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Originally Posted by justindew
Listen to the evidence people put forth to "prove" that the economy is bad. The housing market, for instance. Housing prices are higher now than they were five years ago. Yet no one suggests that the economy was bad five years ago. So a small percentage of people who never should have owned homes to begin with are going to lose their homes. Big deal. They aren't going to be homeless. They will become what they should have been all along: renters. And at some point in 2008 or 2009, the housing market will level off and prices will slowly start to go up again. Now, if you stupidly purchased a home that you could not afford as an investment in 2005 and hoped to flip it to make a profit, you are probably going to get burned. Does that mean the economy is bad? Only if you are looking to make excuses. If you purchased a home that you COULD afford with the intention of living in it for the duration, you have zero to worry about. This is a fact.
As I have said all along, it's a matter of perspective. Americans have very, very short memories. And they got used to the way things were for the last 10 years: easy money and limited consequences. Compared to the last 10 years, the economy is bad. However, the last 10 years were a joke, and not representative of the way the world, our country, or our economy works. People with an ounce of perspective (or proper education) know this. People who steal their thoughts from the media, or who base their opinions on ridiculous measures like gas prices and the temporary slowdown in the housing market, do not know this. You say the middle class is struggling? Well, maybe that's because too many people run up insane amounts of credit card debt making purchases they can't afford while living a lifestyle that is irresponsible. The problem is it's easier to blame someone else, like the president, than it is to assume responsibility.
Economies on the local, national, and worldwide level, experience booms, busts, and everything in between. Right now, the economy is "fine". It isn't super. It isn't even "better than average" or "good". But it is fine. Sort of like a guy who breaks his leg. The doctor tells his family "He's fine." That doesn't mean he's in perfec health. But there is nothing to worry about.
Yet another recent poll I saw said it best. The majority of Americans think we are in a recession. But it is an indisputable fact that we are NOT in a recession. The numbers simply say otherwise. But since perception is reality in America, this country is in full-on panic mode.
Again, the original comment was "the economy is bad." That is what I was refuting. And I am correct.
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