Where is the US economy headed?

"We", H2 Oboy? You got a frog in your pocket?

MJ, we are still laughing at you.

You got a frog in your pocket?

**** edit *** I guess MJ beat me to it.

Nothing original from Parasite.

Ah, but I will always be more original than you will squirt.

Keep repeating that lie if it makes you feel better, but it will not change the facts.

You and your frog have a good chuckle, H2 Oboy.

Meanwhile, take a look at the economic indicators. Them's the facts. They trash your arguments.

MJ, look at what Obama is doing to this counties economy... he's trashing it.
You choose to ignore this fact and you prefer to keep us laughing at your ignorance.

Economic growth is trashing an economy?

Wow.. You sure have a strange way of talking trash.

There is no economic growth.

Obama and his democrats are trashing this countries fragile economy.

Breaking News Alert
The New York Times
Thu, April 28, 2011 -- 8:41 AM ET
-----

U.S. Economic Growth Slows to 1.8% Rate in First Quarter

The American economy slowed to a crawl in the first quarter,
but economists are hopeful that the setback will be
temporary.

Total output grew at an annual pace of 1.8 percent last
quarter, the Commerce Department said Thursday, after having
expanded at an annualized rate of 3.1 percent at the end of
2010. Most economists had forecast growth of 2 percent in the
first quarter.

The slowdown was largely the result of a widening trade
deficit, a larger decrease in federal government spending and
higher commodity prices, which reduced the amount of pocket
money that households and businesses had available to spend.*
Read More:
http://www.nytimes.com/2011/04/29/business/economy/29econ.html?hp&emc=na

* There is a widening trade deficit because we send our manufacturing overseas and have little to nothing left to trade. Furthermore, some things made in other countries are superior, such as flannel sheets made in Germany, ceramic ware made in France.

A decrease in federal spending? I would guess that statement speaks for itself.

Higher commodity prices?! Think of the fact that the richest 400 people in this country beat out 150,000,000.

DJIA when Bush took office in 2001 - 10,600
DJIA when Bush left office in 2009 -- 8,300


DJIA when Obama took office in 2009 -- 8,300
DJIA today when Obama is still in office -- 12,800


It seems the market doesn't believe you squirt.
source

This fragile economy is transitioning from bad to worse under Obama's rule.

you're having a little trouble telling up from down, H2

waterboy continues to make a fool of himself by posting his totally ignorant knowledge on most subjects, but I would encourage him to continue, because it shows how dumb he really is. Reinforcements about his stupidity is encouraging, because people like him live on stupid. Makes one wonder how they ever survived this long!

I kind of speculate that the Dow is responding to the suddenly very weak dollar. It should be a big boost for exports like agricultural and manufactored products. I'm not so optimistic on the way it's going to effect the prices of imports. Oil is largely an import, by the way.

Right on target; the cost of energy will continue to depress our economy, because energy at these current prices are affecting the cost of everything.

To top it off, job creation is still very slow, and home prices are being further depressed in most parts of the country. Without construction, our economy cannot hope to grow. All while mortgage defaults continues to grow.

It's going to be a very long haul ahead for all of us.

The feds under Bernanke are doing a lousy job; they are keeping interest rates low for banks and the US government while charging consumers high interest on loans for everything we buy, and not paying anything on our savings accounts. They are doing everything ass-backwards.

Banks get cheap money, and screw consumers with paying low interest on savings accounts and charging high interest on credit cards and loans. This further depresses consumer spending. The US government sell bonds at low interest rates to exacerbate our national debt.

These dummies are destroying our economy.

I wouldn't disagree with that, Roger. The FRB and the Obama admin may have decided that it was important to keep exports cheaper and imports more dear in order the keep the large domestic manufacturers competitive, mitigating even higher unemployment then we already had. Caterpillar, for example, today reported awesome profits.
As you noted, though, oil is denominated in ever depreciating dollars, so we will likely hit $4 gas and that has/will have a large impact on drivers and businesses like mine where shipping is a significant factor in our cost of goods. It is difficult to pass that cost on to the consumer who are having to devote a larger % of their income devoted to gas and food.

Absolutely right. I couldn't be more disappointed in Bernake right now. He has completely abandoned any pretense that the Fed exists for any other purpose than to keep the banks solvent.

Cycloptichorn

Did anybody think otherwise Cyclo? And it is important that the banks are solvent. Much more important than any of your theories.