Where is all the economic growth?

[Crazy Dave]

I'm going by what I see on a daily basis. Foreclosures left and right in my neighborhood, moving vans moving families out, not in. No jobs only more layoffs and companies in business for over 50 years shutting down. My plumber is about to lose his business and his home is being foreclosed on due to him making $200k less a year.

Where is the growth? Excluding Wall Street which is now primarily investing in manufacturing overseas and the moving and rental truck companies moving people out of their homes.

[LiberalEsto]

1. It's in the Koch Bros' bank accounts. nt

[dkf]

2. Where are you?

[jtuck004]

3. Read Walmart, Coke, just about any annual report.

Their profits are up outside of our borders, lowered sales inside.

I logged onto Zillow the other day, our home is about 30% off of its peak, but the scary part is all the for sale homes around
us - red squares - almost can't see anything else. There are homes down the block that have been sitting for over a year, I wonder
if they have been foreclosed on. Story on Dr Housing Blog a week or so ago, there are about 7 homes in foreclosure, being held by the bank, for every 1 actually listed on the MLS. They are holding them in a "shadow inventory" to keep from depressing their prices.

This is what happens when you ignore 27 million underemployed people and follow the failed history of "trickle-on" economists by trying to re-inflate their friend's banks.

[Crazy Dave]

5. Great reply and accurate

I haven't been through any newer subdivisions lately where cookie cutter homes were once built and sold within 45 days or less but I'm sure they look worse than in my old neighborhood. Most of the homes here are over 30 years old and most of the people were here before I moved in 11 years ago. At least four homes and rising on every street within a half mile radius. All with signs that say "foreclosed" and "distressed sale". I can see that with newer homes all bought buy people wanting to flip them without even having lived in it, but most of my neighborhood was once full of responsible people who had lived in the same home and worked at the same employer for over 20 plus years until both their employer and then their bank dumped them out into the street.

[Peter1x9]

4. It's all concentrated to the top 1%.

Everyone else is just fighting over the scraps.

[CRH]

6. Where is the growth?

What do you mean, where is the growth?

Corporate profits are up, multi nationals are thriving from foreign investment, and incidentally, foreign labor. We might not have as many jobs, but look at our improved GDP. Without those jobs we now have more time for Facebook and Twitter! Herein opportunity knocks, its sound is thundering.

This is our chance to be apart of something new, big, and growing. Why just the other day Goldman started a new fund valuing Facebook at more than 400 billion, and recently Morgan Stanley announced a chance for us to invest in Twitter, and that is valued at 100 billion. Now that is growth, reflecting in our larger GDP.

And just look at the contributions these two have made to employment. Why Twitter has 300 employees and Facebook almost 1200! So that half a trillion dollars of GDP (4%), provides employment for 1500 people! Just think, if we only double our GDP at this employment rate, 37,500 more people will have jobs!

So you see, with our small sacrifice of our jobs, this high tech global economy has given us the social revolution of social networking, and we can even buy into the ground floor of what I am sure will eventually be, nothing.

[Name removed]

7. Deleted message

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[AtheistCrusader]

8. I smell cheese and pepperoni with mushrooms.

[barb162]

9. It's in Asia n/t