Most big banks are making huge profits, not lending money, paying big bonuses and raising rates on credit cards to huge apr's. Despite the fact the media would have you believe the housing market is recovering I say it is not recovering. If not for the tax credit there would be very little in the way of home sales. Gas prices have risen 30 cents in the last 30 days. GM needs more money. The recovery is stalled in my opinion.The tax credit for homes should expire so that prices would free fall to a affordable level. Once this was achieved then you would see new home starts rise. I think they are still too high. That is still the case for much of the Tampa area.
Most people did not get raises in 2009 and I bet companies will use the poor economy as the reason for no increase in 2010. No increase in salary means no recovery in the economy. I know that some people in my company will have gone three years with no increase. As of January it will be two years for me. It is not like my cost of living has decreased in the last two years.
Until people see reasonable increases in take home pay the only people who will see any benefit in the economy are corporations.
Heavily manipulated picture from a BBQ joint in Woodbine, Ga.
2 comments:
The positive economic figures are meaningless in the real world; they only allow the government to claim some kind of victory. You are correct; the economy is too big to be manipulated over a short period of time. It must seek its own level and then we can work with what we have.
I love that photo; especially the bit of color you left on the roof.
I would love for market manipulation to stop, but I suppose that is a pipe dream.
Wait till you see the rest of this building. A pretty cool place.
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