Seventy Percent of Americans Say Economy Is Getting Worse

Source: Gallup Poll

PRINCETON, NJ -- Food and gasoline prices both rose last month. At the pump, gas prices increased about 10% in May and are up almost 40% since January. In addition, average weekly wages for non-supervisory workers fell, after adjusting for inflation, for the second consecutive month in May. At the same time, the stock market continues at record highs and manufacturing output is edging upward, making factories a tad busier this year.

Such conflicting economic reports make it difficult to explain exactly why Gallup's June reading of Americans' economic views remains as negative as seen in May. A modest one in three Americans rate the economy today as either excellent or good, while the percentage saying the economy is getting better fell slightly, from 28% to 23%. Fully 7 in 10 Americans now say the economy is getting worse, the most negative reading in nearly six years.

For the first time this year, a majority of Americans are negative about the employment market, saying it is a bad time to find a quality job. Generally however, this measure remains more positive than in the period from 2002-2005.

Read more: http://www.galluppoll.com/content/?ci=27922

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:freak: 6 years behind the information curve. :spank:

loyal/delusional 30% need some serious psychiatric help.

continue to rise, food prices continue upward, gasoline has settled in ABOVE $3.00 a gallon and the value of the dollar and its purchasing power continues to decline. Anyone that wants to remove their phony rose colored wall street goggles will find a drastically different American economic reality.

:eyes:

Sweet Jesus...

The market is mostly up because of mergers, which leads to layoffs.

The other big reason is because of the anticipation of an increase in the Fed interest rate.

Anyone who even browses the business section of their local newspaper knows this.


As far as manufacturing output goes, the industry is still laying off workers. Every month this year has seen a decrease in the number of manufacturing jobs.

The stocks for companys with heavy overseas investments are doing well?
Could be, that offloading Americun jobs has created wealth for the Americun corps?

Mostly only the rich benefit from the present market. The elderly, who may see some increases in their retirement portfolios, are seeing those increases sucked away by surges in energy & food prices. It's entirely possible for the economy to go completely to hell during a rising market in today's multinational environment.

convince us that the economy is great! They think the DJIA and some statistics massaged by Bushies tells the whole story. Perhaps they aren't concerned that local governments are raising taxes by increasing appraised values on property, people can't afford to drive, ad the price of food is going up astronomically. I can't figure out how they personally would be affected by any of that.

Even a C span recent "Round Table" of Americans discussing politics (Democrats and Republicans both)

They ALL said that the economy is great!

And it is - if you are a share holder. Or as many baby boomers are experiencing, you have just inherited your Mom and Dad's house.

But for everyone else, it sucks!

and no, I'm not forgiving Fox viewers for having their heads up their asses.

The feds need to raise interest rates to boost the dollar from sinking further and to stave off inflation that is rising because of escalated energy costs. Yet, if they raise rates the housing down turn will turn into a free fall economic nightmare.

The interest on the national debt is beyond breathtaking. Our manufacturing base has evaporated.

It's the perfect storm on the horizon. I took all my money out of equities (both global and domestic) in May. I've missed making money these past six weeks, but the party can't continue and I want to preserve my assets.

The war in Iraq may not be the biggest issue in '08, it may very well be unemployment and a nasty recession filled with foreclosures and despair.

IMHO.

for 70% of us, I'm sure it is getting worse. There's probably another 20% that either haven't felt it that bad yet or are in denial, and then there's the other 10%. Ah yes, life is good for that other 10%.

Oh wait, that's 9% that life is simply "good" for.

That only leaves the 1% crowd. "Good" is insufficient to descrobe life for them, I think "fucking fantastic" is how to describe that plane of existence. :eyes:

Both are working low paying service jobs to get by. "Get by" my ass. Both are barely hanging on. One is making half what he made before & the other is making way less than half.

Another friend, an executive admin who has never had a hard time finding a good paying job, took 3 months to find a position & took a $12k pay cut.

Spikes="Bush"

"The National Debt has continued to increase an average of $1.15 billion per day since September 29, 2006!" http://www.brillig.com/debt_clock/

They're right.

:headbang:
rocknation

"Yeah, toooo bad about you little people -- smirk, smirk, smirk

don't forget to donate generously at the gas pump -- smirk, smirk, smirk"

- Commander AWOL

growing on the economy. You either have it excised or it eventually kills you.

zero interest, such a DEAL we have for you. Unhuh, oh yeah.