Economic glass: Half-full or half-empty?
Is the economy really starting to turn? Or is it an illusion?
Consider:
– Metro Atlanta home prices are stabilizing, with at least one expert bullish on the upcoming quarter.
– Consumer confidence and consumer spending are up.
– The Dow is approaching 11,000.
But, there are still lots of problems.
Unemployment is very high, there are five job seekers for every opening in Atlanta and foreclosures are still setting records.
So, how do you see things?
Slow, steady progress? Continued trouble on the horizon? Both at the same time?
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92 comments Add your comment
John Birch
March 31st, 2010
1:01 pm
Today the government stopped buying bad mortgages. At some point the US will stop the huge welfare-like support of state and local governments. With home prices perhaps firming but still depressed and un/underemployment hovering around 17% the local governments will eventually lay off the employees they’ve kept on because of the federal handouts. Keep in mind that about 50% of the mortgages that got workouts will go back into default over the next few years and there is still a lot of downside potential.
Old McDonald
March 31st, 2010
1:01 pm
OH PRAISE THE GREAT OBAMA. THE SAVIOR!
Carlos
March 31st, 2010
1:03 pm
If the economy rebounds, GOP will say its because of the Bush administration. If not then they will blame Obama. They did the same thing with Clinton.
Its half full, things are not perfect but improving gradually. It won’t be until mid 2011 when we will know.
Is it that Obvious?
March 31st, 2010
1:04 pm
@ Obammy Mammy
My wife and I are doing quite well thank you very much. Hence me owing 62K in taxes this year. Again you seem to be just a bit Angry. While it is easy to be brave behind a keyboard I won’t stoop to your level.
Did you read my post?
I said it’s not the best formula. But it is better than nothing! There are legitimate people who need help. Again, I admit there are a lot of slackers and they need to be dealt with. But until something better comes along then we need to concentrate on making what we have better. How many of you have actually read the Health Bill? That’s what I thought, so how can you be for or against it? If you are only going by what the pundits (on either side) the you are “stupid” for not doing your own research.
Stupid and lazy, In fact you are exactly what you are railing against.
Alright
March 31st, 2010
1:11 pm
Jerry- You are an idiot. If you can prosper off the less than $300/wk unemployment pays, or tolerate the substandard care given to medicaid recipients, and fill out the paperwork that forces you to lie about your income in order to feed your family with food stamps, I wish you luck. Only idiots believe that people who pay the same taxes the you pay do not deserve to benefit from the programs designed to help those who are not in the position to get hired by their family or friends or can create their own jobs. Pray that your life does not ever change.
Old McDonald
March 31st, 2010
1:13 pm
Alright, you lie! They don’t pay taxes!
Is it that Obvious?
March 31st, 2010
1:15 pm
1 more for Obammy Mammy.
I am a devout Christian by the way. And my faith teaches me to be tolerant and practive compassion. So while I HATE paying what i think is more than my fair share of Taxes I don’t begrudge any one else help when they need it.
As for you apparent slight towards homosexuals, I personally don’t agree with the lifestyle, but that’s my choice based on my faith. I don’t try to belittle others with “Internet bravado” and make comments that I don’t have tsuffer consequences for. You and Libby should probably hook up. It seems you both drink the same kind of Tea!!
Is it that Obvious?
March 31st, 2010
1:17 pm
Again………….”But for the Grace of God go I”
Think about it.
Learn It.
Live it.
Let go of the anger.
Stop being a Douche!!
Gman
March 31st, 2010
1:23 pm
I have said it before…….
We are all up the creek – and I used our paddles for kindling wood this this past winter. My bad…..
Libby
March 31st, 2010
1:31 pm
“If the economy rebounds, GOP will say its because of the Bush administration. If not then they will blame Obama. They did the same thing with Clinton.”
I know, aren’t those Repulicans hateful! President Clinton deserves credit and respect for NAFTA and Community Reinvestment! If it wasn’t for President Clinton, I would never have had the American Dream for a few years. As Bush was leaving office I got foreclosed on and he was to blame for that not me! And now ObamaGod is giving me ObamaCare! The money I was going to be forced spend to take care of myself is now going towards daily trips to the mall! The economy is improving under ObamaGod! Haters must give him credit!
bulldawgrick
March 31st, 2010
1:32 pm
Definately an illusion & if you think otherwise you are dillusional…
Would ANY of you pay 4 years for a house before you can see or live in it??
Would ANY of you pay 4 years for a car you have not driven or seen??
I also have a question…
Now OBummer says it’s OK to drill for oil offshore & the media & Bummer’s sheep thisk it’s a great idea.. Where the heck have all the sheep been the past 20 years??
I pray that the mantra come this Fall is:
In November – We Remember…
Remember that more than 70% of the American people DID NOT agree on this trillion $ abortion…
Let’s hope there’s time enough to overturn all this in ‘10 & ‘12!!!
jerry
March 31st, 2010
1:37 pm
To Alright,
For your information,I
Bill
March 31st, 2010
1:39 pm
This reminds me of a time not so long ago, when rich white southerners convinced poor white southerners that the biggest threat to them was blacks. Conflict between blacks and poor whites allowed rich whites to exploit both groups.
Today, It is multinational corporations and investment bankers who are exploiting the middle class. Are we mad at them? No (well maybe a little bit) they have convinced everyone that government is the problem.
The current problems in the economy did not originate last year or 4 years ago or 8 years ago. The source of the problem is in the early 1980s, when we started to dismantle the system of banking regulation that had worked well for nearly 50 years. Since that time, we have had multiple bubbles, and multiple economic emergencies. Reinstate Glass-Steagall.
jerry
March 31st, 2010
1:40 pm
For your information, I am a gay male withs lots of money, just saying I could still financially benefit from our society without working!
Bill
March 31st, 2010
1:41 pm
Bulldawgrick -
Where did you get 70%? Did you make it up, or have you been listening to the screamers on cable. At the time of passage, most polls showed about 48% of Americans in favor, and 46% opposed.
Alecia
March 31st, 2010
1:43 pm
Mr obvious has a point. However,small business owners really have it tough. Unlike everyone else out there, the self employed cannot collect unemployment and usually have too much in assets(usually real estate) to collect anything else from the government. I feel sorry for the self employed that are operating at a loss and cannot liquidate their assets.
On the other hand, I had to listen to another parent the other day brag about getting section 8, food stamps, and free piano lessons. This individual had the audacity to say that those working and paying taxes are stupid and that he loves the government. The entitlement attitude needs to stop. I remember when people were embarassed to use food stamps or any other welfate entitlement program. Now it’s a badge of honor. Pathetic! Why should a person work when they can get a sec. 8 voucher for $1300-$1800/mo, $600 in food stamps, WIC, free child care($200/wk), medicaid(worth $1k/mo), and a TANF check to boot. These are just a few items off the top of my head. There are folks bringing in $3,000 net off the gov’t each month just from sec. 8,TANF,and food stamps. That’s equal to atleast $4500 gross/mo or $54k a yr. Unfortunately, those evil capitalists are the ones paying for this with higher taxes. Those evil capitalists bring jobs and are scared to expand or hire, due to rising taxes caused by the moocher class.
Libby
March 31st, 2010
1:44 pm
Yeah, they put the Shopping Divas picture back up!
I'm just sayin'.....
March 31st, 2010
1:44 pm
Wake up up! Bulldawgrick is right. Get you head out of, uh, the sand. Educate yourself on facts, not fuzzy lib info.
bulldawgrick
March 31st, 2010
1:46 pm
Libby – You must be a Fool, but that’s not till tomorrow… Clinton is the one that allowed the hosuing market to blow up & allow many that could NOT afford home ownership (or bought much more than you yould afford)… That illusion blew up during the Bush years because it was time to pay up on those ARM’s that no one thought would end…
I pray for your soul – calling the Muslim community organizer one term socialist Obummer, god..
May God save your soul…
Bill
March 31st, 2010
1:48 pm
I concede, you guys are right. Anyone weak enough to get sick deserves to lose everything (including healthcare). Anyone lazy enough to get laid off, deserves to starve. Just so I don’t have to pay taxes.
Doofus
March 31st, 2010
1:51 pm
I agree with those who practiced living within (some well within) your means. I don’t doubt that housing prices have stabilized but that’s after a 20-25% decrease over the past oh let’s say 14 months. Since sustainability now seems to be all the rage, I suggest this administration show some leadership and quit giving the farm away to every social program imagineable.
Bill
March 31st, 2010
1:51 pm
There seems to be a clear inverse relationship here between rational argument supported by data, and name calling. If you don’t have a solid argument, or solid support for your argument, just turn up the volume. Make it all caps. Make it bold. Think up silly new names.
atlengineerguy
March 31st, 2010
1:56 pm
I saw the Pulte sign in the picture. If they are coming back market wise, get ready for some lunarscape clear cutting, shoddy built homes and crummy customer service. They have truly added to the uglification of metro Atlanta. PLEASE STAY OTP!!!
bulldawgrick
March 31st, 2010
2:00 pm
Bill – OK it’s 66% But I have seen others that were higher.. This is one I found quickly (just for you)
Nearly two-thirds of Americans say the plan costs too much and expands the government’s role too far into a private industry, according to a USA Today/Gallup survey published on Tuesday.
http://www.reuters.com/article/latestCrisis/idUSN30166531
Libby
March 31st, 2010
2:07 pm
“I concede, you guys are right. Anyone weak enough to get sick deserves to lose everything (including healthcare). Anyone lazy enough to get laid off, deserves to starve. Just so I don’t have to pay taxes.”
I heart Bill. You are such a caring, compassionate soul like me. We believe all the tales people tell us. People that get sick always loose everything, they have a Right to be healthy and wealthy! All jobless people are starving! We should take care of everyone who can’t take care of themselves! There should be guarantees in life against such horrible things and responsible people should pay the price! Trickle Down Economics is horrible, Trickle Up Poverty is the way of our future! We must be compassionate and believe all the stories and takes everyone tells us! KoolAid all around! Hail ObamaGod Hail!
Is it that Obvious?
March 31st, 2010
2:07 pm
Bill. Great Point. Those who have little real data or information to stand on seem to be trhe angriest. What ever happened to civilized debate based on facts and not emotions.
Libby
March 31st, 2010
2:11 pm
“Bill – OK it’s 66% But I have seen others that were higher.. This is one I found quickly (just for you)
Nearly two-thirds of Americans say the plan costs too much and expands the government’s role too far into a private industry, according to a USA Today/Gallup survey published on Tuesday.”
Bulldawgrick, ObamaGod does not have to listen to the people, the people listen to ObamaGod. ObamaGod gives us ObamaCare and for that we should be eternally grateful and worship him!
I bet you drink Tea, dont you?
Libby
March 31st, 2010
2:14 pm
“Bill. Great Point. Those who have little real data or information to stand on seem to be trhe angriest. What ever happened to civilized debate based on facts and not emotions.”
Good data and statistics are always in favor of the Democratic Party! Tea makes people angry and KoolAid has a nice calming effect on the heart and mind!
TheRealDeal
March 31st, 2010
2:17 pm
I love how you want to blame Obama for all the problems that we are having. Bush is the one how put us in this situation, but our county in a war that we shouldn’t be in. Deregulated all the big businesses and Banks, so that they could make the most profit and not look at the long term(Mortgage,Investment Companies). This is Bushes stimulis package that Obama had to work with. Were was the Tea Party, when he turned the other way, knowing that he was on his way out of office, with no apologies. Why didn’t you have signs out over where then? I hate that you all have short term memory. Obama, has done more in one year than Bush did in eight years. This mess was not done overnight and will not be fixed over night. Take that to your Tea party meeting. Dummies!
Libby
March 31st, 2010
2:21 pm
“There seems to be a clear inverse relationship here between rational argument supported by data, and name calling. If you don’t have a solid argument, or solid support for your argument, just turn up the volume. Make it all caps. Make it bold. Think up silly new names.”
Bill, I feel your pain and agony! How did the Republicans get away with threatening messages and bricks through windows after ObamaCare OVERWHELMINGLY passed in the the HOR? ObamaGod gave those people nothing in return for their UP votes, his Godlike vision led them to do the RIGHT thing! Bill, you and I need to demand that those dometic terrorists be sent to prison immediately for their hate voice messages and bricks through windows! Our ObamaGod must not be forsaken!
ATLien
March 31st, 2010
2:26 pm
It’s not over! Remember, a lot of those sub-standard loans have not reset, yet. Expect more to come in 2010, 2011, and 2012.
Libby
March 31st, 2010
2:27 pm
“Obama, has done more in one year than Bush did in eight years. This mess was not done overnight and will not be fixed over night. Take that to your Tea party meeting. Dummies!”
TheRealDeal, I have heard those words a million times but coming from you it’s like I’m hearing poetry for the first time! Your words are so original and all inspiring! Isn’t our KoolAid such a magical drink?
Hey Holyfield
March 31st, 2010
2:41 pm
It seems that the Real Deal is the Dummy with the short term memory, and probably didn’t get an A in history either. FDR created the first socialist programs, which are really bankrupting this country directly and indirectly. Then the worst US president in history was GA’s very own Jimmy 90% tax rate peanut farmer, who had to sell the presidential yacht to make some cash. The Bush family wasn’t great, and yes W although claiming to be a conservative, was part liberal; but I am pretty sure th Osama, KSM, and the other terrorists are the ones that kind of started this war.
Tim
March 31st, 2010
2:44 pm
Whats with the savage dialog between all you folks? Is this a southern thing?
jd
March 31st, 2010
2:47 pm
The economy is going down, but the idiocy/hypocrisy among Republicans has gone way up along with the fecklessness of Party Democrats.
Translated, that means the declining number of Republican voters AND politicians are crazy, and most Democratic politicians have divorced themselves from Democratic voters. Which is why they like their Republican buddies, are so easily bought by big business.
Hey Holyfield
March 31st, 2010
2:50 pm
Who drives this economy? Is it the lazy ass Moochers or the hard working capitalists (Bill Gates down to the owner of a laudry mat)? We definitely know who pays the taxes, and which group benefits the most from those taxes!!! Medicaid needs to go. We need more police and judges that are willing to punish criminals to the fullest extent of the law. No more free rides, you want Medicaid or other handouts; then you must sign up for at least 4 years active duty.
Hey Holyfield
March 31st, 2010
2:54 pm
Anyone ever wonder why there are so many liberals writing comments? They are lazy and probably not working, they are just waiting to get Obama’s money (ie. taxpayers hard earned cash).
Is it that Obvious?
March 31st, 2010
3:49 pm
The inability for all of us to have an intelligent policy conversation and the propogation of misinformation is the cornerstone of what is wrong with our political system. I don’t care about an individual’s opinion, only that we can have a conversation without supposition, innuendo, lies, and threats. I’m completely open to the idea that the Act is wrong, but only if someone convinces me using arguments and facts, which seems woefully unlikely right now in our country.
RH
March 31st, 2010
3:53 pm
Obama’s financial legacy is unfortunately in the infancy stages. We only have 3 years to go thank goodness – that’s a glass one quarter of the way full or three forths of the way empty!
bulldawgrick
March 31st, 2010
4:13 pm
Obvious… I agree.. How bout the fact that OBummer bribed House & Congress members for their vote to pass this ill concieved legislation?? It’s a fact..
Mike Burgelin
March 31st, 2010
6:14 pm
I own a nationwide Employee Leasing/PEO brokerage, http://www.employeeleasingquotes.com – and spend each day talking with employers from all over the country. People think it’s a joke when they hear through media outlets and the feds that things are getting better.
No Jobs!
March 31st, 2010
7:19 pm
Laid off 8 months ago from a marketing support job—sent out 400 resumes, applied to every job possible, no luck. The economy is not getting better, no matter what they say in DC—it’s all BS. The last job I applied for, at a salary way below what I was making—they had 4,000 people apply, and got tired of looking at resumes and cut it off after a few hundred. That’s the job market. Hope and change—total failure.