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Worst Economy since Herbert Hoover

 


S3nd K3ys
It is amazing how quickly the economy has turned around!

Though the Dem's claimed in the last election that the US had "the worst economy since Herbert Hoover", we now have an unemployment rate of just 4.6%.

This must be considered one of the greatest economic turn-arounds in history.

It's true that gas prices are high, in spite of the fact that Bush invaded Iraq to steal their oil. But, as a percent of income, gas prices are actually cheaper than they were under one of the greatest presidents of all time, Jimmy Carter.

Not to mention that the US Economy is the envy of the world.

Of course, the future is hard to predict. Perhaps about 12 months before the next presidential election, the US economy will once again slip into the worst recession since Herbert Hoover.

JSmile
S3nd K3ys wrote:
It is amazing how quickly the economy has turned around!

Though the Dem's claimed in the last election that the US had "the worst economy since Herbert Hoover", we now have an unemployment rate of just 4.6%.

This must be considered one of the greatest economic turn-arounds in history.

It's true that gas prices are high, in spite of the fact that Bush invaded Iraq to steal their oil. But, as a percent of income, gas prices are actually cheaper than they were under one of the greatest presidents of all time, Jimmy Carter.

Not to mention that the US Economy is the envy of the world.

Of course, the future is hard to predict. Perhaps about 12 months before the next presidential election, the US economy will once again slip into the worst recession since Herbert Hoover.



I truly believe that as I grow older the 80/20 rule is the secret to life - if you asked the average American how the economy was doing, they would be grumbling about gas prices and inflation. Ask someone on Wall Street and they would tell you about the current Bull Market, short term gains (and currently losses) in commodities and emerging markets, and the overall strength of inflation (read: skyrocketing prices due to increased spending.) Hopefully with the nomination of Hank Paulson, the nation will have someone to actually convey that message to rest of America.
Soulfire
I brought that same point up earlier, leaving my teacher speachless (referring to the gasoline comment).

She is all "Gas is just so expensive nowadays." And I responded "In spite of Bush invading Iraq to steal their oil, as you believe?" She was pretty speechless, I had a good laugh.
JSmile
Are you still in high school? You'll face a bunch of kids who will repeat what their parents complain about - if I were you (and remember we do have a similar viewpoint) I wouldn't pick political fights, as people will never stop complaining.

I'm glad a young person is smart enough to jar their teacher like that though Twisted Evil
Bondings
Soulfire wrote:
In spite of Bush invading Iraq to steal their oil, as you believe?

Maybe because crime doesn't pay?

By the way, it's not because prices increase that it didn't help. It might have been even worse. Wink
Scorpio
Bondings wrote:
Soulfire wrote:
In spite of Bush invading Iraq to steal their oil, as you believe?

Maybe because crime doesn't pay?

By the way, it's not because prices increase that it didn't help. It might have been even worse. Wink


Always being optimistic does help, you know..
JSmile
Oh man another thread gone downhill due to the war. I guess this would be a great gauge of public opinion.
GDG
Yeah maybe the US economy is great but Americans are still complaining. Especially with what is happening with the USD (US Dollar) and CAD (Canadian Dollar).

Just last week the CAD was in a steady rise and very close to beating the USD. Yes like you said we have no incite into the future or control over it. Well will be interesting to see if the USA still stays as the economy leader, or will a new one have to take its place?
JSmile
GDG wrote:
Yeah maybe the US economy is great but Americans are still complaining. Especially with what is happening with the USD (US Dollar) and CAD (Canadian Dollar).

Just last week the CAD was in a steady rise and very close to beating the USD. Yes like you said we have no incite into the future or control over it. Well will be interesting to see if the USA still stays as the economy leader, or will a new one have to take its place?


China will in at least 15 years. Our currency is declining, however the economy can still be strong in times of a weak dollar.

I just believe that Americans are relying on poor mediums of the media to recieve their information.
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