Economic Sentiment Poll

[5thHorseMan]

the current downturn is the result of the US moving from an economy based on production to one based on consumption.

With consumption it is possible to earn money and lots of it very rapidly, but it's risky. Handing out loans to consumers, and then collateralize that debt as a commodity is next to impossible to reliably mangae and even more difficult to predict it's risk of failure.

With a production based system, you have to invest significantly in your workforce, their training, health, and standard of living, without immediate returns. However this debt is consolidated and more easily managed, with more predictable risks.

Historically the US was strongest, economically, politically and militarily when money was earned by making and selling a physical product. Now however the majority of what we consume is imported, incidentally the jobs which used to be our bread and butter, have been marginalized. Income has grown, but cost of living has increased more. This is because the jobs which are now our mainstay are retail, and service sector jobs, jobs that don't require much training, come with fewer benefits, and pay less.

[jonquest]

if the government gets out of the way, recovery will come quicker, but i don't see them getting out of the way.

[GoldenBoy812]

Although a couple more legs down are to be expected in the coming months, there is strong possibility we have already reached the bottom in the equity and credit markets.

Further lows in both residential and commercial real estate could be on the horizon, as the total amount of jobless claims continues to rise six figures a month.

[zerodownhm]

Polls like this should be repeated periodically, like 6 months or yearly, to see changes in people's opinion on a subject over time.

How geeky did that sound? Sounds interesting.

[aztlaxpuroazul]

I agree with you, Jake on having an outdated system thats oppressive and manipulative in the interests of an "elite" few...Im afraid, in my opinion, that we're seeing smoke and mirrors and later on the rubber will REALLY hit the road, they must realize not all of us are subservient sheep...and they will.

[Islandborn]

Speaking from here in Houston Galveston area, things never were too bad. I knew one other family who were foreclosed on but they were financially illiterate and wasteful spenders. Neither had amazing jobs and they both drove 50 thousand dollar cars so they got what they deserved. My wife works for a subcontractor of Nasa in Clear Lake and they laid of a few but most got new jobs.

Unemployment nationwide during the actual Great Depression was around 30% nationwide. We barely brushed 10% this time.

[zenblaster]

I am very concerned, the jobs situation is ugly and not looking good long term. This country thrives on small business, the hairdresser,contractor, small restaurant owner making and spending money, This admin. is putting terrible pressure on small biz and it's going to get worse when we have to pay for this healthcare boondogle. Many millions had their retirement and only real savings tied up in their houses, now they are upside down and making mortgage payments just too keep a roof over their heads.
Economically, the worlds rush to gold (and away from the dollar) make our paychecks worth even less when we purchase comodities. I'm afraid I am very bearish on this economy, we are in for a rough ride I am afraid.

[Dutch Pimp]

run out and buy more chinese crap on credit

[smello]

run out and buy more chinese crap on credit

LOL

[THContent]

Let's put things in to perspective.

Since the day I was born, someday in 1983...

Prices a.k.a inflation, have always risen steadily over time. Same with fuel prices, etc. Keeping these important factors in mind, lets talk about how often you get a raise at work, and compare that to inflation.

Slowly but surely, you eventually won't be able to take care of yourself, people will need to start shacking up just to pay rent and get by.

Now let's think about the last time gas prices, or prices on anything has gone down... I don't believe it ever has... maybe a few cents down one day, then 5 up a few days later.

No matter what, they will find more innovative ways to get more money out of you, and in the end all your left with is empty pockets. This whole world has gone to shit because everyone want's the same thing, more money. Money = power, those with Money = those with power. And we all know what people with power want, more power. Eventually there won't be anything left for anyone, then what will happen? Chaos.