Question about the economygreenspun.com : LUSENET : Countryside : One Thread
Since we're in a kind of political mood, I have a question that has been bothering me for some time. The current administration keep bragging about the economy and how they are responsible for it. Are they responsible? Or does it take awhile for policies to take hold? In other words, is the current economy a result of past administrations? Is it the high tech industry that created it? I have been looking for websites that explain this subject, but so far no luck. Anyone know of any or have their own ideas? By the way, "my economy" hasn't changed for the better!:)
-- Annie (firstname.lastname@example.org), August 05, 2000
Don't feel alone. My "local economy" isn't all that hot either. Part of the reason the economy appears to be good is the government has changed the way the gross domestic output is figured. Remember that it used to the gross national product. Another reason is they have also changed the way the cost of living is figured. It is my understanding that they no longer include the cost of foodstuffs or energy used in the home. A third reason the economy looks good is most house holds have all the adults in them working full time. By adults, I mean any one who is over the age of 16. At least that is the way it is here. Most of the kids in the last 2 years of high school are also pulling a minimum of 30 hours work/week. All this serves to make it look like there is a lot of money floating around. There is a lot of money floating to banks to cover house, car, and boat loans around here. Still, everyone cries that they just don't have enough money. Part of the problem there is they just want too much and expect to get it. You might be able to find articles on the economy in the archives of major on line newspapers, like the Dallas News or World Net Daily or any of the others. Most do not charge to get articles out of the archives, you just do a word search on their websites. Also, you might try www.dogpile.com as a search engine for almost anything. That is a search engine that actually uses 9 other search engines. It usually turns up something of use and interest.
-- Green (email@example.com), August 05, 2000.
There are a lot of reasons the numbers the government likes say the economy is doing well. It's only doing well if you think bigger is always better.
Here are some of the reasons others have claimed for the hot economy since it warmed up, what, 10 years ago:
1) Reagan's trickle-down economics having enough time to pay off.
2) Bush's economic policy
3) Clinton's economic policy
4) The Baby Boomers hitting their peak income levels.
5) Freer trade.
6) People too dumb to save going in debt.
7) Because the Government says it's better.
8) Allen Greenspan's policies.
9) Tax cuts by the Republicans.
10) Tax increases by the Democrats.
11) Cheap energy
12) The Web & other high-tech stuff.
About the only politician that hasn't taken credit (or been given credit) is Jimmy Carter.
-- paul (firstname.lastname@example.org), August 05, 2000.
Paul, I vote for number 6...easy credit, easy living. Nice illusion of prosperity. Just don't lose your job...and keep believing all that advertising... you really NEED all that stuff. Honest....
-- sheepish (email@example.com), August 06, 2000.
Thanks all for the answers. Was watching a news show this morning and they were talking about just this subject. One of the panelist gave a great answer for the strong economy. 5 percent the President, 5 percent the Congress and 90 percent credit to the American people! Someone needs to tell this to the glory stealing President we have.
-- Annie (firstname.lastname@example.org), August 06, 2000.
We live in the greatest country in the world in the midst of the strongest economy the world has ever known, so stop your whining. Alan Greenspan, with a little help from technology, has made it all possible. The only credit Bill Clinton gets is that he reappointed Greenspan. Anyone who wants to work can do so. Anyone who wants a better job, can go back to school. Please don't respond with flimsy excuses about why you can't. If you think the economy is bad, then you don't need to be a homesteader.
-- Jim (email@example.com), August 06, 2000.
Hi Jim, I didn't think I was whining, I was really asking a legit. question. Before I vote this November for either party, I would like to have as many facts on alot of issues as possible. In other words, has the current admins. really "made" this economy as alot of people seem to think? If Bush gets in will things go downhill? I'm not tied to either party, I always vote for who I think will be the lesser of two evils. Sorry if it seemed like I was whining, that wasn't my intention. Was just trying to figure this all out.
-- Annie (firstname.lastname@example.org), August 06, 2000.
How about "mythical money". You can print paper and spread it around like peanut butter but where is the gold to back it ? If we really demanded hard currency I think we might find there is not really one penny per per dollar left. All the money is just a pipedream.
-- Joel Rosen (Joel681@webtv.net), August 06, 2000.
I think that the economy for working folks is in deep trouble. It now takes a lot more hours worked to purchase the same goods, in a lot of areas. Of course we no longer consider "the volitle food and energy sectors". Let's see gas 87.9 cts. a gallon a year ago or less and $1.44 a gal. today...oops that does not count. Look for increases in the cost of heating fuel very soon (pretty hard to live without it, and the cost increase will not count). Where I live folks are cutting up $1,000 an acre tracts of rough land and selling them in 5 acre parcels for $16,900 ($1,000 down). This sounds like runaway inflation to me. It serves as a vehicle to increase my property taxes severely. Does not make me any money, and creates a lot of income for the bankers and lawyers who are doing the subdividing. Oops sorry these are not working folks...At any rate I think that we are in for a bout of runaway inflation that will make the '70's look like a walk in the park.
-- Ed Copp (email@example.com), August 06, 2000.
I think Alan Greenspan is a shell game hustler and too many revere him as a god. He has a great job. If the government agreed to pay me print the stuff we agreed to call money and never audit me, I would be super optimistic about the future. At least my own. When they took us off of the gold standard we might as just have agreed to call potato chips money and the crumbs could all be change. By real accounting the economy isn't what they claim it to be. Debt is the biggest commodity.
-- Doreen (firstname.lastname@example.org), August 07, 2000.
The party occupying the White House will ALWAYS claim credit for the great economy. And when the economy turns sour, it's always the OTHER party's fault. That's politics, but that's not the economy. If the two major political parties have learned anything, it's that they can tinker with the economy, just don't try to screw it. Collect a reasonable amount of taxes and stay the H*LL out of the market place.
I agree with Jim in the part that Allen Greenspan had a lot to do with where the economy is today. In case you haven't noticed, he is probably the most powerful man, next to the President, in the free world. He can bring entire countries to their knees just by raising or lowering interest rates. But I give the guy credit. He isn't afraid to rachet up the rates when things get hot, or lower them to open the cash flow. He's tough and conservative. That's why I disagree with Ed that runaway infaltion is just around the corner. Not with men like Allen with their hands on the money levers. He's very good at what he does. And if you don't like it, his term of office is up in 2004.
Joel, I agree and disagree with you. Here's an analogy. If the business day started at 8:00 A.M. and you insisted that all transactions be backed with gold, the markets would close at 8:05. If you allowed business to continue with paper money only, you could continue until 8:20. From 8:21 until 5:00 P.M., EVERYTHING ELSE IS CREDIT!!! Be it good, bad or ugly, the world spins on credit. Gold is now just a commodity like everything else. And that's how it should be. You know better than I do Joel, that in some parts, tobacco is more valuable than gold. And in many parts of the world, fresh water is more valuable than oil. They all have one think in common. They're hard to drag around!
-- Craig Miller (CMiller@ssd.com), August 07, 2000.