News Are Americans Really Whiners? A Discussion on the Nation's Economic Attitudes

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SUMMARY

The discussion centers on Phil Gramm's assertion that America has become a "nation of whiners," suggesting that the recession is a mental construct rather than a reality. Participants argue that while technical definitions of recession may not be met, many Americans are experiencing significant economic hardship, particularly in sectors like trucking and healthcare. The conversation highlights the disconnect between wealthy politicians, such as John McCain and Phil Gramm, and the everyday struggles of average citizens, emphasizing the negative impact of deregulation on the economy.

PREREQUISITES
  • Understanding of economic terminology such as "recession" and "trade deficit."
  • Familiarity with the implications of deregulation in financial markets, particularly the Commodity Futures Modernization Act (2000).
  • Knowledge of the U.S. healthcare system and its economic impact on GDP.
  • Awareness of the trucking industry's role in the economy and its current challenges.
NEXT STEPS
  • Research the effects of the Commodity Futures Modernization Act (2000) on current economic conditions.
  • Examine the relationship between healthcare spending and GDP in the United States.
  • Investigate the economic challenges faced by the trucking industry, particularly in relation to fuel prices.
  • Explore the psychological aspects of economic perception and its impact on consumer behavior.
USEFUL FOR

This discussion is beneficial for economists, political analysts, and anyone interested in understanding the socio-economic divide in America, particularly in relation to the perspectives of politicians versus the general public's economic experiences.

  • #31
Sail boats?
 
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  • #32
WarPhalange said:
Sail boats?
Sail boats with auxiliary power are still selling, though more slowly than in years past. Sales of motor launches, pleasure boats and motor-yachts are WAY off.

The largest seller of RVs, camper trailers, ATVs and watercraft in this area shut their doors two weeks ago It was a family business that has been around for decades. People who are losing their jobs and/or fighting high fuel and food prices just can't justify luxuries like this. Who needs a motor boat or party boat when you can't afford to fuel it? Who needs an RV or a 5th wheel camper when you can't afford the fuel to get to nice vacation spots? There goes at least a dozen good-paying local jobs.

One bright spot - my mother-in-law has a camp on a very popular lake with deep clean water. It used to be very noisy over there with all the personal watercraft, ski-boats, etc. Now, except for the occasional small boat putting around with low-hp motors (fishermen trolling for lake trout) it's pretty darned quiet. This may be her last summer at her camp (she's over 90), so it's nice that she gets some peace and quiet on her front deck.
 
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  • #33
I'll do everything in my power to get those offshore reserves exploited ... um, er, explored, discovered and um..." McCain said, drawing some knowing chuckles from the largely Republican audience [continued]
http://rawstory.com/news/2008/McCain_gaffe_Wants_offshore_resources_exploited_0711.html

McCain acknowledges that exploiting the coastal reserves will not reduce the price of fuel for at least five years [more like ten], and even then, only a little. He said that it will be psychologically beneficial to the economy.

Yesterday, McCain admitted that his offshore drilling proposal would probably have mostly "psychological" benefits,...
http://firstread.msnbc.msn.com/archive/2008/06/24/1163504.aspx

Apparently McCain thinks that the psychological benefit of drilling will cure the mental recession.
 
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  • #34
Not on the web yet: Gramm is stepping down.

He was the chairman of McCains economic committee and presumed to be the next Treasury Secretary.
 
  • #38
turbo-1 said:
In this case, yep!

Then you would be WRONG! :-p