I'm watching McLaughlin Group. Is the economy in decent shape?

[babylonsister]

They seem to think so; I wonder.

[whistle]

1. Heads lodged way up their asses

[wildhorses]

2. the economy from where i am sitting is in the dumper

down the tubes
in the shitter

i guess i need to swap seats with one of those asshats:patriot:

[Ishoutandscream2]

3. Gas prices skyrocketing

which leads to higher prices on other essentials, in essense hurting Joe Sixpack. Plus, Joe's job has been either outsourced, or his wages have stagnated and he can't afford health insurance to boot. But for the panel, I'm sure everything is just going swimmingly.

[Cleita]

4. The McLaughlin group has been so irrelevant for such a long

time, I can't believe they are still on.

[asjr]

5. I wonder when any of them

have been grocery shopping. Prices have been rising steadily and some are obscene.

[enid602]

6. economy

If you look at some of the numbers (employment, spending, etc) things don't look so bad. But remember, they are being artificially propped up by record government spending. That spending is not sustainable, as we're borrowing the money. Economies go through cycles, and it's good to save your pennies while things are good, so you have plenty to spend when they get bad. I feel that the inevitable decline in defense spending, coupled with the housing crunch and a government that is no longer able to prime the pump, might spell disaster. I fear that Bush's talent in managing the currency and the economy are similar to his ability to plan and wage wars. Jimmy Carter was blamed for recession and stagflation in the '70's, but it was really the hangover from the Vietnam War (huge debt, unsustainable defense spending, investment not going into manufacturing) that caused the problems.

[lpbk2713]

7. Great shape.

If you happen to be a BushCo insider.

[Captain Angry]

8. There are few positive indicators.

The stock markets being at near record (non-inflation adjusted) highs are one indication of a strong economy that is pointed to.

There are some negative indications as well.

- Fuel prices are high.
- Housing foreclosures.
- High national debt.
- Low dollar value vs. other currencies.
- Interest rates increasing, reducing corporate borrowing for investment purposes. (i.e. job creation)
- Wages are falling, much as they will hide that fact.
- Employment rates are not nearly as high as they report that they are. If you didn't find a job after 6 months of benefits, you're not unemployed anymore.
- Higher fuel prices increasing price of everything else.
- Corn redirection to ethanol increasing meat and grain costs as supply reduced.

- Etc.

[AX10]

9. I'm dissappointed to hear this from them.

Usually they are not the ones to tow the right wing line.

[madrchsod]

10. it`s nothing to write home about

but the sky is`t falling.

[hfojvt]

11. seems to me that

banks are anticipating a recession. CD rates for a twelve month CD are higher than for 24, 36 or 60 months. Like the banks don't want to get locked into a high rate when the recession comes and the FED lowers the rate to futilely try to revive the economy.

[greyghost]

12. You aren't alone, they're...

anticipating a MAJOR recession.

BTW, I saw McLaughlin last Sunday and he wasn't overly optimistic.