Our BOOMING Economy

[BushRocks]

I figured I'd update you folks with a little kiss from the GOP.

Addressing the press, President George W. Bush stands with Ed Lazear of the Council of Economic Advisors, left, and Al Hubbard of the National Economic Council, in the Rose Garden Friday, April 28, 2006. "I'm joined with my two top White House economic advisors. The reason why is because we've had some very positive economic news today: the Commerce Department announced that our economy grew at an impressive 4.8 percent annual rate in the first quarter of this year. That's the fastest rate since 2003," said President Bush. "This rapid growth is another sign that our economy is on a fast track." White House photo by Eric Draper The good news comes on the heels of two other important economic indicators reported earlier this week: new home sales surged forward by nearly 14 percent last month; consumer confidence reached its highest level since May of 2002. This confidence is largely driven by the many jobs being created in our country -- 5.1 million since August of 2003."

-President George W. Bush 4/28/06

I thought I'd bring the good news in our President's own words first. I'm gonna rattle off some stats from government entities and other organizations just to show you how good our economy actually is. (Courtesy of the GOP)

-In The Past Year, The Number Of First-Time Jobless Claims Has Fallen 6.5% While The Number Of Continuing Claims Is Down 8%. ("Initial Jobless Claims Rise 11,000 To 315,000," MarketWatch, 4/27/06)

-Business Investment Increased 14.3%, The Fastest Pace In 6 Years, While Consumer Spending Grew 5.5%, The Fastest Pace In 3 Years. ("U.S. GDP Rises 4.8% In First Quarter," MarketWatch, 4/28/06)

-The Economy Has Grown For 18 Straight Quarters. (Bureau Of Economic Analysis, www.bea.gov, Accessed 4/28/06)

-The Number Of Hispanic-Owned Businesses Increased 31%, Three Times The National Rate. ("Black-Owned Businesses Grow At Four Times The National Rate For All Businesses," The Associated Press, 4/18/06)

-Jobs Were Created In 48 States Between Mar. 2005 And Mar. 2006, While Jobless Rates Were Down In 43 States. (Bureau Of Labor Statistics, Press Release, 4/21/06)

-State And Local Government Borrowing Is Down 29% In The First 3 Months Of 2006 From Last Year, The First Time In 4 Years Borrowing Has Fallen. ("States' New Debt Down For First Time Since '02," USA Today, 4/18/06)

-State And Local Tax Receipts Increased 10.2% In 2005. ("States' New Debt Down For First Time Since '02," USA Today, 4/18/06)

-The Conference Board's Index Of Consumer Confidence Increased 2.1 Points To 109.6 In April. ("U.S. Confidence Hits 4-Yr High In April," MarketWatch, 4/25/06)

-The Index Was At The Highest Level Since May 2002. ("U.S. April Consumer Confidence Unexpectedly Rises," Bloomberg, 4/25/06)

-Sales Of New Homes Increased 13.8% In March To The Highest Level This Year. ("Stunning 13.8% Increase In New Home Sales," MarketWatch, 4/26/06)

-Orders For Durable Goods Increased 6.1% In March, The Best Increase Since May 2005 And Far Exceeding Expectations. ("Durable Goods Orders Soar 6.1% In March," MarketWatch, 4/26/06)

Face it, we have a fantastic economy, despite high energy prices and natural disasters and war, we are expanding, and that truly shows the strength of the U.S. economy. Thank you President Bush for the tax cuts, keep pushing to make them permanent.


"Once again, President Bush is demonstrating his strong leadership ability. This stimulus package is just the type of measure this economy needs to get back on track. Just upon hearing about it the markets have reacted wildly in response. Imagine how it'll be when it's enacted."
(Horace Cooper, Centre for New Black Leadership)

[BushRocks]

Boom Boom Boom!

[Devil_rules_in_extremes]

Just being honest... I haven't gained one single dime from this so-called economic boom...

The only thing that is doing well for me is my investments in Gold & Silver... Im glad I jumped on that gravy train... OH YEAH! :cool:

[Bumblebee]

BR, thanks for the uplifting thread. Everything is so bleak lately, it's good to hear the good news.

I like thinking positive all the time, no use worrying so much, it won't help.

[FKLBRLS]

The point too is that the liberal idea that the economy is terrible and we are all going to be out on the streets and we are just losing money out the ass and we have to sell off our houses to pay for everything is totally BS. As a whole the economy has benefitted.

[BushRocks]

President Bush promotes an ownership society as he calls it. That's another reason why the libs hate him so much. That is the last thing they want.

[Bumblebee]

The point too is that the liberal idea that the economy is terrible and we are all going to be out on the streets and we are just losing money out the ass and we have to sell off our houses to pay for everything is totally BS. As a whole the economy has benefitted.
It will get worse because of the coming elections. One of the reasons they are going to say anything and do everything, even if it's all made up, is that they want to impeach Bush.

[Devil_rules_in_extremes]

You all forget one thing. The value of the Dollar. Its going down the crapper. Its not worth anything. Our economy is not "Great" like you people say. Sorry to shatter your pristine image of our economy, but its a farce. The dollar ain't worth squat. Thats why Gold and Silver are at 25 year highs in the commodity markets.

NY gold scales new 25-year high, silver shines

http://news.yahoo.com/s/nm/20060428/bs_nm/markets_silver_comex_dc_1


Gold futures surged to a new 25-year high on a falling dollar and worries over Iran's atomic program on Friday, and the rally spilled over to silver, which was already firmer after a launch of a new silver-backed fund.

Strong oil and base metals prices and uncertainty over the U.S. economy fueled waves of aggressive investor buying across the precious metals group, dealers said.

"I think gold has kind of taken on a leadership role," Steve Platt, a broker with Archer Financials in Chicago, said, adding that the yellow metal also was benefiting from a weak dollar.


The dollar slumped to an 11-month low against the euro after a mixed bag of U.S. data did little to overturn the market's view that the Federal Reserve is nearing a pause in its dollar-boosting interest rate campaign.

Thats why middle eastern countries like Syria, Iraq, and Iran have switched their currencies from Dollars to Euros.

The dollar aint worth anything folks! And it will catch up with our economy here in a couple to few years.

Im just glad I have investments in Gold & Silver.

[BushRocks]

Just keep doubting...Of course the value of the dollar will go down when you have an entire continent with one single currency!

[Wadi66]

BR? Your remark makes absolutely no sense. What does a whole continent having one currency have to do with economics?

[BushRocks]

One of the reasons why they created the Euro was to combat the U.S. dollar.

[Devil_rules_in_extremes]

UMMMMMM... No... Obviously monetary policy isn't your specialty.

The value of the dollar is decreasing because of the "Fractional" banking system that the FED RESERVE uses...

Our currency IS NOT backed up by Gold or Silver... The dollar bill is nothing more than a piece of paper with ink on it. It means nothing...

[Wadi66]

Soooo? The point that DRIE is getting at is that the value of the dollar is dropping. Our nation is so heavily in debt that other countries are doubting the dollar's ability to stay strong. Or as someone once said, a dog can't walk on its hind legs forever. Couple that with far too many countries dumping U.S. dollars in favor of Euros, weakens it that much more.

[Wadi66]

If the dollar isn't backed by Gold as it once was, what is it backed by? The answer is... you and me and our ability to work and produce. Where is all the manufacturing? It isn't here. We don't enjoy the kind of wages needed to spur the economy along or to create manufacturing on a national level. Wages as with everything else is based on supply and demand. When you have more people to draw from the wages drop or cease to rise. Yet the cost of living continues to go up. Something has to go down. The only thing that CAN go down is our standard of living.

[Devil_rules_in_extremes]

Soooo? The point that DRIE is getting at is that the value of the dollar is dropping. Our nation is so heavily in debt that other countries are doubting the dollar's ability to stay strong. Or as someone once said, a dog can't walk on its hind legs forever. Couple that with far too many countries dumping U.S. dollars in favor of Euros, weakens it that much more.

AND THUS, it leaves us citizens with dollar bills SCREWED!

THANK-YOU D.C. for getting us in this situatuion...

Your EXACTLY right Wadi... How can our economy be good if the very money that it runs on is not worth anything?

Its just a simple fact, the Dollar bill is going to default, and your going to be burning those Dollar bills in your fire place to help keep you warm, because they won't be worth anything, THE DOLLAR WILL HAVE NO PURCHASING POWER!

Hell, it barely has any purchasing power now... I pay $2 for a loaf of bread!

In the 1950's a loaf of bread was a dime... OOOO HOW THE TIMES HAVE CHANGED!

And the reason why that happens boys and girls, is because the dollar is worth nothing.

[Bumblebee]

Well there goes BR's happy thread that I so enjoyed. :mad:

[Devil_rules_in_extremes]

Well there goes BR's happy thread that I so enjoyed. :mad:

Sorry to ruin the pristine image Bumblebee... But you must prepare...

Invest in some Gold & Silver. And always make sure you have enough food in the house when shit hits the fan...

[Johnny]

didn't the economy grow and grow rapidly until it crashed right before the Depression in the 30's? History repeats itself...

[BushRocks]

Well vote for a Democrat to raise your taxes if you want to repeat history!! Then you'll get a depression!

[Wadi66]

Well vote for a Democrat to raise your taxes if you want to repeat history!! Then you'll get a depression!Unfortunately BR, the country just may be electing a democrat in 08. That raises my panic level about 100 notches.

[Wadi66]

Well there goes BR's happy thread that I so enjoyed. :mad:Gee Bee, now I feel bad. Sorry to spoil things for you.

[Oi_Ve]

What good news there is in the economy isn't going to be good for very long

Medicare’s trustees calculated that we would need to deposit $61.6 trillion (that's trillion with a "t" folks!) in an interest-bearing account to cover all of Medicare's future deficits.

And for every year Congress sits on its ass, Social Security reform costs and extra $600 billion to implement.

Medicare will wither and die in 10-15 years.

In the next 12 years Social Security is going to start running deficits.

In the next 25 years that deficit is going to be too large to handle.

And when those things happen, expect to see some REALLY bad effects on the economy.

I'll most likely be dead in the next 25 years, so I'm not too worried (at least for me...now my grandson and daughter-in-law are a different story).

The same cannot be said for you guys.

So stop your celebrating, cause there's A LOT of work left to do.

[Wadi66]

So stop your celebrating, cause there's A LOT of work left to do.Celebrating should be replaced with calulating. You're going to be faced with a monster problem. What are you going to do to lessen the impact it will have on YOUR life?