It has been long enough since anyone commented in the last thread on this so it was locked and I figured perhaps there would be interest to talk about all things relating to the Economy be it in the US or worldwide.

Obviously the mood isn't positive lately as consumer confidence is at a 28 year low.

So how do you feel about the economy? Do you feel this is a soft landing or do we have more pain to endure?

Do you think that the mood right now strangely reflects how things were in the late 70s early 80s? Or were you not born yet? 

Bad economy = job security for me 

Bad economy = bad shit for my company. 

Lies, you have no job. 

job security for me

Hows that? 

The Economy

.....is tanking.
eeeeeeiiiiiiiiorrrrrrr *boom* 

Hows that?

I'm a short-term case manager for people experiencing a mental health crisis. 

people leave thier mental well being up to.............you? 

hahaha I KNOW RITE? 

I'm a short-term case manager for people experiencing a mental health crisis.

Are you paid with tax dollars?

The economy forced me to do some rebalancing of my portfolio this morning. Grabbed some Wal-Mart, which has defied the market (relatively speaking), to hedge against some of my other stocks that have shown themselves to be more tied to the general health of the market. Thinking about grabbing petroleum, finally, since it shows no signs of going anywhere but up. 

Are you paid with tax dollars?

mmmmmmm sorta. Some county money, some grants, some insurance money 

Not tryin to burst your bubble, but tax money + bad economy doesn't necessarily job security.

Even more so if the grants are from public funds. 

I predict things will 'magically' get a little better after the election is over. 

Either way, I'm not worried about my job.

We really need to tax less on gas and tax rich people more 

The Economy

is doing better than ever. 

Tax more evrything. 

Or tax less gas, and cut some places where we're giving the money too 

I don't know how a tax break on gas will help the average consumer. For instance, in my state, gas tax is a fixed $0.17/gal. That's less than $3 in savings per fill up, but that money is a big deal to local road repair and construction funds. I'd rather have the roads and drive less than drive more and have to dodge pot holes.

And I don't see how taxing people with money to spend would help an economy that needs people spending money. 

JTWood said:

And I don't see how taxing people with money to spend would help an economy that needs people spending money.

qft - I've never worked for a poor man. 

I'm just saying that, kinda off topic, because people bitch about gas prices, and rich people don't get taxed as much as they should. 

rich people don't get taxed as much as they should.

yes, damn their hard work and entrepreneurial spirit! 

so because they were smart and got money means they shouldn't be taxed to the same degree? 

Frugal is the new Black. 

wat?

They get taxed more than you or I do. 

They are taxed to the same degree; even more. There are tax brackets in this country. 

there are plenty of laws designed so that the rich can dodge certain taxes. 

Sorry, I'm assuming you make less than the damn richies do 

There are plenty of laws so that anyone can dodge certain taxes.
The rich just have more incentive. 

The Economy

sucks. 

Anyways, back to the economy.

I'm not really seeing it hit hard around here, but I live in a small area.

Maybe more places are going under, I don't know 

bobby3eb said:

there are plenty of laws designed so that the rich can dodge certain taxes.

you're flailing here, bro. First you said the rich should be taxed more, that they aren't taxed do the same degree, and now you're saying there's too many loopholes?

They have the same tax laws you and I do. Go find the loopholes for yourself (there are plenty).

Don't poop on the rich just because you're jealous of their sexy cars and big-tittied womens. 

I think we'll be okay. I work for a regulated monopoly, and the job security here is pretty solid. My husband works in media finance, but although his company is shady, the CEO and his boss love him, so he'll be the last to go. He's in the executive pool... they'll fire all the consultants and superflous freelancer bs artists before he goes. We own our home at a fixed low % mortgage, and we have a good familial support system.

Personally, we're okay, but I still think the economy as a whole is going to shit. 

Wait, you're married?? 

I have yet to actually see the US economy taking a hit at anywhere but the gas stations, stocks, and on the news. People are living like they always have, with the exception being higher gas prices. It's my opinion that this is just a scare and it'll blow over in a year or two. 

but I still think the economy as a whole is going has gone to shit.

 

I know my life really hasn't changed minus a few more bucks outta my pocket for higher gas.

I'm actually buying more shit now 

I work in an industry that relies on Advertising, and we've seen lots of advertisers pulling back on spending. Supposedly our economy is doing better than most, but 'm not really seeing much difference short of gas prices and higher grocery bills. 

The prices of 'everyday items' as well as prices of byproducts of oil have jumped significantly in the past year or two. I don't know exactly how all the ramifications of that will play out, but I feel that it'll probably take a while for it to sift through everyone and make some kind of a lasting impact. I don't feel that it is just a scare that'll blow over with no side effects. 

Sephirenn said:

I have yet to actually see the US economy taking a hit at anywhere but the gas stations, stocks, and on the news. People are living like they always have, with the exception being higher gas prices. It's my opinion that this is just a scare and it'll blow over in a year or two.

I'm with you on that. It seems the media is full of doom and gloom but the indicators don't back them up. Some areas are being hit hard but around here things are still on the upswing. 

BTW

Is there anything out there right now on the effect of those stimulus checks? 

yes, damn their hard work and entrepreneurial spirit!

That is to assume that people who are rich are that way because hard work or entrepreneurial skills, which I can't say I agree with. 

Consumer spending was up some not-so-significant amont (0.8%, I think), and some speculated that the checks were the reason. 

inntheory said:

That is to assume that people who are rich are that way because hard work or entrepreneurial skills, which I can't say I agree with.

other than inherited wealth, how the hell do you think folks got their wealth? People throwing money at them for no reason? 

Is there anything out there right now on the effect of those stimulus checks?

Yeah, there was a tiny jump in consumer spending in June, which economists attributed to the checks, however with the money now spent there will likely be a tiny correcting drop in July. 

I don't doubt that was the case. 

other than inherited wealth, how the hell do you think folks got their wealth?

lawsuits
lottery
conning people 

Is there anything out there right now on the effect of those stimulus checks?

Last I heard is that only 60% of them had been cashed (about a month ago)

And in a related note... Bill Gates has enough money that he could have single handedly paid the Economic Stimulous Checks. 

Actually it was the largest monthly jump since the Ford administration issued $50 checks during a similar stimulus program in the 70s. 

I have yet to actually see the US economy taking a hit at anywhere but the gas stations, stocks, and on the news. People are living like they always have

What? Is your head in the sand?
Small businesses in my town are going under left and right!
You can ride through neighborhoods and for sale signs every where like crazy! The county we live in has approximately 75,000 population wise. Thursdays paper had 8 pages of foreclosures.
And the grocery stores, wow! Have you been shopping lately?
My wife is a manager for a major chain grocery store here in town and they have raised prices 30% in the last 2 months alone. And when the employees yearly reviews came up, do you know what the average raise was? 8 cents an hour. My wife was one of the lucky ones getting a whopping 14 cent an hour raise.
A gallon of milk is almost $7 here.
A 12 pack of cokes is $5.09 at Wal-mart. $5.09 FOR A 12 PACK!
I could go on and on!
Gas in town this morning was at $4.13 a gallon to boot.
If you even get a speeding ticket here, there is a $12 fuel surcharge added to it!

This has affected every facet of our lives here, whether you have seen it or not.

Hopefully it is a scare that will blow over in a year or two, like you said, but damn what a scare. 

I didn't get one and I went ahead and spent money, I'm a true American.