Aces High Bulletin Board
General Forums => The O' Club => Topic started by: Krusher on December 09, 2005, 09:31:27 AM
-
Is it as bad as Paul Krugman says or as good as the Federal reserve claims?
Unemployment has held steady at about 5 percent for a long time now.
Monster.com says its online index of recruitment is at its highest level ever.
The growth rate has been above 3 percent for 10 straight quarters the 2nd longest since the mid 80's.
The 3rd quarter of this years was revised up from 3.8 to 4.3 and that was with all the hurricanes and the high fuel prices. Overall it is higher than it has been in 30 years. And it matches up perfectly with the tax cuts that were introduced in 2003
Inflation is low.
Interest rates are still good.
Worker productivity is at a 2 year high.
Demand for manufactured goods rose by 2.2 percent to $399.8 billion.
The growth in federal tax revenues has sky rocketed since the Bush tax cuts.
(http://taxprof.typepad.com/./photos/uncategorized/revenue20growth.jpg)
-
I'm a dumby on this subject but I'm not so sure inflation is low. I'd also venture to say that if the housing market goes bust than the economy will follow.
-
Originally posted by Krusher
Is it as bad as Paul Krugman says or as good as the Federal reserve claims?
[/IMG]
Krugman doesn't say the economy is bad, he says you can't spend what you don't have forever like a drunken sailor. In my conservtaive upbringing, republicans used to say that too.
Even Reagan figured that out and raised taxes.
The "facts" used to attack Paul K normally are cherry picked. He's a theorist and big picture guy but folks attack him with minutiae so the debate is silly, he's been accurate on many calls but no economist is right all the time and economics looks at trends, not one month's or three years of poo-poo.
One thing you don't hear anymore is the guys saying presidents don't make or break economies like you did when Clinton was in office or in W's first 4 years.
Sakai
-
Originally posted by Sakai
One thing you don't hear anymore is the guys saying presidents don't make or break economies like you did when Clinton was in office or in W's first 4 years.
Sakai
I said it then and I'll say it now.
Presidents dont make or break economies
there. now you cant say you dont hear it anymore
-
BOOOSH'S FAULT! ;)
-
cutting spending is a great idea... raising taxes is a bad idea.
lazs
-
Originally posted by Sakai
One thing you don't hear anymore is the guys saying presidents don't make or break economies like you did when Clinton was in office or in W's first 4 years.
Sakai
ha ha ha ha ha ha ha ha ha ha ha...
That's funny cause All I rember hearing from the last election was that "Kerry was a vet." and the "Bush economy"
-
Originally posted by Sakai
Krugman doesn't say the economy is bad, he says you can't spend what you don't have forever like a drunken sailor. In my conservtaive upbringing, republicans used to say that too.
That is one of the things he says, but he also has been harping on how bad the economy is for years including his last article dec 5th. The Joyless economy
The economy is not driven by the president and other than tax cuts Bush has nothing to do with this one.
I dont think you need reminding that Clinton came into office calling the economy the worst in 50 years and left office calling it the best in 50 years.
Clinton had the benifit of a computer and internet boom. Bush has the benifit of a housing boom. I will rephase my question because I know how much of a Krugman cheerleader you are.
Is this economy good or bad?
-
Originally posted by Gunslinger
I'm a dumby on this subject but I'm not so sure inflation is low. I'd also venture to say that if the housing market goes bust than the economy will follow.
Inflation is low - InflationData.com
The talking heads have been hyping the housing bubble bust for 2 years now and it has not happened. MY reit has gone up 33 percent this year alone, I siphon off the profits to a different investments quarterly.
There are parts of the country (like Dallas) that won't even notice the bubble pop because we didn't ride it up, but I feel sorry for Miami, San Francisco, NY and anyplace the crazy flippers are operating. Flippers are to this economy what the dot commers were to the late 90's.
-
When they say "Inflation", they mean the inflation rate. I think Normal is around 5%, but I'd have to check.
cutting spending is a great idea... raising taxes is a bad idea.
lazs
Both of these put a hamper on economic growth. You mainly ever use them when you are nearing the peak of an economic boom.
-
Originally posted by Krusher
Inflation is low - InflationData.com
The talking heads have been hyping the housing bubble bust for 2 years now and it has not happened. MY reit has gone up 33 percent this year alone, I siphon off the profits to a different investments quarterly.
There are parts of the country (like Dallas) that won't even notice the bubble pop because we didn't ride it up, but I feel sorry for Miami, San Francisco, NY and anyplace the crazy flippers are operating. Flippers are to this economy what the dot commers were to the late 90's.
Yet being the operative word.
I remember warnings of the bubble popping in the 90s and nobody wanted to hear it let alone beleive it.
till it happened
-
Originally posted by Krusher
The talking heads have been hyping the housing bubble bust for 2 years now and it has not happened.
It's coming down here slowly, they are still over valued though. We are looking in Derry, NH right now and houses have been sitting since july, some of them have come down almost 40k
-
Originally posted by Gunslinger
ha ha ha ha ha ha ha ha ha ha ha...
That's funny cause All I rember hearing from the last election was that "Kerry was a vet." and the "Bush economy"
Kerry was a vet, and if you stop to think about what I posted, you'd understand who you shoud be laughing about.
;-)
Sakai
-
Originally posted by Krusher
Inflation is low - InflationData.com
The talking heads have been hyping the housing bubble bust for 2 years now and it has not happened. MY reit has gone up 33 percent this year alone, I siphon off the profits to a different investments quarterly.
It isn't a possibility, it's a probability. The bubble burst during the 1990s too, although many "talking heads" said it would last forever.
Krugman's fame came from being the only major economist to identify a crisis in the pacific rim some time back. As he himself notes, that hardly means he knows everything.
Sakai
-
Originally posted by Sakai
Kerry was a vet, and if you stop to think about what I posted, you'd understand who you shoud be laughing about.
;-)
Sakai
OMG Kerry was a vet????? I didn't know......actually that's alot of what you did hear during the election.....that and how bad the "Bush Economy" is OH "Tax cuts for the rich" as well.
Why is it that you have to make an economy discussion about partison politics?