Could somebody explain how the economy has gotten better?

coloradodem2005

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Sun Dec-14-03 12:23 PM
Original message

Could somebody explain how the economy has gotten better?

Yes I know the Dow briefly went over 10,000 and the GDP went up 8.2%.
The job market is still bad though and yet everybody is claiming victory on the economy. It does not sound or feel like the victory is as great as they make it out to be.

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unblock

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Sun Dec-14-03 12:25 PM
Response to Original message

1. job market is always last to improve

Edited on Sun Dec-14-03 12:26 PM by unblock

corporate profits pick up first, then corporations rehire once they can be reasonably sure of good times ahead.

this is the way of pretty much all recoveries.

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cosmicdot

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Sun Dec-14-03 12:28 PM
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2. this should be interesting

corporations have been laying off for a good 10 years +/-

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OneTwentyoNine

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Sun Dec-14-03 12:29 PM
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3. Ask 300 more aviation workers here in Wichita

They'll be out of job around Christmas or the first of the year at Bombardier,their jobs are going back to Canada. And of course our wonderful City Commissioners gave Bombardier loads of tax breaks and the union gave some concessions.

Means nothing to corporate America--even when the home office is in Canada. Its all about profits and little about workers. Proven time and time again when Repukes run the Country.

David

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bluestateguy

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Sun Dec-14-03 12:29 PM
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4. A Wall Street recovery vs. a real recovery

Understand that people in this Administration and on Wall Street view economic recovery very differently than you or I. To them economic recovery is all about corporate profits, low inflation, higher GDP and a higher Dow Jones. To ordinary people economic recovery means higher wages for working people, people leaving poverty and an abundance of good paying jobs. We have the former, but I see little evidence yet of the latter.

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unblock

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Sun Dec-14-03 12:30 PM
Response to Original message

5. oh, and economic pickup is, indeed, not so stellar

much of the gdp surge is due, directly or indirectly, to government spending, mostly on war and such.

therefore, not only is it not sustainable, but the benefit isn't well distributed in the economy. what i mean is, it's not like every sector improved by 8.2%. rather, defense improved by some insanely large amount while other sectors stagnated.

so, the other sectors are not so likely to resume hiring anytime soon. but bully for you if you work in defense....

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