Economy Tracker

[Mr. Rainman]

If you're gonna talk economy, don't forget this giant piece of news that came out yesterday. Standard and Poors has downgraded the United States credit rating to AA+ from AAA...the first time it has been downgraded in the nation's history. Because of this, expect interest rates to go up slightly on loans, any credit card debt, mortgages, car loans...anything like that.

AKA: Be prepared for things to get a little more expensive.

[phw115wvwx]

If you're gonna talk economy, don't forget this giant piece of news that came out yesterday. Standard and Poors has downgraded the United States credit rating to AA+ from AAA...the first time it has been downgraded in the nation's history. Because of this, expect interest rates to go up slightly on loans, any credit card debt, mortgages, car loans...anything like that.

AKA: Be prepared for things to get a little more expensive.

But if you're trying to save money rather than spend so much, it may be a good thing as you'll see slightly higher interest rates on your checking, savings, and CD accounts.  I remember when I had a checking account earning 6% interest during the 90s.  Today, you can't find anything above 1% unless you want a long-term CD.

[TWCC_DJK5555]

I remember when I had a checking account earning 6% interest during the 90s.  Today, you can't find anything above 1% unless you want a long-term CD.

Sad, isn't it? 

And Bernanke still doesn't understand why what he's doing isn't working.  That guy needs to resign now.   

[TWCC_DJK5555]

Even George Soros thinks we're in a recession.

http://www.huffingtonpost.com/2011/09/22/george-soros-billionaire-investor-already-recession_n_975864.html

[Eric]

I remember when I had a checking account earning 6% interest during the 90s.  Today, you can't find anything above 1% unless you want a long-term CD.

I earn about eight-tenths of a percent in interest every month.  I know people with savings accounts at some banks who earn nothing, or as close to zero as one can get without actually being at zero.

[Mr. Rainman]

Breaking news from the airline industry: American Airlines, one of the oldest airlines in the United States, has filed for Chapter 11 bankruptcy after several years of financial struggles.

[Mr. Rainman]

A good reason why the stock market is never a good true indicator of a country's economy: the Dow today closed up above 13,000. The last time the Dow was at that level, our jobless rate was nearly half of what it is now.

[Zach]

A good reason why the stock market is never a good true indicator of a country's economy: the Dow today closed up above 13,000. The last time the Dow was at that level, our jobless rate was nearly half of what it is now.

They try to inflate the numbers like that all the time, though not all times that the stock numbers go up to such heights are they false readings (causing tremendous downfalls in short time), so it might really be at 13,000+ or it might not.

[Mike M]

A good reason why the stock market is never a good true indicator of a country's economy: the Dow today closed up above 13,000. The last time the Dow was at that level, our jobless rate was nearly half of what it is now.

It is an indicator, just not the sole indicator.

[phw115wvwx]

One big fact you have to keep in mind about the Dow:  It is only composed of 30 big companies.  Do you think that figure is representative of an entire economy of a country all the way down to the individual level?

[TWCC_DJK5555]

Gallup shows unemployment back up to 9.1%.   

Underemployment is 19.1%

[TWCToday]

One big fact you have to keep in mind about the Dow:  It is only composed of 30 big companies.  Do you think that figure is representative of an entire economy of a country all the way down to the individual level?

Very true. Its easy to point to the market and think things are going ok. However it does seem like things are improving!

Gallup shows unemployment back up to 9.1%.   

Underemployment is 19.1%

What is Underemployment? I kinda expected the numbers to increase after seasonal jobs ended for the Holidays. Still a shame

[twcclassics]

Underemployment is 19.1%

People who are forced to work part-time instead of full-time, as well as people who have given up on finding a job altogether.

[TampaMillTWC88]

Gallup shows unemployment back up to 9.1%.   

It is actually 8.3%.

http://www.huffingtonpost.com/2012/03/09/unemployment-rate-jobs-report_n_1334329.html

[twcclassics]

Obviously different surveys will come up with different numbers. Especially when one of those likes to talk about "saved" jobs.