Fundamentally strong? Do you agree?
By Rachel85044
@Rachel85044 (426)
United States
September 16, 2008 2:53pm CST
Ok, No matter what your political views, do you believe that the US Economy is strong? Ok, I say no for several reasons one being that income has not gone up since 2001 but the cost of living has (not a good thing) and I am talking important things cost of food, gas, health care, energy, housing, ect! to me that is the bottom line but theres more
Partly due to the bush administration not regulating the lending market. Lenders like sharks prayed on low interest rates and offered risky loans, financing them by borrowing overseas! As a result many are in debt, and we are now faced with a housing crisis like non we have ever seen!
Ok, are you ready for the icing on the cake, the federal reserve charman is offering private economic forecast his exact words are "the first 6 months are going to be bad" Bad! Bad! Its not bad enough its going to get worse!
With that being said does it not bother you that McCain feels the The US economy "Is fundamentally strong" and "the issue of economics is not something I've understood as well as I should" but he assures us he has Greenspan's books! WTF!
Ok, even if you plan to vote for him tell me why those statements don't scare the crap out of you. That the man that could possibly run our country is that out of touch with the economy?
Please explain to me like I am a child?
8 people like this
13 responses
@spalladino (17891)
• United States
16 Sep 08
Hi Rachel. I don't know if John McCain was just trying to reassuring or if he really is out of touch but, no, I don't believe our economy is fundamentally strong. According to the statistics people spent money last quarter (or whatever time frame it was) but that was due to those economic stimulus checks coming out. I don't think we're in deep trouble yet but this economy IS in trouble.
@zydecokitten (451)
• United States
17 Sep 08
McCain is not strong in Economy, he has said so himself. I think he pretty much proved it when he FLIP FLOPPED today by starting out saying the economy was in good shape and then changing his position to the polar opposit within three hours. But, it is no surprise, he has no original thought in his head at all. He has even stolen the Democrat mantra of "change" which he originally mocked. What a guy!
2 people like this
@Rachel85044 (426)
• United States
16 Sep 08
I agree now that the checks are spent I think we are going to see problems. Especially during the first of the year. Unless Bush wants to keep supplementing our incomes with these checks we in trouble. Especially when Christmas sales are expected to be at a record low!
2 people like this
@rodney850 (2145)
• United States
16 Sep 08
Rachel,
Let me pose a question to you. If the economy is not fundamentally strong, why would you propose to EXACERBATE the situation by EXHORBANTLY taxing the people who, create jobs, provide the brunt of the tax dollars anyway and in general do more than their part to support the country? The idea that the rich are inherently the problem because they make so much money is luducrous! This is Mr. Obama's plan for our "depressed" economy, one that to even a layman(not an economist)like me is absolute lunacy!
3 people like this
@Rachel85044 (426)
• United States
16 Sep 08
ok, rodney but the Bush administration has been doing just that and has it helped? Honestly are the wealthy helping? Also I know alot of wealthy people who are starting to hurt (My parents and grandparents being one) and they are considered the top 5 percent! You know what they are doing right now SAVING! They hate the fact I am a Democrat but I know that the middle class is the answer you must fix the middle class they are without a doudt the back bone of our economy and there hurting!!
For the life of me I don't understand why people would even consider voting for McCain unless they were in the top 5 percent because he is not the man that will help you! I know all the relgious stuff, abortion, gay rights blah blah. Well guess what Roe vrs Way will never be overturned it wont. I hate the idea of abortions have never had one but I know its not my right to inpose my belief on others and so does the supreme court. So these are not things a president can change for you and voting for something simply because you like the moral and relgious view is silly! Has Bush overturned Roe Vrs Way? Nop and neither will McCain!Now in closing Clinton Helped our economy by following a plan similar to MR. Obams's and I believe if something worked once why the heck not try it again. Why continue a broken path that Bush has paved out?
Honestly I am not trying to insult you I just want to understand the reasoning behind it.
2 people like this
@Rachel85044 (426)
• United States
17 Sep 08
No, Historicaly Democrats help the middle class.
3 people like this
@sizzle3000 (3036)
• United States
16 Sep 08
I am not really into politics because I feel that they are all crooks no matter who you vote for they are going to do just what they want not what you want. Politicians only come out during an election and they spend millions of dollars to tell the public just what they want to hear. Once the elections are over you will never hear from these polititions again.
I don't feel that this economy is any one persons fault. It is many peoples fault. In the first place I live in Maryland and we have a governor who thinks the people who live in Maryland are rich. He has increased every tax he possibly could. So you see what the Federal Government has not raised the state government has. Maryland is a great state but you can not afford to live there.
It is terrible but the truth is the rich get richer the poor get poorer and it is easy to blame everone else for the problems. Maybe when people refinanced their homes they should have thought more about what was going to happen when the rates went up. Well like I said not big into politics and I did refinance but not to the max of what I could have made the loan for and I made sure I had a fixed rate.
2 people like this
@Taskr36 (13963)
• United States
16 Sep 08
The rich get richer because they know how to manage their money. They have a solid savings in case of emergencies and have retirement funds to rest on when they're done working.
The poor get poorer because they make little attempts to better themselves and don't know how to save or invest. Complaining about minimum wage when you're 40 and working at Walmart just isn't going to get a lot of sympathy from me. There are a lot of choices that one makes that lead them to a minimum wage career at that age.
2 people like this
@Rachel85044 (426)
• United States
17 Sep 08
Wow, I come from a very wealthy family and I have more empathy for the people that spend there lives on welfare and barely making ends meet! Sometimes its hard to rise above what you have been exposed to. Thats why its important that we have a strong educational system, and we make college affordable something Obama wants to do! Its important that we stay competitive in the global market and not helping those at the bottom is not going to help us do that. Have you ever heard the saying you are only as strong as your weakest link! Also those low income families supply or miltary with young men and woman! A large percentage come from low income homes and choose the military as a way to get ahead and afford college!
Compassion!
Rachel
2 people like this
@Taskr36 (13963)
• United States
17 Sep 08
Well those people who choose the military for educational purposes are making an attempt to better themselves. The people in their 40s making minimum wage are not. Even if you are poor you can get a scholarship or take out student loans to get through college. The opportunities are there for people willing to take advantage of them.
1 person likes this
@suspenseful (40192)
• Canada
17 Sep 08
If I were an American, I would not vote for Obama. I do not want to have women who cannot have children go through what we went through, some being unable to adopt, some seeing women abort their babies, and now Obama wants to make same gender marriage the rule and will not allow babies who survive abortions to live?
You cannot blame the president on the state of the economy. Sometimes the economy is bad because it started to go bad in the previous administration and so the present administration tries to improve it. The fault lies in the people who borrowed beyond their means, and bought houses they could not afford. It was the same in the Depression. People bought stock when they should not have and then it blew. Also the weather was against them.
I wonder is the weather only bad when they have a Republican president? Seems like it.
Then they also got rid of the gold standard and when you do the money is not worth as much. If they restore the gold standard and ensure that loans only go to those who are able to pay, the economy will recover.
However I do wish that John Paul would have been a candidate.
I think that John McCain is using physiology, that if one believes the economy is strong even if it is not, one will take steps to improve it. And run will not run to the bank and take out their money and make things worse.
2 people like this
@Rachel85044 (426)
• United States
20 Sep 08
hmm, well i think republicans have been bad for the economy. Also I believe that the administration has alot to do with the economic crisis for many many reason. Second I think McCain is not thinking that he is playing mental games with us. I think he is just out of touch with americans. But I will vote for Obama because he is the better canidate without question. I think if you put aside the abortion issue you would probably say the same thing and considering that abortion will never be banned you probably should!
@Taskr36 (13963)
• United States
16 Sep 08
Sorry, but I'll take McCain's optimism over the doom and gloom of "Our economy is ruined and can never be fixed!" Yes our economy is in a slump right now. Gas prices are still too high and cost of living is higher than it used to be. McCain said the economy is still fundamentally strong because we still have a solid framework, qualified workers, valuable businesses, and a strong education system. Housing costs have been coming down over the last 2 years to the degree that I'm actually buying a house now. It's not the government's fault if too many morons bought properties they couldn't afford. My soon to be former landlord bought a condo for $325,000 that she is currently selling for $185,000. I'm not kidding. She was foolish, bought at the worst time possible, and couldn't charge enough rent to cover the mortgage payments. It's morons like her, and the banks who loan to them that damage our economy.
I would just love for people to take some responsibility for their own actions and their station in life instead of blaming the government and getting angry when someone like McCain shows confidence in the strength of our people to recover.
2 people like this
@thegreatdebater (7316)
• United States
16 Sep 08
Taskr, you are 100% correct that we need personal responsibility in this situation. There are three men that have taken absolutely NO repsonsibility in this matter: John McCain, Phil Gramm, and George W. Bush. Phil Gramm was the one that took all of that money from the banking and investment industry to push a bill through the senate in May of 1999. But, Phil couldn't do it himself, he need other senators that would be easily influence to help pass this bill. Enter John McCain, one of Gramm's best friends in politics, and to this day has totally ignored the fact that he voted yes on the bill that was the number one cause of this mess. And then there is George W. Bush: Has anyone seen George W. Bush? He has been totally asleep at the wheel for the last two year, well I guess you could say he as been this way throughout his presidency. Bush't treasury appointees have been a joke, none of them were ready for the job, and as funny as it is all of them had golden parachutes (just like the rest of us Americans do). I wish that anyone of these three would stand up and take responsibility for this mess we are in, but they are republicans, and that is something that republicans don't do. The party of personaly responsibility, is never personally responsibility for anything.
3 people like this
@Rachel85044 (426)
• United States
16 Sep 08
Its not doom and gloom they are facts and you can't fix a problem if you don't realize there is one. I mean can a alcholic get help if he or she doesn't realize that there is one. The economy is sick and it needs medicine not more of the same!
Regarding the Home market, yeah I saw that coming to and did not go along with the masses. Also there was similar issue with the housing market in England years ago and the results were similar. But there is a reason why the banks are suppose to be regulated! Not to mention alot of people don't read the fine print they should but they don't! Regarding the responsibilty part I think they are losing everything can't be fun!
3 people like this
@Rachel85044 (426)
• United States
16 Sep 08
oh and obama didn't say it, it is the Federal Reserve Chairman!
3 people like this
@ZephyrSun (7381)
• United States
16 Sep 08
Sorry Rachel I'm not voting for McCain but I didn't know that about Greenspan's book part because Greenspan came out yesterday and said that McCain's plan for the tax cuts aren't going to work.
3 people like this
@ZephyrSun (7381)
• United States
16 Sep 08
LOL I don't think he will convince anyone but the sheep.
3 people like this
@Rachel85044 (426)
• United States
16 Sep 08
He was addressing some voters and he made the statement he was not familiar with economics but he had the Greenspan Magazine. He was trying to reassure people he could figure it out!
2 people like this
@Rachel85044 (426)
• United States
16 Sep 08
I think he could convince some of those die hard to believe in the Easter bunny if he really wanted to. Especially if Palin delieverd it, she has already convienced many that carbon dating is inaccurate !
1 person likes this
@rogue13xmen13 (14402)
• United States
17 Sep 08
No way! Our economy is very weak. If our economy were so strong, why did three major lending companies go under, only to be bailed out by the government? Our economy is in really bad shape.
@rogue13xmen13 (14402)
• United States
19 Sep 08
True, it survived the depression, but can it really survive what is to come?
1 person likes this
@Rachel85044 (426)
• United States
19 Sep 08
One that has been around since the civil war! Think about it, it survived the depression but this crisis was too much for it.
Scary!
1 person likes this
@Rachel85044 (426)
• United States
20 Sep 08
Thats what I told my husband how bad is the economy really when a company the weathered the depression (and the depression is consider the worst economic period in history) but folds in these times! To me that says we are in some deep trouble!
@irisheyes (4370)
• United States
17 Sep 08
Nothing can be fundamentally sound while the deficit (from GWB's oil war) is in the trillons. Until that is brought under control, the economy will not be sound any more than a family budget can be sound with hundreds of thousands of dollars worth of credit card debt.
The time honored way to lower a deficit is to spend less and/or to increase taxes. The Republicans get the part about spending less for all programs benefiting the American people but they don't get the part about raising taxes. Somebody told them once that they could win any election as long as they promised to decrease taxes regardless of the deficit they run up.
2 people like this
@xParanoiax (6987)
• United States
17 Sep 08
No. The "fundamentals" the...baseline for our entire economy is crumbling, how people live is pushing near less and less likely to survive all this, so how the f*ck, can they be strong? (Excuse my french).
I'm not sure how someone who doesn't know anything about the economy can say crap like this. Well, he has vocal cords...but you get what I mean.
The problem's been of: regulation where there shouldn't have been any and no regulation where there should've been regulation.
Even freaking GREENSPAN is going, "once in a century crisis"...and if that ancient economy icon says things are horrible, you better bet you butt that it's horrible.
I think Jon Stewart on the Daily Show this evening got it right exactly: "So things are between the apocalypse and something you'd have done at your chiropractor, go forth America! Plan your financial future!"
1 person likes this
@xParanoiax (6987)
• United States
20 Sep 08
For me this is just one of the reasons why I think it's amazing, but I try not to talk to them about this. They don't want to listen, I don't think =(
My Dad thinks they want to be lied to, but I don't know. "Tell us everything is alright."
"SURE!"
1 person likes this
@Rachel85044 (426)
• United States
19 Sep 08
I think its even scarier that people are still considering voting for him! Its like isn't the fact he has no idea whats going with the economy, supposebly the most important issue facing voters not to vote for him. Its so stupid that they still are considering it, I just can't for the life of me understand why!
@mehale (2200)
• United States
18 Sep 08
I do agree that our economy is not strong, and in fact is on the verge of failing if the politicians in Washington do not wake up and pay attention soon. Though I am not entirely convinced that either candidate is the solution to the problems we find ourselves in. It took a long time to get into these troubles and it will take even longer to get out of them. I really wish we had better choices this go round.
1 person likes this
@annjilena (5618)
• United States
17 Sep 08
you haven,t notice our economy is weak do to a lot of reason we have so many people out of work and homeless
2 people like this
@checapricorn (16061)
• United States
17 Sep 08
[i]Hi Rachel,
I am not a Citizen here but I also feel the bad economy of this Country! I had friends who need to work 2 jobs to sustain and to survive from all the bill and provide comfort for their family and some also are losing their jobs as well as home!
That is a dream if the leaders will not accept the fact about the present condition of USA..maybe they are just day dreaming! And for sure, it is hard for them to feel it even if they sympathize people because they are not experiencing the same situation..They have everything that they need and they can get whatever they want!
Maybe when they will try to live in a house of a poor family, that is the time they will open up their mind 101% about the crisis that is going on!
ANyway, I hope that this is temporary and by all means, people will survive and recover![/i]
2 people like this
@kyellis (105)
• United States
17 Sep 08
Yes, it does scare the crap out of me, especially because Bush also says that our economy is strong. These two guys are in outerspace someplace. They haven't a clue about real life with the rest of us down here on earth. McCain says he's for change. Now he has Palin saying it too. They've made it their motto, because it has been what Obama has been saying. They are jumping on the ban wagon.
You are right, I think my husband is actually making less money than he did last year. All the prices go up, but he hasn't had a raise in many years. Life gets tighter and tighter.
Now tell me we have a strong economy when both Merill Lynch and Lehman just crashed. These were "rock solid" investment firms. And what about the war that we have been borrowing uncountable amounts of money for. That will have to be paid back to China someday somehow. Who do you think is going to pay - middle class American, if McCain has anything to say about it.
Live is very scary right now. Who knows where we are all going to end up. I feel like we are all falling down the rabbit hole in Alice and Wonderland. Well, at least the democrats are. The republicans only look out for themselves (those that are rich enough to not remember how many houses they have - McCain)
@Rachel85044 (426)
• United States
17 Sep 08
You know the thing that always bothered my about many republicans is economicly they are voting for the wrong party. I mean unless you are the top 5% you are hurting yourself by voting for McCain. Honestly animals have better survival instincts then some republicans do. All they care about is Gay right and abortion.
Well guess what no president is going to be able to overturn Roe vrs Way its not going to happen! Its not the supreme court will not let it! Also eventually gays will have the right to either marry or enter into a civil union its just a matter of time. Just like the end of segragation! Someday our kids are going to look back and be ashamed we used these things in a political forum!
The only thing people should be worried about is the economy, health care, and education. Those are the issues that matter! Nothing else that has anything to do with personal choice, relgion!
Wow I can go on and on
lol
Hugs
Rachel
1 person likes this