mystictongue3

Rebate $300; Spend $200; Keep $100 Econ Growth in 2Q.

In HOT BUTTON TOPIC, LIFESTYLE, Politics on August 1, 2008 at UTC.22.31.

As the saying goes: “He who feels it.. knows..”

So with that thought in mind, If you ever want to know what’s going on in the economy just look at the “everyday person” (students, working class, middle-class families, elderly). You know the 60% of the U.S. population that makes less than $200,000- $250,000 annually. The working majority that bears the brunt of every economic ripple, wave and tide.

“Billions of dollars in tax rebates, the centerpiece of the government’s $168 billion stimulus package, spurred more spending in some areas by consumers, a major force shaping overall economic activity. Spending on furniture and household appliances went up, while people cut spending on cars.”

 You don’t need Cable News or Wall Street to tell you what you already know, what you already see & feel everyday. If you pay me to shop or spend I will, but I’m going to keep some for insurance. Rebate $300. Spend $200. Keep $100.

“Meanwhile, sales of U.S. exports grew at a 9.2 percent pace in the second quarter, up from a 5.1 percent growth rate in the first quarter.”

A paradox, due to a weak dollar U.S. exports picked up allowing foreign investors to acquire U.S. goods cheap bolstering the economy somewhat in the 2Q.

Reports today, say the end of 2007 was very slow, as far as, the usually expected holiday season boom and large ticket item purchases. Economists are calling it a contraction! Meaning things actually shrunk or diminished. That’s not news. No surprise there.

Here’s the surprise: The last time this happened was after 9/11. The last time the U.S. was in a recession. That’s the real reason Federal Reserve Chief Ben Bernake and Washington GOP politicians won’t call it a recession.

The rest of the “1st world” is growing, “2nd world” governments are making billions of dollars like Saudi Arabia. China is booming with redevelopment. Venezuela’s economy has grown exponentially. Gas is like 15 cents a gallon there. You can fill your tank with less than a dollar.

Still, we are inundated with stories of largesse and excess in the Entertainment industry, (political, movie, sporting, music etc). So, what’s real and what’s illusion? Unless, you are a “Star” then you’re probably feeling a “monetary tightness” due to higher prices. Don’t PLAY yourself!!

With everything in the outside world great if you believe the hype, although the inside world we live -in everyday its getting increasingly harder to ‘hold on’ to the basics.

The extras have been gone since the bubble burst in 06 ….and its been a struggle for a  “hot-minute” now. Though, now the banking & financial markets are finally feeling the strain (they caused), suddenly, its a world-crisis. As Mr. Obama has said; “Wall St. has caught up to Main St.”

 While the everyday person suffers in anguish at rising health care, food, energy and housing—making no more this year than last year its easy to see how there is a rise in home foreclosures. DO the math! If what you bring in remains constant for 6 months, but gas has risen almost a dollar in that time, yet the cost of milk, bread, corn* and rice has increased. Something has to give. Something is gonna come up short!

 Its easy to see how people can fall behind, and get sucked into the ‘economic downturn’! Shhh! Let’s not call it what every one already knows what it is: a Recession with obvious signs of inflation

Where is the protest? Where is the outcry for help? Where is the outrage for our country sabotaging our resources on “wasteful spending”? When will everyday people get fed up w/ corruption at their expense?

Latest polls say 76% of the populace thinks the economy has plummeted, while only 24%  thinks things are o.k. The fact that some think its fine is spurious, to say the least, then again their obviously not in the workin majority demographic. Meaning they don’t feel IT, so they don’t know!!

They must be in O.I.L. Exxon Mobil made $11.68 Billion during the 2Q.

Rebate $300. Spend $200. Keep $100. U.S. Econ 101 so easy a school kid can figure out its: HARDER TIMES AHEAD!!

 

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