The Associated Press
Sure, people are working, but is growth halting?
Featured
Topic |
Posted 37 weeks 6 days ago
Are Americans better off now than they were four years ago? How about 30?
If history is a reliable guide, the recession of 2008 is now unavoidable. Or is it? Trouble is, history is often not the most reliable of guides. At least, not lately.
Yet the dismal jobs report released last week showed overall employment to be lower than it was three months ago. Every time such a slump has occurred since the early 1970s, a recession has followed -- or already been under way.
So, the question is, is the U.S. economy tanking? Has it been tanking all along? Have the economic successes of previous years been illusory? Are Americans really better off than they were four years ago? Or is the economic picture worse than we think?
Thoughts
1975
Submitted on March 13th, 2008 by Anonymousbetter quality of life in 1975?
Nostalgia aside, who really wants to go back to a time before cell phones, personal computers and microwave ovens?
We had fewer cars that polluted a whole lot more.
We have become a nation of whiners.
What's the answer?
Submitted on March 11th, 2008 by Ben"I think globalization has been... good for American consumers but bad for American workers."
Aren't they often one and the same? How do resolve this contradiction?
A few years ago, I spoke to some economists about the disappearance of American manufacturing. They made the point that U.S. is still as strong as ever in manufacturing -- maybe even stronger. The difference is instead of making clothing or producing steel, we're making high-tech equipment and pharmaceuticals. That's a simplification, but not overly so. But do you notice the chief difference between the types of manufacturing we do today versus a generation ago? One requires less-than-skilled labor, the other requires a highly educated workforce.
Whats the answer?
Submitted on March 11th, 2008 by AnonymousI don't believe the average American is doing as well today as in the past but what’s the answer? Republicans are in the pockets of big business it seems while the Democrats think we can "tax" our selves to prosperity never really looking at the real problem.
Ultimately I think globalization has been good for American business, good for American consumers but bad for American workers.
More people might own homes
Submitted on March 11th, 2008 by oldgoatMore people might own homes that ever before, but we also have a larger population and the mess with the foreclsures haven't settled yet either. As far as all the toys that we have now it also ties in with why the US consumer is also in record debt including the credit card.
The average American might be doing well as long as the credit holds up but at some time the bill will come due. With the credit becoming harder to get, interest on the cards going up easier, gas and food prices going up and the job situation getting worse I don't believe that the average American is better off.