More Great Economic News

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sandy said:
They didn't steal it from me. They stole it from construction workers, cleaning ladies, roofers, etc...They stole it from AMERICANS who had the jobs before the criminal alien pukes slithered across the border. Legal immigrants are fine for working the fields. Criminal aliens are NOT fine for undercutting Americans and taking their jobs for a fraction of the money. Ugh. :mad:
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so your against pure captillism
 
pjdude1219 said:
all of these tend to be lower paying jobs the jobs being lost are higher paying owns. Number of jobs is important but what those jobs are is just as important. We are losing high tech jobs and they aren't being replaced that is why people say the american economy is hurting.
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Not only that. Sandy speaks in terms of the workers getting slighly (3.8%) more dollars compared to last year. Totally ignoring that the cost of many of their basic food items and gasoline have approximately doubled in last two years!

If they keep losing purchasing power at this rate in 2008, many will need to chose between eating and busing to work grocery store etc or not eating and puting gas in their car. Sandy can only see her investments growing in dollars, not that she too is lossing ground if not more lucky than most. Is that "good news" or just "sloppy thinking," analysis and understanding?
 
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Billy T said:
Not only that. Snady speaks in terms of the workers getting slighly (3.8%) more dollars compared to last year. Totally ignoring that the cost of many of their basic food items and gasline have approximately doubled! If they keep losing purchasing power at this rate in 2008, many will need to chose between eating and bussing to work grocery store etc or not eating and putiong gas in teir car. Sandy can only see her investments growing in dollars, not that she too is lossing ground if not more lucky than most.
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It has NOTHING to do with luck. It's all about faith, wise investing, lots of prayer and good advice. :D I got into Google when everyone said I was stupid. I bought gold and people said I was nuts. And now I'm buying up real estate. It's not about luck. ;) :)
 
sandy said:
It has NOTHING to do with luck. It's all about faith, wise investing, lots of prayer and good advice. :D I got into Google when everyone said I was stupid. I bought gold and people said I was nuts. And now I'm buying up real estate. It's not about luck. ;) :)
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investing involves luck pure and simple
 
Billy T said:
Totally ignoring that the cost of many of their basic food items and gasoline have approximately doubled in last two years!
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Don't be ridiculous. Gas has roughly doubled over the past 4.5 years and it's been at least a decade since food cost half as much as it does now. Maybe closer to 2. Certain specific food items have been volatile, but that doesn't add up to a doubling in food costs.

Moreover, gas has been going up in every country in the world, and food price inflation has been much worse other places (China, for example). As a country with a very high per-capita GDP, America will be among the last places that have to choose between eating and driving, as those expenses consume a much smaller portion of the average person's income than in other places.
 
pjdude1219 said:
investing involves luck pure and simple
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I do not want to come to sandy's defense, but there is more than "pure luck" to investing. If that were the case, in 60 or so years I have been at it, my profits would be small. I have gone from full need scholarship case, who worked for all his food and pocket money and lacked even 200 mile trip bus fare home for Thanksgiving once, to a multi-millionare. In large part because I have been able to correctly foresee major economic trend. Like the coming crash of the dollar and US /EU economies. (Not only that - I have advised all readers here many years ago to get into ADRs of Brazil and India and those that followed my advise have at least quadrupled their value in dollars by now.)

Sandy is ignoring the main point of my post - namely her is silly claim that single digit increases in annual wages, like 3.8% lazst year, compensate for the near doubling increase in food (due to GWB's stupid policy of war and alcohol from corn programs mainly) and fuel for transport that has occured in last few years is "good news." It is not. It is just "sloppy thinking" and "poor understanding", as I said earlier.
 
Billy T said:
I do not want to come to sandy's defense, but there is more than "pure luck" to investing. .....Sandy is ignoring the main point of my post - namely her is silly claim that single digit increases in annual wages, like 3.8% lazst year, compensate for the near doubling increase in food (due to GWB's stupid policy of war and alcohol from corn programs mainly) and fuel for transport that has occured in last few years is "good news." It is not. It is just "sloppy thinking" and "poor understanding", as I said earlier.
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Mock me all you want. My net worth has been WAY into 8-figures since I was 30.
 
sandy said:
Mock me all you want. My net worth has been WAY into 8-figures since I was 30.
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Not mocking you. In fact in last post came to your defense. You may have done very well, but it is not possible to determine how much is luck and how much is skill and knowledge. (Or even how much is due to fact you are already in the rich class GWB is distributing benefits to.)

Yours is silly, "sloppy thinking" to call annual nominal wage gains of less than 5% (3,8% last year) "good news" when food prices are up much more. Probably you spend very small fraction of your income on food, but unfortunately the poor spend a very much larger fraction. So yes, I can agree that for the rich, GWB has been good (and they have been good to him with financial support) but for the average Joe American (and the US) GWB has been a disaster - worst president ever.

Here is some information on food prices from the Economist:

"In early September the world price of wheat rose to over $400 a tonne, the highest ever recorded. In May it had been around $200. Though in real terms its price is far below the heights it scaled in 1974, it is still twice the average of the past 25 years. Earlier this year the price of maize (corn) exceeded $175 a tonne, again a world record. It has fallen from its peak, as has that of wheat, but at $150 a tonne is still 50% above the average for 2006.

As the price of one crop shoots up, farmers plant it to take advantage, switching land from other uses. So a rise in wheat prices has knock-on effects on other crops. Rice prices have hit records this year, although their rise has been slower. The Economist's food-price index is now at its highest since it began in 1845, having RISEN BY ONE-THIRD IN THE LAST YEAR."

FROM;
http://www.economist.com/opinion/displaystory.cfm?story_id=10250420

SEE also the cover story for the current issue entitled;"Food prices - The end of cheap food" Dec 6th 2007

at: http://www.economist.com/opinion/displaystory.cfm?story_id=10252015

I and sorry, but last year's 3.8% rise in wages does not compensate for last year's 33% increase in costs! "GOOD NEWS only for the rich - yes; but not for Joe American or the USA. The crash is coming as when Joe dies, so do you.

PS to Quad:
You are good at searching. I tried to find article My earlier post was based on, but failed. Please find some index of US only food and gasoline prices for approximately date GWB came to office and relatively recently the same data. Then with data for the same dates on the average US wage (also nominal or inflation corected) to see if I am correct or wrong in the strong belief that it has become much harder for "Joe American" to put food on the table and gas in his car under GWB. I do not know how you could get the data but I also bet that for people like Sandy who have been the primary class benefited by reduced capital gains taxes etc. and spend only a small fraction on food and gasoline, the reason they like GWB will be obvious. They became better off as Joe has lost ground. I know I have read that for the first time in a century, at least, the gap between rich and poor has widened under GWB.

BTW, at my second Economist ref above states:
"... That is why this year's price rise has been so extraordinary. Since the spring, wheat prices have doubled and almost every crop under the sun—maize, milk, oilseeds, you name it—is at or near a peak in nominal terms. The Economist's food-price index is higher today than at any time since it was created in 1845 (see chart). Even in real terms, prices have jumped by 75% since 2005. ..." NOT AS STRONG AS THE ONE I CAN NOT FIND BUT CERTAIN SUPPORTS MY SOMEWHAT VAGUE CLAIM WHICH YOU CALLED REDICULUS.
 
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Here, as an illustration of how GWB (and most Republicans) reward their rich friends, at the expense of "Joe American" who then pays more for fuel and food (two items that are not very significant expenses as percent of income for the rich) than he needs to (If the government worked for Joe instead of the rich campaign contributers to GWB and Republican party):

"...Senate Republicans and the Bush administration have clearly stated that they will block a final bill if it includes a $21 billion tax package, financed mostly by revoking $13 billion in tax incentives for big oil and gas producers. {21 billion is ref to Democrats bill that would tax oil industry and use resulting revenue to support alternative energy research etc*., but still not remove the import duties, etc. on cheap sugar cane alcohol from Brazil and others. - It now cost only half what gasoline does in Brazil even after correction for it lower energy content! Joe would like to cut his cost of driving by nearly 50% too, while helping to clean the air instead of polute it. More on this in thread "How DUMB can US Voters be?"}

We're not talking about actually taxing them, folks, we're simply talking about taking back some of those handouts they continue to get year after year, and putting that money into something that will strengthen our energy infrastructure . . . not just band-aid it until the whole jalopy implodes. Which you know damn well is exactly what's going to happen if we keep going down this oil-slicked road.

Yes, if Washington would pull its head out from that pile of oil-soaked money it's buried in and actually embrace the renewable energy integration this country so desperately needs, we could accomplish our goals of energy security, lower energy prices and a cleaner environment a lot faster. ..."

FROMtoday's:
Green Chip Review (a free Email service supporting alternate energy with editorials like this and links to new "green projects.") <gcr-eletter@angelnexus.com> Reply to that and it should learn how to get it sent to you, if interested.
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*For more details on bill Democrats in House passed but Republican Senate will kill, at least after GWB vetos it, if by some chance the Senators do also pass it. I.e. Republicans in "Big oil's pocket" can easily prevent override of GWB's veto in the Senate. See:
http://www.greencarcongress.com/2007/12/house-passes-en.html#more
 
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Billy T said:
Not mocking you. In fact in last post came to your defense. You may have done very well, but it is not possible to determine how much is luck and how much is skill and knowledge. (Or even how much is due to fact you are already in the rich class GWB is distributing benefits to.)
Yours is silly, "sloppy thinking" to call annual nominal wage gains of less than 5% (3,8% last year) "good news" when food prices are up much more. Probably you spend very small fraction of your income on food, but unfortunately the poor spend a very much larger fraction. So yes, I can agree that for the rich, GWB has been good (and they have been good to him with financial support) but for the average Joe American (and the US) GWB has been a disaster - worst president ever..... The crash is coming as when Joe dies, so do you.
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You forgot prayer. ANY success I have in life is from Him, not anything I did. I look at EVERY piece of good news and focus on it, not on the bad. This is the only way to go through life. My "sloppy thinking" has brought me a long way in every aspect of life. You can be a "woe is me, the sky is falling" person or you can stay focused on the important things and sail through any storm. President Bush has been the BEST POTUS ever. He has the b@lls to fight evil terrorists. There will be no crash. Not for me and mine. Not ever. :)

Kadark said:
I wonder why a sexy multimillionaire like yourself visits Sciforums.com.
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Because I have this new little toy that lets me be here 24/7 if I want and it's kind of fun.:)
 
sandy said:
You forgot prayer. ANY success I have in life is from Him, not anything I did. I look at EVERY piece of good news and focus on it, not on the bad. ...
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I am curious to know more about your POV on this. Are you familiar with the doctrine of Calvin? Basically it is very supportive of your attitudes - I.e. it is the poor's own fault and God's will that they are poor, even new borns starving to death in more than half the world. I.e. there are God "chosen people" and you can even recognize them by fact they are wealthy and normally so were the parents they were born to.

Is this your reason why God is helping you and not Joe American?
 
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