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What happened to all of the doom and gloom economic threads?

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4est_4est_Gump said:
You're doing fine.

Me? Not so much...

If I send it, they'll just attax it.

:(
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Your CnP on DC that I skimmed was pretty true. Here and in the 'burbs, we never really had a recession. Housing prices dropped about 10%, but are back to normal; unemployment went to 6.5%, but is about 5% now; and, from my cheap seat at the Nationals game the other evening, I counted 17 tower cranes on the skyline.

Let them eat cake!
 
Income inequality appears to be growing in the United States. And while President Obama didn’t initiate the trend, his health care legislation will dramatically exacerbate it.

While Obama, along with most Democrats, the Occupy Wall Street hooligans, and many in the mainstream media, claim that taxing the rich will fix the income inequality problem, a closer look reveals that the trend is likely overstated, and, when total compensation is considered, may not be happening at all.
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It's okay.

Lying rw source...

;) ;)

http://www.forbes.com/sites/merrillmatthews/2012/06/22/how-obamacare-increases-income-inequality/
 
JohnnySavage said:
Your CnP on DC that I skimmed was pretty true. Here and in the 'burbs, we never really had a recession. Housing prices dropped about 10%, but are back to normal; unemployment went to 6.5%, but is about 5% now; and, from my cheap seat at the Nationals game the other evening, I counted 17 tower cranes on the skyline.

Let them eat cake!
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We never really had much of a recession either, but the gub'mint did flood us to save Sodom and Cairo...

;) ;)

My bud went straight from the Corps to DC upon retirement.
 
4est_4est_Gump said:
We never really had much of a recession either, but the gub'mint did flood us to save Sodom and Cairo...

;) ;)

My bud went straight from the Corps to DC upon retirement.
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We even built a 'day laborer center" so the illegals don't have to stand in the heat this summer!

Life is beautiful.
 
This is the kind of thing that panics markets so let's hope it's nothing more than intelligent speculation.

New York Times:
As the Chinese economy continues to sputter, prominent corporate executives in China and Western economists say there is evidence that local and provincial officials are falsifying economic statistics to disguise the true depth of the troubles.

Record-setting mountains of excess coal have accumulated at the country's biggest storage areas because power plants are burning less coal in the face of tumbling electricity demand. But local and provincial government officials have forced plant managers not to report to Beijing the full extent of the slowdown, power sector executives said.

Electricity production and consumption have been considered a telltale sign of a wide variety of economic activity. They are widely viewed by foreign investors and even some Chinese officials as the gold standard for measuring what is really happening in the country's economy, because the gathering and reporting of data in China is not considered as reliable as it is in many countries.

Indeed, officials in some cities and provinces are also overstating economic output, corporate revenue, corporate profits and tax receipts, the corporate executives and economists said. The officials do so by urging businesses to keep separate sets of books, showing improving business results and tax payments that do not exist.

The executives and economists roughly estimated that the effect of the inaccurate statistics was to falsely inflate a variety of economic indicators by 1 or 2 percentage points. That may be enough to make very bad economic news look merely bad. The executives and economists requested anonymity for fear of jeopardizing their relationship with the Chinese authorities, on whom they depend for data and business deals.
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Read more: http://www.americanthinker.com/blog...ide_true_depth_of_downturn.html#ixzz1yiBax31r
 
For generations after World War II, both parties agreed implicitly upon a great American share-out: The fantastic growth of the American economy gave politicians in both parties the enviable task of deciding how the annual surplus would be divided, meaning that everybody could be a winner. Republicans could cut taxes and dabble in generous social-welfare benefits; Democrats could distribute generous social-welfare benefits and dabble in tax cuts; both parties could push for an overpowering military; and all the while the annual budget deficit stayed more or less within a tolerable range. It was a true win-win, with political disagreements largely fought over which side would win more.

***

In our time, however, this balance has been upset not only by the severity of the most recent recession, but also by the weakness of the recoveries that have followed the downturns of the past decade. Evidence would suggest that the great American growth machine is sputtering, with forecasts auguring middling growth next year (around 2%), essentially continuing the unimpressive trend of the past decade. And this economic torpor strikes at the worst possible moment: The Baby Boomers — an outsized generation that came about because of the post-war era’s unparalleled prosperity — are now starting to collect on the generous promises that politicians made when they were just children.

The days when lawmakers could give to some Americans without shortchanging others are over; the politics of deciding who loses what, and when and how, is upon us. Neither party yet fully understands the implications of this shift, which means both parties risk being caught unprepared when the economic slowdown forces profound changes in American politics. The great American share-out is coming to an end — and, with it, the rules and norms of our politics that several generations have taken for granted.

[T]here’s a key difference between the parties. The Democrats tend to be more traditionally coalitional: If everyone sticks together, everyone gets paid. In the age of austerity, however, zero-sum politics become more of the norm. When one constituency’s victory is another’s loss, the payoff for solidarity diminishes.
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http://www.nationalaffairs.com/publications/detail/the-politics-of-loss
 
In suburban America, middle class begins to confront poverty

"It's this dirty little secret,” said Joyce Welch, a stay-at-home mother of three whose husband, a mechanical engineer, lost his job six months ago. “Everybody is supposed to be able to buy the new car, supposed to buy the new house. And what we don't talk about is people who struggle, and they're struggling more and more."

http://insidedateline.msnbc.msn.com...-middle-class-begins-to-confront-poverty?lite
 
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