Why Can't the Poor be Like Us?

[whell]

Originally Posted by Chicks

Thanks for validating Obama’s great economic recovery! 92 straight months! The current president* is riding Obama’s coattails on this for now, but his idiotic policies, especially on trade, and loosening direly necessary banking oversight, will very likely result in another Repube economic meltdown.

Of course it will, Chicklet.

In the meantime, some adults weigh in on the US economy's prognosis:

The US economy suddenly looks like it's unstoppable

In the face of persistent fears that the world could be facing a trade war and a synchronized slowdown, the U.S. economy enters June with a good deal of momentum.

Friday's data provided convincing evidence that domestic growth remains intact even if other developed economies are slowing. A better-than-expected nonfarm payrolls report coupled with a convincing uptick in manufacturing and construction activity showed that the second half approaches with a tail wind blowing.

"The fundamentals all look very solid right now," said Gus Faucher, chief economist at PNC. "You've got job growth and wage gains that are supporting consumer spending, and tax cuts as well. There's a little bit of a drag from higher energy prices, but the positives far outweigh that. Business incentives are in good shape."

[BlueStreak]

Originally Posted by whell

Of course it will, Chicklet.

In the meantime, some adults weigh in on the US economy's prognosis:

The US economy suddenly looks like it's unstoppable

In the face of persistent fears that the world could be facing a trade war and a synchronized slowdown, the U.S. economy enters June with a good deal of momentum.

Friday's data provided convincing evidence that domestic growth remains intact even if other developed economies are slowing. A better-than-expected nonfarm payrolls report coupled with a convincing uptick in manufacturing and construction activity showed that the second half approaches with a tail wind blowing.

"The fundamentals all look very solid right now," said Gus Faucher, chief economist at PNC. "You've got job growth and wage gains that are supporting consumer spending, and tax cuts as well. There's a little bit of a drag from higher energy prices, but the positives far outweigh that. Business incentives are in good shape."

Chicks was referring to the long term......6-8 years. I understand that you, being a corporate goon, naturally lack that much foresight. What you see in the front of you at the moment is proof that we're on the right path. It's okay, we love you anyways. You're very special to us.

[whell]

Originally Posted by BlueStreak

Chicks was referring to the long term......6-8 years. I understand that you, being a corporate goon, naturally lack that much foresight. What you see in the front of you at the moment is proof that we're on the right path. It's okay, we love you anyways. You're very special to us.

Ah, I see.

Well, we corporate goons understand that economies are cyclical, and the likelihood of a future recession is always there. So, yeah, six to eight years from now its quite possible (and if history is any guide, quite probable) that there will be a recession. And just like a million monkeys banging away at typewriters creating the possibility that one of them might produce War and Peace, Chick's prognostication of economic doom and gloom six to eight years from now has a similar chance of being correct.

So, since this particular corporate goon will likely be retired by then, I'll have little control over what might happen at that time. However, I've squirreled away all of my ill-gotten gains in questionable investments and tax sheltered accounts enabled by tax loopholes, so I should be just fine.

[BlueStreak]

Originally Posted by whell

Ah, I see.

Well, we corporate goons understand that economies are cyclical, and the likelihood of a future recession is always there. So, yeah, six to eight years from now its quite possible (and if history is any guide, quite probable) that there will be a recession. And just like a million monkeys banging away at typewriters creating the possibility that one of them might produce War and Peace, Chick's prognostication of economic doom and gloom six to eight years from now has a similar chance of being correct.

So, since this particular corporate goon will likely be retired by then, I'll have little control over what might happen at that time. However, I've squirreled away all of my ill-gotten gains in questionable investments and tax sheltered accounts enabled by tax loopholes, so I should be just fine.

Me too. I'm up to a half million now because I had the brains to ignore Republican scare mongers in 2009. Imagine if everyone had ignored those assholes, how much more quickly the economy might have recovered.....?

The only problem I have is in the way politicians play it. One steps into an economy that has already grown out of a deep recession, stocks risen from say ~6500 to almost 19,000, unemployment fallen substantially from about 10% nationally to less than 5%...……. And the man he follows gets zero credit while he actively grabs all the credit, having done absolutely nothing to earn it. That's a lying prick, right there. I'm sure you've watched that sort of thing happen from time to time in your career. After all, businessmen can be lying, backstabbing pricks just like any politician. Now, fast forward to the next transition of power and who ever follows the current fat, golf course dwelling, credit grabbing showman and this recession you say is inevitable. A repeat of 2008, wherein the economy is collapsing and it's the man who hasn't even won the election yet who is to blame for it? Just something I was wondering about as I cut the grass, today.