Google groups trouble trying 4th time:
On Aug 10, 6:43 am, MooseFET <
[email protected]> wrote:
[..]
The economy is doing so-so at best. We have a mixed collection of
measures of it.
Indications are always mixed--it's quite impossible for all sectors to
simultaneously boom, as many are in competition.
Overall, growth, inflation, employment, etc. are as good as it gets.
If you're not happy now, you never will be.
You haven't looked closely enough. Right now the US is running a
large deficit and has quite low interest rates. These are both things
that in the short term stimulate the economy. It is like a car with
the gas pressed all the way to the floor and only gets up to 45 MPH.
It is a lot faster than I can run but still a lot less that should be
expected.
Exactly how fast do you think the economy should grow? The Federal
Reserve Board has been trying to *slow* the economy since mid-2004,
and that's still their focus today. Perhaps you should e-mail Mr.
It isn't the growth rate that bothers me. The car is going 45 MPH
that is a reasonable speed. It is the fact that the the foot is so
close to the floor that worries me.
Bernanke:
http://www.federalreserve.gov/feedback.cfm
As for the deficit, I don't like it, but find it hard to understand
why you think it's related to GDP, or why 3% of GDP would make any
difference in the short haul. It won't.
I either don't understand what you are trying to state there or you
are trying to say that something that is well know to be true is
false. I will let you restate the above.
I understand you believe these things. I invite you to show the
quantitative basis for those beliefs.
It would help if you define some of your terms--what is "middle
class"?
The middle class usually taken to be the socioeconomic class between
the working class and the upper class. They are the businessmen and
shop keepers etc. Working class are those who work for a wage (ie:
most of the people). Of late, however, the upper end of the labor
class has taken to calling its self middle class.
What is "standard of living"? Do you mean that real wages
have decreased?
If they are collecting wages they really aren't middle class taking
the classic definitions. But as many americans would define it, yes
that would be included in the decrease.
Kindly show that. Be sure to include benefits--
retirement and healthcare in your figures...the result may surprise
you.
I doubt it:
Smart business folks are starting to prepare for the decrease as in:
http://www.foodprocessing.com/articles/2005/404.html
Between 2001 and 2004, there was a 10.5% decrease in the portion of
the middle class that had three months of wages in economic wealth.
Average household income for working families when adjusted for
inflation was $46,058 in 2000 and has since declined to $44,389.
There has also been a decline in the average value of benifits.
This article (below) shows the debt or decreases in savings to
maintian the life style.
http://www.csmonitor.com/2007/0802/p02s01-usec.html?page=1
The article below makes the point about the growth being less than
should be expected. The numbers are at the bottom.
http://www.cbpp.org/8-9-05bud.htm
Do you have any figures?
On Aug 10, 6:43 am, MooseFET <
[email protected]> wrote:
[..]
The economy is doing so-so at best. We have a mixed collection of
measures of it.
Indications are always mixed--it's quite impossible for all sectors to
simultaneously boom, as many are in competition.
Overall, growth, inflation, employment, etc. are as good as it gets.
If you're not happy now, you never will be.
You haven't looked closely enough. Right now the US is running a
large deficit and has quite low interest rates. These are both things
that in the short term stimulate the economy. It is like a car with
the gas pressed all the way to the floor and only gets up to 45 MPH.
It is a lot faster than I can run but still a lot less that should be
expected.
Exactly how fast do you think the economy should grow? The Federal
Reserve Board has been trying to *slow* the economy since mid-2004,
and that's still their focus today. Perhaps you should e-mail Mr.
Bernanke:
http://www.federalreserve.gov/feedback.cfm
As for the deficit, I don't like it, but find it hard to understand
why you think it's related to GDP, or why 3% of GDP would make any
difference in the short haul. It won't.
The US has a decreasing size of middle class. The working class is
seeing a net loss of standard of living. Most of the middle class is
also seeing a decrease in standard of living. The debt is piling up
and the average worker age is increasing. None of these are things by
them selves would be a major problem but combined they point to a
decline.
There is also a serious concentration of power and wealth happening.
The trend is towards a small number of companies being a big fraction
of the economy. This is never a good thing for the long term survival
of an empire. It leads to a fragile situation. With many small
companies, a mistake only impacts a small part of the economy.
Increasingly, a mistake by a company impacts a larger part of the
overal economy.
I understand you believe these things. I invite you to show the
quantitative basis for those beliefs.
It would help if you define some of your terms--what is "middle
class"? What is "standard of living"? Do you mean that real wages
have decreased? Kindly show that. Be sure to include benefits--
retirement and healthcare in your figures...the result may surprise
you.
Cheers,
James Arthur
