What is a good economy?

What used to be a good economy is no longer. High production rates where factories are at 90+ of capacity, low personal debt, personal savings up, infrastructure (Interstate Highways, etc.) being built and repaired, low interest rates, local banks being local, education inexpensive, small business thriving.
What the administration now is calling a good economy is at best temporary.
About 25% of our citizens do consider this a good economy. They can borrow all they want, they can afford to buy most anything they want, they are well paid, they have a new home and a Honda, and they support the President and Newt Gingrich. They have health insurance. They save nothing.
About 75% do not consider it a good economy. They make half or less than the 25% do. They drive the trade-ins, they also borrow all they want, they have little or no health insurance, and if they do, they still have to pay half the bills. They save nothing. Their kids can go to college if they want to owe $100,000 when they graduate.
It is a false, debt-economy.
It will fail.

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Doing nothing would work
Submitted by gido1018 on Thu, 05/07/2009 - 8:11am.

Doing nothing would work better than this Stimulus plan. The stimulus plan is projected to results in a drop in GDP by 0.1 to 0.3% by 2019 and a huge increase in national debt. Doing absolutely nothing is projected to result in around a 1 to 1.3% GDP growth and zero increase in debt.

Why is it so difficult to understand that government is the cause of our problems and therefore obviously the government is not capable of any rational solutions. Governments don't fix anything. They add on layers on complexity. That's all the more reason why governments should be kept small.
instant loans

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Act your wage and all is well
RetiredArmyMAJ's picture
Submitted by RetiredArmyMAJ on Sun, 11/25/2007 - 10:14am.

Listen to is radio show and read Dave Ramsey's books as well as "act your wage" and you should have no problem in any economy.

The reason for the housing melt down was a combination of speculation (running up prices by investors) and easy credit!

Make a budget, pay off your debts and SAVE! Pay cash for your purchases. You do not need the biggest house or the newest car to be happy!

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Fighting for truth, justice and the American way, while ignoring the ignorant!


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Is it happening?
Submitted by dollaradayandfound on Sun, 11/25/2007 - 10:03am.

Yes.

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Addition to "a good economy"
Submitted by dollaradayandfound on Sat, 07/21/2007 - 3:36pm.

Forgot to say predator banks are like fire ants in Georgia in rainy weather. The reason for so many new banks---that and credit cards.
Many are now going bankrupt due to so many terrible loans and may end up being as bad as the Savings and Loan fiasco---remember Neal Bush?
I suppose the FDIC will bail them out with my and your money.

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$,
Cyclist's picture
Submitted by Cyclist on Sat, 07/21/2007 - 4:08pm.

Are you referring to subprime lenders or payday loan companies as predator banks?
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Lenders i guess. It's all
Submitted by gido1018 on Wed, 07/08/2009 - 6:32am.

Lenders i guess. It's all similar at the end having their terms.
internet payday lender

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cyclist: payday lenders
Submitted by dollaradayandfound on Sat, 07/21/2007 - 5:20pm.

Payday lenders is a good old "Georgia" thievery bunch.
Predator Banks are allowed by the feds.
Our military, our poor, our ignorant, and our desperate use payday lenders.
It is reminiscent of the old Mafia collectors of loans at extreme interest. They don't break your thumbs any more, just ruin you for life.

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Cyclist's picture
Submitted by Cyclist on Sat, 07/21/2007 - 5:59pm.

I was under the impression that payday loans are illegal in Georgia.

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cyclist: watch TV
Submitted by dollaradayandfound on Sat, 07/21/2007 - 6:03pm.

The ads by the payday loan people are on every half-hour in Georgia.
As a matter of fact, half of television anymore is sponsored by various kinds of lenders of bad loans, including big chain banks.
The banks send me 4-5 approved credit card forms every week for tens of thousands of dollars.
Maybe some of that money is yours they are lending?

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Cyclist's picture
Submitted by Cyclist on Sat, 07/21/2007 - 6:24pm.

I'm multitasking that is watching TV and responding to you. According to Governor’s Office of Consumer Affairs (Georgia) payday loans are illegal.

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Caution - The Surgeon General has determined that constant blogging is an addiction that can cause a sedentary life style.


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cyclist: loans
Submitted by dollaradayandfound on Sat, 07/21/2007 - 7:18pm.

Georgia has something called advances which is a thinly veiled payday loan.
The strict definition of payday loans was banned recently, but is about to be let back in by the Georgia legislature. I do think the 1300% and more rates will die however.
What they do is scare people to death by intimidation which was a small loan when taken, but may now be huge and impossible for weekly low wage people to ever pay. They collects as much as possible until bankrupcy of the person.

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delete
Submitted by dollaradayandfound on Sat, 07/21/2007 - 7:16pm.

x

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