A Rolling Economy Going Unoticed

newhouse1390 · 01-06-2006, 03:05 PM

http://news.yahoo.com/s/ap/20060106/...re/wall_street

The MSM should be cheering about the new jobs added, unemployment dropping to 4.9%, and the Dow nearing 11,000. Can you imagine if Clinton were President? The Bush tax cuts work and these numbers proove it, now we need to make them permanent.

**bruiser** · 01-06-2006, 04:44 PM

You're right about the economy Newhouse, but the MSM's goal is not to promote Bush, but to hinder him every which way they can. Wait and see, they will find all kinds of reasons why the economy has been run into a ditch.

**crazijoe** · 01-06-2006, 06:42 PM

Yes unemployment is down and the and the market is good but who is benefiting from all this? Not the working class. All the new jobs are low paying, the benefits for employees are subpar, the only people I see it helping are the rich.
Sure people are spending money, but is that money that they really have.
I never liked Clinton, but I'd have to say, I was living better when he was the president.

newhouse1390 · 01-06-2006, 06:48 PM

Quote:

Yes unemployment is down and the and the market is good but who is benefiting from all this? Not the working class. All the new jobs are low paying, the benefits for employees are subpar, the only people I see it helping are the rich.
Sure people are spending money, but is that money that they really have.
I never liked Clinton, but I'd have to say, I was living better when he was the president.

Example 1.

yustr · 01-06-2006, 09:18 PM

Wall Street wrapped up a disappointing year Friday with a rally-killing selloff, sending the stock market to its lowest levels since before Thanksgiving and dunking the Dow Jones industrial average into negative territory for the year.

It was a year of big bonuses and hefty raises for highly skilled professionals and executives but slim pickings for the ordinary working Joe. Such tepid wage growth is particularly disappointing given the strong productivity advances posted by the private business sector over the last year.
-- Peter Morici, University of Maryland

Not as robust as you want it to be...

newhouse1390 · 01-07-2006, 06:31 AM

The economy in its broadest term can be described as good and getting better. You can always find little numbers that are going to put it in the red but overall...two major hurricanes...high gas prices...and the Dow is back where it was before 9/11? That is very nice economic growth in my book. Thanks to the Bush Tax Cuts!

ebackhus · 01-07-2006, 07:17 AM

We'll see if I'm happy with these "tax cuts" once I do my taxes.

mimo2005 · 01-07-2006, 10:40 AM

China signals switch in reserves away from dollar.

http://www.nytimes.com/glogin?URI=ht...Q5EQ20.aQ60Dlj

curious : is this good for the US or bad ?

**crazijoe** · 01-09-2006, 06:15 AM

Quote:

Originally Posted by newhouse1390

Example 1.

Am I reading this wrong or what?

yustr · 01-09-2006, 06:47 AM

From the Economic Policy Institute ( http://www.epi.org/content.cfm/webfeatures_econindicators_income20050831

Quote:

The key factor behind the deterioration of real household income and increase in poverty is the prolonged labor market slump that began in 2001. Although the job market expanded consistently in 2004—the Census report shows the addition of 1.5 million workers in 2004 over 2003—this addition was not faster than the growth of total households and not enough to absorb the labor market slack left over from the longest jobless recovery on record. These conditions are constraining the bargaining power of many in the workforce, such that the benefits of overall growth are failing to reach working families.

The unbalanced nature of the economic recovery is also documented in the latest Census release. While the share of total national income flowing to the bottom 60% of households was essentially unchanged, the share going to the top 5% was up 0.4 percentage points, from 21.4% to 21.8%. As of 2004, the top fifth of households held 50.1% of all income, tied with 2001 for the highest share on record. Similarly, as shown in Figure 2, while the average real income of middle-income households fell slightly (down $300 or 0.7%—from $44,759 to $44,455), that of households in the top 5% grew by over $4,000 (+1.7%), from $260,045 to $264,387.

See chart below.

newhouse1390 · 01-10-2006, 01:07 PM

Quote:

From the Economic Policy Institute (http://www.epi.org/content.cfm/webfe...income20050831

Quote:
The key factor behind the deterioration of real household income and increase in poverty is the prolonged labor market slump that began in 2001. Although the job market expanded consistently in 2004—the Census report shows the addition of 1.5 million workers in 2004 over 2003—this addition was not faster than the growth of total households and not enough to absorb the labor market slack left over from the longest jobless recovery on record. These conditions are constraining the bargaining power of many in the workforce, such that the benefits of overall growth are failing to reach working families.

The unbalanced nature of the economic recovery is also documented in the latest Census release. While the share of total national income flowing to the bottom 60% of households was essentially unchanged, the share going to the top 5% was up 0.4 percentage points, from 21.4% to 21.8%. As of 2004, the top fifth of households held 50.1% of all income, tied with 2001 for the highest share on record. Similarly, as shown in Figure 2, while the average real income of middle-income households fell slightly (down $300 or 0.7%—from $44,759 to $44,455), that of households in the top 5% grew by over $4,000 (+1.7%), from $260,045 to $264,387.

See chart below.

Example 2.

yustr · 01-10-2006, 02:56 PM

Come on Newhouse don't make us guess at your points. .

**crazijoe** · 01-10-2006, 05:52 PM

Quote:

Originally Posted by newhouse1390

http://news.yahoo.com/s/ap/20060106/...re/wall_street

The MSM should be cheering about the new jobs added, unemployment dropping to 4.9%, and the Dow nearing 11,000. Can you imagine if Clinton were President? The Bush tax cuts work and these numbers proove it, now we need to make them permanent.

What is your point???

**Fox** · 01-10-2006, 05:58 PM

Ooh I think I'm catching on. Let's make a constitutional amendment that would allow for bush to stay on as president indefinitely. Then I'll start taking bets as to who's going to throw the first missile our way for alienating the entire world with our arrogance.

yustr · 01-10-2006, 06:47 PM

I think newhouse is mearly parroting the administration's weekend blitz of the news shows trumpeting how great the economy is. The ony problem is they don't have a clue that what they know of life isn't what most of us know of life. As evidenced by the graph I posted, Bush's policies have helped mostly those in the upper 20%. The rest of us have lost ground.

Does anyone know of a website where new jobs are compared to salary for those jobs? I'd wager that most all of them are in the bottom of the range. So a guy making $70K loses his job and there's one available waiting for him. Great - thanks Mr. Bush. Only this one pays $25K and there are no benefits. Is he unemployed? No. Is he better off? Hell no.

newhouse1390 · 01-10-2006, 07:39 PM

Quote:

The MSM should be cheering about the new jobs added, unemployment dropping to 4.9%, and the Dow nearing 11,000. Can you imagine if Clinton were President? The Bush tax cuts work and these numbers proove it, now we need to make them permanent.

My point here is that we have to give credit where credit is due. The economy is strong and getting stronger. The economy has no where to go but up. I am not trupting the good news, but I am completing the task that so many in the media seem to ignore. I feel that they downplay any good news that might give credi to the Bush Admin. Not just on the economy but on everything.

Good News that has failed to be mentioned...
The GDP was at 4.0% with an 8% growth rate. (The highest in 8 years)

More Americans own a home. In fact in the last 4 years we have seen the biggest growth in home ownership in 20 years.

Manufacturing jobs again soared to a new high.

There are some key points that I think are worth mentioning on my part and worth acknowledging on your part. I see your concerns with this economy. But let me assure you that it is going to serve you well here soon. I am not sure of you financial situation, but as far as I'm concerned this economy is good and getting better. I think it is just how you look at the glass...is it half full or half empty?

01-06-2006, 03:05 PM	#1 (permalink)
newhouse1390 Member, Networking Team Join Date: Jan 2005 Location: Ohio Posts: 1,040 OS: Windows Server 2003	A Rolling Economy Going Unoticed http://news.yahoo.com/s/ap/20060106/...re/wall_street The MSM should be cheering about the new jobs added, unemployment dropping to 4.9%, and the Dow nearing 11,000. Can you imagine if Clinton were President? The Bush tax cuts work and these numbers proove it, now we need to make them permanent.

01-06-2006, 06:42 PM	#3 (permalink)
crazijoe Moderator, Hardware Forums Join Date: Oct 2004 Location: Omaha, The Center of the Universe Posts: 7,632 OS: WinXP, Win2K3 My System	Yes unemployment is down and the and the market is good but who is benefiting from all this? Not the working class. All the new jobs are low paying, the benefits for employees are subpar, the only people I see it helping are the rich. Sure people are spending money, but is that money that they really have. I never liked Clinton, but I'd have to say, I was living better when he was the president. __________________ Microsoft MCSA + Messaging, MVP, A+, Network+ Do you want a real Republican? HDD diagnostic tools / HDD data recovery software

01-06-2006, 09:18 PM	#5 (permalink)
yustr Asst. Manager, The Conversation Pit Join Date: Sep 2004 Location: Connecticut shore/California Desert Posts: 4,862 OS: PCLinuxOS, XP Pro My System	Wall Street wrapped up a disappointing year Friday with a rally-killing selloff, sending the stock market to its lowest levels since before Thanksgiving and dunking the Dow Jones industrial average into negative territory for the year. It was a year of big bonuses and hefty raises for highly skilled professionals and executives but slim pickings for the ordinary working Joe. Such tepid wage growth is particularly disappointing given the strong productivity advances posted by the private business sector over the last year. -- Peter Morici, University of Maryland Not as robust as you want it to be... __________________ I didn't mean to say it. But I meant what I said. J. McMurtry In Vino Veritas

01-07-2006, 07:17 AM	#7 (permalink)
ebackhus Asst. Manager, Design Join Date: Apr 2005 Location: SATX Posts: 12,721 OS: WinXP Pro SP3 My System Blog Entries: 25	We'll see if I'm happy with these "tax cuts" once I do my taxes. __________________ ----------------------------- There are no dumb questions, unless a customer is asking them. Help in the fight against cancer and other serious illnesses.

01-07-2006, 10:40 AM	#8 (permalink)
mimo2005 Manager, The Relaxation Room/Analyst, Security Team Join Date: Oct 2004 Posts: 10,745 OS: xp	China signals switch in reserves away from dollar. http://www.nytimes.com/glogin?URI=ht...Q5EQ20.aQ60Dlj curious : is this good for the US or bad ? __________________ TSF has outgrown its server, again. Please help "Gutta cavat lapidem, non vi sed saepe cadendo"

01-06-2006, 04:44 PM	#2 (permalink)
bruiser TSF Enthusiast Join Date: Jul 2005 Posts: 1,648 OS: xp	You're right about the economy Newhouse, but the MSM's goal is not to promote Bush, but to hinder him every which way they can. Wait and see, they will find all kinds of reasons why the economy has been run into a ditch.

01-07-2006, 06:31 AM	#6 (permalink)
newhouse1390 Member, Networking Team Join Date: Jan 2005 Location: Ohio Posts: 1,040 OS: Windows Server 2003	The economy in its broadest term can be described as good and getting better. You can always find little numbers that are going to put it in the red but overall...two major hurricanes...high gas prices...and the Dow is back where it was before 9/11? That is very nice economic growth in my book. Thanks to the Bush Tax Cuts!

01-10-2006, 02:56 PM	#12 (permalink)
yustr Asst. Manager, The Conversation Pit Join Date: Sep 2004 Location: Connecticut shore/California Desert Posts: 4,862 OS: PCLinuxOS, XP Pro My System	Come on Newhouse don't make us guess at your points. . __________________ I didn't mean to say it. But I meant what I said. J. McMurtry In Vino Veritas

01-10-2006, 05:58 PM	#14 (permalink)
Fox Moderator, Microsoft Support Join Date: Sep 2002 Location: NJ Posts: 7,752 OS: XP Pro, CentOS My System	Ooh I think I'm catching on. Let's make a constitutional amendment that would allow for bush to stay on as president indefinitely. Then I'll start taking bets as to who's going to throw the first missile our way for alienating the entire world with our arrogance. __________________ Antec Neo Power 500W, ABIT IP35-E, Intel E2180@2.66Ghz, Corsair XMS2 2x1GB DDR2-800, PNY 8800GT, 320GB Seagate * lazy college student alert *- If I've inadvertently ignored a thread, please Let me know about it Have I helped you solve your problem? Donate to Techsupportforums Klart Skepp!

01-10-2006, 06:47 PM	#15 (permalink)
yustr Asst. Manager, The Conversation Pit Join Date: Sep 2004 Location: Connecticut shore/California Desert Posts: 4,862 OS: PCLinuxOS, XP Pro My System	I think newhouse is mearly parroting the administration's weekend blitz of the news shows trumpeting how great the economy is. The ony problem is they don't have a clue that what they know of life isn't what most of us know of life. As evidenced by the graph I posted, Bush's policies have helped mostly those in the upper 20%. The rest of us have lost ground. Does anyone know of a website where new jobs are compared to salary for those jobs? I'd wager that most all of them are in the bottom of the range. So a guy making $70K loses his job and there's one available waiting for him. Great - thanks Mr. Bush. Only this one pays $25K and there are no benefits. Is he unemployed? No. Is he better off? Hell no. __________________ I didn't mean to say it. But I meant what I said. J. McMurtry In Vino Veritas