Is our economy in trouble?

[AllyCat]

Currently, my fiance and I think the economy is about to take a header off a cliff. What with China and Russia discussing using pan-Asian and Euro currencies respectively, Cuba (small, I know) switching to the convertible peso, and the looming increase on the debt ceiling...are we headed for trouble?

I'm not an economist so I would appreciate opinions about this. The two of us seem to be the only ones amongst our friends and families who fear an inevitable catastrophe.

[Califooyah Operative]

1. im gonna go out on a limb and say yes. nt

[benburch]

3. Ut oh... I hope it's a strong limb...

Because I think so too. I think this economy is going to tank big time.

[AllyCat]

4. 'kay, that makes 3 of us...

anyone else?

[htuttle]

2. Nothing but smooth sailing ahead...

Straight down, smooth as silk.

[Virginian]

5. Ok, then what do we do?

Do convert our dollars to euros and stuff them under the matress?

[serryjw]

9. I have no money BUT

if I did I would put all of it in gold and silver. Paper money will not be worth the paper it's printed on after PEAK OIL!

[girl gone mad]

11. Buy gold. n/t

[Skittles]

6. of course it is in f***ing trouble

we've had four years of nothing but sheer incompetence and guess who got elected to fix it?

[AllyCat]

10. Hey, I agree...

...but whenever I talk to other Kerry supporters/Dems, they look at me like I've grown a third head and can't understand why we would be any worse off after the election.

I've heard it so often, I'm just trying to understand what I might have missed with all the horrible news reports in the midst of the headlines saying we're just ducky.

[Name removed]

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[LiberalAndProud]

8. Is the Pope Catholic?

We are headed for hard times.

[DirtyDog]

12. Glad to see so many optimist here,

The economy in about to go through the roof and it didn't matter who was elected. I am a Chef/Owner of a restaurant and my business is up 20% this past year. The tax relief has spurned the economy and much of the money that was on the sidelines is going to be invested in the stock market. Unless there is another terrorist event, good times are here again. Even though this may be bad for us Dem's, my pocket book will appreciate the results.

[AllyCat]

13. Well the $11/month I got from tax relief

is busy paying for health insurance that went up $75 a month (and I'm healthy!), higher fuel prices, and higher tuition that came with decreases in available financial aid.

Certainly isn't me going out to your or anyone else's restaurant.

There probably will be another terrorist event since we have not bothered to secure our borders...they are just rolling in as they please.

What, besides your business earnings leads you to believe we are headed for a boom? Investment in the stock market does not necessarily mean jobs.

[joanne]

14. "Tax relief" did NOTHING for the economy

but sure did lots for millionaires!

Did lots for the record deficit as well.

The US dollar is collapsing against other major currencies.

Cant see any of this being good news for the economy.

[DirtyDog]

16. Business lesson 101

When business owners like myself see more profits on the horizon, we try to find ways to get as much as possible. I am in the process of expanding the restaurant to accommodate more customers. Now, what do I have to do to get this done? Find a General Contractor to help me do the expansion, who in turn must HIRE people to do the work in a timely manner, thus creating jobs.

I am not some big corporate business here either. I have one restaurant with about 40 employees. My full time workers get health insurance which costs me $800 per person per month.

My industry is the first to see an economic slow down and also the first to see good times ahead. When people are optimistic, they go out to eat more and spend more freely than if they were worried about paying the bills and losing their house. Business is up my friend and I really didn't see any change to that no matter who won the White House.

[AllyCat]

17. I hope you are right and I am wrong..

...but I just see too many other indicators out there that say we are in trouble on other, much larger fronts.

[missouri dem]

22. Your story does not match mine.

I had 8 good years under Clinton and have had 4 bad years under w*.

My business is down 60% year to date. Gas prices, interest rates,

medical costs and insurance are going up and the dollar is going

down. Massive debt and the international trade imbalance point in

only one direction.

[mojavekid]

15. I agree that I feel "Spurned" by the Tax Relief...

and the water is just about up to MY neck....what do I know.

[mhr]

18. Unemployed 53 Months - Over 2,500 Resumes Out The Door

CV Includes:

BSEE
MBA
Honorably Discharged Naval Officer
Commercial Pilot
15+ years of professional work experience.

I know many like myself that have no prospects and are looking at homelessness and bankruptcy.

Seems you are living in fantasy land.

[girl gone mad]

19. A good economy would be great for us Dems..

if it were anything more than a pipe dream.

We're in trouble right now, and we've got even bigger problems ahead. Those tax breaks, which the vast majority of economists agree did little to stimulate our economy, came at cost to society in the form of massive deficits. There is no end in sight to our Iraq quagmire, and the price tag is growing. We've got an aging population, and the Bush idea for SS reform is to have the middle class pay for two SS systems at once for at least the next 20 years. Bush also has an idea to further shift the tax burden onto the middle class through a national sales tax.

We've got record personal debt, bankruptcies and foreclosures, a looming real estate crash and soaring health care and college costs. Oil will likely never return to previous levels, leaving the average family to pay at least $500 more per year on gas. Real wages are falling and the job market remains weak. Foreign consumers are shying away from American products at alarming rates because of international anger at US policies.

There just isn't a lot of good news foir the middle class on the horizon.

[Name removed]

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[missouri dem]

23. Bingo.

[DirtyDog]

25. What is a Freeper?

As you can see by my post count I am new to this forum. I am a business person, a realist and a lifelong Democrat. The thread was about the economy and I was relaying my experience and my opinion of the future. Got a problem with that!

[Hello_Kitty]

20. What demographic does your restaurant serve?

Because if it's a pricey restaurant, then your clientele will be relatively unaffected by an economic downturn. The 'have-nots' in our country can barely afford to eat, much less eat out. Can your employees afford to eat at your restaurant for full price?

[DirtyDog]

24. Working class Customers

Mostly farmers and middle class factory workers. It is located in rural Wisconsin out in the country. My customers are by no means rich but are hard working people. The avarage meal cost $12.

The "good economy is bad for us Dems" is a politacal statement. People vote with their wallet mostly, if the economy is humming in 08 we have no chance.

[Name removed]

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[leftofthedial]

26. Deeeeeeeeeeeeeeeeeeeeeeeeep shit

Deeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeep

[Name removed]

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[Bleacher Creature]

28. George Bush says that things are going well.

Shouldn't we just believe him???


:beer::beer::beer::beer:

[Anarcho-Socialist]

30. We're heading to a late-1980s/early 90s style recession n/t