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American Economy

  • I feel secure in my job & my wife does in hers

    Votes: 31 50.8%
  • We both work but one of our jobs may be shaky

    Votes: 5 8.2%
  • The part of the economy I work in is not slowing down

    Votes: 20 32.8%
  • The part of the economy I work in is seeing a slowdown

    Votes: 10 16.4%
  • I have friends/relatives that have lost jobs

    Votes: 9 14.8%
  • I lost my job and/or my wife lost hers

    Votes: 2 3.3%
  • The government is to blame for America's economic losses

    Votes: 19 31.1%
  • The free trade agreement has hurt America's workers

    Votes: 27 44.3%
  • Corporate greed & over paid executives get a big blame

    Votes: 25 41.0%
  • Our family has started cutting back on some spending

    Votes: 29 47.5%

  • Total voters
    61
  • Poll closed .
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Discussion Starter #1
This poll is associated with the post about economy downturn made a short while ago.
 

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Select Member<br>2010-11 Deer Hunting Contest Winn
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A bunch of options left off the poll:

I am secure in my job, wife is homemaker taking care of our children.

I am secure in my job, but my wife may have to get a job to make ends meet.

Because of concern for my job, my wife is looking for employement

We live beyond our means, so both of us have to work, possible two jobs to pay our insane debt because we just HAVE To compete with the "Joneses".

Consumers who stupidly over-bought hyper-inflated property that was really beyond their means using variable rate mortgages are partially to blame for the economic problems.

The Fed is partially to blame because of out of control debt (which mirrors the idiotic amount of consumer debt).

The Fed is partially to blame for having expanded so far beyond the limits and responsibilities set forth in the US Constitution.

Liberals who cannot help but give massive social handouts to keep themselves in power share the blame for the eocnomy.

Lenders who pushed ARM loans to consumers, encouraging them to over-mortgage themselves share the blame for the economy.

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You see - there are a lot of factors that go into an economic downturn or even recession. The US Economy is powered by air. Instead of consumers buying with cash (the old fashioned method where people save until they have enough to actually buy something), they have turned to easy credit. The easy credit (not real money) has fueled the last decade of super growth. But as consumer (and matching government debt) has increased to the point of drowning, you have two choices - burry yourself even deeper in debt (which now becomes bad debt and eventually bankruptcy), or you say enough is enough, and take an economic hit to the overall economy as we play catchup to the massive debt.

Our government now is so far in debt, that with ZERO growth in that debt (which will NEVER happen), there is no hope that even our grand and great grandchildren will pay it off. Just how many generations do we plan to burden with our current debt? I cringe at the thought of signing a 30 yr. conventional morgage - but at least that can be liquidated if I haven't borrowed over the value. But the Federal Government's debt load is currently a century's worth of payments - and that doesn't include the additional debt being taken on daily.

And consumers have followed suit - With credit cards that will take many years to pay off if you cut them up NOW (which most consumers won't do) - they saddle themselves with lifelong debt (particularly revolving - the most dangerous of all). Then they add a mortgage for a home they really cannot come close to affording (often getting an ARM loan that gets them into even MORE house for lower payments - temporarily). Husband and Wife then must work their tails off to make their payments and keep their heads above the debt - which they continue to add to.

Then folks get a tiny bit of equity and take a loan out on it to "pay off some credit cards". They then do pay at least a chunk of the credit card balance off, but continue to use those credit accounts - thus further adding to the debt.

Something has to give - An economy fed by easy credit finally runs out of steam when nearly every consumer (including the Federal Government) has reached the end of their money. When you can no longer make your payments - getting more credit is not the answer - because that makes the problem worse.

While no-one wants to see the economy collapse, that is EXACTLY what is going to happen. There is no escape.

And as a capper - to try to feed the spending, the Fed prints additional dollars to put into circulation - which brings the value of said dollars down. So now, our dollars buy less - so we have to spend more for the same goods (which of course feeds the debt).

All this easy money results in a phantom tax due to the reduced buying power of the dollar.

$100 per barrel for oil is lucky. If our dollars were worth just what they were 15 years ago, oil in the exact same markets would be less than $60 per barrel.

And I didn't even address the massive outflow of cash to other countries due to immigrants (most especially, but not only, those here illegally) who send billions of dollars back "home", while using public services with little cost to them.

So there are lots of areas to blame. We as consumers, citizens, and voters should bear the biggest part of the blame. We have spent ourselves into insane debt, have voted for politicians who do the same with OUR tax dollars, and we continue to vote for those who promise us more "easy money" and "economic stimulous" packages. I've got a big question for you - where are those $600 per taxpayer checks coming from? The taxes we already paid. But guess what - government spending will not decrease. In fact, this will push Federal spending up by BILLIONS of dollars.

Governments and Consumers must learn to live/spend within their means. Future generations count on some sense of responsibility. Our children are being raised by day care and public schools, then we wonder why they so often are screwed up and continue in our footsteps and beyond. Its ok - we just set the example that money and spending beyond our means is FAR more important than the security of a stable family with parents who are THERE and who CARE enough to spend REAL time with the children. Parents who set an example of what responsibility is as well as what being a parent means.
 

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Discussion Starter #3
You're right about living within our means. The people will but the govt never will. They have a carte blanche with our tax money. They don't have to be accountable. By the time a rotten politician is voted out they have already milked fortunes from the system.

You can't have enough poll options to suit every conceivable option.

As always, the people carry the load.
 

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Funny the poll seems to suggest most feel they are doing well But are worried about everyone else... and blame the Businesses that make the Economies Jobs for the problem...
The only thing different now than a Yr ago is Housing which is effecting everything .. And that Busted because of contractors over building... because people were buying homes THEY couldnt and cant afford...IMHO..

I'm a Service Tech so it really doesnt effect me much ..it does our installers tho...

I've seen it coming in our area for awhile BIG BIG HOUSES ..plus all these floating loans based on low intrest rates was a recipe for disaster the minute the intrest rate started rising...
 

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I'm in the natural gas industry so as far as loosing a job I do not think it is in the forseeable future.
I do remember the enconomic turn down of the seventies and how my Grandmother and Grandfather talked about it. Also the energy crunch.
I do believe the free trade agreement has certianly hurt us and will continue to undermind our economy as long as we the people will permit it.
Corporate greed is a another area I wonder if the ceo's of this country could live like the ceo's of say Japan where the ceo gets fifty percent more than the workers and that is it. Not the several hundreds od thousands not counting all the stock options.
Another problem we have is the goverment wanting to take care of a lot of dead beats. Grant you welfare has a purpose but it should be just to help out and get a person back on their feet and not as paycheck as 75% use it.
Well that is my:twocents: DW
 

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Select Member<br>2009 Photo Contest Winner<br>2015
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In my line of work it is going all out. There is a huge shortage of qualified pilots on the waterways and that has force our wages up close to 30% over the last 3 years. :biggrin: Also the lifestyle it takes to live 24/7 for 4 weeks straight on the job is not for everybody.The high price of diesel has move some business to waterways that would use trucks or railroads, since we can move much larger volumes for a whole lot less fuel and more safely.
There has been a big boom in building new riverboat and barges, partly due to the fact there hasn't been any real replacement of equipment on this scale for many years. A large percentage of equip. i.e. ,boats and barges got a lot of age and are going past their originally predicted lifetime.
I seen reports where there is going to be aplace I think near Fort Smith that is suppose to start building barges. All current shipyards are working at full capacity trying to meet the demand.
 

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It's all linked to 9/11 and the war in my eyes. If gas were $1.50 a gallon the whole thing would be different now. Fuel prices have affected everything from the milk to plane tickets and everything in between.

Whatever happened to Iraqi oil funding the war? If we were doing that we wouldn't be in this mess. (well, except for the credit card thing, but most of us crapped in our own bed on that one.):smack:
 

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I'm in the natural gas industry so as far as loosing a job I do not think it is in the forseeable future.
I do remember the enconomic turn down of the seventies and how my Grandmother and Grandfather talked about it. Also the energy crunch.
I do believe the free trade agreement has certianly hurt us and will continue to undermind our economy as long as we the people will permit it.
Corporate greed is a another area I wonder if the ceo's of this country could live like the ceo's of say Japan where the ceo gets fifty percent more than the workers and that is it. Not the several hundreds od thousands not counting all the stock options.
Another problem we have is the goverment wanting to take care of a lot of dead beats. Grant you welfare has a purpose but it should be just to help out and get a person back on their feet and not as paycheck as 75% use it.
Well that is my:twocents: DW

X2! :twothumbs
 
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