The board has been a more pleasant space without the B vs K debates and I dont want to start anything but I get discosuraged when the major networks delibberatly ignore good news if it all favors Pres. B. I saw no mention at all of this on CNN and it is major news.
All politics aside, this is good news and you should know about this...
All 50 States Post Personal Income Growth
1:22 p.m. 09/28/2004 Provided by


By Kristin Roberts

WASHINGTON (Reuters) - U.S. personal incomes rose 1.5 percent in the second quarter of 2004, the fastest pace of growth in more than three years, as income gains sped up in 33 states, the Commerce Department said on Tuesday.

All 50 U.S. states reported increases in personal income, and real earnings for all eight U.S. regions climbed above the level set in the first quarter of 2001, the previous peak in the national business cycle, the government reported.

The Rocky Mountain and Far West regions posted the strongest personal income growth. Washington led the nation with a 2.4 percent increase in personal income, followed by Montana and Nevada, up 1.9 percent from the previous quarter.

"We do see an improving picture here," said Mark Vitner, an economist at Wachovia Securities. "I think the recovery has strengthened and broadened."

But Vitner noted the figures were old, and third-quarter data due in December would likely reflect economic softness experienced in the summer.

For some states, second-quarter gains were driven by increased earnings in the real estate and leasing industry. Arkansas and North Dakota posted a jump in earnings due to growth in the farm sector.

Nationally, all three components of personal income -- net earnings, property earnings and transfer receipts -- grew.

Net earnings, or income from work, increased 1.6 percent. Strong income growth rates for proprietors helped offset weaker gains in the wage and salary portion of earnings. Proprietors in Michigan posted the fastest earnings growth among states, hitting 4.7 percent in the quarter.

Transfer receipts, or payments received when no work or services are performed, also rose, thanks to growth in Medicare and Medicaid payments.

Income from interest, dividends and rent, known as property income, was the weakest contributor to total personal income. It rose 1.0 percent in the second quarter, the report said.

Nearly all industries reported higher earnings.

The real estate and leasing sector posted an 8.3 percent increase in second-quarter earnings. Wyoming, Montana, Michigan, South Dakota and Vermont all reported earnings gains of more than 10 percent in that sector.

High gasoline prices hurt the arts, entertainment and recreation industry, which suffered a 1.9 percent fall in earnings. Gas prices cut travel to amusement parks and spending on fuel-intensive activities, such as boating, the report said.

Ohio took the biggest hit in that sector, with earnings down 9.4 percent.


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It's too bad that those earnings seldom make their way to employeees!...

But that is good news though!...

Bliz, this is personal earnings, not corporate. This is the $ that employees make.

This was reported.
I don't think it is as good as you may think.
Can you say inflation?

A lot more factors would be invloved in inflation. greenspan is all over that.
Personal income is what most people care about and what drives savings and buying power thus driving the economy
Come on Zacs, your dad was my teacher!!! :rolleyes:

Originally posted by RIJIMMY
WASHINGTON (Reuters) - U.S. personal incomes rose 1.5 percent in the second quarter of 2004, the fastest pace of growth in more than three years, as income gains sped up in 33 states, the Commerce Department said on Tuesday.

sure in the last 3 years. lets see how it ranks in the last 10 years. Inflation is rising at a faster rate than pay raises, so in the long run people are loosing $$$

Health care is way up

oil prices are through the roof

food costs are going up, look at milk prices

house prices have skyrocketed

college tuitions are going up up up

and worse of all Habs needlefish cost 23 bucks:smash:

granted this is not our current presidents fault, but i dont see him bending over backwards to fix anything.

Originally posted by Eben
and worse of all Habs needlefish cost 23 bucks :smash:


I tell you, this country is going to hell in a handbasket mighty quick! :laughs:

EBen - Inflation is rising at a faster rate than pay raises, so in the long run people are loosing $$$

In the past few years inflation has been dangerously low, it is a good thing that recently it has come up a bit. It is still at historic lows.

Oil is the big worry, it would probabaly be a good idea to attack some country that has a huge oil supply (just kidding!!!)

nuke em... I want cheap gas:bshake:

i get hab's for 19 bucks :uhuh:

LOL
Just stirring the pot!

By my calculations yesterday (9/28) was the first FULL day in some time with aboslutely no bush v kerry posts.

I guess I just missed the controversy. Does that mean I live a very borring life? Probably.

I wish it would stop winding/raining so I can fish tonight!

Hay Zacs, with the wind right now you could probably hit Cuttyhunk from your office :laughs:

-spence

I stepped outside to try.

I got it over the bridge, over the hurricane barrier, but then my line was clipped by the highspeed ferry.

BTW, I am going fishing tonight no matter what.

_ZA

Not going to say a word!!

Originally posted by Eben
sure in the last 3 years. lets see how it ranks in the last 10 years. Inflation is rising at a faster rate than pay raises, so in the long run people are loosing $$$

granted this is not our current presidents fault, but i dont see him bending over backwards to fix anything.

Eben, we finally agree !!!!!! It's Bill Clinton's fault. Fixing these things take time. The rise in personnel income is a good start and was initiated by our incumbent.

Basic politics indicates that democrats want big goverment and republicans want small goverment. Big goverment cost money, your money. Home buying / ownership is at a all time high now. The American dream is available to those would couldn't afford a home during the Clinton era. Life is good.

"nuke em... I want cheap gas"

Now your talking my language!:laughs:

Originally posted by Navy Chief
Home buying / ownership is at a all time high now. The American dream is available to those would couldn't afford a home during the Clinton era. Life is good.

Who you kiddin?
Home prices went up 40K in the last year anf 50K the year before that. I dont know about you but I cannot save enough to even get onto that ship.

People are selling the one item that they have left after the bubble burst. And other fools are buying. Furthering the crazy prices.

I have watched over the last 15 years as My gross income grew at a rate far slower than the price of housing.

yup...

I will say that interest rates were really low up into a few months ago so you could get a mortgage at a low rate, thus a high priced home might be affordable, but in the past few months interest rates are going up.. the housing market bubble is about to pop, or at least it is about to stop rising.

i'm sure glad I own a house:cool: