Strong Economy? I call bullshit!

my2hands
my2hands Posts: 17,117
edited February 2007 in A Moving Train
Number of consecutive months that the American workforce has spent more than it's take-home pay: 20

Number of previous months since the Depression that this has happened: 0

(U.S. Bureau of Economic Analysis) (Harpers Magazine 03/07 pg. 13)


the day everyone undertsands that there is a difference between Main St. and Wall St. we will all be a little better off.

now go back to reading your stock quotes
Post edited by Unknown User on
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Comments

  • jlew24asu
    jlew24asu Posts: 10,118
    you obviously know nothing about economics. now go back to flippin your burgers
  • know1
    know1 Posts: 6,801
    Why would people spend more than their take home pay? That's just stupid.
    The only people we should try to get even with...
    ...are those who've helped us.

    Right 'round the corner could be bigger than ourselves.
  • Abuskedti
    Abuskedti Posts: 1,917
    my2hands wrote:
    Number of consecutive months that the American workforce has spent more than it's take-home pay: 20

    Number of previous months since the Depression that this has happened: 0

    (U.S. Bureau of Economic Analysis) (Harpers Magazine 03/07 pg. 13)


    the day everyone undertsands that there is a difference between Main St. and Wall St. we will all be a little better off.

    now go back to reading your stock quotes

    they will come closer soon.. its time to take your money and run - the thieves are due to collect....
  • hippiemom
    hippiemom Posts: 3,326
    know1 wrote:
    Why would people spend more than their take home pay? That's just stupid.
    People do stupid things all the time. Some people, it's pretty much ALL they do.
    "Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity." ~ MLK, 1963
  • farfromglorified
    farfromglorified Posts: 5,700
    my2hands wrote:
    Number of consecutive months that the American workforce has spent more than it's take-home pay: 20

    Number of previous months since the Depression that this has happened: 0

    (U.S. Bureau of Economic Analysis) (Harpers Magazine 03/07 pg. 13)


    the day everyone undertsands that there is a difference between Main St. and Wall St. we will all be a little better off.

    now go back to reading your stock quotes

    Hehe...what the hell?
  • he still stands
    he still stands Posts: 2,835
    jlew24asu wrote:
    you obviously know nothing about economics. now go back to flippin your burgers

    care to elaborate?

    I think that this is a very important issue. Pretty much everyone I know spends more than they bring in and are piling up credit card debt. THIS ALONE isn't a major concern for our economy. But what if a lot of these people lose their job? Our economy is walking on eggshells at the moment, all it would take is another 9/11 type event (which I think is pretty likely in the next 5 years) to completely unnerve the job market and the economy... then what is going to happen to the millions who live paycheck to paycheck and have $10K to $30K and above in current debt?
    Everything not forbidden is compulsory and eveything not compulsory is forbidden. You are free... free to do what the government says you can do.
  • fanch75
    fanch75 Posts: 3,734
    know1 wrote:
    Why would people spend more than their take home pay? That's just stupid.

    LOL!

    That's what I'm screaming. Generally, this has more to do with people being DUMB with their money than economics. There are folks with sudden catastrophic bills, but overall, people are takign vacations, buying THINGS (like 10 Pearl Jam tickets in one tour) that they can't afford and are funding with credit card debt.

    My parents were poor (we lived in the ghetto area of Louisville) the first few years I was alive. They just didn't spend more than they made. They made more later and spent more later. It's not rocket science.
    Do you remember Rock & Roll Radio?
  • cornnifer
    cornnifer Posts: 2,130
    know1 wrote:
    Why would people spend more than their take home pay? That's just stupid.

    Because things like food, clothes, shelter, etc. cost money. Because, i'm guessing, homelessness pretty much sucks.
    Do some people live foolishly beyond their means? Absolutely. But for many, spending a little more than they actually make is simply unavoidable.
    "When all your friends and sedatives mean well but make it worse... better find yourself a place to level out."
  • fanch75
    fanch75 Posts: 3,734
    he still stands wrote:
    care to elaborate?

    I think that this is a very important issue. Pretty much everyone I know spends more than they bring in and are piling up credit card debt. THIS ALONE isn't a major concern for our economy. But what if a lot of these people lose their job? Our economy is walking on eggshells at the moment, all it would take is another 9/11 type event (which I think is pretty likely in the next 5 years) to completely unnerve the job market and the economy... then what is going to happen to the millions who live paycheck to paycheck and have $10K to $30K and above in current debt?

    Because they are being STUPID with their money. Generally-speaking.

    ps - the Crue's "Looks That Kill" is on WEBN. Awesome.
    Do you remember Rock & Roll Radio?
  • NCfan
    NCfan Posts: 945
    know1 wrote:
    Why would people spend more than their take home pay? That's just stupid.

    Becuase our culture makes people feel like they're worth only as much as they can show off.

    Go to the mall, go in a department store and check out the $130 jeans for 12 year old girls... 5th avenue has come to your local shopping center. It's disgracefull.
  • NCfan
    NCfan Posts: 945
    cornnifer wrote:
    Because things like food, clothes, shelter, etc. cost money. Because, i'm guessing, homelessness pretty much sucks.
    Do some people live foolishly beyond their means? Absolutely. But for many, spending a little more than they actually make is simply unavoidable.

    The poor people in our country are not the ones we should be worried about as far as having an impact on our economy if shit ever hits the fan.

    It's the masses of middle class American's who are sucked into keeping up with the Jone's by blowing out credit cards and refinancing their homes to provide a life-style they can't afford, yet they feel entitled to.
  • jlew24asu
    jlew24asu Posts: 10,118
    he still stands wrote:
    care to elaborate?

    I think that this is a very important issue. Pretty much everyone I know spends more than they bring in and are piling up credit card debt. THIS ALONE isn't a major concern for our economy. But what if a lot of these people lose their job? Our economy is walking on eggshells at the moment, all it would take is another 9/11 type event (which I think is pretty likely in the next 5 years) to completely unnerve the job market and the economy... then what is going to happen to the millions who live paycheck to paycheck and have $10K to $30K and above in current debt?

    people who live outside of their means has nothing to do with the strength/weakness of the economy
  • fanch75
    fanch75 Posts: 3,734
    NCfan wrote:
    The poor people in our country are not the ones we should be worried about as far as having an impact on our economy if shit ever hits the fan.

    It's the masses of middle class American's who are sucked into keeping up with the Jone's by blowing out credit cards and refinancing their homes to provide a life-style they can't afford, yet they feel entitled to.

    Can I have an AMEN?!?!?

    Preach on, brotha! Testify!
    Do you remember Rock & Roll Radio?
  • onelongsong
    onelongsong Posts: 3,517
    who's economy? when the government says the economy is up; that means the rich are getting richer. during times of war; the economy of those that have government defence contracts is booming. when gas prices are high; the economy of those who make high milege or alternative energy vehicles is booming.
    it depends on who's economy we're talking about.
  • onelongsong
    onelongsong Posts: 3,517
    NCfan wrote:
    The poor people in our country are not the ones we should be worried about as far as having an impact on our economy if shit ever hits the fan.

    It's the masses of middle class American's who are sucked into keeping up with the Jone's by blowing out credit cards and refinancing their homes to provide a life-style they can't afford, yet they feel entitled to.

    if the "shit hits the fan" as you put it; people will ignore their credit cards. this is seen now on a personal level like when someone gets sick; they stop paying credit cards and direct their money towards more important things.
  • know1
    know1 Posts: 6,801
    NCfan wrote:
    Becuase our culture makes people feel like they're worth only as much as they can show off.

    Go to the mall, go in a department store and check out the $130 jeans for 12 year old girls... 5th avenue has come to your local shopping center. It's disgracefull.

    Funny, but our culture didn't make me feel that way. I guess it's not really a culture issue then...
    The only people we should try to get even with...
    ...are those who've helped us.

    Right 'round the corner could be bigger than ourselves.
  • know1
    know1 Posts: 6,801
    cornnifer wrote:
    Because things like food, clothes, shelter, etc. cost money. Because, i'm guessing, homelessness pretty much sucks.
    Do some people live foolishly beyond their means? Absolutely. But for many, spending a little more than they actually make is simply unavoidable.


    My assumption is this overspending of income is across the economic spectrum and not just those teetering on the brink of homelessness.
    The only people we should try to get even with...
    ...are those who've helped us.

    Right 'round the corner could be bigger than ourselves.
  • he still stands
    he still stands Posts: 2,835
    jlew24asu wrote:
    people who live outside of their means has nothing to do with the strength/weakness of the economy

    right. I agree that it has no direct correlation with the well-being of the economy. In fact when people are spending more than they bring in it can only be interpreted asa GOOD thing from a national economic perspective. People are buying SHIT they don't need, but hey its good for all these corporations that took in record 4th quarter earnings last year.

    But it does have huge implications when the economy does head south. And there are lots of signs pointing that may happen. (I personally think it is unlikely, but very possible) What would happen to the millions who lose jobs and live paycheck to paycheck with a butt load of current debt?
    Everything not forbidden is compulsory and eveything not compulsory is forbidden. You are free... free to do what the government says you can do.
  • my2hands
    my2hands Posts: 17,117
    you guys are right... it is the american publics fault, the era of "keep up with the jones'" just began 20 months ago :rolleyes:

    it has nothing to do with the skyrocketing cost of housing, energy, health care, college tuition, etc... coupled with stagnant wages. :rolleyes:
  • my2hands
    my2hands Posts: 17,117
    jlew24asu wrote:
    you obviously know nothing about economics. now go back to flippin your burgers



    thanks for adding to the discussion, and sharing your vast ecominic knowledge with us. ;)

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