Are you worried about the economy?
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david walker, comptroller general has taken his show on the road lately:
http://youtube.com/results?search_query=david+walker+comptroller&search=Search
no one in congress will listen, will you?
he lays it on very dry, but right on:
pt 1 http://youtube.com/watch?v=KIgrxpp97OQ
pt 2 http://youtube.com/watch?v=DXr_Ga_n0pY
http://youtube.com/results?search_query=david+walker+comptroller&search=Search
no one in congress will listen, will you?
he lays it on very dry, but right on:
pt 1 http://youtube.com/watch?v=KIgrxpp97OQ
pt 2 http://youtube.com/watch?v=DXr_Ga_n0pY
Good links! A very simple way to have avoided this fiasco. People are taught in this country to buy more than they can afford as soon as they can, without worrying about the consequences, and their teachers? The city, state, and especially the federal government. Insanity!
Existing Single-Family Home Sales Drop
Sales of Existing Single-Family Homes Drop in 2007 by Largest Amount in 25 Years
Basically it means people can't afford to buy homes, so the prices drop.
WASHINGTON (AP) -- Sales of existing single-family homes plunged in 2007 by the largest amount in 25 years, closing out an awful year that saw median prices fall for the first time in at least four decades.
The National Association of Realtors reported Thursday that sales of single-family homes fell by 13 percent last year, the biggest decline since a 17.7 percent drop in 1982. The median price of a single-family home fell to $217,800 in 2007, down 1.8 percent from 2006.
http://biz.yahoo.com/ap/080124/economy.html?&.pf=real-estate
Sales of Existing Single-Family Homes Drop in 2007 by Largest Amount in 25 Years
Basically it means people can't afford to buy homes, so the prices drop.
WASHINGTON (AP) -- Sales of existing single-family homes plunged in 2007 by the largest amount in 25 years, closing out an awful year that saw median prices fall for the first time in at least four decades.
The National Association of Realtors reported Thursday that sales of single-family homes fell by 13 percent last year, the biggest decline since a 17.7 percent drop in 1982. The median price of a single-family home fell to $217,800 in 2007, down 1.8 percent from 2006.
http://biz.yahoo.com/ap/080124/economy.html?&.pf=real-estate
No no one in washington hears him and in fact not many in america do eithier.Just look at the last pub debate and Romney talking about how we can cut taxes and make the future brighter for ourselves and the generations to follow.This guy is saying exactly the opposite that at some point we need to start actually paying our way now or face real trouble later.You know I'm a baby boomer one of the people he talks about are going to break the bank when we retire.I can tell if you think the elderly and there resistance to changing SS is fierce now what till the boomers are retired.The largest generation in history will be even more able to resist changes.So we better get to it now.One thing we can do is remove the cap on social security taxes which is I think $90,000 a year(meaning that someone earning more than that pays no SS taxes on everything above that amount).
It's not a fun thing to think that your children and their children are going to suffer in what could be a not far off collapse of the US economy.
People want those toy trucks and TV's and items they've been trained to buy, and accustomed to having. That's why the powers that be are making such a statement that it will help the economy short term in that people will spend it. But you know there are a lot of people who will pay their upcoming bills and debt. I notice again and again that an item I used to buy in the supermarket is up 50% eggs and bread, and today I saw pasta was $1.39. I used to get it two years ago for about a dollar. That's 40% more, so $50 in groceries now costs $70. Drugs and healthcare? The FDA was so helpful in trying to make the case that Canadian drugs were unsafe. One interview I saw with an FDA official, he actually turned red and stuttered out stupid answers as to why they were not safe. It's just f*ck you all the way to the taxpayers in this country.
People want those toy trucks and TV's and items they've been trained to buy, and accustomed to having. That's why the powers that be are making such a statement that it will help the economy short term in that people will spend it. But you know there are a lot of people who will pay their upcoming bills and debt. I notice again and again that an item I used to buy in the supermarket is up 50% eggs and bread, and today I saw pasta was $1.39. I used to get it two years ago for about a dollar. That's 40% more, so $50 in groceries now costs $70. Drugs and healthcare? The FDA was so helpful in trying to make the case that Canadian drugs were unsafe. One interview I saw with an FDA official, he actually turned red and stuttered out stupid answers as to why they were not safe. It's just f*ck you all the way to the taxpayers in this country.
Well one of the other things that people hear never really seem to get is on the crisis with medicare he also mentioned is that because we have this out of control for profit health care system thats runs cost increases at double the normal inflation rate is the biggest factor in in why medicare costs so much.Drug costs are just one example of how the for profits are controlling and driving up the prices.Thats what amazes me about the whole universal health care debate people just don't see that we spend double per capita on health care then all the other countries who do have universal coverage.So in theory unless the french are that much smarter than us we can have universal coverage and spend way less to boot.But we all know why that doesn't happen.Extremely wealthy interests groups like insurance/drug/HMO companys and their lobbyists paying off the political system.
But again the truth is Universal health care should unless cost close to only half what we spend now unless we are just not capable of doing anything they can in all the other countries.Thats how powerful the vested interests lobby's are IMO they have it totally accepted that universal health care would cost more.
Actually cutting those health care costs would be a possible boon to the arms makers with all that freed up cash just shows how really washington is a battle of competeting lobbyists.Ya got your arms makers ,your heath care lobby all spending dough wanting legislation and getting it.Thats why that guy has those astronomical debt numbers in the vid.
I have to agree with those people that think this whole relief stuff is just more of what America has been doing wrong for a long time now. It seems we are just borrowing against the future so that we have a little time now at the expense of an even greater problem later on. I highly doubt the tax rebates or any tax rebates are going to supercharge the economy for years to come so that it validates spending the resources now and allows us to better pay off things later.
Not to mention that food and gas prices are probably going to go up even more now that we got a rate cut, which is going to hurt the poor more than before.
Not to mention that food and gas prices are probably going to go up even more now that we got a rate cut, which is going to hurt the poor more than before.
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SIGH
I ran into an old high school friend the other day. He's a trader / broker and he's all hot in doing market research for alternative energy resource investment opportunities. I ask : "So you actually believe that man can curb what they're calling "global warming" ?
He : "Hell No ! It's an investment opportunity . . . Ha Ha "
Exactly ! To bad other s suufer for it though !
SIGH
I ran into an old high school friend the other day. He's a trader / broker and he's all hot in doing market research for alternative energy resource investment opportunities. I ask : "So you actually believe that man can curb what they're calling "global warming" ?
He : "Hell No ! It's an investment opportunity . . . Ha Ha "
Exactly ! To bad other s suufer for it though !
icerfan
Nikkala made me do it!
4th qtr GDP at 0.6%
Six hours later ...
Fed cuts rates again
Something doesn't jibe here ... we're still technically not in "the R word" based on the barely positive GDP number, but the Fed has cut rates 1 1/4 points in the last ten days. Do Chmn. Bernanke and friends know something we don't?
Six hours later ...
Fed cuts rates again
Something doesn't jibe here ... we're still technically not in "the R word" based on the barely positive GDP number, but the Fed has cut rates 1 1/4 points in the last ten days. Do Chmn. Bernanke and friends know something we don't?
Sometimes I think decision are made about the market based on a psychological evaluation of the populace and not merely raw data.
It's not based on economic sense, it's based on a quick fix that might work but pushes the problem of the deficit off into the future. They just print more money as an appeasement. It's the same effect as if you had a money tree or printing press cranking it out, It's only good so long as it's accepted.
When someone finally comes by and tells you it's worthless, they won't accept it anymore and you better pay what you owe. There is going to be trouble.
Then what happens? You can kick his ass with your big and growing military in the name of freedom, democracy and justice and lie to your people about the reason.
When someone finally comes by and tells you it's worthless, they won't accept it anymore and you better pay what you owe. There is going to be trouble.
Then what happens? You can kick his ass with your big and growing military in the name of freedom, democracy and justice and lie to your people about the reason.
http://www.usagold.com/images/hyperinflation.jpeg
it might be time to do away with the failed experiment of a central bank and fiat money. it always ends badly.
http://www.adelaideinstitute.org/images/photos2006/Hitler.bmp
it might be time to do away with the failed experiment of a central bank and fiat money. it always ends badly.
http://www.adelaideinstitute.org/images/photos2006/Hitler.bmp
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It doesn't sound to me that the Republicans...especially John McCain are worried about the economy. I watched the Repub debate last night and when McCain was asked about his economic "leadership"...he answered with his usual talk about Iraq, fighting Islamic Jihadists and "finishing the job in Iraq"...
Shouldn't that answer worry about 80% of the Republican party? The current Repub front runner candidate is basically irrelevant regarding the economy...:dunno:
I hate to trot out the 'ol line..."It's the economy, stupid"....
Shouldn't that answer worry about 80% of the Republican party? The current Repub front runner candidate is basically irrelevant regarding the economy...:dunno:
I hate to trot out the 'ol line..."It's the economy, stupid"....
I think that US real economic growth is grossly overstated. In the whole post-war period there has been a systematic and accelerating understating of inflation, just look at the latest antics with "core inflation" and all that BS. So, in short, when you measure the total growth in the monetary value of the goods and services produced and adjust for inflation by using a downward biased inflation measure you will overstate real economic growth.
Take a look at how the inflation has played out over the last 25 years when measured by the original CPI specification and the new "adjusted" one.
http://www.kitco.com/ind/Turk/turk_jan252008.html
Now, adjust nominal economic growth over the same period with those figures and see what you get. That is the data that the government does not want you to see.
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