More Facts ()
quote: Originally posted by curious
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Facts
Unemployment is higher and there are fewer jobs. 43 percent of those who lost jobs from 2001-2003 are still unemployed.
(Fact, welcome to the innovation economy, the steel industry is not cyclical and thus, if you are still unemployed after 4 years, perhaps it is time to consider a career change… read Steve Forbs Economic Outlook)(Wealth creation is on the rise, with any economic transition, there are those that are left behind due to an inability to catch up with the sectors of job creation, welcome to capitalism)
Gasoline costs twice as much as it did under Clinton.
(In CA, we have the highest fuel cost of the 48 contagious states, it is currently at 1.35x under Clinton’s last year in office)
The trade deficit and national deficit are soaring.
(As a % of GDP, this is falling – less cost of war to keep u free)
Private debt is increasing also. (Lowest interest rates in 25 years, money is inexpensive, a good economic indicator in growing dept to feed investment)
Fewer Americans have health care and more live in poverty as defined by government statistics.
(Again, with poverty this is not true in terms of %, only actual head count)(healthcare, yes this is indeed an issue and is being driven by costs, an issue for competitive/regulation)
The stock market is still struggling to get back to where it was four years ago.
(Can anyone seriously suggest that the correction was not warranted, or that today’s valuations are not more inline with reality than at ant time during the past 10 years, again healthy and on the move)
More and more U.S. jobs are being outsourced to cheap foreign labor.
(Again, study your economics, this is a very socialistic argument, lets look at this for a moment, the job sectors being effected by this are typically marginalized positions which had little or no future in a global market space such as the services and software sectors, the end benefit is actually very positive for the US economy; we outsource to Canada, Mexico and India as hot spots, in turn, their new found wealth drives US exports to these new markets (Chevy, Coke, Starbucks, Levis, etc..) which it turn are outsourcing to other global emerging markets, in the end, the winner is the American investor and shareholder, who in turn invests in new emerging markets thereby creating job growth with a focus on innovation.)
I don't doubt that you are doing better but you are not the whole world. The average American is worse off than in 2000. (speculation on your part, I suggest you reconsider supporting your local worker’s union, they are forcing your employer to be less that competitive in a global economy, and thus further driving outsourcing or putting your firm out of business, while this may be good for me as a long term smart investor, it may not be good if your job is in the steel mill.)
(Put down the paper, use your head, or better yet, take a class in global economics.)
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