GALLUP: 7 OF 10 AMERICANS AGREE WITH ME ON THE ECONOMY

Back in early March, I [http://thepete.com/us-economy-in-decline-like-it-or-not/|blogged] about my feelings on our economy. I said that, based on my own observations around Los Angeles, that the American economy was growing weaker by the minute. I knew of a number of stores that were closing and since then have come across a couple more. Does that mean our economy is done for? Not necessarily, of course. I'm not some sort of super-economist or anything--I'm just a guy with eyes and a brain. The thing is, there are a lot of people out there with eyes and brains (who'd have thunk it?). EditorAndPublisher.Com reports in [http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1003600551|a June 19, 2007 article] that 7 out of ever 10 Americans polled by Gallup feels that our economy is getting worse. Check out a cutting from the article:

A new Gallup Poll will only reinforce those who claim that while the rich get richer most Americans don't feel they are sharing in the growth in our economy. The stock market may be climbing and the unemployment remains relatively low, but 7 in 10 Americans believe the economy is getting worse -- the most negative reading in nearly six years. ... "When asked about the most pressing financial problems their family faces today, Americans mention healthcare costs, lack of money or low wages, and oil and gas prices," Gallup reports. "Healthcare costs are mentioned by 16% of Americans while 13% say low wages and 11% say oil and gas prices. These percentages are virtually unchanged from last month."

So, I'm not the only freak who thinks things are on a downward slope. I see things getting worse (of course). Oil prices may seem stable, but I haven't heard of any parties being thrown celebrating new oil being found anywhere. The official numbers may claim unemployment is down, but those numbers only measure how many people are making unemployment insurance claims. The value of the dollar is on a more-or-less perpetual downturn thanks to the miracle that is the Federal Reserve System (it's what we get for basing our money on nothing). Oh and I see businesses--strong, stable, mainstream businesses having trouble surviving in a big, American city like Los Angeles. Anyone know what mortgages are like these days? Honestly, does anyone? I have no idea, but I'm guessing they're not good. I know I'd need to get a housing loan just to move into another apartment. Of course, it could all change if only we stopped letting companies outsource to overseas labor and stopped letting companies hire cheap immigrant labor here in the US. If we started giving all those jobs back to Americans, I'd imagine the economy would swing upward. Of course, that would mean profits would be down. The difference is, we'd have more money staying here in the US, as opposed to going to Mexico, Asia or to rich, white guys' houses in Switzerland.

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