Americans sour over economy?

Ok I dont usually do this sort of thing but I am very curious about how americans really feel about their economy at the moment after reading this article posted on local news site in Australia.

http://money.ninemsn.com.au/article.aspx?id=403829

 

PS. I was born in Georgia and Raised in Tex/Ark before moving to Australia 20 years ago.

 

Americans sour over economy: poll

 

 

 

Americans are in a sour mood over the sagging US economy, worried about their jobs and overwhelmingly of the opinion the country is on the wrong track, according to a Reuters/Zogby poll released Thursday.

The Reuters/Zogby Index, which measures the mood of the country, fell sharply to 87.7, down from 99.3 in February, putting it at the lowest level since the index was first measured last July.

President George W Bush's approval rating fell to 32 per cent, down from 34 per cent last month, while positive ratings for the US Congress were at 15.5 per cent, slightly below an anaemic 17 per cent last month.

Concerns about jobs, personal finances, safety from attack and the direction of the country were on the increase after easing slightly last month, proof that Americans were in foul spirits.

Only 19 per cent of Americans believe the country is headed in the right direction. And only 40 per cent felt very secure about their jobs, down from 50 per cent last month.

Pollster John Zogby said it was the first time all 10 of the measures used in the poll to take the temperature of the country were down. "The index is not simply down, it's down dramatically," he said. "It's the largest move we've seen since we inaugurated this."

Americans over the past month have watched a topsy-turvy stock market pounded by a mortgage crisis. Recession fears abound and Democrats are locked in a protracted battle over who will be the party's presidential nominee.

A separate Reuters/Zogby poll found that nearly three in four Americans thought the US economy was in a recession, and saw little hope for a swift improvement in the housing market.

The Reuters/Zogby Index is released on the third Wednesday of each month. The survey of 1,004 likely voters was conducted March 13-14.

The Index combines responses to 10 questions on Americans' views about their leaders, the direction of the country and their future. Index polling began in July, and that month's results provide the benchmark score of 100.

A score above 100 indicates the public mood has improved since July. A score below 100, like the one this month, shows the mood has soured since July.

Home values are continuing to fall in many parts of the US, jobs heading overseas, baby boomers are retiring, funding a very expensive war, value of the dollar is dropping, cost of oil is increasing which has increase 50% the cost of gasoline in the last three years.....

 

I would say it is pretty bad....

I voted no b/c I am not really seeing or going to see the effects of this at this point in my life. My career is on the up and I already own my home (well with a mortgage at 4.75%) Yes gas price sucks b/c of the freaking gougers but every country is effected by that. This is probably a micro or selfish view but that is how I read the OPs poll.

 

I am a finance background so I know where and where not to hedge my investments right now. I will buy low low low and make myself $ for retirement and future investments. We are already in a recession there is no doubt in my mind. But so far it hasn't effected my lifestyle and shouldn't anytime soon. As soon a Bush gets his head out of his butt and realizes that the War is bankrupting the US maybe this will all turn around. He needs to stop printing $ like it was 1st editions of Harry Potter.

Just hang in there until 2012. It will all be over.

 

I am worried to say the least. The dollar continues to fall, banks going under, mortgage foreclosures, consumer spending is down, the car industry is in trouble.

 

I may be wrong in stating this but do any of you feel the car industry is the backbone of our economy? Manufacturing job's from suppliers, etc?

I don't really feel that American Auto Companies are the backbone of our economy, although a large part. The thing is it isn't just American car companies that will suffer. We are a huge market for all foreign companies as well.

 

China is buying up all of the US debt and they will become the next world power in 10 years. We will be a thing of the past as far as economics go.

 

All of these bailouts by the government are just prolonging the inevitable. Let some of the biggies die I say and force the business to react. Oil is starting to come down from $110 to $102 but I don't think we are even near the beginning of this. Invest in Pac Rim you will thank me in 10 years

Our economy doesn't bother me much. So far, I've only been affected by higher gas prices. Of course, I've been affected on paper, as my house is worth less this year than it was last, but as long as i never sell it, I wont see that loss.

 

I consider myself very fortunate but the middle class "American Dream" is becoming more difficult for Americans to achieve. For the first time in decades, our next generation is going to have it much tougher than we do today. The American dream is showing signs of wear.

Our economy doesn't bother me much. So far, I've only been affected by higher gas prices. Of course, I've been affected on paper, as my house is worth less this year than it was last, but as long as i never sell it, I wont see that loss.

 

 

 

Agreed, this is what I was getting at. The funny thing is that my house is still going for $25,000 more then what I paid for it in 2004. Go figure....still a 9% return for me as of now

Agreed, this is what I was getting at. The funny thing is that my house is still going for $25,000 more then what I paid for it in 2004. Go figure....still a 9% return for me as of now

 

We bought ours in 2003 for $184k. It'd sell for $285k w/o any drama...I'm sure of it. Awhile ago? $305k. So yeah - we're doing okay.

The Creature of Jekyl Island

 

[ame=http://www.amazon.com/Creature-Jekyll-Island-Federal-Reserve/dp/0912986395/ref=pd_bbs_2?ie=UTF8&s=books&qid=1206022363&sr=8-2]Amazon.com: The Creature from Jekyll Island: A Second Look at the Federal Reserve: G. Edward Griffin: Books[/ame]

 

The late great USA

 

August 07

After becoming a New York Times best-seller just weeks after its release, "The Late Great USA" – which exposes government plans to promote integration of the U.S., Mexico and Canada – is No. 8 on the paper's list of hardcover business books.

Written by Jerome Corsi, Ph.D., co-author of "Unfit for Command" which became a No. 1 New York Times best-seller and a decisive influence in the 2004 election, "The Late Great USA" exposes the multifaceted plan to turn the U.S., Canada and Mexico into a North American version of the European Union.

Corsi's book, which already has reached the No. 1 spot on Amazon's "Nonfiction" list, was No. 28 on the Times list overall list last week.

 

[ame=http://www.amazon.com/Late-Great-U-S-Coming-Merger/dp/0979045142/ref=pd_bbs_1?ie=UTF8&s=books&qid=1206022405&sr=1-1]Amazon.com: The Late Great U.S.A.: The Coming Merger With Mexico and Canada: Jerome R. Corsi: Books[/ame]

uh the last time I checked our economy is 70% consumer spending based.

 

That means 2 things-

 

1- we are not saving

2- weak currency means high inflation which means EVERYTHING cost more to buy.

 

Welcome to the new america

Those are great points. But I am a very good saver, I rarely spend any money I work 1 career and 2 part time jobs (mostly for fun but personal training pays awesome) and I just put it all way

 

Pay off the CC in full every single month and don't carry debt (other then a mortgage) if you can live by this then you won't be hurt too much by all this. Personal debt should always be the first thing an individual rids themselves of. CC rates are up in the 30% now, Americans are just uneducated when it comes to finance and it is their own fault in most cases. They have the funds they just keep rackin up the debt instead of paying it down

I'm not "sour" about the economy.. but I do think the chicken littles of the stock market need to STFU and GTFO cos they're just gonna make it worse. (I dont want to make issue on this perspective.. simply put from that weird movie about the galaxy guide or whatever DONT PANIC!)

 

about the only things that really have made me feel kinda down about it is the possibility of cutbacks at my job.. as one of the last hires that makes me nervous.. and the fact that not 1 house in my neighborhood has sold in months.

 

stuff happens.. all existence can be defined as a wave.. up down up down.. think about it.. all life exists in this way. even the earth's orbit. closer to the sun farther away.. so I try not to worry.

I don't really feel that American Auto Companies are the backbone of our economy, although a large part. The thing is it isn't just American car companies that will suffer. We are a huge market for all foreign companies as well.

 

China is buying up all of the US debt and they will become the next world power in 10 years. We will be a thing of the past as far as economics go.

 

All of these bailouts by the government are just prolonging the inevitable. Let some of the biggies die I say and force the business to react. Oil is starting to come down from $110 to $102 but I don't think we are even near the beginning of this. Invest in Pac Rim you will thank me in 10 years

 

What is Pac Rim?

Pacific RIM or Southeast Asia in other words

Pacific RIM or Southeast Asia in other words

 

 

Makes sense. However I think I'm going to invest in copper.

IMHO our economy is soft...but not as bad as the media wants you to believe.

 

What put us in this situation is stupidity...every American thinks they deserve top of the line everything and that their public worth is based on their perceived status. Until Americans (we) learn to live within our means, and make purchasing decisions that guide our economy rather than cripple it we will stay in the same situation.

I work in sales so I am directly effected by the economy but I'm not "sour" about it. The economy ebbs and flows. That's just the way it is. I'll tighten the belt, let the economy cull out the weak in the industry, then make money "hand over fist" when this bish recovers.

ive been wishing for a recession since i graduated college 3 years ago. my job is not affected by the sagging economy and i wasn't invested in stocks so i love it. 3 months ago i was 100% cash. now i am 50/50 cash/stocks and i will probably be more like 25/75 by the end of the year. hoping to see home prices continue to decline so i can buy next year, although, they are not declining nearly as much in my area as in most of the country.

 

sucks for all those who lost their shirts tho. but with patience they will get most back. many of my clients have lost millions, tho they still have millions left so i dont feel terribly sorry.