The economy is strong and getting stronger my @$$

[flamin lib]

Original thread here: http://www.democraticunderground.com/discuss/duboard.php?az=view_all&addres
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Federal Reserve reports Average Family Income dropped 2.3% - 2001 to 04
The average income of American families, fell2.3%. The median income rose slightly 1.6% from the 2001 level. The Fed survey found the share of Americans' financial assets invested in stocks fell 4%, while the percentage of Americans who owned stocks, fell 3.3 percentage points. The survey found the percentage of families with some type of tax-deferred retirement account fell 2.5 percent, however, the median for holdings in retirement accounts rose 13.9%.
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What does this mean? The Bush administration says the economy is strong and getting stronger because of their tax cuts. Is it really? Not according to the Federal Reserve.

The Average Income, that number derived from adding all the incomes together and dividing by the number of incomes, declined by 2.3%. The Median Income increased by 1.6% which means that the top income earners did better than the bottom income earners. Something any thinking person already knew from looking at the outcome of the Bush policies.

Stock investment fell by 4% indicating that there is less money going into savings. 401Ks are down because income is down and families have less disposable income for retirement accounts. The amount of money in the retirement accounts went up because those making a $ million or more are keeping more of it because of tax cuts on un-earned income.

I just attended a foreclosure seminar on how to buy foreclosure properties. In 2005 the average number of homes going into foreclosure was 200/month. For February of 2006 the number was 400.

The Bush Administration will spin this by saying that median income is up, savings are up and the economy is doing well. Home sales are way up meaning that more people own their own home.

And the media will repeat it and the sheeple will believe . . .

[Burried News]

1. Just go to the Supermarket if you haven't gone in awhile.

[flamin lib]

3. I do all the shopping and cooking for the two of us.

Once upon a time about a year ago I never paid more than $1.00/pound for meat. Whole pork loins, and ribs could be found on sale for .79 - .99. Whole chicken would go on sale for .39 a pound.

Now .59 is as cheap as whole chickens go and pork loin is a deal at $1.49.

A lot is due to the gas tax--increased fuel costs for delivery.

Yeah, things are just ducky here in Dallas . . .

[Burried News]

7. I have given up eating so much meat, especially lunch meat.

When I do buy any, I am astounded at the price. Watch how many people go up to the meat counter and then walk away, especially in poorer neighborhoods. The other day I saw a construction worker (concrete on his shoes and overalls). He was thin and the work he does is very hard (I've done a bit and my father was a brick layer) He picked up a couple of items and then put them back. It is one thing for someone like me to give up meat but a young hardworking guy needs the protein.

In my case I feel it most when it comes to beverages (because the water where I live is heavily clorinated). They are very expenssive ($5.29 for a half gallon of cranberry juice). Frankly one of the cheapest beverages is beer.

[flamin lib]

11. Not a vegan myself, but beans make for a lot of protein and are

a real adventure to the taste buds. There are never less than 7 varieties of beans in my pantry.

Basic recipe is a 175 Watt slow cooker, 1 part beans to 4 parts water, an onion, pork fat or ham, bay leaf, 1/4 tsp thyme, salt and pepper. Cook on high for 3 hours. Re season to taste.

Black beans, baby lima (dried), and white beans (any variety) all have distinct flavors and are enhanced by a little olive oil and raw garlic at the last.

[politicaholic]

2. First, more homes being owned doesn't mean more people own homes...

Who buys forclosed homes? Investors!

I guess they didn't mention the 14,000,000 more people reported to use food banks around the country in 2005 as reported on NPR yesterday morning.

[Arkansas Granny]

4. I've seen several economists on TV lately saying that for

upper income households the economy is really good, however, most Americans are not enjoying any of these benefits. This is the trickle down theory all over again and we all remember how well that worked out with Reagan's policies.

[fed-up]

5. I hope foreclosures you might buy aren't a poor dem's that lost their job

due to *.

I hope you pay a fair price so you can sleep at night and NOT become a "poor" profiteer.

[flamin lib]

12. Not in the market myself. I'm in Chapter 13 thanks to *. nt

[Ksec]

6. Is there any doubt that theyre manipulating numbers to get what they want?

That Enron kind of accounting thing that gets results where there are none...I mean, these are the people who invented the new way. Are they not the same breed?

[Burried News]

8. I was told by a realtor that the avg down payment by 1st time buyers

is 3%. Also the number of mortgages that are 'interest only' (none of your monthly payment pays off the loan) is 40% in some locations and growing rapidly.

[flamin lib]

13. Find a different Realtor . . . nt

[CarlSheeler4U]

9. Sadly there is truth to the figures

Figures can be twisted unless you know what is beneath them.

Companies are doing stronger due to financial, pharamceutical and energy companies which skews results as does the wealthy become more wealthy. You extract these entities from the indicators, then the anecdotal evidence you're refering to becomes the case.

Not only a candidate for US Senate, but my doctorate is in finance!

Carl
Sheeler for US Senate (D-RI)
www.carlsheeler.com

[lpbk2713]

10. One of the oldest lies in the rethuglican "strategery" manual.

Repeat a lie often enough and eventually people accept it as the truth.


I've been hearing the same pack of lies for 5 years now. The 401-K and IRA statements I get from Merrill Lynch every month tell me a lot different than the horseshit BushCo and their co-conspirators want people to believe.