Originally posted by grover
The fact is wages are stagnate.
Thank goodness interest rates are low, and inflation is under control, or this might be an issue.
The fact is a large precentage of the jobs being created are lower end service sector jobs; even you could be a greeter at walmart semper.
Why is it that service and retail sectors are so strong? Because people are spending more.
The fact is we are losing more and more jobs to out sourcing.
America will adapt; that is our strength. Labor intensive jobs will always be done more efficiently in underdeveloped nations. We weathered the
transition of heavy manufacturing such as steelmaking, we are losing the battle of automobile mfg supremacy, and we will have to adapt to survive.
Work smarter, not harder.
The fact is the housing bubble has burst and it is just a matter of time before it and gas prices drag the rest of the economy down.
Housing bubble:
A real estate bubble or property bubble (or housing bubble for residential markets) is a type of economic bubble that occurs periodically in local
or global real estate markets. It is characterized by rapid speculative increases in the valuations of real property such as housing until they
reach unsustainable levels relative to incomes and other economic elements.
As of 2007, real estate bubbles are widely believed to exist in many parts of the world, especially in the United States, Britain, Australia, New
Zealand, Ireland, Spain, Poland, South Africa, Israel, Norway, Sweden, India, Romania, South Korea, and China. U.S. Federal Reserve Chairman Alan
Greenspan said in mid-2005 that "at a minimum, there's a little 'froth' (in the U.S. housing market) … it's hard not to see that there are a
lot of local bubbles" [1]. The Economist magazine, writing at the same time, went further, saying "the worldwide rise in house prices is the
biggest bubble in history".
en.wikipedia.org...
Emphasis added.
Do I need to explain the above source?
The fact is more people are deeper in debt than ever before.
Maybe due to the housing bubble?
The fact is the defict and the national debt along with the massive tax cuts for the wealthy are actually holding the economy down since those
dollars are not being recycled back into the local economies where they actually do the most good. (Buy local, buy small business, screw wal-mart)
Bah! The wealthy invest in small businesses. And what about those tens of thousands of Wal-Mart employees who pay taxes and contribute to the local
economies?
Originally posted by jtma508
The stockmarket is a gloabl market. Its movement is largely driven by corporate profit reports. Those corporate profits are driven by global sales
--- not sales in the U.S. So while these corporations are reaping obscene profits (most of it in the energy, military-industrial and banking sectors)
the retail sector, the part we all live in is teetering on the abyss. Grover's right. Wake up people.
If I'm a stockholder, I would much rather see $100 million in
global sales as opposed to $10 million in domestic sales only. It translates
directly to the bottom line and affects all of America, including joe blow in Iowa whose 401K plan is partially invested in the stock market.