Dumbya's economy....

[Bigmack]

I know the economy is booming and all, and that Murikans are better off financially than ever before, :sarcasm: but I found a couple of things to be mildly concerned about in the new "Harper's Index" in the March edition.

"Number of consecutive months that the American workforce has spent more than its take-home pay: 20"

"Number of previous months since the Depression that this had been the case: 0"

"Month when the total value of euros in circulation worldwide surpassed that of US dollars: 6/2006"

No link... new edition not on the web.

[liberal N proud]

1. If you are worth a Million or more, the economy is fantastic

It is just the rest of us who are screwed by bu$h's economy and he doesn't count us when telling everyone the economy is great.

[Coyote_Bandit]

2. Ummmm

I do some business consulting. Mostly small businesses. Many of the small business owners I work with are theoretically worth over a million. In reality they own a modest home, have a small amount of savings, a lot of inventory, some raw materials, and perhaps some equity in the physical location of their business. One fellow I am working with now has been in business over 30 years. His revenues have fallen about thirty percent over the past couple of years. He is struggling.

I could say the same of a family member who is a machinist. The value of his warehouse and the equipment in his shop makes him a millionaire. Reality is he bought a home that had been condemned and is living in it while he refurbs it in his spare time. He works twelve hour days usually six or seven days a week. And often he takes home less income than his employees.

Small business owners are struggling. But folks with a million or so to invest are doing well.

edit for spelling

[liberal N proud]

3. I will go with that

Maybe my analogy of a million was off and should not have included those who are just valued at a million but only those with the cash.
It does not take much for a small business to be valued at a million dollars these days.

[Greyhound]

4. How about classifying it as those that could write a check for $1,000,000

without borrowing to cover it? Over $1,000,000 in owned, not leveraged, assets?