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View Full Version : What's going to happen to our economy?



Dave B
07-07-2008, 05:54 PM
I don't know about other regions of the U.S but here in southern Utah its getting pretty grim. Cost of everything is rising and there is NO work. I own a commerical HVAC company thats primary work is schools, medical building and multi story office buildings. For over 25 years, our company has been the go to guys when customers wnated it done correct the 1st time. For the past 5 months we have been working at 25% of capacity and I only see it getting worse. I have employees that depend on me for their lively hood and I take the obligation pretty seriously but I'm about out of ideas.
Just had to vent a little.

pendennis
07-07-2008, 06:41 PM
Dave, sorry that things are not going well where you live and work. I live in the Detroit metro area, and things here are really grim. I'm retired from one of the Big Three, and they're really in a bind. Even GM has been mentioned as a candidate for bankruptcy protection.

We've a Federal government who's seen fit to meddle in every part of the economy. While the Federal Reserve is not technically a government agency, they do set financial policy, and they're doing a pi$$ poor job of it. The Executive and Congressional branches act as they don't know which end of the boot to poor the pi$$ (They probably don't). They've set policies in place, such as the ethanol idiocy, and lack of permitted oil exploration in ANWR.

One of the worst decisions the Fed has done is to keep the prime rate down at 2%. It's caused serious weakness in the dollar, caused oil prices in part, to rise to the levels they are today (+/- $140). They need to raise the prime about .75 percentage points over the next ninety days to strengthen the dollar, lower energy prices, and get things going again.

Best,
Dennis

Paul Fielder
07-07-2008, 06:52 PM
....Dad & I closed the family retail clothing store after a good 40 year run that my granddad started in 1957. This was 10+/- years ago and we saw some highs & lows even during the small time I was employed, not to mention the entire 4 decades with peso devaluation, oil field crash, etc. Nothing hurts more than having to look at an employee of 30+ years and tell them you are throwing in the towel. These were close friends I remember since I could stand.....tears on both sides of the desk.

We didn't blame anyone or anything nor did we even get mad....things just changed business wise for our industry and maybe even burnt out a little.

Wish I could tell you what the future holds but I have come to realize & still coming to grips of doors closing so others can open. We are working on it today and tomorrow & if anyone told me getting old and responsible was this hard, I would have stayed in high school.

pf

Phil Deese
07-07-2008, 07:51 PM
Looks like most of America is taking a hit with this "Do Nothing" congress that won't allow us to drill to help jump start the economy. I heard someone talking on the radio today that if we were allowed to drill anywere that it would generate over 100,000 jobs!! Petroleum fuels this nation....just look around you....almost everything is plastic, which is a bi-product of oil......
almost 30% of every automobile is plastic. Are we really nieve enough to believe oil will ever be replaced with some other source of energy?? We have been talking for 30 plus years of my lifetime about alternative sources, but everything we know of the "greenies" the government or "Peta's" don't like. Once again it appears insanity rules!! We have enough smart people in this world that want to make an honest dollar...if something was out there it would be in use by now.

Rusty Carr
07-07-2008, 08:08 PM
Guys, I'm no economist, but I can read, and having read both books about the fair tax, I'm convinced that it is THE answer to our economic woes. The problem is that it has become politicized and is now a partisan issue. It should not be this way. If everyone of us would read up on the subject, and then convince our representives that is not too good to be true, that it is a real solution to the problems we face, we could then ride the coattails out of this quagmire. This country could become the mecca, the example for the rest of the world to follow. It won't happen, precisely because it has become a political issue, nevertheless, I am begging each of you to get your own copy of "the fair Tax" by Neal Boortz and John Linder. I forget the name of the follow up book, but it answers the questions raised by the first book. Thanks in advance, Rusty Carr

Paul Fielder
07-07-2008, 08:12 PM
Guys, I'm no economist, but I can read, and having read both books about the fair tax, I'm convinced that it is THE answer to our economic woes. The problem is that it has become politicized and is now a partisan issue. It should not be this way. If everyone of us would read up on the subject, and then convince our representives that is not too good to be true, that it is a real solution to the problems we face, we could then ride the coattails out of this quagmire. This country could become the mecca, the example for the rest of the world to follow. It won't happen, precisely because it has become a political issue, nevertheless, I am begging each of you to get your own copy of "the fair Tax" by Neal Boortz and John Linder. I forget the name of the follow up book, but it answers the questions raised by the first book. Thanks in advance, Rusty Carr

...common 'cents' tells you it is the way to go!! You got my vote!!

pf

Phil Deese
07-07-2008, 08:33 PM
I agree with you, the fair tax is a great idea, but there are 2 reasons it won't ever happen. One, how would the politicians be able to steal from the middle class again, and two, the democrats would loose all those automatic votes from the people that work for the IRS!!

dlay
07-07-2008, 08:45 PM
I am 65 years old, when I was a kid my dad told me that the working man was much better off with a democratic administration. He said that if you dont believe it look at history, it will tell you. Well it is still true today, look at history. The republicans can win elections, but cant mind the cash box.:(

Phil Deese
07-07-2008, 09:01 PM
My Dad told me the same thing, but the party has left the working man and crawled into bed with the wacko's and social illiterate. If you are happy with abortion, homosexual rights, and race baiters stick with it.....I couldn't!! Jesse, Rosie, and Jimmy is more than my stomach can take at one time.

dlay
07-08-2008, 01:17 PM
You are partly right, this is the worst choice that I can remember, will probably stay home election day. Surely there are two better choices than this.:(

Zermel
07-08-2008, 02:09 PM
We are not anywhere near at the bottom yet.
I live in Canada and gas prices hit $6.00US.
$1.60 per liter in BC that is over $6.00 per US gal.
Transportation will come to a sudden stop.
Produce from the US can not be shipped at any resonable cost.

People will not be able to affort to buy the
the commodities being shipped by whatever
mode since all shipping needs fuel.

Countries like China and India can out buy us since the they pay for labour only in pennies. So you can see where the fuel is going.

At the present rate of of consumption carbon monoxide is being absorbed by the ocians at the rate of 7200 tons a day, killing the ocians by raising the PH which
has increased by 30% in only a few years.

We need to clean up the air. China and India wont help with that. What to do???

Elmer T.
07-08-2008, 11:51 PM
I am 65 years old, when I was a kid my dad told me that the working man was much better off with a democratic administration. He said that if you dont believe it look at history, it will tell you. Well it is still true today, look at history. The republicans can win elections, but cant mind the cash box.:(

Just to think, I thought we had a democrat majority in the house and senate for the past couple of years. IMO, the best thing that we can have when it comes to politics is gridlock. I've never seen the government "fix" anything and if they start talking anything to do about taxes whether it's cutting taxes or raising taxes, you'd better hold onto your pocketbook because it's getting ready to cost you. I've been hearing these campaign promises to raise taxes on oil companies windfall profits. Who do you think is going to wind up paying these? The oil company will just pass it on to the consumer in higher prices per gallon. Tax the oil companies more and you'll just think that gas prices are high now.

Big Al
07-09-2008, 02:02 AM
To the original question, go find a large tank, look inside to see if you can find our economy. That's where you will find it. In the Tank!

overbore
07-09-2008, 08:19 AM
Once again, Sir, we are in "Mind Meld" as we are old enough to have a good perspective of our past events such as the draft that saved our Army passed by just one vote prior to WW-2. We seem to go from crisis management to crisis but this time we do not have the national political will to come together and take the required drilling actions as part of the total solution. We run on oil not political promises -oil powers our nation not political posturing which is what the liberals are giving us and is what they are going to give us to drive on if Half-Honkey is elected! His alternate energy "plan" is 30 years or so out while we would not have a current crisis if Billy Boy had not vetoed the drilling bill. Politicos, like Mz. Nancy, only care about short term personal power for them and their inner circles; the solutions to that either are far to obvious or draconion. Remember the permanent solution to Viet Nam ? ps they just banned the purchase of gold for their subjects-- "First you kill all the Bad Guys then you load the good guys on ships-- brace yorurself-- then you sink the ships". End of political problems--. :D:D:D Overbore