Economy Returns to growth After Deep Slump

[arisajr]

At this point you can't reverse a stimulus bill that has already been passed. What would be idea if the congress didn't pass a new stimulus bill or if they do pass another one it should be more about helping the people on Main Street who are losing everything they have worked for and not to Wall Street who arguably has not used the money that they already received from the government in the most proper way.

 

[asur]

Bailouts for GMAC again doesn't sit well with me!

Now if the economy is really getting better why send more bailouts to
this company. Sop they can pay big bonuses to their employees?

 

[Dr.Who]

Bailouts for GMAC again doesn't sit well with me!

Now if the economy is really getting better why send more bailouts to
this company. Sop they can pay big bonuses to their employees?

Bailouts are designed to assist unions and democrats. There would be more salary caps and government intrusion into decision making by private companies and the unions and democrats in office would gain.

If they really wanted to jump the economy they would not need to pass a stimulus bill "right-away" and then not hand out the money until just before the election. If they really wanted to help the economy they would give the money to the people and they would do it as a reverse of the way they took it.

That's right, first they had to take it before they could hand it out. Lesson 1) moving money from one part of the economy to another is not a stimulus. lesson 2) if they can take it they can take other things that are yours too.

 

[Dr.Who]

At this point you can't reverse a stimulus bill that has already been passed. What would be idea if the congress didn't pass a new stimulus bill or if they do pass another one it should be more about helping the people on Main Street who are losing everything they have worked for and not to Wall Street who arguably has not used the money that they already received from the government in the most proper way.

Much of the money has not yet been distributed. That money could be returned to the people who actually earned it before it was confiscated by the gov.

 

[Pidgey]

Well... keep your eyes on New York:

SLASH... OR WE RUN OUTA' CASH!!!

 

[Pidgey]

Speaking of slashing... :

Sprint to slash 2,000 to 2,500 jobs

 

[asur]

Yes here's some Obama growth news just today:

Adobe to cut 680 full-time jobs, or 9 percent of work force

Video game company Electronic Arts Inc. said it is cutting 1,500 jobs

Sprint Nextel Corp. announced it is slashing 2,000 to 2,500 jobs

Now even if Obama could create a job, and I'm not saying he can, since he hasn't; but just suppose he got some help from somebody
and learned how to create jobs, do you think he could create jobs as good as these above?

Obama Policies = Loss of jobs!

It's called CHANGE!

 

[Pidgey]

Seeing quite a few of those these days (substantial mass layoffs). Got a horrible feeling that it's accelerating again. While speculative stock prices have been going up, that's actually a sign that (big) investors are more afraid of cash positions than equities in the near future as most companies' P/Es are still too high to get a decent return on investment. So... more belt-tightening.

While this won't mean anything to most of you, it's become horribly obvious that there's an awful lot of dollar carry trading going on right now in the Forex markets. The upshot is that we're bleeding although many indicators look otherwise as a counterintuitive function. People are taught NOT to truly understand this for a reason.

 

[asur]

It appears California ain't the only state hurt by Obama policies.

http://finance.yahoo.com/news/Repor...4.html?x=0&sec=topStories&pos=4&asset=&ccode=

I'm waiting for these states and Obama to raise taxes and see how it goes!

 

[Pidgey]

Another version of that story with graphs:

http://money.cnn.com/2009/11/11/news/economy/states_economies/index.htm

 

[arisajr]

I don't really think that California's problems are caused by Obama's policies. California had issues before Obama took office. I don't think that Obama's policies helped California. Obama does not understand what is happening in the economy and in American and his ignorance is affecting his policies. Maybe Obama should stop taking on to many problems and focus on one, like the economy, maybe than he can get something done and when that problem is solved than Obama should take on new issues.

 

[asur]

California had issues before Obama took office.

True, but Obama policies have hurt California further since he took office.
Obama has killed ambition in California to a great degree, like everytwhere else.

Remember, Obama promised shovel-ready jobs with passage of stimulus.
But this was a lie as there are none. In fact construction jobs are disappearing.


It's called change!

 

[Pidgey]

I don't really think that California's problems are caused by Obama's policies. California had issues before Obama took office. I don't think that Obama's policies helped California. Obama does not understand what is happening in the economy and in American and his ignorance is affecting his policies. Maybe Obama should stop taking on to many problems and focus on one, like the economy, maybe than he can get something done and when that problem is solved than Obama should take on new issues.

Wealth comes from mining, manufacturing or agriculture. A state simply cannot attack and progressively shut down all their industry and power generation without it coming back to bite. Nor can they continue to progressively tax profitable activities to the point of extinction and expect to go on. If they're going to NIMBY themselves to death, I can't feel sorry for them.

 

[Dr.Who]

True, but Obama policies have hurt California further since he took office.
Obama has killed ambition in California to a great degree, like everytwhere else.

Remember, Obama promised shovel-ready jobs with passage of stimulus.
But this was a lie as there are none. In fact construction jobs are disappearing.


It's called change!

Let's discuss that.

Here is a quote from an article about why California is having problems.

"California is facing a budget crisis caused by combination of outsized budget gaps, unusual budget rules and a morass of financial obligations approved at the polls. The state's July 1 budget deadline passed without an agreement in place, and the state's controller began printing i.o.u.'s in lieu of cash to pay taxpayers, vendors and local governments.

California's budget woes have grown steadily since the housing bubble burst in 2007. The state has been hit especially hard by foreclosures, and has been hampered by steep drops in tax revenues and by high unemployment. In 2009, tax receipts were down 27 percent from the previous year.

State lawmakers passed a budget for the state for both 2009 and 2010 in February 2009, but the legislation, which covered 17 months' worth of spending, was dependent on the passage of several ballot propositions that voters overwhelmingly sank in May. Even as the situation worsened, officials could not break a legislative stalemate in Sacramento, where a two-thirds majority is needed to pass a budget. Democrats, who control both houses of the Legislature but lack the supermajority, had several proposals rejected by Republicans, including Gov. Arnold Schwarzenegger, who threatened to veto any bill that included new taxes.

The budget cuts Mr. Schwarzenegger has proposed to make up the difference, if enacted, would turn California into a place that in some ways would be unrecognizable in modern America: poor children would have no health insurance, prisoners would be released by the thousands and state parks would be closed. Nearly all of the billions of dollars in cuts the administration has proposed would affect programs for poor Californians, although prisons and schools would take hits, as well."

In a nutshell, they promised to spend money on stuff expecting to continue to get lots of real estate taxes. Then when lots of people went into foreclosure and the value of houses dropped they lost 27% of their real estate taxes and payroll taxes. In addition to expenses that they are not allowed to cut, every time the people are sick to death of being taxed for stupid stuff and every time they try to raise taxes it gets voted down.

They can't cut the silly programs and they can't raise any more taxes so their only choice is to start cutting important programs. paft of that is true and important programs will be cut. But part of that is arm-twisting by politicians who claim that they will cut important stuff to try to force the people into accepting higher taxes.

The lesson to be learned is that they should not have committed to silly stuff to begin with and that the rest of the nation is on the same course.

As much as some people want it we simply cannot afford gov run health care.

 

[ASPCA4EVER]

I don't really think that California's problems are caused by Obama's policies. California had issues before Obama took office. I don't think that Obama's policies helped California. Obama does not understand what is happening in the economy and in American and his ignorance is affecting his policies. Maybe Obama should stop taking on to many problems and focus on one, like the economy, maybe than he can get something done and when that problem is solved than Obama should take on new issues.

Oh, yes...that would work wonderfully well...NOT!!!

He would be sliced & diced by the 'RIGHT WING NUT JOBS' {as seen around here} for not doing enough for their specific issues fast enough...but it was a nice thought...simplistic but nice