The Economy

archer wrote:

Blazer Bob wrote: Fracking been an economic miracle for N. Dakota.

Do you think we should start fracking in Colorado?

We have been fracking in Colorado for decades according to my friends in the industry. Only lately has it become a hot topic for the Hollywood Left.

towermonkey wrote: There's a lot of election year rhetoric whirring around as if we live in a giant blender right now, but what is the truth about the economy? Does GDP tell the tale? Is it even possible to correct this ship now? Bill Clinton got credit for turning around an economy that was pretty rotten, but what really turned things around was the development of the PC and the internet. Is there anything out there on the horizon that is even close to those developments that could jump start this sagging economy?

Housing. It was the main cause of the slow economy, and the economy will self-heal when housing picks up which it is already starting to do lately. Not so much prices, but sales and new construction and flushing out foreclosures. A secondary item is uncertain government fiscal policy and taxation. It would help if they stopped this temporary 1 year extensions BS and had some certainty going forward.

I doubt they'll be drilling through ski slopes and hiking trails. Natural gas not only creates jobs, it also helps get us off oil from our enemies. If the country doesn't have cheaper energy, we'll have zero chance of reviving our economy and using those increased revenues to convert to greener energy sources.

So, what I'm hearing is that most of you think the next big boom will be in energy - fossil fuels to be accurate. I disagree with the fossil fuel part, but agree with the energy part. I think there will be a breakthrough that will allow us to produce cheap energy at will - that is is the oil companies allow it...

towermonkey wrote: So, what I'm hearing is that most of you think the next big boom will be in energy - fossil fuels to be accurate. I disagree with the fossil fuel part, but agree with the energy part. I think there will be a breakthrough that will allow us to produce cheap energy at will - that is is the oil companies allow it...

Oil companies are in a good position to profit from new energy sources. It's the "breakthoughs" that we don't have yet and if you bet on clean/cheap energy popping up in the near future, you better be right. Because if you're wrong, and cheap clean energy doesn't happen soon, the economy will continue to struggle until we are California, then Greece.

towermonkey wrote: So, what I'm hearing is that most of you think the next big boom will be in energy - fossil fuels to be accurate. I disagree with the fossil fuel part, but agree with the energy part. I think there will be a breakthrough that will allow us to produce cheap energy at will - that is is the oil companies allow it...

No, I just used it as a major factor of what is affecting the economy of certain regions of the country although there will be collateral benefits nation wide. Just saw a report on CNBC of how Youngstown wants to sell mineral rights to pay for tearing down its abandoned buildings. That would benefit heavy equipment etc.

I think LOL's statement is on the money although I don't think I would list it as secondary. Nationally I think it would be bigger than fracking.

"A secondary item is uncertain government fiscal policy and taxation. It would help if they stopped this temporary 1 year extensions BS and had some certainty going forward."

How did Rmoney come up with that "12 million news jobs" statement? Well, he sort of borrowed it — without permission or credit given, of course. Moody Analytics projects that the untouched economy would produce something close to that number of jobs over the next four years regardless of who is in the White House.

http://www.washingtonpost.com/blogs/ele ... b-promise/

I'm not sure why people think there is going to be some breakthrough in cheap energy. I don't see it right now. There are already plenty of breakthroughs over the past decades, none of them are cheap though. I posted an article about Nitrogen in the Science lab for example.

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It also did a good job of comparing costs for Lithium batteries, fuel cells, hydrogen, etc.

I still say housing has to heal before we get the economy growing strong. Right now is a golden opportunity to get into a house.

LOL wrote:

towermonkey wrote: There's a lot of election year rhetoric whirring around as if we live in a giant blender right now, but what is the truth about the economy? Does GDP tell the tale? Is it even possible to correct this ship now? Bill Clinton got credit for turning around an economy that was pretty rotten, but what really turned things around was the development of the PC and the internet. Is there anything out there on the horizon that is even close to those developments that could jump start this sagging economy?

Housing. It was the main cause of the slow economy, and the economy will self-heal when housing picks up which it is already starting to do lately. Not so much prices, but sales and new construction and flushing out foreclosures. A secondary item is uncertain government fiscal policy and taxation. It would help if they stopped this temporary 1 year extensions BS and had some certainty going forward.

Don't see housing improving LOL. Slight uptick right now but the banks still have a huge amount of homes waiting for foreclosure.

And we have the impending Fannie/Freddie disaster.

I expect to see a slight uptick in the stock market before it starts heading steadily downward.

I thought I remember reading numbers that new housing starts are up, and existing sales are up. Yes foreclosures are still a problem though.