BK Forum - The True Measure of our Economy?

[Flamingo]

So long as Obama and his never-ending vacationing wife are in the White House the economy will suck. We need adults in Washington.

Everyone says the same thing about every President that gets elected to the White House and they will say the same about the next several....the economy sucked even before he went into Office and everyone complained about Bush, Clinton, etc.

[OhioFiler]

Everyone says the same thing about every President that gets elected to the White House and they will say the same about the next several....the economy sucked even before he went into Office and everyone complained about Bush, Clinton, etc.

Actually, the economy thrived under Clinton and most of GWB's two terms. Obama's spending problems are destroying the economy.

[keepmine]

I'll just say I'm one person who is better off with the Obama administration.
The Dow is up 63% from when the President was sworn in.My 401k and IRA pretty much reflect that statistic. I doubled down on a lot of stocks and index funds in Nov./Dec. of 08 and again towards the end of Jan. in 09. It's worked out pretty darn well.
Also, in my area real estate and new home construction are starting to come of the mat as people seem to be confident enough to take advantage of generational lows in interest rates.

[Logan]

Actually, the economy thrived under Clinton and most of GWB's two terms. Obama's spending problems are destroying the economy.

Unfortunately the main driving factor for the economy during the Bush years was the housing market which was also the main factor for the recession.

[OhioFiler]

Unfortunately the main driving factor for the economy during the Bush years was the housing market which was also the main factor for the recession.

Clinton rode the dot com bubble until it burst.

[jacko]

Spending problem? That has been going on since 2001.

Actually, the economy thrived under Clinton and most of GWB's two terms. Obama's spending problems are destroying the economy.

[jacko]

So, you are proposing a war with Iran? If Iran wants a nuke, why is it our business?

You are correct. Since my post on this thread, look what a day or two can hold for you. In our area fuel went up drastically. We have more to fear than our economic situation. I am warned not to mix my politics with posts, but, check out our militarily emergencies not being discussed. Our troops are being laid off, and can't find jobs saved for them, Iran about to get it's nuke and a Presbo not willing to act (perhaps he can talk our way out of WWIV). Once some sort of action occurs, the stock market will fall, the fuel will go crazy and food will go up. Face it, we are now a second rate Nation with no gonads. Sorry folks, I say it as I see it. 'Hub

[jacko]

You to can go on vacation if you save for it.

So long as Obama and his never-ending vacationing wife are in the White House the economy will suck. We need adults in Washington.

[MSbklawyer]

I'll just say I'm one person who is better off with the Obama administration.

I'll say that too. Indubitably. I started focusing my practice on bankruptcy in late 2005 when Katrina devastated this area. It was slow then because fed-gov money was pouring in, but that would soon dry up and now they're even demanding a lot of it back. Case volume has more than doubled since then. Unemployment, foreclosures, layoffs, offshoring of production facilities -- that's my bread and butter of late. Hell, when gas goes above $4.00 / gal I'll be in high cotton, as they say. Enough even, to replace all the stuff that gets stolen out of my garage. I'd rather be closing real estate deals, forming new business corporations, adoptions and such. That's happier work, but there's not much of it. If my concerns ended when my life ended, I'd vote for his Marxist ass every time. But they don't . I have kids that I'd like to leave something more than a bankruptcy practice to that depends on other people's misfortunes.

I wonder sometimes if it is visible to them when my eyes glaze over as they start spilling their guts to me about how hard they have tried to avoid banktupcy; how hard it is for them to admit "failure"; how they took out a second mortgage on their home to pay credit card debt because they had never been late on a bill in their life and they were sure that things were going to get better; how they exhausted the 401ks to pay credit cards and had a 700+ credit score and now he has to get food stamps to feed his family; how 45 year old men are moving back in with their parents.

Hey, I'm with you bro. Obama all the way 2012.

[jacko]

So it is Potus fault that people over extended themselves? So what has your state done to make sure that their citizens have the skills required to compete in a job market? if Germany can do it, Ol' Dixie certainty can do it. As for the Marxist dig, do you know what it means? Your state is fine example of one. Living off others. Calif residents for once would like to keep their dough to themselves.

I'll say that too. Indubitably. I started focusing my practice on bankruptcy in late 2005 when Katrina devastated this area. It was slow then because fed-gov money was pouring in, but that would soon dry up and now they're even demanding a lot of it back. Case volume has more than doubled since then. Unemployment, foreclosures, layoffs, offshoring of production facilities -- that's my bread and butter of late. Hell, when gas goes above $4.00 / gal I'll be in high cotton, as they say. Enough even, to replace all the stuff that gets stolen out of my garage. I'd rather be closing real estate deals, forming new business corporations, adoptions and such. That's happier work, but there's not much of it. If my concerns ended when my life ended, I'd vote for his Marxist ass every time. But they don't . I have kids that I'd like to leave something more than a bankruptcy practice to that depends on other people's misfortunes.

I wonder sometimes if it is visible to them when my eyes glaze over as they start spilling their guts to me about how hard they have tried to avoid banktupcy; how hard it is for them to admit "failure"; how they took out a second mortgage on their home to pay credit card debt because they had never been late on a bill in their life and they were sure that things were going to get better; how they exhausted the 401ks to pay credit cards and had a 700+ credit score and now he has to get food stamps to feed his family; how 45 year old men are moving back in with their parents.

Hey, I'm with you bro. Obama all the way 2012.

[Flamingo]

Actually, the economy thrived under Clinton and most of GWB's two terms. Obama's spending problems are destroying the economy.

I remember seeing comments like this when I joined this forum years ago about others in office, seeing them over the years in here and we will all be seeing them this time next year and the year after as to whoever is in office. No one is ever happy as to who gets elected and what is done. People always griped about Clinton and Bush and I remember people griping the same way about Reagan, Ford and Carter...no one will ever be happy as to elected officials and we ourselves are in charge of our own personal financial situation and no elected official can change that...

[OhioFiler]

You to can go on vacation if you save for it.

Of course. Why don't Michelle and her economy wrecking husband save for their vacations? Why does Michelle need to fly separate from her anti-American husband to the $15,000/night resorts they frequent...all on the taxpayers' dime?

[MSbklawyer]

So it is Potus fault that people over extended themselves?

In part, certainly. If people don't have work because of the economic policies and are buying necessities on credit; if the value of their homes has shrunk 40%, it's easy to become overextended.

So what has your state done to make sure that their citizens have the skills required to compete in a job market?

Poured millions, multiples of millions, of federal government money, your money, into failing school systems in an effort to educate children, the parents of whom couldn't care less if they are educated or not; whether they drop out or not; whether they become pregnant or not; whether they do drugs or not.

It hasn't worked. The kids, almost invariably, become what their parents were and the cycle repeats itself, only on a larger scale with each generation.

if Germany can do it, Ol' Dixie certainty can do it.

You think so?

As for the Marxist dig, do you know what it means? Your state is fine example of one. Living off others. Calif residents for once would like to keep their dough to themselves.

I know exactly what it means. 60 cents of every dollar of income in Mississippi is some kind of government transfer payment. It is definitely a net tax consumer. No argument there.

As far as I am concerned, California residents and everyone else can keep their money. It wouldn't affect me personally. But you'd need to steel yourself for the shots on CNN that would certainly be coming that would look like scenes from Ethiopia.

[OhioFiler]

The rare attorney with a conservative outlook. So refreshing!

[mlsj2009]

You are correct. Since my post on this thread, look what a day or two can hold for you. In our area fuel went up drastically. We have more to fear than our economic situation. I am warned not to mix my politics with posts, but, check out our militarily emergencies not being discussed. Our troops are being laid off, and can't find jobs saved for them, Iran about to get it's nuke and a Presbo not willing to act (perhaps he can talk our way out of WWIV). Once some sort of action occurs, the stock market will fall, the fuel will go crazy and food will go up. Face it, we are now a second rate Nation with no gonads. Sorry folks, I say it as I see it. 'Hub

You wear me out Hub, love your comments on bankruptcy but not happy with your politics. You want to replace one politician (obama) with yet another more dangerous politician (Fascist Republican- any of them will do).
I am an equal opportunity hater of professional politicians regardless of which tribe they ascend to the throne from. They are all collectivists and support the lobby machine which supports big business. Out-sourcing, one World philosophy, and an influx of foreigners into our country has caused this mess along with a dependency on oil (again, big business). If you will remember, it was Bush who was President when all of this started. Obama just inherited. Not necessarily either one's fault because it has been coming for a long time.
Our true unemployment is 36.3%. That means 36.3 % of the available work force is od