Economy

#1
lawgator1

lawgator1

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#1
Lost in all the hoopla about phone records and IRS questionnaires, some good news to report. 1) the stock market indices hit all time highs yesterday. 2) the deficit projections from the CBO have plummeted. For 2014, the annual deficit projection fell by a third. Same moving forward. In fact, it is projected to keep going down through 2019. We still need to come to terms on entitlements and long-term spending issues, but at least we are moving in the right direction.

Thoughts? Is it finally turning around?

I think overall it is. But we still have the structural problems caused by over commitment in entitlements and the effect of technology on the employment picture.
 
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#2
#2
1) the stock market indices hit all time highs yesterday.

Mr. Obama owes Mr. Ben Shalom Bernanke a nice steak dinner.
 
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#4
#4
lawgator1 said:
Lost in all the hoopla about phone records and IRS questionnaires, some good news to report. 1) the stock market indices hit all time highs yesterday. 2) the deficit projections from the CBO have plummeted. For 2014, the annual deficit projection fell by a third. Same moving forward. In fact, it is projected to keep going down through 2019. We still need to come to terms on entitlements and long-term spending issues, but at least we are moving in the right direction.

Thoughts? Is it finally turning around?

I think overall it is. But we still have the structural problems caused by over commitment in entitlements and the effect of technology on the employment picture.
Click to expand...

For every % the dollar drops in value, the market rises a %. Not a surprise. I know ground beef is about 20% more than it was a few years ago. Gas has been more than double what is was 5 years ago. Unemployment is as high as it has been since the depression (I doubt LG can do the math to figure that one out). Costs for medical care are sky rocketing due in large part to gubment regulation (once again, LG won't see that one either). I don't see the economy doing squat.
 
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#5
#5
Are the deficits down in comparison to Obama's first terms? Not surprised considering they were $1T plus. Oh, and we can't use the GDP ratio considering they changed how we calculate GDP.

...ok, off the hate train. Improvement is better than the alternative, but he raised the deficit bar pretty high.
 
#6
#6
lawgator1 said:
Lost in all the hoopla about phone records and IRS questionnaires, some good news to report. 1) the stock market indices hit all time highs yesterday. 2) the deficit projections from the CBO have plummeted. For 2014, the annual deficit projection fell by a third. Same moving forward. In fact, it is projected to keep going down through 2019. We still need to come to terms on entitlements and long-term spending issues, but at least we are moving in the right direction.

Thoughts? Is it finally turning around?

I think overall it is. But we still have the structural problems caused by over commitment in entitlements and the effect of technology on the employment picture.
Click to expand...

None of this news affects the middle class one bit. When the middle class starts being able to save and pay down debt with disposable income get at me.
 
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#7
#7
Market rally is in spite of economy not because of it.

So you are happy the rich are getting richer? You a republican now?
 
#8
#8
Results of the belt tightening, labor reduction and outsourcing over the past 3 years. Still lots of money sitting on the sidelines waiting for real opportunities.
 
#9
#9
Everything still sucks. All prices are still going up. I was out last night & gasoline prices are at $3.50 a gallon & summer is not even here yet. Gas at summer time will be over $4.00 a gallon & people will not be traveling anywhere to spend their vacations.
 
#10
#10
How about the student loan debt that is at an all time high? A huge percentage of people in their 20s are making their biggest payment each month paying off debt. It's a huge problem that nobody wants to talk about.
 
#11
#11
82_VOL_83 said:
For every % the dollar drops in value, the market rises a %. Not a surprise. I know ground beef is about 20% more than it was a few years ago. Gas has been more than double what is was 5 years ago. Unemployment is as high as it has been since the depression (I doubt LG can do the math to figure that one out). Costs for medical care are sky rocketing due in large part to gubment regulation (once again, LG won't see that one either). I don't see the economy doing squat.
Click to expand...


Well, gas had gone up before. We know that is a supply/demand problem, which is a combo of refinery capacity and global demand and competition.

I really don't see how you can argue that government regulation is causing health care prices to go up. They've been going up at double digit rates for over a decade.
 
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#15
#15
The reason why the deficit is down is because everyone hurried up and paid taxes in 2012 vs paying them in 2013/14.
 
#16
#16
lawgator1 said:
I really don't see how you can argue that government regulation is causing health care prices to go up. They've been going up at double digit rates for over a decade.
Click to expand...

very easily considering they put many of the barriers to a real market in place
 
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#17
#17
lawgator1 said:
Well, gas had gone up before. We know that is a supply/demand problem, which is a combo of refinery capacity and global demand and competition.

I really don't see how you can argue that government regulation is causing health care prices to go up. They've been going up at double digit rates for over a decade.
Click to expand...

Your boys at the EPA have made it too expensive to build new refineries in this country, ergo, no supply for the demand. And I don't see how you can argue that reg's don't make prices go up. Every government restriction that is placed on the industry is a cost driver. Look at your boys health care plan.......costs are going to be astronomical in the coming years.....all that is is regulation.
 
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#18
#18
Let's wait to see what the GDP (the real one, not the readjustment) looks like. Once we hit a year at above 3% growth I'll agree the economy is on the move. So long as we stay below 3% annual we are simply muddling along.
 
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#19
#19
I work in the construction industry, in a position to be able see new building across several different geographical markets as well as industrial markets, and there's nothing to indicate that the economy is coming back. It is status quo and stagnant at best. Private sector commercial building is almost non-existent.
 
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#20
#20
So, only taking credit for the good and sweeping the rest away with apologies and indignation. Nice.
 
#21
#21
Godfatha said:
I work in the construction industry, in a position to be able see new building across several different geographical markets as well as industrial markets, and there's nothing to indicate that the economy is coming back. It is status quo and stagnant at best. Private sector commercial building is almost non-existent.
Click to expand...

:) Thanks for making our day with this updated info.
 
#22
#22
Godfatha said:
I work in the construction industry, in a position to be able see new building across several different geographical markets as well as industrial markets, and there's nothing to indicate that the economy is coming back. It is status quo and stagnant at best. Private sector commercial building is almost non-existent.
Click to expand...

Around Nashville it appears to be picking up some.
 
#24
#24
Godfatha said:
Believe me, I wish it was different. It directly affects my income.
Click to expand...

I wish you all the best in your line of work. They build things around here in Jackson it seems a lot & just in a couple of years the tenants move out leaving nothing but an empty shell of a once nice business that was making money for employees & putting food on the tables & putting so much back into the community. Now when you drive by there's nothing but weeds standing in the parking lot.
 
#25
#25
construction is picking up. Not at the level where it is needed or where people want it to be yet but it is picking up. Most are just being very cautious right now
 
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