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Politics : Formerly About Advanced Micro Devices
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To: RetiredNow who wrote (222012)3/5/2005 2:43:59 PM
From: tejek  Read Replies (1) of 1575513
 
The economy is doing very well. It amazes me how resilient our economy is considering how high oil is. All of our economic indicators are very healthy. In addition, the stock market keeps chugging upwards. All is very well with the economy.

Much like your view of the domino effect in the ME, I think your view of the economy is a bit optimistic. Last month was a good month for employment but one of the few increases over 150K [the level needed just to stay in place in terms of unemployment] during the past 6 months. Furthermore, wage rate growth is virtually non existent.

As for the markets, the Naz is still down considerably from 2000 and the Dow is flat with 2000. Both indexes have charts that show mostly sideways action.

And then, of course, there is the growing budget budget deficit and the horrific balance of trade. Give all that, I think we are doing just okay.

However, all won't remain very well if we keep up the profligate spending, as well as allow social security and healthcare costs to sink this titanic economy. Also, all won't remain very well if we don't reduce consumption of oil and develop alternatives as the oil tax continues its relentless march upwards.

Yeah, I don't understand the situation with oil although its expected that gas prices at the pump will increase by $.25 over the next two weeks. That's the first time I've seen a direct correlation between higher crude oil prices and the cost at the retail level.

Having said all that, inflation still seems pretty tame.

ted
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