bye

1/29/2008 12:53:25 AM

Quote :

".............................................................2000.................... 2007.............Change (%) US Population........................................281.4 million.............301.6 million......+7.18 Tax Revenues.......................................$2.025 trillion.............$2.54 trillion.....+25.4 National Debt........................................$5.67 trillion............. $9.01 trillion.....+58.9 Budget Deficit/Surplus............................$236.2 billion..............-244.2 billion....-196.7 Unfunded Liabilities (SocSec, Medicare,).....$33 trillion.................$53 trillion.......+60.6 MZM Money Supply on Dec. 31..................$4.697 trillion.............$8.105 trillion...+72.6 Monthly Inflation in December.......................3.38%....................4.08%............+20.7 Military Spending.................................... $294.5 billion...............$439.3 billion...+49.2 Farms....................................................2.167 million................2.09 million.....-3.5 Dollar-Euro Exchange Rate on Dec. 31..........1.062........................ 0.6794..........-36.0 Gold Price on Dec. 31................................$272.15......................$833.20.........+206.15 Gasoline Price (US Regular) on Dec. 31..........$1.38.........................$3.02............+118.8 "

Now, I don't exactly what's included in each category, particularly "Military Spending", but it looks like "Military Spending" accoutns for less than half of the gigantic change in "Budget Surplus/Deficit".

1/29/2008 1:16:24 AM

duke i got a question if you dont mind answering it

is there anything good about the price of gold going up? you'd think with it going up so much more that would be a good thing but you never hear about it in the news

1/29/2008 1:20:20 AM

What exactly does the price of gold or gas for that matter have to do with Bush's presidency?

1/29/2008 1:23:30 AM

^ Um. . .gold is a commodity and an asset. Many here seem to blame Bush when other markets are going down and assets--such as real estate--are being devalued.

Why not give Bush credit for gold being up? It makes just as much sense.

[Edited on January 29, 2008 at 1:50 AM. Reason : .]

1/29/2008 1:50:38 AM

Gold has gone up because it has an inverse correlation with the strength of the dollar. As inflation rises the purchasing power of the dollar decreases, but gold typically appreciates in value because it is a rare element and "inflation-proof". I'm sure the econ majors can elaborate / correct me.

Gas and oil prices have gone up based mostly on factors out of Bush's control. Nevertheless, market uncertainties based on our volatile relationship with Iran and Venezuela have definitely driven up the price of oil, and that can be blamed partially on Bush.

[Edited on January 29, 2008 at 1:55 AM. Reason : 2]

1/29/2008 1:55:25 AM

^ You mean the United States' "volatile relationship[s]" with anti-American de facto dictatorships, don't you?

1/29/2008 2:02:16 AM

Indeed I do. And there is no doubt that the Bush Administration's hard-line stance has caused uncertainty in futures trading, which has driven up oil prices.

All that sabre-rattling has undoubtedly pushed up the price at the pump.

1/29/2008 2:04:52 AM

^ As opposed to cozying up to anti-American de facto dictatorships?

1/29/2008 2:14:00 AM

he hasn't explicitly argued one way or another about whether or not it has been the right move--just that we're paying for it at the pump.

1/29/2008 2:17:32 AM

Well, "hard-line stance" and "sabre-rattling" have a certain normative connotation.

1/29/2008 2:22:43 AM

I thought it was descriptive foreign-policy nomenclature. I'm not really sure how else I could describe his words and actions with respect to those 2 nations.

[Edited on January 29, 2008 at 2:34 AM. Reason : 2]

1/29/2008 2:26:13 AM

Quote :

"Gold has gone up because it has an inverse correlation with the strength of the dollar. As inflation rises the purchasing power of the dollar decreases, but gold typically appreciates in value because it is a rare element and "inflation-proof"."

Yes, gold is generally held as an inflation hedge. That is, you buy gold if you think that inflation is speeding up and you sell gold when it is falling. This is because gold is probably the most liquid physical asset available and it is incredibly easy to store.

Also, gold doesn't have much productive value so you don't have to worry about a slowing or speeding up economy in and of itself influencing the value of gold.


Also the deficit has increased primarily because of slower tax revenues. For example you can see that population has gone up 7% and inflation over 7 years is 3 x 7 = 21%.

So even if there was no increase in productivity or per capita income taxes should have gone up by 7 + 21 = 28%. But they only went up by 25%. So tax growth is slower than inflation plus population.

1/31/2008 11:28:27 AM