RateItAll: The Opinion Network

Sure it is.

nyuk, nyuk, nyuk.

The economy is booming for the have lots--not the have nots........

So this "recession" I hear everyone talking about is just some crazy street slang for "economic boom". Kids these days...

Tell that to what I spend on gas every week...

Rightly so.

And if I rack up reckless amounts of debt on my credit cards too, I can make people think I'm more prosperous than I actually am as well.

Economic statistics have been 'Enronized' to some extent, but even most skeptics admit that the economy is experiencing rapid growth. There are two caveats however: 1. It's running on borrowed (Chinese) money; 2. The growth is concentrated in the non-export sectors of the economy. This means it's not going to last, and the resulting hangover is going to be very, very unpleasant.

This "booming" economy is unstable because of rising fuel costs, rising inflation, threat of terrorism, the policies of the Bush administration, etc. It gives most a false sense of security in very insecure times. The rich keep getting richer and the middle class is being pushed and shoved to the brink of extinction.

Only for Halliburton,Lockheed Martin,KBR,Exxon and other nefarious corporations.For those Americans who work to support themselves and their families,the Economy bites a big one.

Gotta second CanadaSucks on this one too. Conservatives are constantly crowing about the "booming economy"...they must be talking about that 7% of the population who own 94% of the nation's wealth. For the average person who has to work for a living? Got news for you...it isn't booming; it's barely squeaking. In the 1960's, a person could be working-class and still make enough to buy a house. Today? Are you kidding? The divide between rich and poor becomes wider and wider, as the middle-class becomes a distant memory. Now we have a new class..."working poor." These are people who work 6-or-7 days a week and still don't have enough to rent an apartment. More and more jobs are becoming obsolete as corporations outsource to 3rd-World countries. Health care is a joke (albeit an unfunny one). "The American Dream" for an increasingly large number of people has become winning the lottery.

The average price of a home today is way out of proportion to what people earn. It takes two incomes to survive- not thrive and invest or save with any real prospects. And one health care disaster can bankrupt a family. . .which causes far more bankrupcies that your alleged liberal media cares to admit. Oh, college costs are a real bargain too. . .And don't forget- major companies cry and then bail on promised pensions! Booming economy? "Real Wages"? Take a trip to Disneyland. . .

The economy is strong overall, but there are some troubling signs up ahead, including higher interest rates and inflation. The dollar is weakening rapidly vis-à-vis other currencies, so much so that the Chinese central bank has decided to begin using the Euro as a reserve currency. Apparently international bankers are not as confident in the US's financial system, particularly in light of our high budget deficits along with higher government outlays. From a microeconomic standpoint, personal savings are also way too low. Sure, some sectors like real estate remain hot, but there are problems that can affect the overall economy.

It is, but it's just as wrong to give Bush credit for it as it was to accord Clinton credit for his good fortune. This is not a defense.