In November, the US economy will be...
- ...in much better shape than today. (4%, 7 Votes)
- ...in slightly better shape than today. (27%, 45 Votes)
- ...about the same as today. (29%, 48 Votes)
- ...in slightly worse shape than today. (21%, 35 Votes)
- ...in much worse shape than today. (19%, 32 Votes)
Total Voters: 167
This poll was active 06.17.2012 through 06.23.2012
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It would be interesting to understand what metric folks utilize to answer this question. GDP might seem to be the fairest measure, but if you can have growing GDP with rising unemployment, a decreasing standard of living, and increased wealth accumulation by the top 1%, how meaningful is GDP?
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RE: Blurtman @ 1 – For me it’s unemployment*. GDP is a decent measure but the distribution of it means it’s not really a meaningful to most people. Jobs matter more.
* I generally look at U-6, not U-3. People giving up or working part time side jobs aren’t really a good thing.
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It surprises me when people begin looking at statistics rather than reality.
The only way the economy will improve is if people regain the ability to create wealth for themselves.
If you work a job, and are saving in any financial instrument, you may well be as screwed as the baby boomers are today. People worked their entire lives to retire, now the time is here, and all they can be sure of is uncertainty.
It will depend on the individual’s ability to create, and hold wealth.
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I measure it by how many emergency calls I get from family members who need money. :)
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Over the medium-long term, I think the economic outlook is pretty bad.
But between now and November, we may see a few months that are perceived as positive.
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RE: ARDELL @ 4 –
That hits the nail on the head!
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By David Losh @ 3:
Hey! Some of us resemble that remark … 8^)) …
Check your math, though. It’ll be another 20 years before all the boomer generation has reached full retirement age.
–Mark
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I say about the same through the next election. But after the U.S. and German elections are finalized, things will probably take a turn for the worse.
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I actually think things will be the same to slightly better, at least as measured by .gov stats for the next couple of years. They will keep the ponzi alive a bit longer, mostly through an influx of foreign money as the rest of the world seeks relative stability and a shot at capital preservation. Ultimately though we are still looking at some nasty times to come.
If we stop the spending increases now there is still a chance to inflate/work our way out of the current mess, reducing relative debt loads over the next decade or so. The math is tight but feasible. But it requires a real spending freeze- not just magic accounting- and has to happen soon. Admittedly the chance of that is pretty small- it would cause some pain and a great deal of political unease. Instead we are politically more likely to opt for a greater amount of pain further down the road. The future is always so vague and remote, at least until it eventually arrives to smack one upside the head. We’ll get a preview by watching much of the rest of the industrialized world collapse.
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By Blurtman @ 1:
We should use political spin–that way everyone can be right!
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RE: Blurtman @ 1 –
Yes Blurtman
I’d add doubling of grocery store prices in the last couple years, is that a good GDP up measure, especially when food is eliminated from the COLA calculation.
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not sure about all of you stiffs but I will be RICH RICH RICH and I will be having sexy servants wiping perspiration from beneath my breast folds.
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