| Stock Market Boom: This only means rich people are paying more for stock. What about jobs? GDP?
Posted: 10/19/2006 2:55:59 PM | The price of gasoline has gone down so people who were afraid of going broke only afew months ago are using the money to buy other things.
If you think the economy is healed, though; take a look at how many people are still out of work and whether sales totals have increased.
It will take afew months, but don't be overly impressed because only the top 5% of income earners decided to invest THEIR tax cut. It's only the law of supply and demand for rich people. | |
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TishaG
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Joined: 11/13/2005
Msg: 2 | |
| Stock Market Boom: This only means rich people are paying more for stock. What about jobs? GDP?
Posted: 10/19/2006 3:00:13 PM | | How many people are out of work? Unemployment is the lowest it's been in decades. Maybe the ones that are out of work..are so because they "don't want to work". And I don't care if they lost a job and there's nothing for them in their field of expertise. Try something else. I know alot of people who had to do that. And they're making something out of it. It comes down to personal responsibilty and organizing your life once again. | |
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| Stock Market Boom: This only means rich people are paying more for stock. What about jobs? GDP?
Posted: 10/19/2006 3:51:36 PM |
No offense dude but your understanding of the finacial markets is scary, lol. :)
Rich people are not the only ones that own stocks. I would say 80% of working America owns stocks via their retirement plans and or mutual funds.
Okay... but what class invests the most?
Who's driving the prices up?
Is there some great sales performance I don't know about that justifies the increasing values they're selling at?
The price of gas at the pump has gone down... so does that mean we're having an economic boom?
I doubt it.
Yaknow... one of the biggest value jumps in stock market history was right before the crash of 1929, so that doesn't mean squat.
Show me some balance sheets, please. | |
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Sguss
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Joined: 9/6/2006
Msg: 6 | |
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Sguss
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Joined: 9/6/2006
Msg: 10 | |
| Stock Market Boom: This only means rich people are paying more for stock. What about jobs? GDP?
Posted: 10/20/2006 3:09:59 PM | "Please cite your source please. I don't believe that's accurate."
As requested:
http://www.foxnews.com/story/0,2933,219745,00.html
"The deficit for the budget year that ended Sept. 30 was 22.3 percent lower than the $318.7 billion imbalance for 2005, handing Bush a welcome economic talking point as Republicans battle to hold onto control of Congress in the midterm elections."
http://www.bloomberg.com/apps/news?pid=20601087&sid=aCMuQC3VsNWE&refer=worldwide_news
"July 11 (Bloomberg) -- The Bush administration cut its estimate of this year's budget deficit by 30 percent to $296 billion amid a surge in tax collections from corporations and wealthy individuals, a White House spokesman said."
http://seattletimes.nwsource.com/html/politics/2003300541_deficit12.html
This is my favorite link. It has a nice graph showing the deficit amounts between '96 and '06 in 2 year incriments.
"The administration has drawn criticism for its deficit projections, and Democrats cried foul again Wednesday. They said the deficit reduction was exaggerated because the 2004 figure Bush quoted was just a projection that was later reduced by $100 billion, meaning the 2006 deficit actually represented a decrease of 39 percent."
I am sure there are more sources as well. I originally heard the figure on a news report, the above links and quotes came from a 5 minute search on Google.
Sam
P.S. If you go with the Dems complaint on the inflated deficit ($100 billion added on by mistake) it's 30%. If you go by the true figure it's 22.3%. Ok, accounting mistake aside the deficit is still lower by almost 23%... ok just over 22%. Still impressive enough for me. By the way be sure to check out the Seattle Times link with the graph. I was pretty amazed at the difference over the last 10 years. | |
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| Stock Market Boom: This only means rich people are paying more for stock. What about jobs? GDP?
Posted: 10/20/2006 3:21:28 PM |
This is my favorite link. It has a nice graph showing the deficit amounts between '96 and '06 in 2 year incriments.
Conrad added that the president also failed to note that he is tapping Social Security taxes through off-budget borrowing. Accounting for that would have added $550 billion to the deficit last fiscal year, money that will have to be repaid as 78 million baby boomers start retiring in 2008.
While Bush took credit for "restraining spending," federal expenditures actually rose 7.4 percent compared to 2005, to a record $2.65 trillion. The biggest spending increases: education, up 28.1 percent; Medicare, up 12.5 percent; and interest on the public debt, up 15.2 percent. Tax revenues also reached an all-time high of $2.41 trillion.
Many economists believe this year's smaller deficit is just a blip. The nonpartisan Congressional Budget Office predicts the deficit for fiscal 2007 will swell to $286 billion and total $1.76 trillion over the next decade.
The CBO also cast doubt on Bush's claim that tax cuts would reduce the deficit. Its estimates show that extending the tax cuts, which are scheduled to expire in 2010, would add $2.2 trillion to the deficit through 2016.
Treasury Department estimates show the cuts would add just 0.7 percent to economic growth, or $29 billion.
Ummmm....did you read, or just look at the pretty picture?
Peace  | |
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| Stock Market Boom: This only means rich people are paying more for stock. What about jobs? GDP?
Posted: 10/20/2006 4:15:57 PM |
Stock market up.
That's what I said... but why?
does it mean anything other than people are paying more money for the stocks of 30 selected companies? (the Dow Jones Industrials)
Economy Up.
You mean the economy's grown this year?
Sorry... we'll have to wait for the GDP to be calculated as evidence before we make that conclusion...
Gas prices down.
yes, and it's right before the elections that the republicans are thought to be in trouble on.
Deficiet cut by nearly 23% since last year.
This is where we may not understand the concept...
The "deficit" is the amount of money we borrowed from bond sales and social security this year to pay the bills for the federal government. If we'd collected enough taxes, we wouldn't have a "deficit" at all. Last year, the federal government borrowed 602 billion (which we'll be paying interest on...) and in 2006/2007 it's 543 billion (which we'll be paying interest on also). So, not only do we see the difference is less than 23% (493/602 which makes is .90 which taken away from 1.0 makes 10%):
from http://www.infoplease.com/ipa/A0104753.html
Year Deficit (-)
2005: –493,611
2006: –602,141
2007: –543,419
but we're also still paying interest on a national debt of 8.5 trillion dollars...
http://zfacts.com/p/461.html
of which 5 trillion was from deficits incurred while republicans were in office and we're paying 19% of our yearly budget in interest payments to china and social security now. What kind of voodoo economics is that?
Lowest unemployment in a long time.
You mean lowest amount of people collecting unemployment insurance in a long time. Bush's economy has only added about 5 million jobs in 6 years, still not figuring the ones that have left and gone overseas. Clinton's added 20 million.
Alot of people have run out of unemployment insurance and couldn't find jobs, so they're not counted as "unemployed" anymore.
Your complaint again?
the only people with money to invest are the rich, and the republican economy sucks. | |
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| Stock Market Boom: This only means rich people are paying more for stock. What about jobs? GDP?
Posted: 10/22/2006 1:31:22 PM | | I had to laugh when I read someone say that the only people who do not have a job are the ones that don't want to work. Yeah, there is jobs alright. I know people working 2 or 3 part-time jobs trying to make ends meet and none of them are providing health care benefits. The local newspaper had a story about a guy who worked at a Meijer store (similar to wal-mart) back in the mid-90s making 9 bucks an hour. He found a better job and several years later was downsized. He went back to Meijer and applied for his old job which he got hired for, but it was now paying $6.50 an hour. If anyone thinks there is not something wrong, they do not have their eyes open. | |
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| Stock Market Boom: This only means rich people are paying more for stock. What about jobs? GDP?
Posted: 10/22/2006 2:50:32 PM | I don't agree with your assessment of the stock market. ANYBODY with the will and hard work can invest and either profit or lose in the stock market. It's called initiative and working towards something to better yourself.
I don't agree with people who blame the government for not getting what they want out of life. I don't want a spoon fed society where the government takes care of people. That's called Socialism and it doesn't work. It just creates a welfare state where people are only looking for a handout. | |
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| Stock Market Boom: This only means rich people are paying more for stock. What about jobs? GDP?
Posted: 10/22/2006 5:50:20 PM | Lets see now~~~So far what Ive gathered from this thread is.....
Only rich people invest in the stock market.
Eighty percent of Americans invest in the stock market.
Anybody who wants to can invest in the stock market.
Only certain "classes" of folks invest in the stock market.
One of the biggest jumps in stock value came right before the 1929 crash.
The reason people are unemployed is because they dont want to work.
The economy has grown this year.
The economy has not grown this year.
The deficet was reduced by 23% last year.
The deficet was not reduced by 23% last year.
The Republican economy stinks.
The price of gas has gone down.
Money is make believe.
Unemployment rate is lowest in decades.
The gold standard was abandoned before Flyguy was born.
All of these statements reinforces my firm belief that what makes the World go around in a nutshell is,one word~~~~PERSPECTIVE~~~ | |
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| Stock Market Boom: This only means rich people are paying more for stock. What about jobs? GDP?
Posted: 10/26/2006 12:34:45 AM | Stock market up??? to some it equates to repubicans pulling some strings to get some votes. Reality overall market is good, people are investing and its not just the rich. Where not living in the depression and no where near it. Yes they may be people out of work but this could be true for any decade in times past. There will always be people out of work. Unemployment is very low so that equals to good economy.
Gas prices down?? Oh yeah gotta be those damn replubicans behind it to get votes. Something good happens lets just blame the republicans for it.
The only thing that really is hurting the economy is health care cost. Other than that all i see is people living a generous lifestyle of nice houses and new cars. | |
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dmotz
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Joined: 7/25/2006
Msg: 18 | |
| Stock Market Boom: This only means rich people are paying more for stock. What about jobs? GDP?
Posted: 10/26/2006 6:51:10 AM | I am by no means a rich man. I work everyday and invest my own money in the market. My 401k is a joke...my ESOP(EMPLOYEE STOCK OPTION PURCHASE) is outstanding. We are an employee owned company and we see huge amounts put in our accounts every year. I know people who have been with the company for 20 years and have over 1.5 million. These are not CEO`s and upper staff...just your everyday worker. Last year, Jan of 06. My account was $195,000. I have only been with the company 3 years. I can not touch this untill I retire or reach 55.
In the mean time, I invest in the stock market. Not much, maybe a few hundred bucks a month.
The reason I do this...Social security may not be here in another 20 years. I have to take care of myself.
The economy is doing very well here in Utah. Has been for over 8 years. | |
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| Stock Market Boom: This only means rich people are paying more for stock. What about jobs? GDP?
Posted: 10/26/2006 9:37:24 AM | anticon...
Okay... but what class invests the most?
Who's driving the prices up?
Is there some great sales performance I don't know about that justifies the increasing values they're selling at?
The price of gas at the pump has gone down... so does that mean we're having an economic boom?
I doubt it.
Yaknow... one of the biggest value jumps in stock market history was right before the crash of 1929, so that doesn't mean squat.
Anticon, you seem a bit over your head on this topic and should be asking questions rather than making assumptions.
I can't sum up the market in one post but I will make some practical points.
To read the market one must accept certain relationships in events and regularly occuring cycles.
Military spending and the war has caused to government to borrow and print more money. At the same time the economy still chugs along VERY stronge.
These activities increase inflationary pressures which causes the FED to increase the rate of lending.
The increased rate of lending is meant to slow the economy to reduce inflationary pressures.
The increased rate of lending soft-burst the housing bubble which was too high anyway.
Even with less building of housing, the economy is still strong.
High gas prices brought it's own suprise. It didn't reduce consumption. The economy leaned out of the punch and actually handled it well. But a recessionary response was alway possible especially when the FED is butting heads with indflationary pressures.
But now gas is DOWN...YES that will trickle into improved numbers for retail.
While mortgage rates are higher, they are still very low. Housing has settled back but has not stopped.
Everything hinges on the balance of a strong economy, inflationary pressures, and the fed reacton.
Due to the clear plateau that inflation appear to be in, the FED is in a long pause. Good investors see that many stocks are worth many more multiples of earning in this environment. It's natural that stocks are pumping up. And these increases could sustain for awhile.
Smart investors know how many multiples of earning a stock can sustain. People will begin to take partial profits, and then sell out completely. The educated will make money...the foolish will buy in late and lose.
My ony complaints in today's business world is "the game". Businesses make record earnings while work is sent overseas to compete and medical benefits are harder and harder to get...notto mentiuon medical benefits are more expensive.
While corporate earnings have grown over years...wages have been basically frozen.
And when considering the whole picture we have to look at the record number of illegal immigrants crossing the border and tapping into "our resources". This isn't a melting pot argument...it's RECORD NUMBERS doing harm to our way of life. | |
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| Stock Market Boom: This only means rich people are paying more for stock. What about jobs? GDP?
Posted: 10/27/2006 12:59:54 PM | How about that housing market and forecloser rate??????
GDP growth weakest in over 3 years
Fri Oct 27, 2006 8:31am ET144
WASHINGTON (Reuters) - A slumping housing sector helped slow U.S. economic growth in the third quarter to its weakest pace in more than three years, the Commerce Department reported on Friday.
Gross domestic product, which measures total economic activity within U.S. borders, expanded at a 1.6 percent annual rate during the third quarter, down from 2.6 percent in the second quarter for the slowest advance since 1.2 percent in the first quarter of 2003.
Third-quarter GDP growth was well below Wall Street analysts' forecasts for a 2.2 percent rate of growth and reflected a range of influences that combined to slow the economy. Most striking was a 17.4 percent annual rate of contraction in spending on new housing - the biggest decline in 15-1/2 years since a 21.7 percent drop in the first quarter of 1991.
In addition, business spending on inventories increased only at a $50.7 billion rate, slowing from $53.7 billion in the second quarter, and the volume of imported goods accelerated sharply to a 7.8 percent annual rate of increase in the third quarter, more than three times the second quarter's 1.4 percent increase.
The drag on growth from a rapidly softening housing sector was expected, since other reports have shown prices are weakening for both new and existing homes and builders are offering incentives to try to reduce their inventories of unsold homes.
By contrast, the GDP report showed that business investment remained healthy and consumers picked up their spending pace, giving credence to forecasts that the economy retains enough vigor to keep growing at least at a moderate rate.
Nonresidential investment, which serves as a proxy for business spending, rose at an 8.6 percent annual rate in the third quarter, close to double the second quarter's 4.4 percent. Consumer spending, which accounts for roughly two-thirds of national economic activity, increased at a 3.1 percent rate, up from 2.6 percent in the second quarter.
The news was mixed on prices.
A gauge favored by the Federal Reserve - personal spending excluding food and energy - increased at a 2.3 percent rate during the third quarter, slower than the 2.7 percent posted during the second quarter.
But so-called core prices, measured on a year-over-year basis, were up 2.4 percent in the third quarter, which department officials said was the strongest rate since 1995. The Fed highlighted its continuing concern over potential inflation pressures when it announced on Wednesday that it was keeping interest rates steady for now, but it remained watchful about price rises.
© Reuters 2006. All Rights Reserved. | |
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