So is the economy booming as the AM radio talk show hosts claim?

Rush Limbaugh, Sean Hannity, Boortz and the other millionaire talk show hosts claim non-stop that the economy is booming. Yet if you ask the average middle class person, or look at the dismal performance of the stock markets, you'll see a different story.

Are these talk show hosts wrong? Do they have no concept of reality, or are they right?

AM talk show hosts are so biased that it's not even funny. They would LOVE to sit in their radio stations and side with Bush all day, pretending like this nation is bigger and better than ever...but it's suffering, and the middle class knows that all too well. The rich are becoming richer, the poor poorer, and the middle class is vanishing all together. With all the recent flooding, prices of crops will skyrocket through the roofs. The price of gas doesn't even need to be spoken of, we're all feeling the pain. And now Bush is talking about starting up Off-shore drilling again. It would take at LEAST five years to start the drilling, at which point in time it is predicted gas prices would drop a total of (approx.) 15 cent/gallon. Which is ridiculous, because the cost of Off-shore drilling itself would be astounding! Putting the nation even further in debt.

Those talk show hosts have been smokin' something...
-Tanner

The U-S is on the verge of a recession. These guys are nuts!

People are loosing their homes (defaulting mortgages), and spending about 10% more than they earn in the U-S, by using credit. Not to mention the weak U-S dollar. Especially that. A booming economy usually has a strong dollar reflecting it. To me, all that is going on does not indicate a strong economy.

Live in Michigan....it's no where near booming

LOL!!!
NO!!!!!
why would you listen to an Oxi-Contin Morph addict?
sorry Rush, but once a druggie... always a druggie...

our economy is booming alright...
just like a battleship sinking into the ocean...

because the average middle class person does not care about politics those am talk show hosts do.

well, to me, its true cuz i live in an area, south-central Oklahoma, where the economy is booming, so i wouldn't know what its like to live where the economy is slumping.

The economy is booming, but the stock market is anticipating a down turn which probably has already.started. Another way of saying it, is that we are slightly past the top of the peak. in the curve of this economic cycle. The cycle was getting very old and a recession is probably long overdue.

Look at the stock market.

It ALWAYS leads the economy by 6-12 months.

Ignore the talking heads (unless you secretly want to lose a lot of money)

Of course the economy is "booming".

The word booming (or boom) is the sound of the economy as it hits rock bottom.

You can even try this at home. take a heavy rock (economy), drop it on a piece of metal (the bottom) the sound it makes is BOOM

Just my analogy. LOL

Bill

The economy is okay here, for now. As our markets correct, you will see the DJIA and the S&P 500 correct down about 10 percent more. This makes those companies that were bloated with excessive amounts of investor money good buys again. The market corrects regularly. This slump is coming from the long term down swing in the housing market, which has actually started making housing affordable again. But, the upside-down special (interest only) and lower income (subprime) mortgages are only part of the problem. There are less people buying and more people selling than there were a few years ago. There was more investment money sitting around 7 years ago at the end of the booming 90s and everyone thought - I will diversify and buy into the ever-escalating housing market. Well, after a lot of those small-time investors bought their second homes, the stock market fell considerably in 2000. In 2001, on Sep. 11th, it fell some more. It recovered gradually and until very recently looked poised to continue into positive territory. But, the lending institutions have tightened credit, so it is harder for people who have fewer assets to get loans, and therefore - that is where you get the situation of having fewer buyers. But, regardless of how many buyers there are the market controls itself because all those non-buyers have to live somewhere. So, the investment properties do not sit vacant they are instead rented out, and the number of vacancies goes down considerably, rent goes up. The people who own the property start having cash flow again and reinvest it back into the stock market.

In summation, the pundits you are referring to are wrong in that we are in a correction and therefore the economy is not strong relative to where we were a few months ago. However, the pundits are right in that the economy is by it's very nature cyclical and with any luck we are getting towards the end of this correction and could see gains again within the next few months. Overall, I would say that there is no way to predict the future and all we can really do is wait and try to have good credit, (by making good decisions), so that when the opportunities to re-enter different parts of the market reappear we have the credit to take on good debt at the most fair interest rates. Additionally, since the market is correcting down, the economy is great if you are a buyer of stocks, or real estate and bad if you are a seller. Look at corrections as an opportunity to buy. When the market zigs the biggest winners zag.

I didn't realize how strongly I felt about this topic.

they're all brain-washed millionaire Bush Republicans, that's why they spout that garbage

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