You pleased we are all doing better financially?

[billwald]

American wealth
Net worth has risen for two straight quarters after shrinking last spring.
Associated Press

WASHINGTON -- Americans' wealth grew 3.8 percent in the final three months of 2010, boosted by gains in stock portfolios. Companies, meanwhile, added to their cash stockpiles, which reached their highest point in more than a half-century.

Household net worth rose to $56.8 trillion in the October-December quarter, even though the value of real-estate holdings fell 1.6 percent, the Federal Reserve said Thursday. Last quarter's gain exceeded the 2.6 percent increase in net worth in the July-September period.

So far this year, stocks have risen more than 3 percent. Further gains in wealth could lead Americans -- especially higher-income consumers -- to spend more, strengthening the economy.

Net worth is the value of assets such as homes, checking accounts and investments, minus debts like mortgages and credit cards. It's now risen for two straight quarters after shrinking last spring.

 

[glfredrick]

The Left has learned that "saying so" can make a recession happen, now they're trying the reverse, which is not quite so true.

It is far easier to erode confidence, which is often the root cause of recession, than it is to restore that confidence, when paychecks are missing, job lines are long, and prices are inching ever upward.

In a sense, they've unleashed Pandora's box just to make political points and to denigrate the last administration. Now that it has worked beyond measure, and the "bubble" popped, they are scrambling to know what comes next. One thing it isn't -- is rhetoric. Another thing it isn't is PRINTING MONEY.

 

[billwald]

I'm doing just fine. All you non-union workers are doing fine. Who isn't doing fine? Just welfare slugs and people who don't tithe to their local church.

 

[Tom Bryant]

I'm doing just fine. All you non-union workers are doing fine. Who isn't doing fine? Just welfare slugs and people who don't tithe to their local church.

I'll tell the 4 families who were tithers who are now going thru Foreclosure in the court system. I'm glad you're doing fine... but it isn't just welfare slugs and non-tithers.

 

[poncho]

The Left has learned that "saying so" can make a recession happen, now they're trying the reverse, which is not quite so true.

It is far easier to erode confidence, which is often the root cause of recession, than it is to restore that confidence, when paychecks are missing, job lines are long, and prices are inching ever upward.

In a sense, they've unleashed Pandora's box just to make political points and to denigrate the last administration. Now that it has worked beyond measure, and the "bubble" popped, they are scrambling to know what comes next. One thing it isn't -- is rhetoric. Another thing it isn't is PRINTING MONEY.

IMHO the only way to restore confidence in our economy is to prosecute those who are responsible for crashing it.

 

[billwald]

>I'll tell the 4 families who were tithers who are now going thru Foreclosure in the court system. I'm glad you're doing fine... but it isn't just welfare slugs and non-tithers.

I suspected as much but one wouldn't get this slant from reading baptistboard. Are they closet dems and union members? Most here seem to have bought into the Big Business religion which preaches that only losers lose. God doesn't only help those who help themselves and those with financial problems must be subscribing to government handouts? The proper thinking people . . . their problems are always caused by the Fed and government regulations? Or the Demon of Repos is harassing them?

 

[Havensdad]

>I'll tell the 4 families who were tithers who are now going thru Foreclosure in the court system. I'm glad you're doing fine... but it isn't just welfare slugs and non-tithers.

I suspected as much but one wouldn't get this slant from reading baptistboard. Are they closet dems and union members? Most here seem to have bought into the Big Business religion which preaches that only losers lose. God doesn't only help those who help themselves and those with financial problems must be subscribing to government handouts? The proper thinking people . . . their problems are always caused by the Fed and government regulations? Or the Demon of Repos is harassing them?

You do not have any idea of what you are talking about. Conservatives (like myself) are ALL FOR helping the less fortunate. We are just in favor of giving of our money willfully, rather than to have the government steal it from us and give it to the poor, like some demented, inefficient Robin Hood that wastes two thirds of the money on bureaucracy.

No, "losers" are not the only ones struggling. Everyone is struggling, because of the business killing, big government, WASTEFUL administration that is in the White House right now. 1 out of 5 people in the U.S. are underemployed (like my friend, who is an architect that is working at a fast food restaurant), and 1 out of 10 Americans are unemployed.

If, however, all of the ridiculous regulations, taxes, and such were removed, we would see a tremendous boon to our economy, since we would then be able to compete on the world market.

If you REALLY want to tax people, we should be taxing foreign imports. A 25 percent tax on imports from places like China, would help greatly in the buying of domestic products, while also boosting tax revenue.

 

[annsni]

Let's see, our house value is still down $200,000 from what it was a few years ago, our retirement value is still down and we haven't seen a raise in 4 years. Add to that two daughters now in college and no, we're definitely not doing better financially.

 

[John Toppass]

Let's see, our house value is still down $200,000 from what it was a few years ago, our retirement value is still down and we haven't seen a raise in 4 years. Add to that two daughters now in college and no, we're definitely not doing better financially.

Don't complain, sounds like you have a ways to go to get into the average dilemma. Be thankful that you have enough to make it through the lean times. You still have your boat? I know folks who can't afford an oar.

 

[annsni]

Don't complain, sounds like you have a ways to go to get into the average dilemma. Be thankful that you have enough to make it through the lean times. You still have your boat? I know folks who can't afford an oar.

Our boat is our savings. It's paid for so it costs us nothing more than gas (which is under $100 a year). My ILs gift us for Christmas our yacht club bill and insurance. God bless them!

 

[billwald]

>If, however, all of the ridiculous regulations, taxes, and such were removed, we would see a tremendous boon to our economy, since we would then be able to compete on the world market.

Who is 'we,' Kemosabe? Say all taxes and regulations were removed. Remembering that commodities are an international market and that most consumer goods are now manufactured in China, please explain how US workers can compete with Chinese workers unless US standard of living is reduced to Chinese standard of living?

In other words, US workers compete as long as US wages are 10 times or 20 times higher than Chinese wages? If factories were built in the US and US wages were reduced to Chinese wages, is there any reason to believe that the retail price of consumer goods in the US would be cut by 90% or 95%? What do you think the unit shipping cost of a container ship full of appliances from China adds to the unit shelf price of a $1000 household refrigerator?

 

[Salty]

... Say all taxes and regulations were removed.

You forgot one important word "ridiculous"

It is important to have taxes and regualtions - but not ridiculous ones!

 

[Havensdad]

>If, however, all of the ridiculous regulations, taxes, and such were removed, we would see a tremendous boon to our economy, since we would then be able to compete on the world market.

Who is 'we,' Kemosabe? Say all taxes and regulations were removed. Remembering that commodities are an international market and that most consumer goods are now manufactured in China, please explain how US workers can compete with Chinese workers unless US standard of living is reduced to Chinese standard of living?

In other words, US workers compete as long as US wages are 10 times or 20 times higher than Chinese wages? If factories were built in the US and US wages were reduced to Chinese wages, is there any reason to believe that the retail price of consumer goods in the US would be cut by 90% or 95%? What do you think the unit shipping cost of a container ship full of appliances from China adds to the unit shelf price of a $1000 household refrigerator?

The price from the products that you use, especially in the U.S., is NOT predominantly from wages. It is from taxes and regulatory charges.

Take, for example, automobiles. When I was in Korea 10 years ago, our tour guide told us that a 7 passenger van could be purchased for between 5k and 10k U.S. dollars, depending upon options. This was about 1/3rd to 1/4th of the cost in the U.S. This was not due to wages, which were only slightly lower than in the U.S. It was due to the ENORMOUS regulatory charges, the double and triple dipping that our government does on taxes, etc.

You liberals need to get over yourselves. We are being taxed out of existence as it is, and we cannot even keep up with the programs we already have. A 100 percent tax, on every working person's income, would not even cover our yearly budget. We cannot just keep borrowing.

We either have to raise our export level to match our import level, become seclusionary and cut off all dealings with the outside, or go bankrupt, and close up shop. Those are our only options: option number 1 requires a nixing of a HUGE amount of taxing and regulations.

 

[Jon-Marc]

I am in the worst financial shape I've been in for a long time. My retirement check has been cut several times over the years so that I'm now getting about $400 less per month than I was getting when I retired in 2003. For the last three years the government has said there has been no increase in the cost of living. So instead of a raise my check got cut.

I'm no longer able to pay my bills as I could last year because of my check being cut this January another $85.34 per month. Plus, I made the mistake of moving to California on the advice of friends here, but it costs a LOT more to live in CA.

 

[billwald]

$400 since 2003 is a BIG cut! Hope you like rice and beans. Not funny.