This Is Not A Democracy, It's A Republic........
Good morning, Jenn. I saw this in today's NT Times. Thought I'd let it tell you what I was trying to say the other day about the economy.
Sales of New Homes Stay Strong in October, Setting Record
By VIKAS BAJAJ
Gasoline is cheaper than it was before Hurricane Katrina slammed into New Orleans. Consumer confidence jumped last month and new home sales hit a record. The stock market has been rising. Even the nation's beleaguered factories appear to be headed for a happy holiday season.
By most measures, the economy appears to be doing just fine. No, scratch that, it appears to be booming.
But as always with the United States economy, it is not quite that simple.
Consumer confidence is bouncing back from what was arguably some of its worst readings in years. Gasoline prices-the national average is now $2.15, according to the Energy Information Administration- have fallen because higher prices tamped down demand and supplies in the Gulf Coast have been slowly restored. The latest read on home sales, released today, contradicts virtually every other recent measure of housing activity that generally indicate a slowdown. And yes, manufacturers' fortunes are on the mend, but few besides airplane makers are celebrating.
It all means that the economy is likely to end the year with a splash, but that does not mean the broad economic picture next year will be even better. Indeed, the Organization of Economic Co-operation and Development said today that the United States economy is likely to be a repeat of 2005. The O.E.C.D. projected that 2005 growth will settle at 3.6 percent, down from 4.2 percent in 2004. The O.E.C.D. also forecast 2006 growth at 3.5 percent, but other economists think that may be too optimistic.
Now investors, whose stock-buying had been fueling an end-of-year rally, fear that the latest positive figures will lead the Federal Reserve to take the punchbowl away by raising interest rates more than most analysts expected just a few weeks ago. In turn, that could further slow the housing market, dampen consumer spending and crimp corporate profits. "The two major concerns are the extent of slowdown in housing and how it can feed into growth and consumer spending," said Joshua Shapiro, chief United States economist at Maria Fiorini Ramirez Inc., a research firm in New York.
Many analysts, including Mr. Shapiro, believe a housing slowdown is already under way. Along with rising interest rates and anemic job growth, any such drop-off could sap the economy next year - by just how much is still subject to debate.
Americans have taken advantage of historically low mortgage rates to buy homes, refinance existing loans and borrow money for renovations or other household needs, all of which have been an important and substantial boost to spending, Mr. Shapiro said. While neither he nor others expect that activity to dry up, even a modest tapering off could knock growth down a peg or two. Mr. Shapiro, for one, says gro
Typical, I read too....Heres' a translation for you Will of what the media, is really trying to say, so you can understand.
Oh, it's great, things are doing awesome!!! Gold is through the roof, highest in 18 years!!!! Homes sales are setting records!!! Consumers, they are consuming!!!!!
But, we've been saying that the housing market will burst for 5+ years now!!!! But we really mean it now.
Lawdy Lawd, we know things are going pretty darn well considering the adversities that we have faced in the last 5 years. But, because a Republican is in office, we will find any small negative and embellish it, and lead the huddled masses to beleive that everything is in the sh*tter.
I read it Will, it's the same version of about 15 stories I read yesterday. They all say the same thing. It's good, but WATCH OUT!!!!! Over and over. Get over it.
Yeah, there's no logic behind what analysts are paid good money to talk about. The only logic they use is, "Damn, how can we screw that Bush guy again?"
C'mon, Jenn. If Bush's legs were blown off by a roadside bomb in Iraq (If he ever went there to see firsthand), you and Georgie would still be saying that things are going swimmingly.
On the important issues, you have to step back from your party line and make an assessment based on facts and expert analysis. You can't rely on spin from whichever party you support, which will always give you what you want to hear.
In my opinion, that's a big reason why we're such a divided country right now. Everyone is so worried about their party's talking points instead of stepping away and really getting some shit done. The dems are pathetic. The repugs are lying and cheating to push an agenda we don't even know the scale of yet. Yet, those in between with logical information and ideas are being labeled and shoved aside.
Politics should be for the people. Not working against the people.
what an lack of statement that post is...and of course both parties are the conspirators. It is almost as bad as saying the world is flat that's a conspiracy. Those who denies about governmental conspiracies are as delusional as saying the world is flat...
What agenda? How unpopular they can get?
I would hardly call the NYT a moderate source. Frankly they have lost any and all credibility they ever had as far as I am concerned.
The economy is going very well by almost any measure. The OECD even admits that projections for next year are debatable, and are only warning of a possible slow down in projected growth.
Unfortunately for the NYT, this is as close as they could come to "Bush failed," and it doesn't even come close.
Frankly, the president, any president, has almost nothing to do with the economy at all. I find it humorous it is even a campaign issue.
Will's right about a couple of things though.
If Bush got his legs blown off it wouldn't change my assessment of the war at all. How could one single event overshadow the liberation of 50 million people, Libyan disarmament, democratic reforms in the ME, and the exposure of the UN as the "blood for oil," greedy, morally bankrupt, and powerless orqanization it really is.
Those are the facts, by the way.
The world could also do with a lot less rhetoric. But Will seems to have swallowed a whole bunch of it, so he'll forgive me if I chuckle, and take his lecture with a huge grain of salt.
Here Here Tea!
Hey look at this!
http://img.photobucket.com/album...feld-
saddam.jpg
Gee, I didn't know you were an NFL coach.
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