Bush: Economy is strong and getting stronger as people pawn jewelry for gas

[NNN0LHI]

http://www.suntimes.com/output/quicktakes/cst-nws-qt25.html

How much jewelry to the gallon?

April 25, 2006

News Headline: "Drivers are pawning possessions for gas money."

News Headline: "Bush says economy is 'strong and getting stronger.' "

Ask any pawnshop owner.

Beats Social Security



QT Trickle-On Economics Update:

The CEO of IBM, which cut pension benefits for its workers earlier this year, will receive a pension of $11,000 a day.

[liberal N proud]

1. When bu$h sees the economy as strong he only sees how rich the

top 10% are getting.
He never looks past the performance of the top 10% - His base

[Divernan]

2. So how many gallons for my ex's gold high school ring?

Regular grade, that is.

[Loge23]

3. Now comes the wage pressure

The folks who are pawning things to pay for gas are doing this in order to get to work.
This will create significant wage increase pressure, which in turn will continue to hyper-fuel inflation. Adjustments to materials (via manufacturing/delivery costs) will keep the fires burning.
The idiot president's gift to his oil cartel buddies started out as a contolled burn but has raged out of control into an inferno.
No longer will the admin be able to point to a "strengthening economy" when the bottom falls out.
If you have cash, keep it liquid. Interest rates are about to get real interesting.

[ProfessorGAC]

4. Um. Li'l Georgie. I Know You Won't Understand, But. . .

. . .the oil business is a nearly 1 trillion dollar industry. When prices go up at the pump by 60 cents, that a 25% increase in an industry that is 8% of the total GDP.

So, 2% of the "gloriuous" growth is JUST THE INCREASE IN THE PRICE OF GAS! That is more than 40% of the purported "growth rate"!

Idiot!
The Professor

[ProfessorGAC]

5. Dupe Post

..

[Joe Fields]

6. Bush doesn't fool very many people anymore with this type ........

of rhetoric. It is a false economy, and the numbers have been inflated, due to reworking of the economic models used.