News Economy getting worse?!!?!?

Economy getting worse?!!?!?

http://money.cnn.com/2008/05/21/news/economy/fed_minutes/index.htm?cnn=yes

So with this news what do you think the goverment should do if anything at all? What have you done in your daily life to cut back on costs if anything? Do you think we should have another tax rebate?

No.

I'm no economist...but that money has to come from somewhere.

what i have learned from my 4 econ classes in college is that the economy is cyclical. we just need to ride it out... the way our economy is set up it will eventually take care of itself.

of course but how long do you think it will last?

worrying about the inevitable is futile

Economy getting worse?!!?!?

I agree with the Ride It Out principle; kinda like a snowball that's already rolling down hill. Can't stop it just get out of the way and ride out the aftermath.
No extra tax cut/break will save us now.

Of course, back in the day of the Great Depression, the government started helping out and was successful. The question I have now is how will the government help us this time without hurting itself more.

This is true... As far as I know, it ends up in the DEFICIT. Not that the war has helped bring our deficit so high anyway...


Im no economist either but IMHO the best thing to do is pull ourselves out of the war. That will help stop our deficit bill from rising any more than it already has. I think if we owe less, people will invest more, thus bringing the economy back up.

The war will not stop the deficit. It will slow the accumulation of debt, but it will not stop.

Thing is, the economy is only really bad for those who were already at the brink of financial ruin anyway. Most came up riding the unstable wave of a booming subprime real estate market. When that collapsed, it spread out like a wave. Everyone from the borrowers to the lenders to the guys on Wall Street who were horsetrading these junk debts are now in the poor house. That leads to a reduction in consumer goods purchases as all these folks who were sucking down Dom and caviar and such are now in the soup line, so to speak. Many of them were too shortsighted to see that their sudden good fortune would come to a screeching halt...and they didn't save a dime for it.

I'm no where near hurting from all of this mess. Granted, it pisses me off that I'm buying $4.00 a gallon gas and $2.00 a dozen eggs....but what can i really do? Drill for oil in my backyard.....start my own chicken farm? lol! The economy will eventually turn, and I think we'll all have a better idea about when that'll happen after November. The newly elected really has very little to do with it, but folks' perception changes when the political scene changes, even if nothing tangible is different.

hahaha i just hope it won't be another Depression, i don't want to sell my car for food

Well now that you mention it as far as government help. First off they could free up some of the oil reserve which would lower the gas prices, back offf those goverment taxes on the gas during the peak travel season. Secondly cut back on some of their own fruitless spending, and spend that saved money on infrastructure projects(Roads, bridges,low cost housing) much needed repairs & much needed jobs would certainly stimulate the economy.
But then who am I ; I'm just a Happy go lucky Toyota owner LOL

government is full of crap all they want is money for them self...this is how the rich is getting rich and the poor is getting poor.

Then how do you explain the "poor" paying NO taxes and the "rich" (top 2-3% of earners) paying roughly half (IF NOT MORE) of the tax load? You're just spitting out empty rhetoric.

ShallowPockets: My bad for saying 'stop our deficit from rising.' I know it wouldnt stop the deficit but slow it down.

Since someone mentioned the elections, I think it will change the economy in a sense that if a democrat were to win, surely taxes will be raised (at least thats what I think, but what do I know). Also, if a democrat wins, the war will most likely come to a halt sometime soon. Stopping the war + higher taxes = helping the economy is what I think.

guess he was absent the day they taught progressive tax system. lol

this wouldn't be a problem if the white house was run by Democratics...

i have yet to see a Democratic president mess up the economy

I agree with you on that. Since the recent inflation stems from high gas prices, the govenment stepping in to help lower gas prices is the first step towards recovery. And while that is happening we should begin building a petrolium-free infrastructure to end our dependancy on non-renewable resources.

I will go research that out... All I know is that Bubba did a good job of balancing the budget. IDK if that is true with the others.

Horse Power

The government is greedy. All these senators and upper officials has to have their big expensive offices with their crazy spending on retarded things like the most expensive pieces of office equipment.

I dont think the gov will ever step in an lower the gas prices.. Cause guess what if they do that then they are losing and the state is losing all the tax you and me pay for at the pump. You pay more in taxes than you do for the gas it self. I have been a government employee for the last 7 years being in the military and now as a civilian. On a military base we dont pay taxes for items that we buy at the commisary (grocery store) or the NEX (some what of a mini mall). We still pay all the taxes for gas. It generally is about 5 to 10 cents cheaper than it is at regular stations. Now it is exactly the same as other stations. I dont see the government giving that up any time soon. They always talk about how much the oil companies make but what does the government make off it too? I would like to see some figures on that.

I was being sarcastic. Last time i checked there were over 1.00+ in taxes alone that taxes made up at the time half of what you were paying at the pump. I dont have the exact figures anymore but that was about a year ago. So i can only imagine that it has gone up from there.

That is why I bought my Corolla I need that great gas mileage.

if you need great gas mileage... prius. still a toyota

or for half the amount of money get a 5spd yaris (still a toyota) and you can still get high mpg and the money you save, use that on gas. by the time you're finished using that money on gas, you'll see a new more efficient car.

15-16 running the 33's.

I'm getting about 35-36 mpg.

I think that topic is good for another thread.


ON THE TOPIC:
I washed my gov't proff's cayenne turbo today and asked him about the economy. His response was the same as mburket: "ride it out"

He said as long as I have a job, I'm fine.