Suppliers cut retiree health care
In most drastic move yet, Metaldyne eliminates coverage, raising workers' fears
http://www.detnews.com/2005/autosinsider/0.../A01-163981.htm
Auto supplier files bankruptcy
Meridian blames GM, Ford output cuts, cash flow problems in seeking protection.
http://www.detnews.com/2005/autosinsider/0.../D01-163652.htm
Full Version: Great News from the USA auto industry!
GM is rapidly losing money, they paid billions to get out of the Fiat - Lancia - Alfa Romeo deal, the public is not accepting their product lines that are off track with the markets, they have a huge problem with some Chevrolet and GMC engines because they used cheap, inferior gaskets that can cause visible coolant leaks and coolant leaks into the engine oil. In three years it will be their 100th, and they don't even know what year the first Chevrolet was made.
How does this indicate the economy is doing poorly? Stacked up against the simple facts:
We have low inflation
We have low interest rates
We have a 5.1% national unemployment rate, lower than the average rate of the 1990s
We have a dow above 10,000
We have had twelve straight quarters of Economic growth
It doesn't indicate much.
We have low inflation
We have low interest rates
We have a 5.1% national unemployment rate, lower than the average rate of the 1990s
We have a dow above 10,000
We have had twelve straight quarters of Economic growth
It doesn't indicate much.
We have low inflation
Not anymore
We have low interest rates
That is changing, as its the only way the feds can keep the dollar from a free fall
We have a 5.1% national unemployment rate, lower than the average rate of the 1990s
low paying McDonld's-like jobs. Also jobs created by the military to attack defenceless poor nations
We have a dow above 10,000
That bubble is doing down, don't worry
We have had twelve straight quarters of Economic growth
Not really, you need to back up your claims. USA has lost millions of high-paying, high-tech jobs to China and Inda, sooner or later, it will catch up, and we are seeing it now.
Not anymore
We have low interest rates
That is changing, as its the only way the feds can keep the dollar from a free fall
We have a 5.1% national unemployment rate, lower than the average rate of the 1990s
low paying McDonld's-like jobs. Also jobs created by the military to attack defenceless poor nations
We have a dow above 10,000
That bubble is doing down, don't worry
We have had twelve straight quarters of Economic growth
Not really, you need to back up your claims. USA has lost millions of high-paying, high-tech jobs to China and Inda, sooner or later, it will catch up, and we are seeing it now.
Have never seen the McDonalds job claim backed up before.
Economic Growth Not going on anymore? False. It has slowed down from it's peak, but the economy is still rising: http://www.whitehouse.gov/fsbr/output.html
Inflation rates and Interest are of course not ideally low. It is to be expected with the advent of the Global Economy. The Clinton years were the calm before the storm, but with the rise of the EU and China the global economic stage has been flatten. The US can never expect to enjoy the kind of global economic dominance it had in the Eightes and Nineties again. It doesn't signal the fall of the United States, it signals the flattening of the playing field.
For more on this check out "The World is Flat" By Thomas Friedman.
Current DOW: Fluxuating, not dropping. Still staying over 10,000: Today's Dow was 10,070. Not a great day. Last Sunday however, the NYSE (still unshakably, by the way, the center of the world economy) had the best day it had had in two years. http://www.nyse.com/
Final Conclusion: The United States is experiancing a period of Economic Mediocrity. It will recover. But to expect the United States to ever have the kind of dominance it enjoyed with Reagan and Clinton is fantasy. The flattening of the global playing field will not allow it.
Economic Growth Not going on anymore? False. It has slowed down from it's peak, but the economy is still rising: http://www.whitehouse.gov/fsbr/output.html
Inflation rates and Interest are of course not ideally low. It is to be expected with the advent of the Global Economy. The Clinton years were the calm before the storm, but with the rise of the EU and China the global economic stage has been flatten. The US can never expect to enjoy the kind of global economic dominance it had in the Eightes and Nineties again. It doesn't signal the fall of the United States, it signals the flattening of the playing field.
For more on this check out "The World is Flat" By Thomas Friedman.
Current DOW: Fluxuating, not dropping. Still staying over 10,000: Today's Dow was 10,070. Not a great day. Last Sunday however, the NYSE (still unshakably, by the way, the center of the world economy) had the best day it had had in two years. http://www.nyse.com/
Final Conclusion: The United States is experiancing a period of Economic Mediocrity. It will recover. But to expect the United States to ever have the kind of dominance it enjoyed with Reagan and Clinton is fantasy. The flattening of the global playing field will not allow it.
Jobs created are in the service sector... Not good!
http://news.bbc.co.uk/2/hi/business/3594109.stm
Like I said Benny-T, while the GOP lunatics think that an economy will run by doing each other's laundry, then right wing lunatics are even more stupid then what people give them credit for.
http://news.bbc.co.uk/2/hi/business/3594109.stm
Like I said Benny-T, while the GOP lunatics think that an economy will run by doing each other's laundry, then right wing lunatics are even more stupid then what people give them credit for.
http://news.bbc.co.uk/1/hi/business/4480897.stm
When the US economy slipped into decline, people started borrowing to sustain their previous life styles, assuming they would repay the loans when the economy improved. But the economy didn't improve, and cannot improve with manufacturing headed for tax-friendly shores, and Bush borrowing and spending cash on war. So, home owners cashed out their equity to pay off credit cards. Now the equity is gone, home owners are flipping real estate back and forth (see comment about property being resold in the same day) to run up the price. This creates an artificial equity on which yet more cash out loans can be taken.
But like any other financial craze, the good times roll only so long as new money can be brought into the bottom of the system. Low interest loans are the lure to new buyers, but the problem isn't that people do not want to take advantage of the new loans, it's that they are less than sure they can make the payments as the economy continues to decline.
There is a phrase to keep in mind. It's "negative equity". That is what happens when a home-owner owes more on the house than the house is worth. Even selling the property does not erase the debt (remember that bankruptcy reform bill).
When the real estate bubble bursts, all those property owners who flipped up the value of their homes and then cashed out that artificial equity are going to be in a real mess.
When the US economy slipped into decline, people started borrowing to sustain their previous life styles, assuming they would repay the loans when the economy improved. But the economy didn't improve, and cannot improve with manufacturing headed for tax-friendly shores, and Bush borrowing and spending cash on war. So, home owners cashed out their equity to pay off credit cards. Now the equity is gone, home owners are flipping real estate back and forth (see comment about property being resold in the same day) to run up the price. This creates an artificial equity on which yet more cash out loans can be taken.
But like any other financial craze, the good times roll only so long as new money can be brought into the bottom of the system. Low interest loans are the lure to new buyers, but the problem isn't that people do not want to take advantage of the new loans, it's that they are less than sure they can make the payments as the economy continues to decline.
There is a phrase to keep in mind. It's "negative equity". That is what happens when a home-owner owes more on the house than the house is worth. Even selling the property does not erase the debt (remember that bankruptcy reform bill).
When the real estate bubble bursts, all those property owners who flipped up the value of their homes and then cashed out that artificial equity are going to be in a real mess.
Three things/
1.) Don't double post.
2.) You seem to have a poor idea of what the service sector is. The economy is divided into two sectors, Service and Manufacturing. Any job that involves performing a service for someone is Service sector. For example, If you are a Doctor, you have a service sector job. Just saying that the majority of jobs created in the service sector proves nothing except that factory jobs (or manufacturing sector jobs) are declining in the US.
3.) The third thing you posted is an Op-Ed piece. It presents one side of the story, or an OPINION.
1.) Don't double post.
2.) You seem to have a poor idea of what the service sector is. The economy is divided into two sectors, Service and Manufacturing. Any job that involves performing a service for someone is Service sector. For example, If you are a Doctor, you have a service sector job. Just saying that the majority of jobs created in the service sector proves nothing except that factory jobs (or manufacturing sector jobs) are declining in the US.
3.) The third thing you posted is an Op-Ed piece. It presents one side of the story, or an OPINION.
QUOTE (Ben-T @ Apr 29 2005, 01:19 AM)
Three things/
1.) Don't double post.
2.) You seem to have a poor idea of what the service sector is. The economy is divided into two sectors, Service and Manufacturing. Any job that involves performing a service for someone is Service sector. For example, If you are a Doctor, you have a service sector job. Just saying that the majority of jobs created in the service sector proves nothing except that factory jobs (or manufacturing sector jobs) are declining in the US.
3.) The third thing you posted is an Op-Ed piece. It presents one side of the story, or an OPINION.
1.) Don't double post.
2.) You seem to have a poor idea of what the service sector is. The economy is divided into two sectors, Service and Manufacturing. Any job that involves performing a service for someone is Service sector. For example, If you are a Doctor, you have a service sector job. Just saying that the majority of jobs created in the service sector proves nothing except that factory jobs (or manufacturing sector jobs) are declining in the US.
3.) The third thing you posted is an Op-Ed piece. It presents one side of the story, or an OPINION.
1. I can do what I want (land of the "free")
2. I bet the farm (no pun intended) that this "service economy" will not last 4 years.
3. The second post is based on the first, its not a theory, its pretty much reality and Dubya has no clue what to do about it
QUOTE (OsManli @ Apr 28 2005, 06:35 PM)
1. I can do what I want (land of the "free")
2. I bet the farm (no pun intended) that this "service economy" will not last 4 years.
3. The second post is based on the first, its not a theory, its pretty much reality and Dubya has no clue what to do about it
2. I bet the farm (no pun intended) that this "service economy" will not last 4 years.
3. The second post is based on the first, its not a theory, its pretty much reality and Dubya has no clue what to do about it
1.) Sure you can do whateve you want. But you are breaking forum rules, and using the edit button would become you much more.
2.) Nobody cares how many farms you bet. Facts sir, facts.
3.) It's an op-ed column. It's not pretty much reality, it's pretty much that guy's opinion. They call it Op-Ed for a reason.
These are links to Partisen Op-Ed journals.
Useless as real evidence.
Useless as real evidence.
OsMan, the best news to come out of the Auto Industry right now is the fact that after a period of 35 years, Ford has finally come out with the 1971 Mustang. I wonder what took them so long? You ARE a Ford man, aren't you?
Have you learned nothing Roadster?
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