114
   

Where is the US economy headed?

 
 
spendius
 
  1  
Reply Thu 13 Oct, 2011 05:39 am
@Builder,
If it doesn't mean anything then there's no point the facility being here.

An up-thumber is merely agreeing with something and there's not much else to say. A down-thumber is disagreeing with no more than a raspberrry. How does one deal with disagreement that doesn't explain.

I thought it was an interesting idea that the pool of candidates is being squeezed between the two opposing forces I mentioned. The virtuous Christian is out because he doesn't want to preside over a blatantly libertine society and a libertine is out because the hypocrites will crucify him for an itsy-bitsy orgy with a group of consenting adults or smoking a few joints.

The quality of candidates is bound to be a function of the size of the pool.
spendius
 
  1  
Reply Thu 13 Oct, 2011 05:47 am
@izzythepush,
I can't spend $49,909. It would exhaust me. It's about £700 a week I think.

Phew!! Veblen called evenings and weekends the "night shift" when median incomes were nowhere near $49,909.

Six young working men in the pub last week flew 400 miles for a stag party and the wedding was 3 months ago. They have too much money was my reaction to such nonsense.
Builder
 
  1  
Reply Thu 13 Oct, 2011 07:44 am
@spendius,
spendius wrote;

Quote:
If it doesn't mean anything then there's no point the facility being here.


I'm not particularly fond or otherwise of the facility. Not sure why it is even here if I can click a post up or down several notches. One click per visit would seem to be a fairer system. That said, I'm more a casual observer here rather than a regular hack, so what is my two cents worth?

spendius wrote;
Quote:
An up-thumber is merely agreeing with something and there's not much else to say.


Or, in this case, redistributing the "wealth" of the forum? I can click three times on the one post? ??? Dodgy to the max. Does it really matter, in the long run?


spendius wrote;
Quote:
A down-thumber is disagreeing with no more than a raspberrry. How does one deal with disagreement that doesn't explain.


Take it on the chin. The fact that the down thumber couldn't be arsed coming up with a rebuttal points to a desertion of duty, coupled with a dearth of direction, married to a lack of ability. I would take that as a compliment personally, and an advantageous circumstance, wholly. Such a shame you can't readily identify and demoralise the offending party for their lack of identity/plausability.

spendius wrote;
Quote:
I thought it was an interesting idea that the pool of candidates is being squeezed between the two opposing forces I mentioned. The virtuous Christian is out because he doesn't want to preside over a blatantly libertine society and a libertine is out because the hypocrites will crucify him for an itsy-bitsy orgy with a group of consenting adults or smoking a few joints.


It's a battle-ground for sure. It's not my forte. I'm leaning towards a secular cultist movement that involves fishing and hunting and gathering.

spendius wrote;
Quote:
The quality of candidates is bound to be a function of the size of the pool.


I think that this forum may actually represent a forward culture, rather than a backward one.

My opinion only.











spendius
 
  1  
Reply Thu 13 Oct, 2011 08:51 am
@Builder,
Quote:
Does it really matter, in the long run?


Nope. "It's doom alone that counts" one bozo said. "In the long run we're all dead" another bozo said.

Stendhal said so bloody what. Let's enjoy. If it's going to happen there's no point bothering about it.

Quote:
I'm leaning towards a secular cultist movement that involves fishing and hunting and gathering.


Good luck with that mate. Don't forget the Anoiffe fragrance bottle.
Builder
 
  1  
Reply Thu 13 Oct, 2011 09:15 am
@spendius,
What's Anoiffe fragrance, spendius?

The US economy has the potential to climb out of the abyss.

Your attitude to this, and mine, hold 0.0000009% affect on the outcome. We are simply shooting the breeze here.

What surprises me about the attitudes of posters here is the ego quotient. It used to matter to me too. About ten years ago.
izzythepush
 
  1  
Reply Thu 13 Oct, 2011 10:13 am
@spendius,
spendius wrote:

I can't spend $49,909. It would exhaust me. It's about £700 a week I think.


You could if you rented a flat in London.
0 Replies
 
spendius
 
  1  
Reply Thu 13 Oct, 2011 10:56 am
@Builder,
Quote:
What's Anoiffe fragrance, spendius?


It's a name I invented years ago for a ladies' scent in honour of a Fiona I knew. There's a bobtail at the end pronounced "ay". If you say it slowly and breathily enough you can get a twitch. Annoooheeeeeffay.

I was going to try to sell it but I never got around to it so here it is for free.

Oh Fiona come closer, close softly your watery eyes
The pangs of your sadness will pass as your senses do rise.

What a song To Ramona is eh?
0 Replies
 
realjohnboy
 
  1  
Reply Fri 14 Oct, 2011 04:23 pm
I won't bother going into the numbers unless someone asks for details. I have them.
The Consumer Confidence Index slipped last month but consumer spending increased in September and numbers for August and July were revised upward. I ignore auto sales and look at just core goods, where retail sales increased 1.1%. Apparel, gas and restaurants were up while groceries, liquor and books/music/sporting goods were down.
Any thoughts?
spendius
 
  1  
Reply Fri 14 Oct, 2011 05:46 pm
@realjohnboy,
Well--I can see that apparel, gas and restaurants are more lady choices.
0 Replies
 
roger
 
  1  
Reply Fri 14 Oct, 2011 05:48 pm
@realjohnboy,
Consumer confidence is down and consumer spending is up. Nope. No thoughts from me.
spendius
 
  1  
Reply Fri 14 Oct, 2011 05:57 pm
@roger,
A last desperate fling maybe.
Builder
 
  1  
Reply Sat 15 Oct, 2011 12:53 am
@spendius,
Consumer "confidence" in Australia usually leads to an increase in the cash rate from our reserve bank, which is apparently a tool to cool down an "overheated" economy.

Saw a cartoon in the paper where a boy was looking over his father's shoulder at the newspaper, asking what it all meant. Father said that if the economy improves any more, then we're gonna lose the house.

No wonder the plebs are revolting........
spendius
 
  1  
Reply Sat 15 Oct, 2011 05:14 pm
@Builder,
It's a general feeling among the better sort that the plebs are revolting.
0 Replies
 
cicerone imposter
 
  1  
Reply Sun 16 Oct, 2011 07:33 am
@realjohnboy,
I was recently in Australia and Turkey; almost polar apart in their economies, but find most restaurants and bars packed with people. I'm pretty sure they're not all tourists.

Report from Cuba.
0 Replies
 
reasoning logic
 
  0  
Reply Sun 16 Oct, 2011 08:05 am
Do not watch this if you do not want to see reality!

0 Replies
 
reasoning logic
 
  -1  
Reply Sun 16 Oct, 2011 08:11 am
Is there going to be a run on the banks soon?

0 Replies
 
hawkeye10
 
  0  
Reply Sun 16 Oct, 2011 04:03 pm
With out explicitly saying it Fareed Zakaria says here that our economic system is addicted to growth. It is very clear that this is also what Reagan decided, as he became convinced that the economy must be juiced, even though it would come at the expense of mitigating risk and also degrading social cohesion.

Quote:
I was in Germany this week and the mood there is pretty grim: Europe is facing its most severe challenge since 1945. If the Greek crisis morphs into an Italian crisis - Italy being too large to bail out - the entire structure of post-World War II Europe could unravel.
Finally, European leaders seem to recognize that their strategy of kicking the can down the road has not worked. The result will not be a dramatic solution - that is not how Europe works - but, more likely, a series of steps that together will be more comprehensive than anything done before. But they will not address Europe's core problem: a lack of growth.
The Europeans - by which I mean the Germans - are trying to find some solution to this crisis that will not let countries like Greece and Italy off the hook. Germans feel these countries need to feel the pressure - only then will they reform their budgets and their habits. So the solutions will be complex - trying to stop a crisis while not bailing out these countries entirely.
The real problem - however - is not so much that Greece has been unwilling to make sacrifices. It has made many. But Greece's budget numbers look bleak because its growth forecast looks bleak. It needs to address a much larger question of competitiveness. What can the Greek economy do to attract capital and investment? And at what wage levels? These are questions most European countries will need to answer to fully solve their problems.
Italy's economy has not grown for an entire decade. No debt restructuring will work if it stays stagnant for another decade. Even Germany is not immune, with an average growth rate of only 1.5%. German officials know that with a declining population, in five to seven years the country is likely to grow at an annual rate of just 1%. That's not much of an engine for Europe.
Europe needs a crisis agenda to get out of its bind, but beyond that it needs a growth agenda, which involves radical reform. The fact is that Western economies - with high wages, generous middle-class subsidies and complex regulations and taxes - have become sclerotic. Now they face pressures from three fronts: demography (an aging population), technology (which has allowed companies to do much more with fewer people) and globalization (which has allowed manufacturing and services to locate across the world).
If Europe - and, for that matter, the United States - cannot adjust to this new landscape, it might escape this storm only to enter another.


http://globalpublicsquare.blogs.cnn.com/2011/10/16/europes-real-problem-lack-of-growth/?hpt=hp_c1

We are thoroughly fucked if he is correct, and I think that he is, because neither society nor the planet can take the abuse that this economic system demands that we inflict. Our economic system has to go, replaced with what IDK.

EDIT: he is correct that Germany now runs Europe, no one wanting to admit it changes nothing. He with the gold makes the rules, and Germany is the only EU nation remaining which has any money. The US does not either, which is why our super power status is evaporating before our eyes at record speed.
hawkeye10
 
  1  
Reply Sun 16 Oct, 2011 06:21 pm
@hawkeye10,
As a bit of an aside...what are we to make of the fact that the boomers when young went to the mat to complain about class and income inequality, but as they aged presided of the creation of the worst income inequality since the beginning of the record in 1917? Did this generation decide that they had been wrong? Did they decide that they did not care? Were they too weak to look after what mattered when it conflicted with immediate gratification? The baby boomer generation has in so many ways been a colossal failure, and given how poorly they parented there is little reason for optimism that the generation under them will turn out any better, but we can have hope. However, even though they are only now retiring the die is cast on the boomers, there is almost no chance of redemption now, nor any indication that they would attempt to gain it. It will be up to history to decide where the major wrong turns happened, how they managed to make such a hash out of American society even as they fancied themselves to be best humans ever.

http://www.huffingtonpost.com/2009/08/14/income-inequality-is-at-a_n_259516.html
hawkeye10
 
  1  
Reply Sun 16 Oct, 2011 06:47 pm
@hawkeye10,
Furthermore, as the boomers are beginning to retire we see that due to their massive under funding as well as due to their willingness to let huge numbers of high birthrate immigrants enter the country both legally and illegally...because of these two reasons mainly we see that the nations infrastructure is rotting, is increasingly several generations of technology behind the rest of the developed world, and is too small for the population. We would need to upgrade spending by about $300 billion a year for twenty years to get up to speed but we dont have it and we show no desire to make the invest even if we did. What a damning indictment on the boomers this is. It has to be in their top three failures along with their poor job of raising the children and their conceit born of willful ignorance.
BillRM
 
  1  
Reply Mon 17 Oct, 2011 01:12 am
@hawkeye10,
Hawkeye if we had not allowed that immigration waves into the country we would be in the same boat as Japan is in.

One hell of a large percent of older people and not nearly enough younger people to support them.

As far an underfunding you got to be kidding me as far as SS is concern as it is a large percent of the holders of the national debt and until a few years ago it always had taken in far more then is had given out.
 

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