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Cutey with a booty

Bush says our economy is "strong" to withstand current crisis? Agree or disagree? Thoughts?

http://www.msnbc.msn.com/id/26718278/What I wonder... if our economy right now is "strong"... when exactly is our economy ever "weak" then?
MaggieD:

Hi, AChoi. As long as the government is able to throw money at the problem, we're strong enough to withstand it. I will point, however, that Bush did NOT say our economy is strong. What he said was: "Sept. 15: President Bush says he is confident the economy is strong enough to withstand "adjustments" in the financial markets." From your link. Our economy is NOT strong. Our economy is in serious difficulty.

Cutey with a booty:

Just the facts please.
Unemployment rate is at 10 year high, month to month inflation at 10 year high, tax rates.. can't find statistics on that.
See the statistics from department of labor website:
http://data.bls.gov/PDQ/servlet/SurveyOutputServlet

Custom:

As long as the treasuries printing presses do not fail is what GB thinks ... everything will be ok! He has not even heard his own mother say "Just say no"
To some of us with an IQ however we are in DEEPDODO!

Armyboy:

Frankly, the President, nor the head of any other major organization (private or government) can say otherwise. To say anything less positive to that would instantly send the markets into a tailspin and trigger a self-fulfilling prophecy.

For example, if you are talking to someone going into major surgery - you have to tell them it will be OK, even if you know that the odds aren't that great. If you tell them the true odds, they probably would die or not recover.

Many people don't understand that the financial market is based mostly on trust and psychology.

Cutey with a booty:

Yes indeed. I am glad he didn't take the opportunity to attack the Democrats. Perhaps the tiger is sensing the end...

Studentcredit:

STRONG??? did he read the headlines this morning??? wall st. took another dive and it looks like the Bank of America is going to swallow up another company....doesn't this scare you that so few banks control so much?

Royboy:

if we're trillions in debt, what do you think?

Samuel Deva:

time tested "boom or bust" economy... sit back and watch things rebound --- it will !!!

LusnIca:

There are positive and negative signs in the economy. Unemployment is low (only about one-tenth of a percentage point higher than the average since WW II), inflation is low, taxes are low. There is a world-wide demand for pharmaceuticals, which we are uniquely equipped to supply, since we are one of the last major industrial nations with private health care. There is a huge demand world wide for American products (HBO, CNN, movies, music, war paraphernalia, and etc.)
But on the negative side, we have too great a dependence on foreign oil. The national debt is 9.4 trillion, and still growing. We have a debt service of around 485 billion dollars per year. And the only reason our debt service is that low, is because interest rates are low. What we can't afford right now, is inflation. Inflation could cripple us, plain and simple. If the prime rate rose to 20% (as it did under Jimmy Carter, in the late 70's), debt service would rise to around 2 Trillion dollars a year. Roughly equal to all of the revenue we currently take in, from personal income taxes. In that event, we would either have to cancel all government programs (Social Security, Medicare, close our military bases and post offices, etc.), or literally double taxes. Anyone feel that they're not paying nearly enough taxes?
 

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