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2006-04-28 Home Front Economy

U.S. Economy Still Expanding at Rapid Pace

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Posted by Steve White 2006-04-28 00:00|| || Front Page|| [11139 views since 2007-05-07] Top

#1 Where is this mythical 'expanding economy'? What state? what city? you never see that information. I sure haven't seen it. The economy in Illinois is slowing noticeably, going from slow to static and the gas price increase has locked up the brakes. For example IL lost 100,000 jobs in the last 3 years.

Posted by Glenter Shilet1240 2006-04-28 00:10|| 2006-04-28 00:10|| Front Page Top

#2 "the bigger economic risks may be that interest rates or gas prices reach a tipping point that damages growth"

They said hopefully.

The NYT is tanking financially; looks like they want the rest of the country to follow.

Morons.

Posted by Barbara Skolaut"> Barbara Skolaut 2006-04-28 00:12|| http://ariellestjohndesigns.com/page/15bk1/Home_Page.html]">[http://ariellestjohndesigns.com/page/15bk1/Home_Page.html] 2006-04-28 00:12|| Front Page Top

#3 "For example IL lost 100,000 jobs in the last 3 years."

The gains have been in the South and the Sun-belt.

Posted by Fordesque 2006-04-28 00:42|| 2006-04-28 00:42|| Front Page Top

#4 The Illinois government is under the impression employment is rising and unemployment is falling.

Fordesque must have access to secret data only available to idiot leftists.

Posted by phil_b">phil_b 2006-04-28 00:48|| http://autonomousoperation.blogspot.com/]">[http://autonomousoperation.blogspot.com/] 2006-04-28 00:48|| Front Page Top

#5 Idiot, perhaps. Leftist, non.

However, it is a fact that most metropolitan, high-tax regions have been losing both jobs and population to lower-tax, more 'amenable' areas.

Posted by Fordesque 2006-04-28 00:55|| 2006-04-28 00:55|| Front Page Top

#6 They may be losing relative to other areas. However, it is a fact that in absolute terms Illinois is gaining employment.

Posted by phil_b">phil_b 2006-04-28 01:09|| http://autonomousoperation.blogspot.com/]">[http://autonomousoperation.blogspot.com/] 2006-04-28 01:09|| Front Page Top

#7 phil, do you have a degree in economics? Just askin'.

Posted by no one 2006-04-28 01:28|| 2006-04-28 01:28|| Front Page Top

#8 Nope, I'm a psychology grad, who dropped out of a postgrad program (in psychology). I also studied genetics.

A basic understanding of economics is IMHO a prerequisite for commenting on many (most?) issues in the modern world.

Posted by phil_b">phil_b 2006-04-28 06:21|| http://autonomousoperation.blogspot.com/]">[http://autonomousoperation.blogspot.com/] 2006-04-28 06:21|| Front Page Top

#9 I've worked in the engineering construction industry for 30 years. It never been this busy in my time. The contractor rates have never been this high. The next five to ten years are gonna be very profitable.

Posted by BrerRabbit 2006-04-28 07:11|| 2006-04-28 07:11|| Front Page Top

#10 Typical LLL Moonbat response: "Nobody has come to my door and personally asked me to take a job, so the economy must suck." or "My job as a fry cook at McDonalds hasn't earned me anymore money over the past seven years, so the economy must suck." or: "My organic earthworm farm and ocra garden hasn't turned a profit, so the economy must suck." and finally: "I haven't been able to find a job even though I have a Masters Degree in Art history with a minor in ethnic studies, so the economy must suck." You really have to feel pity for them.

Posted by Cyber Sarge 2006-04-28 07:34|| 2006-04-28 07:34|| Front Page Top

#11 I've seen that the economy in the northeast and larger cities in the rust belt is still sucking and people are leaveing in droves. However, in the flyover states and the south things are booming. Ironically, the states with the heaviest taxes have the worst economies. Cause and effect chums. You tax the hell out of people and buisnesses, they leave for better places.

Posted by DarthVader 2006-04-28 10:18|| 2006-04-28 10:18|| Front Page Top

#12 BS: The NYT is tanking financially

I'm afraid that's wrong - the stock is tanking, but the business is doing fine. It ended 2005 with a 7.5% net profit margin. The average for American industry is about 5%.

Liberals are capitalists when it comes to running businesses in which they have an ownership stake. They will fire people, avoid taxes and push for special exemptions as much as the next person. That's why liberal-run media businesses do as well or even better than conservative-run media businesses like Hollinger and Reader's Digest, both of which have been *losing* money for a while.

Posted by Zhang Fei 2006-04-28 10:54|| http://timurileng.blogspot.com]">[http://timurileng.blogspot.com] 2006-04-28 10:54|| Front Page Top

#13 Sorry guys, but outsider perspective thinks US not doing so well on macro level.

US$ has tanked, USDX shows big loss of buying power internationally. That is partly why oil prices are so high, gold has gone from $250/oz to $650-odd/oz since 2001.

Greenspan and now Bernanke have been printing US$ like there's no tomorrow.

Inflationary policies are a big temptation with a fiat currency, and the US has a big deficit plus a billion-dollar-a-day project in Iraq.

The Dow is still hovering around 2001 levels but in real terms internationally (in terms of the fallen dollar) imagine it around the 6,000 level.

My Aussie dollar that only bought 50c US a few years ago now buys about 75c US.

That means I can buy heaps more for my dollar of either shares on the Dow/Nasdaq or US property etc.

And I can only see the US$ falling further: it makes sense to inflate with a big deficit and large military expense.

So economy not in the best of shape, and US$ losing buying power.

Posted by anon1 2006-04-28 11:51|| 2006-04-28 11:51|| Front Page Top

#14 Worse than Hoover?

Posted by Captain America 2006-04-28 12:02|| 2006-04-28 12:02|| Front Page Top

#15 I've worked in the engineering construction industry for 30 years. It never been this busy in my time.

I work at the HQ of a large retail chain. Last year was the best year in close to 20 years.

Posted by Robert Crawford">Robert Crawford 2006-04-28 13:19|| http://www.kloognome.com/]">[http://www.kloognome.com/] 2006-04-28 13:19|| Front Page Top

#16 "You really have to feel pity for them."

No, I don't, #10 Cyber Sarge.

Actions/choices have consequences.

I never pity self-made morons.

Posted by Barbara Skolaut"> Barbara Skolaut 2006-04-28 13:42|| http://ariellestjohndesigns.com/page/15bk1/Home_Page.html]">[http://ariellestjohndesigns.com/page/15bk1/Home_Page.html] 2006-04-28 13:42|| Front Page Top

#17 "And I can only see the US$ falling further: it makes sense to inflate with a big deficit and large military expense."

Which in turn makes US exports cheaper to acquire than many overseas competitors. You could almost say its a "wheels within wheels within wheels" kinda deal. You get the choice as of either having a high value dollar that gets you lots of stuff for your buck but not necessarily higher wages to buy more stuff, or temporarily inflation which in turn leads to higher wages, higher amounts of money circulating in the national economy (remember more money earned, less taxes usually results in more money retained to spend) and potentially higher amount of exports being sold because they cost less. Over long term this is not a good thing so the dollar will need to correct itself.

Posted by Valentine 2006-04-28 23:45|| 2006-04-28 23:45|| Front Page Top

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