Quote:
Originally Posted by wdmso
not my quote but sum's it up nicely
I love in the real world ...and things are great...economy moving forward, gas is 1.99 where i live, lost a lot of money in the stock market and value of my house...they both bounced back now..
just another thread that fails to see the Big picture
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"the economy is moving forward"
Depends how you define that, I guess. You it like that cannot be debated. It can.
Unemployment is way down. The stock market is way up. Gas is cheap. These are good things.
But the GDP growth has been pathetic, and many economists say that's a very key macroeconomic indicator, if not
the key macroeconomic indicator. Median wages are down a bit over the last 8 years, which is very rare. A lot of economists think we are on the verge of a recession. And there's that debt - not every cent of which is Obama's doing, but some of it is. And the looming social security and medicare crisis, and the fact that many states will soon be bouncing pension checks to unionized retirees. And much of the good is predicated on interest rates staying close to zero - what happens if interest rates shoot up? That's just a hypothetical, obviously.
The original post was to show how pathetic GDP growth has been. You are saying that's not a meaningful statistic. if one wants to measure the health of the overall economy. I'm not sure where you got your degree in economics, but a great number of experts would disagree with you.