May. 2011	Quote from drwookie: How hard do you have to work at being so ignorant Pete? Borrowing becomes easier when more Americans have steady pay checks and bankers get excited over skimming off the top of workers' pay. I am glad that you brought "steady paycheck" into the discussion. And although my name is not Pete, I am going to address your remark... The last reporting I got (and I will have to assume that the statistics are accurate) is that 40% of the workers in the US are now considered part time or temporary! In my humble opinion, that casts a large shadow of doubt on the notion that consumers are borrowing more based on steady paychecks... In fact, I think one could make a good argument that consumers are borrowing in record amounts trying to stay solvent (word choice ?) until they can recover what has been traditional job security...
8/9/2015 2:28:07 PM
bluecougareyes Chelan, WA 71, joined Nov. 2008	"" until they can recover what has been traditional job security..."" ^^^^ Those days are GONE !!! An employe today, needs to have two part time jobs to get by, its the way to go TODAY in this slowly declining USA / Global economy. This is the NEW NORM for Americans economy and life style !
8/9/2015 2:31:03 PM
drwookie Reading, PA 61, joined May. 2013	Quote from alls_fair: I am glad that you brought "steady paycheck" into the discussion. And although my name is not Pete, I am going to address your remark... The last reporting I got (and I will have to assume that the statistics are accurate) is that 40% of the workers in the US are now considered part time or temporary! In my humble opinion, that casts a large shadow of doubt on the notion that consumers are borrowing more based on steady paychecks... In fact, I think one could make a good argument that consumers are borrowing in record amounts trying to stay solvent (word choice ?) until they can recover what has been traditional job security... I didn't call you Pete! There is no rule saying part timers can't borrow and there are more people working than the period bush was hemp raging jobs. There are supposed to be rules against lending more than borrowers can afford to pay back but bush didn't want to have big government oversight to prevent that practice.
8/9/2015 2:31:08 PM
peterk2 Fort Lauderdale, FL 54, joined May. 2007	Quote from thekinghasrisen: Seriously guys...when is the economy NOT in decline in an election year? That's literally what EVERY politician opposing the party in power says. you dont really live in america, do you? weve got 93 million out of about 330 million not working at all 56% of them women for all that war on women crap stopped looking at all time highs in an economy growing at 2.2% when the usual rate is double that
8/9/2015 2:34:09 PM
peterk2 Fort Lauderdale, FL 54, joined May. 2007	Kind of sums up the two ideologies: Donald Trump and Hillary Clinton were walking down the street when they came to a homeless person. Trump gave the homeless person his business card and told him to come to his office for a job. He then took $20 out of his pocket and gave it to the homeless person. Hillary was very impressed, so when they came to another homeless person, she decided to help. She walked over to the homeless person and gave him directions to the welfare office. She then reached into Trump 's pocket and got out $20. She kept $15 for her administrative fees and gave the homeless person $5.00 Now, do you understand the difference between a Conservative and a Liberal Progrressive.
8/9/2015 2:54:34 PM
stellar007 Plymouth, MI 40, joined Dec. 2013	It's got to be a lie! Banks aren't lending! PERIOD!
8/9/2015 2:58:15 PM
alls_fair Thorlákshöfn Iceland 95, joined May. 2011	Quote from stellar007: It's got to be a lie! Banks aren't lending! PERIOD! That's an interesting and unexpected statement... Would you care to elaborate???
8/9/2015 3:04:42 PM
thekinghasrisen San Diego, CA 30, joined Nov. 2013	Quote from peterk2: you dont really live in america, do you? Nope. I bought my Iraqi Campaign Medal and my GWOT Expeditionary Medal from EBAY. weve got 93 million out of about 330 million not working at all True...which is a problem indeed. It however isn't a 'new' problem. 56% of them women for all that war on women crap Wait...what? Explain. Educate. stopped looking at all time highs in an economy growing at 2.2% when the usual rate is double that You're not necessarily wrong. The labor participation rate has been declining sharply since 2008. So how do we fix it? What line should America be willing to tow between rewarding upward mobility and letting the poor 'die in the streets'? [Edited 8/9/2015 3:05:23 PM ]
8/9/2015 3:04:53 PM
lennyjohn58 Albuquerque, NM 56, joined Feb. 2015	Banks only lend to people who already have money.
8/9/2015 3:08:00 PM
alls_fair Thorlákshöfn Iceland 95, joined May. 2011	King... Can you tell us what the graph you posted is in reference too??? GDP...employment...unemployment???
8/9/2015 3:19:44 PM
aposorichie Berwyn, IL 59, joined Jan. 2009	I can't see how our economy is so great when people have to use credit to make ends meet. If the economy is so great then why are 75% of US households living from paycheck to paycheck? Another poster stated that some of the building trades are doing well and that is true but our new medium wage is about $10.00 hour for unskilled labor which isn't that great. Before the collapse it was around $15.00 to $17.50 hour. If this is your hope and change then you got shortchanged dummy.
8/9/2015 7:17:15 PM
61falcon New Hope, PA 74, joined Feb. 2008 online now!	Global debt has risen from $28 TRILLION in 2001 to $53 TRILLION in 2012,it's now considerably higher than $53 TRILLION.
8/9/2015 7:21:05 PM
61falcon New Hope, PA 74, joined Feb. 2008 online now!	Current GLOBAL debt now approaching $57 Trillion.
8/9/2015 7:27:16 PM
bluecougareyes Chelan, WA 71, joined Nov. 2008	Quote from aposorichie: I can't see how our economy is so great when people have to use credit to make ends meet. If the economy is so great then why are 75% of US households living from paycheck to paycheck? Another poster stated that some of the building trades are doing well and that is true but our new medium wage is about $10.00 hour for unskilled labor which isn't that great. Before the collapse it was around $15.00 to $17.50 hour. If this is your hope and change then you got shortchanged dummy. Its also rather funny, how I hear radio adds every day, asking for help to adds programs that saying : "Feed America" - "Feed The Children" and more.... yet, the economy is doing so GOOD ! ITS ALL BULL SHIT !! " We American live in the best country in the whole world, pleas help me change IT " - obama *
8/9/2015 7:33:53 PM
bluecougareyes Chelan, WA 71, joined Nov. 2008	Quote from stellar007: It's got to be a lie! Banks aren't lending! PERIOD! Maybe not lending to YOU ! - PERIOD! Lots of homes are being built around here, ( coasting $200,000 to one Million and more ) and the Mexican and Caucasians, that are poor all the way up to supper wealthy are taking out local (and other) Bank loans to build those homes. Just had two Mexican families, buy 1/4 acre lots and build nice homes last year, right across the street from me. But... if some one has bad credit... then no bank loans
8/9/2015 7:35:07 PM
alls_fair Thorlákshöfn Iceland 95, joined May. 2011	Quote from 61falcon: Current GLOBAL debt now approaching $57 Trillion. This is a GOOD post guy! And if it is accurate, have you thought through the implications of it??? How can just about every single gubment on the face of the planet Earth be in debt without having a WORLD wide collapse at some point???
8/9/2015 7:42:08 PM
alls_fair Thorlákshöfn Iceland 95, joined May. 2011	Quote from bluecougareyes: Maybe not lending to YOU ! - PERIOD! Lots of homes are being built around here, ( coasting $200,000 to one Million and more ) and the Mexican and Caucasians, that are poor all the way up to supper wealthy are taking out local (and other) Bank loans to build those homes. Just had two Mexican families, buy 1/4 acre lots and build nice homes last year, right across the street from me. But... if some one has bad credit... then no bank loans I don't disagree with what you are saying...but there is a different perspective available for us to pursue... The current or just past "immigration crisis" in the US slants the table heavily in FAVOR of the illegal immigrants in terms of job selection or credit extension... The illegals come here with virtually NO HISTORY whatsoever while the people already here especially native born folks have had everything they have done in their lifetimes documented already. In other words, they already been labelled... And this is the thing that makes me think that politicians will NEVER do anything about immigration. The ease with which they can create another generation of debt slaves is far too enticing...
8/9/2015 8:06:02 PM
thekinghasrisen San Diego, CA 30, joined Nov. 2013	Quote from alls_fair: King... Can you tell us what the graph you posted is in reference too??? GDP...employment...unemployment??? whoops. I meant to include a link: http://data.bls.gov/timeseries/LNS11300000
8/9/2015 8:15:53 PM
mralwaysrite Estevan, SK 53, joined Feb. 2014	The U.S. went from Conservative lending/borrowing to Liberal lending/borrowing, and since NAFTA, the Federal government has fabricated growth to compensate for the huge losses in manufacturing.
8/9/2015 8:19:30 PM
61falcon New Hope, PA 74, joined Feb. 2008 online now!	bluecougar you are brain washed,if we live in the greatest country on earth then why do we have so many unhappy dissatisfied people??Virtually all of the Nordic countries Norway,Finland,Denmark,Sweden, which are bastions of socialism, have the worlds happiest most content people.
8/9/2015 8:40:07 PM
bluecougareyes Chelan, WA 71, joined Nov. 2008	Quote from alls_fair: I don't disagree with what you are saying...but there is a different perspective available for us to pursue... The current or just past "immigration crisis" in the US slants the table heavily in FAVOR of the illegal immigrants in terms of job selection or credit extension... The illegals come here with virtually NO HISTORY whatsoever while the people already here especially native born folks have had everything they have done in their lifetimes documented already. In other words, they already been labelled... And this is the thing that makes me think that politicians will NEVER do anything about immigration. The ease with which they can create another generation of debt slaves is far too enticing... Well I hear you on your point. Quote: "The ease with which they can create another generation of debt slaves is far too enticing" But that ( debt) has been happening for decades and "generations" of American Private Debt to the Banks and/or Home Mortgage Lenders. You get STUFF NOW and pay over time, in the old day, you worked and paid/bought things as you had the money to do so of got a 'Grub Stake' from a trusted friend. OR.. Unless you were wealthy enough to get a bank loan. For Examp: The Mexicans living here ( many are farm workers 1,600+ and/or packing house workers) but many more are also doing skilled work in all kinds of labor and non labor businesses and some now own their own businesses and some own Fruit Orchards too, they have been well establish here for many years, mostly they are Green Card Holders... or some are American Citizens now. They are far more economical aggressive then the Young Collage kids today, that want mostly softer low pay jobs, or some want high tech jobs. Any way... life goes on... until the US Dollar slips away as the Global Reserve Currency ! Actually there is no RESERVE currency at all... Unless the FED Baking Cartel prints up more FIAT US dollars = More INFLATION ! = Higher prices do to the weak buying power of watered down US Dollar. America is BROKE - We are a DEBTOR NATION ! PS: - Every thing to do with money and economy world wide is a FRAUD ! - The Reality will never come, with such a transparent US Government OLIGARCHY ! *
8/9/2015 8:58:58 PM
stellar007 Plymouth, MI 40, joined Dec. 2013	Quote from alls_fair: That's an interesting and unexpected statement... Would you care to elaborate??? Don't just take my word for it... Ask Ben, our ex Fed Chairman who was recently denied a mortgage.
8/9/2015 9:27:05 PM
mralwaysrite Estevan, SK 53, joined Feb. 2014	Quote from 61falcon: bluecougar you are brain washed,if we live in the greatest country on earth then why do we have so many unhappy dissatisfied people??Virtually all of the Nordic countries Norway,Finland,Denmark,Sweden, which are bastions of socialism, have the worlds happiest most content people. Bullshit! World's happiest 2015 1. Switzerland 2. Iceland 3. Denmark 4. Norway 5. Canada http://www.usnews.com/news/articles/2015/04/24/world-happiness-report-ranks-worlds-happiest-countries-of-2015 and Canada/Iceland social expenditures are lower than the U.S. http://ftalphaville.ft.com/2014/11/27/2053392/welfare-spending-across-the-oecd/ [Edited 8/9/2015 9:27:41 PM ]
8/9/2015 10:00:51 PM
mralwaysrite Estevan, SK 53, joined Feb. 2014	Quote from mralwaysrite: Bullshit! World's happiest 2015 1. Switzerland 2. Iceland 3. Denmark 4. Norway 5. Canada http://www.usnews.com/news/articles/2015/04/24/world-happiness-report-ranks-worlds-happiest-countries-of-2015 and Canada/Iceland social expenditures are lower than the U.S. http://ftalphaville.ft.com/2014/11/27/2053392/welfare-spending-across-the-oecd/ Hey falcon, perhaps world's happiest ranking isn't just about social expenditures http://www.businessinsider.com/new-world-happiness-report-2015-2015-4
8/9/2015 10:04:36 PM
alls_fair Thorlákshöfn Iceland 95, joined May. 2011	Quote from mralwaysrite: and Canada/Iceland social expenditures are lower than the U.S. http://ftalphaville.ft.com/2014/11/27/2053392/welfare-spending-across-the-oecd/ I just thought I would point out that there might be 3 dozen people in all of canada and iceland. With that factoid in hand, it should be easy for them to have fewer social expenditures... Or were you counting polar bears and penguins???
8/9/2015 10:16:53 PM
drwookie Reading, PA 61, joined May. 2013	Quote from alls_fair: I just thought I would point out that there might be 3 dozen people in all of canada and iceland. With that factoid in hand, it should be easy for them to have fewer social expenditures... Or were you counting polar bears and penguins??? This is totally worthy of ridicule, your mockery emoticons represent what you see in a mirror!
8/9/2015 10:22:26 PM
alls_fair Thorlákshöfn Iceland 95, joined May. 2011	^^^ hater...
8/9/2015 10:24:12 PM
drwookie Reading, PA 61, joined May. 2013	Yea, I hate willful stupidity! ^^^^^^
8/9/2015 10:24:38 PM
61falcon New Hope, PA 74, joined Feb. 2008 online now!	The 4 Nordic countries are all in the top 8 and are every year, and Switzerland and Iceland are also socialist countries with socialized medicine, similar to Canada.The unbearable costs of medical care and health insurance here in the USA destroy all concept of real security,most Americans are one serious illness away from destitution.
8/10/2015 12:18:45 AM
fallguy02379 Brockton, MA 51, joined Sep. 2011	during the last GOP debate, how many questions were about thee economy?
8/10/2015 2:26:12 PM
alls_fair Thorlákshöfn Iceland 95, joined May. 2011	Quote from fallguy02379: during the last GOP debate, how many questions were about thee economy? That's an excellent question Lad... In fact, I think it would be a good idea for those that keep track of politics to see how many REAL questions are asked throughout this election cycle of BOTH sides...
8/10/2015 6:20:16 PM
condor_0000 Tampa, FL 58, joined Feb. 2013	The US Economy Continues Its Collapse By Paul Craig Roberts Dr. Paul Craig Roberts was Assistant Secretary of the Treasury in the Reagan administration, associate editor of the Wall Street Journal, and he was a columnist for Business Week, Scripps Howard News Service, and Creators Syndicate. http://www.informationclearinghouse.info/article42587.htm Do you remember when real reporters existed? Those were the days before the Clinton regime concentrated the media into a few hands and turned the media into a Ministry of Propaganda, a tool of Big Brother. The false reality in which Americans live extends into economic life. Last Friday’s employment report was a continuation of a long string of bad news spun into good news. The media repeats two numbers as if they mean something—the monthly payroll jobs gains and the unemployment rate—and ignores the numbers that show the continuing multi-year decline in employment opportunities while the economy is allegedly recovering. The so-called recovery is based on the U.3 measure of the unemployment rate. This measure does not include any unemployed person who has become discouraged from the inability to find a job and has not looked for a job in four weeks. The U.3 measure of unemployment only includes the still hopeful who think they will find a job. The government has a second official measure of unemployment, U.6. This measure, seldom reported, includes among the unemployed those who have been discouraged for less than one year. This official measure is double the 5.3% U.3 measure. What does it mean that the unemployment rate is over 10% after six years of alleged economic recovery? In 1994 the Clinton regime stopped counting long-term discouraged workers as unemployed. Clinton wanted his economy to look better than Reagan’s, so he ceased counting the long-term discouraged workers that were part of Reagan’s unemployment rate. John Williams (shadowstats.com) continues to measure the long-term discouraged with the official methodology of that time, and when these unemployed are included, the US rate of unemployment as of July 2015 is 23%, several times higher than during the recession with which Fed chairman Paul Volcker greeted the Reagan presidency. An unemployment rate of 23% gives economic recovery a new meaning. It has been eighty-five years since the Great Depression, and the US economy is in economic recovery with an unemployment rate close to that of the Great Depression. The labor force participation rate has declined over the “recovery” that allegedly began in June 2009 and continues today. This is highly unusual. Normally, as an economy recovers jobs rebound, and people flock into the labor force. Based on what he was told by his economic advisors, President Obama attributed the decline in the participation rate to baby boomers taking retirement. In actual fact, over the so-called recovery, job growth has been primarily among those 55 years of age and older. For example, all of the July payroll jobs gains were accounted for by those 55 and older. Those Americans of prime working age (25 to 54 years old) lost 131,000 jobs in July. Over the previous year (July 2014 — July 2015), those in the age group 55 and older gained 1,554,000 jobs. Youth, 16-18 and 20-24, lost 887,000 and 489,000 jobs. Today there are 4,000,000 fewer jobs for Americans aged 25 to 54 than in December 2007. From 2009 to 2013, Americans in this age group were down 6,000,000 jobs. Those years of alleged economic recovery apparently bypassed Americans of prime working age. As of July 2015, the US has 27,265,000 people with part-time jobs, of whom 6,300,000 or 23% are working part-time because they cannot find full time jobs. There are 7,124,000 Americans who hold multiple part-time jobs in order to make ends meet, an increase of 337,000 from a year ago. The young cannot form households on the basis of part-time jobs, but retirees take these jobs in order to provide the missing income on their savings from the Federal Reserve’s zero interest rate policy, which is keyed toward supporting the balance sheets of a handful of giant banks, whose executives control the US Treasury and Federal Reserve. With so many manufacturing and tradable professional skill jobs, such as software engineering, offshored to China and India, professional careers are disappearing in the US. The most lucrative jobs in America involve running Wall Street scams, lobbying for private interest groups, for which former members of the House, Senate, and executive branch are preferred, and producing schemes for the enrichment of think-tank donors, which, masquerading as public policy, can become law. The claimed payroll jobs for July are in the usual categories familiar to us month after month year after year. They are domestic service jobs—waitresses and bartenders, retail clerks, transportation, warehousing, finance and insurance, health care and social assistance. Nothing to export in order to pay for massive imports. With scant growth in real median family incomes, as savings are drawn down and credit used up, even the sales part of the economy will falter. Clearly, this is not an economy that has a future. But you would never know that from listening to the financial media or reading the New York Times business section or the Wall Street Journal. When I was a Wall Street Journal editor, the deplorable condition of the US economy would have been front page news.
8/10/2015 6:28:57 PM
alls_fair Thorlákshöfn Iceland 95, joined May. 2011	The article you posted is consistent with my own observations about the true state of economic affairs in the US... But I guess it doesn't meet crisis status any longer because the American sheep have moved on to more important topics like whom will be the next liar-n-thief sitting in the White House! These are exciting times...
8/10/2015 7:56:37 PM
drwookie Reading, PA 61, joined May. 2013	Quote from 1hotone4u: consumer borrowing might be good for banks but not for the economy That's so simplistically stupid that it must have taken about 2% of your brain power to come up with it. I hope you're not exhausted from working your brain that hard the television sales men makes income from your credit as does the real estate agent, car salesman, dealer and manufacturers. I guess if you have bad credit, you would be jaundiced in your opinion and it's a worthy argument for a bimbo on a date to explain the cheap suit is the result of frugality.
8/10/2015 7:59:41 PM
naprinciple West Plains, MO 46, joined Feb. 2014	The world is preparing for a post Dollar paradigm, but that's just a crazy conspiracy theory domestically.
8/10/2015 8:10:32 PM
lobo_corazon Orleans, ON 46, joined May. 2008 online now!	Quote from bluecougareyes: " We American live in the best country in the whole world, pleas help me change IT " - obama You don't, and never have. Carry on!
8/10/2015 8:14:12 PM
lobo_corazon Orleans, ON 46, joined May. 2008 online now!	Quote from naprinciple: The world is preparing for a post Dollar paradigm, but that's just a crazy conspiracy theory domestically. I would love to see an end to all of this currency exchange foolishness. It's just an excuse for banksters to skim 3% off every foreign transaction or trip we make. Do they need any more excuses? Today's news... The stock market is up, and the price of oil is up! Woot! But why? Decreased supply? Increased demand? Better economic news? Nope! Stocks are up because of rumours that the Fed won't increase interest rates in September (wtf difference does that make to the price of Bristol Myers, rationally?), and oil is up because the US$ weakened compared to other currencies. (WTF again?)
8/10/2015 8:18:03 PM
nole_89 Loganville, GA 52, joined May. 2010	Quote from lobo_corazon: You don't, and never have. Carry on! We WERE in the 1950's and 60's. Funny how few politicians want to examine what were those policies we had in place back then.
8/10/2015 8:21:36 PM
lobo_corazon Orleans, ON 46, joined May. 2008 online now!	Meh. You have the biggest military, that's pretty much it. I'll reserve judgement re. the 50s, since I wasn't alive. Needless to say, Republican claims that the US was the best place in the world in 2008 (before "Obama tried to mess it all up") display a childlike naiveté of what exists outside their personal eyesight.
8/10/2015 8:30:37 PM
nole_89 Loganville, GA 52, joined May. 2010	Quote from lobo_corazon: Meh. You have the biggest military, that's pretty much it. I'll reserve judgement re. the 50s, since I wasn't alive. Needless to say, Republican claims that the US was the best place in the world in 2008 (before "Obama tried to mess it all up") display a childlike naiveté of what exists outside their personal eyesight. You actually know repubtards that say that about 2008? They must be some special kind of stupid. And yes, back in the 1950's and 60's the U.S. had the highest standard of living in the world. We obviously were doing something right back then. Quoted from prospect.org: From the end of World War II through the mid-1970s, American jobs—and with them, the American economy—steadily improved. President Kennedy’s description of how the economy worked was substantially accurate: “A rising tide lifts all boats.” Pay raises matched increases in the nation’s productivity at all points along the economic spectrum. Workers at the bottom of the pay scale saw their wages increase in tandem with everyone else’s. In growing numbers, employers provided pensions and health insurance to their workers. But beginning in the ’70s, the rising tide began leaving some, then most, and today nearly all boats behind.
8/10/2015 8:36:24 PM
louie6332 Falkville, AL 73, joined Nov. 2011	The FED has created a bubble in the US stock market, the mother of all bubbles, and when it bursts, watch out, it’ll be the mother of all bursts. The US stock market will crash on Sept 24, the day after the comet strike. The Illuminati have already given the date in a subtle warning. Normally, you could make money on this knowledge by shorting the market. But this time the US dollar will collapse with the market. So your profits will be collapsing as fast as you rake them in. Too risky. Take your money out now if you are still in the market, immediately convert to food and precious metals, and run like hell. Then get out of harm's way. Louie
8/10/2015 8:38:23 PM
lobo_corazon Orleans, ON 46, joined May. 2008 online now!	Quote from mralwaysrite: Bullshit! World's happiest 2015 1. Switzerland 2. Iceland 3. Denmark 4. Norway 5. Canada http://www.usnews.com/news/articles/2015/04/24/world-happiness-report-ranks-worlds-happiest-countries-of-2015 and Canada/Iceland social expenditures are lower than the U.S. http://ftalphaville.ft.com/2014/11/27/2053392/welfare-spending-across-the-oecd/ I find it bizzare that you start with "bullshit!" and then post a link that agrees with him that Nordic countries are the world's happiest. What did you think he said? He certainly didn't say they had higher "social expenditures" (whatever that's supposed to mean... Military pensions?) than the US. He said they were "bastions of socialism", which is obviously true at least by comparison.
8/10/2015 8:42:11 PM
lobo_corazon Orleans, ON 46, joined May. 2008 online now!	Quote from louie6332: The FED has created a bubble in the US stock market, the mother of all bubbles, and when it bursts, watch out, it’ll be the mother of all bursts. The US stock market will crash on Sept 24, the day after the comet strike. The Illuminati have already given the date in a subtle warning. Normally, you could make money on this knowledge by shorting the market. But this time the US dollar will collapse with the market. So your profits will be collapsing as fast as you rake them in. Too risky. Take your money out now if you are still in the market, immediately convert to food and precious metals, and run like hell. Then get out of harm's way. Louie There is no "out of harms way" when Niburu lands on your bomb shelter!
8/10/2015 9:01:38 PM
longbobby Lufkin, TX 54, joined Aug. 2010	An unemployment rate of 23% gives economic recovery a new meaning. It has been eighty-five years since the Great Depression, and the US economy is in economic recovery with an unemployment rate close to that of the Great Depression. The labor force participation rate has declined over the “recovery” that allegedly began in June 2009 and continues today. This is highly unusual. Normally, as an economy recovers jobs rebound, and people flock into the labor force. Based on what he was told by his economic advisors, President Obama attributed the decline in the participation rate to baby boomers taking retirement. In actual fact, over the so-called recovery, job growth has been primarily among those 55 years of age and older. For example, all of the July payroll jobs gains were accounted for by those 55 and older. Those Americans of prime working age (25 to 54 years old) lost 131,000 jobs in July. Over the previous year (July 2014 — July 2015), those in the age group 55 and older gained 1,554,000 jobs. Youth, 16-18 and 20-24, lost 887,000 and 489,000 jobs. Today there are 4,000,000 fewer jobs for Americans aged 25 to 54 than in December 2007. From 2009 to 2013, Americans in this age group were down 6,000,000 jobs. Those years of alleged economic recovery apparently bypassed Americans of prime working age. As of July 2015, the US has 27,265,000 people with part-time jobs, of whom 6,300,000 or 23% are working part-time because they cannot find full time jobs. There are 7,124,000 Americans who hold multiple part-time jobs in order to make ends meet, an increase of 337,000 from a year ago. http://www.informationclearinghouse.info/article42587.htm
8/10/2015 10:00:06 PM
stellar007 Plymouth, MI 40, joined Dec. 2013	The sky is falling! The sky is falling!
8/10/2015 10:50:24 PM
stellar007 Plymouth, MI 40, joined Dec. 2013
8/11/2015 5:14:42 PM
bluecougareyes Chelan, WA 71, joined Nov. 2008	Quote from bluecougareyes: " We American live in the best country in the whole world, pleas help me change IT " - obama Quote from lobo_corazon: You don't, and never have. Carry on! Your opinion is... ^^^ Just only one socialist Canadians sower rotten thinking !!...
8/11/2015 5:37:08 PM
drwookie Reading, PA 61, joined May. 2013	Quote from louie6332: The FED has created a bubble in the US stock market, the mother of all bubbles, and when it bursts, watch out, it’ll be the mother of all bursts. The US stock market will crash on Sept 24, the day after the comet strike. The Illuminati have already given the date in a subtle warning. Normally, you could make money on this knowledge by shorting the market. But this time the US dollar will collapse with the market. So your profits will be collapsing as fast as you rake them in. Too risky. Take your money out now if you are still in the market, immediately convert to food and precious metals, and run like hell. Then get out of harm's way. Louie Bubbles have been forming in your brain from it's washing and air mixing in your head Louie.

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