US economy shrank 0.1% - first time in 3 years.

[Engineer]

mainly on the largest US defense spending cut in 40 years and lower exports. Wait...cutting spending hurts the economy?:whiste:

http://finance.yahoo.com/news/us-economy-shrinks-0-1-133115372.html

 

[CaptainGoodnight]

mainly on the largest US defense spending cut in 40 years and lower exports. Wait...cutting spending hurts the economy?:whiste:

http://finance.yahoo.com/news/us-economy-shrinks-0-1-133115372.html

Wait? Since when have we done any spending cuts? Or at least an accounting shuffle. Or at least dropping federal spending from completely unsustainable levels to your average unsustainable levels.

 

[Doppel]

Well this isn't very good is it.

 

[Engineer]

Wait? Since when have we done any spending cuts? Or at least an accounting shuffle. Or at least dropping federal spending from completely unsustainable levels to your average unsustainable levels.

I'm assuming this is from winding down Iraq and Afghanistan wars. Just wait until Congress can't reach an agreement in about a month or so and the 10% spending cuts kick in.

 

[Genx87]

Well I guess we should extend those wars to prop up this fragile economy.

 

[Texashiker]

mainly on the largest US defense spending cut in 40 years and lower exports. Wait...cutting spending hurts the economy?:whiste:

Seems the economy is supported by two factors, housing and government spending.

Neither of which are long term sustainable options. The price of housing can not double and triple every few years without wages doing the same.

Out of control Government tax and spend programs can not last forever.

 

[nehalem256]

I'm assuming this is from winding down Iraq and Afghanistan wars. Just wait until Congress can't reach an agreement in about a month or so and the 10% spending cuts kick in.

So wait a minute Bush's wars that destroyed the economy were actually propping it up?

 

[Engineer]

Out of control Government tax and spend programs can not last forever.

Spending maybe....but taxes are the lowest in nearly 60 years. If you mean our out of control cut tax and increase spending programs, then I might agree.

 

[Engineer]

So wait a minute Bush's wars that destroyed the economy were actually propping it up?

Just like any other deficit spending, propped the economy up at the expense of the deficit. The deficit is bad, right?

 

[sm625]

The economy has been contracting for 5 years. Illusory growth has come from printing money and giving it to the richest 5%, plus a few welfare token table scraps to placate the masses. But that sort of crap only works while the amount of printing is expanding. As soon as you stop accelerating the printing, it begins to fail. It burns right through the economy at an astonishing pace. It has totally eviscerated this economy over the last 4 years. But most of that raping has been covered up with inflation and a media that has totally lied and obfuscated the crimes.

 

[fskimospy]

Well I guess we should extend those wars to prop up this fragile economy.

Or spend that money on something more productive, but yes government spending needs to increase.

 

[Texashiker]

Spending maybe....but taxes are the lowest in nearly 60 years. If you mean our out of control cut tax and increase spending programs, then I might agree.

We can not have out of control spending without a proper tax base.

Allowing companies like google and exxon to have a lower tax burden then the general population does not work.

The truth is, and you know this, we need our jobs back from china. We need our steel mills back, we need to build our own computers, build our own truck, motors, transmissions,,,,.

As long as companies build in china there will never be a long term recovery. We will see little small recoveries. In the long term wages will continue to slip, and the standard of living will continue to fall.

How can housing double and triple in price without wages doing the same? When one growth in one part of the economy outpaces other parts, sooner or later the system will crash.

Have you seen the price of bacon lately? Basic essentials are outpacing the average working person earns.

We need an economy based on how much we can produce, and not how much we can spend.

The economy has been contracting for 5 years.

The economy has been contracting since the 1990s.

In all honestly, it started in the 1980s when several of our shipyard closed and 10s of thousands were laid off. The closing of those shipyards dumped thousands of skilled steel workers on the market. Wages plummeted, and have not recovered.

 

[Engineer]

The truth is, and you know this, we need our jobs back from china. We need our steel mills back, we need to build our own computers, build our own truck, motors, transmissions,,,,.

As long as companies build in china there will never be a long term recovery. We will see little small recoveries. In the long term wages will continue to slip, and the standard of living will continue to fall.

Preaching to the choir on this one.

 

[Nintendesert]

We need to penalize companies that ship jobs overseas. We need to go after their stockholders too. Raise taxes across the board for ownership of these kinds of predatory companies. I want to see them bleed for what they've done to the American working class.

 

[Ausm]

mainly on the largest US defense spending cut in 40 years and lower exports. Wait...cutting spending hurts the economy?:whiste:

http://finance.yahoo.com/news/us-economy-shrinks-0-1-133115372.html

Well in light of your findings, I think we should cut defense by 50%.

 

[s0me0nesmind1]

We can not have out of control spending without a proper tax base.

Allowing companies like google and exxon to have a lower tax burden then the general population does not work.

The truth is, and you know this, we need our jobs back from china. We need our steel mills back, we need to build our own computers, build our own truck, motors, transmissions,,,,.

As long as companies build in china there will never be a long term recovery. We will see little small recoveries. In the long term wages will continue to slip, and the standard of living will continue to fall.

How can housing double and triple in price without wages doing the same? When one growth in one part of the economy outpaces other parts, sooner or later the system will crash.

Have you seen the price of bacon lately? Basic essentials are outpacing the average working person earns.

We need an economy based on how much we can produce, and not how much we can spend.



The economy has been contracting since the 1990s.

In all honestly, it started in the 1980s when several of our shipyard closed and 10s of thousands were laid off. The closing of those shipyards dumped thousands of skilled steel workers on the market. Wages plummeted, and have not recovered.

We need to penalize companies that ship jobs overseas. We need to go after their stockholders too. Raise taxes across the board for ownership of these kinds of predatory companies. I want to see them bleed for what they've done to the American working class.

Whatever you do - Be it taxing more for outsourcing jobs - or giving tax breaks for bringing back in jobs - how do you NOT expect those increase in costs to not be put back on the consumer shoulders when they buy the product??

Then we will be back to square 1 with demanding higher wages for everything because everything costs more? Seriously, I agree with the whole "preaching to the choir" thing, but I just don't see this occurring that easily.

 

[Ausm]

We can not have out of control spending without a proper tax base.

Allowing companies like google and exxon to have a lower tax burden then the general population does not work.

The truth is, and you know this, we need our jobs back from china. We need our steel mills back, we need to build our own computers, build our own truck, motors, transmissions,,,,.

As long as companies build in china there will never be a long term recovery. We will see little small recoveries. In the long term wages will continue to slip, and the standard of living will continue to fall.

How can housing double and triple in price without wages doing the same? When one growth in one part of the economy outpaces other parts, sooner or later the system will crash.

Have you seen the price of bacon lately? Basic essentials are outpacing the average working person earns.

We need an economy based on how much we can produce, and not how much we can spend.



The economy has been contracting since the 1990s.

In all honestly, it started in the 1980s when several of our shipyard closed and 10s of thousands were laid off. The closing of those shipyards dumped thousands of skilled steel workers on the market. Wages plummeted, and have not recovered.

How can we with the Rights Jihad on Unions?

 

[Jaskalas]

Just like any other deficit spending, propped the economy up at the expense of the deficit. The deficit is bad, right?

Temporary deficits expand the economy, but if you institutionalize them the way GWB and Obama have - then you're !@#ed.

 

[Texashiker]

Whatever you do - Be it taxing more for outsourcing jobs - or giving tax breaks for bringing back in jobs - how do you NOT expect those increase in costs to not be put back on the consumer shoulders when they buy the product??

Then we will be back to square 1 with demanding higher wages for everything because everything costs more? Seriously, I agree with the whole "preaching to the choir" thing, but I just don't see this occurring that easily.

Its simply amazing that we as a nation existed for a couple of hundred years by having factories and paying a liveable wage.

The above theory is that if something is made here, then its going to cost more. Ok? And?

How much money is floating around in the US? Where is that money concentrated? In the upper 1%.

If wages increase, and the amount of money in circulation does not increase, then we have an equal distribution of wealth. That 1% is then broken down to 5%, 10%,,,, and so on.

So what if wages go up? There is plenty of money out there for everyone.

How can we with the Rights Jihad on Unions?

Unions can be beneficial.

 

[Ausm]

Its simply amazing that we as a nation existed for a couple of hundred years by having factories and paying a liveable wage.

The above theory is that if something is made here, then its going to cost more. Ok? And?

How much money is floating around in the US? Where is that money concentrated? In the upper 1%.

If wages increase, and the amount of money in circulation does not increase, then we have an equal distribution of wealth. That 1% is then broken down to 5%, 10%,,,, and so on.

So what if wages go up? There is plenty of money out there for everyone.

Livable wage and peon factory work doesn't compute.

 

[Texashiker]

Livable wage and peon factory work doesn't compute.

When was the last time you worked in a factory?

The last factory I worked in was an ASME section 8 heat exchanger / pressure vessel shop in 2004 - 2005.

 

[Engineer]

Livable wage and peon factory work doesn't compute.

Not been around any factories, have you?

 

[Nintendesert]

Livable wage and peon factory work doesn't compute.

You don't belong to the right unions.

 

[Ausm]

When was the last time you worked in a factory?

The last factory I worked in was a heat exchanger / pressure vessel shop, ASME section 8 in 2004 - 2005.

I work in the Steel/Plastics industry and typical starting wage for factory workers with no skill in my area is around 7.50 which caps out around 9 dollars/hour. Oh you do get an extra .15 cents for 2nd and .30 cents for 3rd shift.

 

[Ausm]

Not been around any factories, have you?

Only for 30+ years.....