Another unforced error via the Obama Administration...... clues …..can’t play in the big leagues just a Half Ass Organizer and a piss poor Public Servant …………

Incompetent breeds more incompetencies.

http://www.foxnews.com/politics/2010/06/04/payrolls-increased-jobless-rate-dipped-percent/

Millions of families are suffering under this administration, with no solid help coming. A lot of lip service, but the rubber isn't meeting the road to put people back to work. Nearly 2 years into this admin, and we've fallen deeper into the abyss with the light getting dimmer by the day. I hate to say this, but I feel a real collapse coming on in the next year that will top what has taken place so far under Obama and his staff.

Yes....... it take a LONG time for a president to fix what was fucked up before him...


Be afraid... Be very very afraid....

thousands of jobs lost by the drilling moratorium. at least 2 rigs have already accepted contracts to go work overseas. that's good since the guys will still have jobs, but they won't be paying taxes on their income now.

Thread Bomber;379003 wrote:Yes....... it take a LONG time for a president to fix what was fucked up before him...


Be afraid... Be very very afraid....

After 18 momths ...and you're still on the Bush blaming crap

Afraid of what? If I walked around being fearful of shit and depending on goverment like you I would be afraid also?
I provide for myself so the only fear I have is running over those who think they are entilted to something that they don't understand .... hard work.

Be afraid my ass...........

belly,

Since you obviously don't have much use for President Obama, why don't you tell us what needs to be done to create jobs. I see a whole lot of bitchin' on this site, but there's damn precious new ideas. And don't give me the old "cut taxes" mantra, unless you mean cutting corporate taxes.

The jobs situation is just a nightmare right now. We need to be creating something like 200,000 jobs a month just to keep up with the population growth. That is not happening now or anytime soon.

The sad reality is that there just will never be enough jobs for everyone. Much of the job explosion of the past 25 years was built on the back of unsustainable consumer spending rates (constituted 70% of our GDP) that never were based in reality.

It may be about high time we all start coming to grips with a "new normal", and that the days of 4-5% unemployment rates are probably gone for the forseeable future.

But how do we create jobs NOW?

Here are some ideas: stop acting as if the private sector is the enemy. Businesses don't like uncertainty, and they certainly are going to be hesitant to expand with the current level of uncertainty caused by the largest expansion of government in my lifetime (and likely the lifetime of everyone else posting here). The stimulus package did little to nothing to help get employment back on track, it was a temporary plug mainly for public workers that were facing layoffs due to state and local gov't deficits. I'm not sure there is much the federal government can do to CREATE, but it can do a lot to hinder private business growth. Ideas: throw cap and trade legislation completely off the table; stop creating artificial bubbles; repeal the healthcare bill and if it needs replaced take some time and think about why you are affecting such a huge part of the American economy. The 'evil' healthcare industry employs a lot of people, and unlike a government only option actually creates competition and pricing choices for customers. How does government intervention help? Read this:

http://www.richmondbizsense.com/2010/06/04/startup-health-insurer-shutting/

I know one of their (ex)agents. I'm sure she appreciates looking at the unemployment line next week.

j_crazy;379018 wrote:thousands of jobs lost by the drilling moratorium. at least 2 rigs have already accepted contracts to go work overseas. that's good since the guys will still have jobs, but they won't be paying taxes on their income now.

And why??? To beholden to the fringe left wing nutjobs.

Belly35;379020 wrote:After 18 months ...and you're still on the Bush blaming crap

Afraid of what? If I walked around being fearful of shit and depending on government like you I would be afraid also?

I provide for myself so the only fear I have is running over those who think they are entitled to something that they don't understand .... hard work.

Be afraid my ass...........

I do not have a clue what you are referencing....why are you so defensive of GWB?

I provide for myself as well and are only afraid of the God that created me.

You are obviously afraid of the big bad black socialist president. Go ahead and admit it... We all know

If you read my post a little more carefully, you might of understood my point that as bad as GWB fucked up our country and economy, BHO is taking this shit to a new level.

Edit: removed personal attack-ptown

stlouiedipalma;379058 wrote:But how do we create jobs NOW?

We start by recognizing that the public sector doesn't create jobs, and arguing that it's Obama's fault is equally stupid as maintaining that the blame belongs to Bush.

I mean, we did add 41,000 private sector jobs. That's at least not a bad thing.

It isn't the best news and I'd like to see a lot more hiring but this shit is going to take time.

stlouiedipalma;379052 wrote:belly,

Since you obviously don't have much use for President Obama, why don't you tell us what needs to be done to create jobs. I see a whole lot of bitchin' on this site, but there's damn precious new ideas. And don't give me the old "cut taxes" mantra, unless you mean cutting corporate taxes.

I get paid to help companies and to save jobs, companies and increase profit.
I own two companies and operate another. Successful not always but I try.
On a personal level: I have invested $180.000 in a new product over a year ago and will have to add an additional $50,000 in the next month. I believe in this product and the creation of jobs (8-10) it will produce in the area. I started over a year ago to get some support because this product can be applied to saving energy and meeting government specification in a particular industry. As of today I have had local, state and federal individual in each respect level of Government Economic Development visit my operation. I have also taken the steps to have each individual have meeting with each other in my office. Now about three weeks ago I was on the computer and friend told me about “Ohio******* Program” I when to the site. I have been told by each level that they have no money and no support. WHAT ! How about that “STIMULUS” …… deer in head light look. Clues.
After reading about this Ohio ***** Program I contact each individual ….. Response …Didn’t know about it will look into it, does not apply to your needs, your company does not qualify, those programs are for reaches and development ($180,000 in research and develop). STOP Belly asking for Government Help….. Hey! I have over $200,000 invested that my money. What to create jobs put some skin in the game Government. Bottom line is this government from top to bottom has no idea of what to do and what programs apply. The idea that small business can cut throw this government red tape and incompetency is a joke. Big business with a staff of lawyer and accountant get throw this shit but Small Business is like a blind squirrel maybe find a nut but not hopeful.

The confidence level of American Business and Investor about this incompetent Public Servant and Administration and Congress will not change. So look for a continuous decline until November. Our hope is in November and a new Congress elected can alter the present Failure Bills, Stop additional Spending, Roll Back Fraudulent Stimulus Pork Money and Neutralize Obama mentality for the next two years. Then and only then is when you’ll see an up swing in the Confidents of American Business be restored and Investor encourage to spend/develop.

The untold story that no one wants to talk about or admit is that we have created an economic system the past 30 years by which financial institutions no longer have to invest in the real economy or things that create jobs in order to make money. They have created so many different financial products that it is more profitable and less risky to move paper around then to loan money or invest in business. 40 years ago that was not the case. That used to be the outlet for entrepreneurs to get business off the ground, now it is all dried up.

The biggest argument in support of this idea is that there was no such thing as a "jobless recovery" until the 90's when all of these wonderful financial innovations took hold. Now the jobless recovery is the norm, because now you don't have to create jobs to get out of recession you just move paper around through prop trading. That phenomenon is a new and unwelcome development.

^^^

That's pretty likely.

We've got the banks and commercial investors trading things that don't even exist.

I can only tell many of the Chatter that don't own or operated a business....Banking and Loans is not going the happen any time soon.
Last year many business..... ..including myself lost business line of credit.. What once was a $250,000 / $400,000 line some business was cut 35-45% that fucking Global Financing crap.
What every thought was banks getting money to loan out did happen…. and will not happen.
Obama talks about Small Business but has no clue

Manhattan Buckeye;379067 wrote:Here are some ideas: stop acting as if the private sector is the enemy. Businesses don't like uncertainty, and they certainly are going to be hesitant to expand with the current level of uncertainty caused by the largest expansion of government in my lifetime (and likely the lifetime of everyone else posting here). The stimulus package did little to nothing to help get employment back on track, it was a temporary plug mainly for public workers that were facing layoffs due to state and local gov't deficits. I'm not sure there is much the federal government can do to CREATE, but it can do a lot to hinder private business growth. Ideas: throw cap and trade legislation completely off the table; stop creating artificial bubbles; repeal the healthcare bill and if it needs replaced take some time and think about why you are affecting such a huge part of the American economy. The 'evil' healthcare industry employs a lot of people, and unlike a government only option actually creates competition and pricing choices for customers. How does government intervention help? Read this:

http://www.richmondbizsense.com/2010/06/04/startup-health-insurer-shutting/

I know one of their (ex)agents. I'm sure she appreciates looking at the unemployment line next week.

<STANDING OVATION>

As I was driving home this afternoon and listening to the news, what was it the Anointed One said today? Oh yeah it went something like this, "When businesses hire more employees they'll spend more money."

Ya think? Thank God for hope & change.

Belly,

My post was trying to get at the heart of exactly the phenomenon you are describing. Banks no longer have to make loans to the likes of small business owners like yourself because they find it more profitable/less risky to trade with that money instead of lend it out.

Look at the amount of firms that had perfect trading days last quarter in which they never lost a dime prop trading on any day.

Given the choice why would they choose to lend where it is a crapshoot they get their money back regardless of the credit worthiness when they can hit a sure thing in the market.

Financial services growth as a component of our GDP has grown tremendously, and it has been at the expense of mom/pop bricks and mortar businesses that produce real tangible goods. It is a shame, and no one seems to care or even realize how bad it is crippling our ability to ever get out of this situation and create jobs.

^^^^

Goldman Sachs and Chase aren't make loans to Belly (assumedly) or me. The community banking sector takes care of most small businesses. I have very strong relations with about 12 regional banks in our area (helped that I was their outside counsel for the better part of 3 years) and have a LOC with one of the smaller ones. Some have weathered the storm better than others, but all are concerned about NPAs and their balance sheet - after all it was already a heavily regulated industry. I agree with Belly that lending hasn't picked up much (there's an argument that is a good thing), and these guys are pretty far removed from daily trading activity. Now investments in Fannie/Freddie, that's another matter.

Manhattan Buckeye;379394 wrote:^^^^

Goldman Sachs and Chase aren't make loans to Belly (assumedly) or me. The community banking sector takes care of most small businesses. I have very strong relations with about 12 regional banks in our area (helped that I was their outside counsel for the better part of 3 years) and have a LOC with one of the smaller ones. Some have weathered the storm better than others, but all are concerned about NPAs and their balance sheet - after all it was already a heavily regulated industry. I agree with Belly that lending hasn't picked up much (there's an argument that is a good thing), and these guys are pretty far removed from daily trading activity. Now investments in Fannie/Freddie, that's another matter.

I understand GS and Chase aren't making loans to Belly, but it is part of a larger point I was trying to make that over the past 30 years capital flows have dramatically shifted away from areas that used to create jobs and more into paper moving markets (through hedge funds and such) that create wealth through paper transactions that don't create any tangible goods.

Not that long ago there were 8 major Wallstreet Investment banks that had to invest in the real economy to make money for the most part. It was a huge source of capital, and it has dried up. We are down to 2 now, and neither make a whole lot of their money from traditional investment banking activities.

Goldman and Chase don't worry about risk. They have no risk. They are backed by the U.S. printing presses. If what you say is true (I don't know and I'm not looking it up right now), they are trading in these other instruments because they are more lucrative, not because they are less risky. They latch on to the biggest government-sponsored bubble and sell products in that field and make a killing. If there were no bubbles like this, they would have no choice but to make their money in more traditional ways.

I think we should get rid of a lot of the really weird and complex investing products. They were literally invented so the banks and only them could make more money.

belly: I have tried like 5 times to respond to you with no success. So I picked out this thread of yours to hi-jack a little bit and say to send me the name of your kind neighbor, as we probably know each other. When I get this PM thing straightend out, I will tell you some more about that certain "business".

But for the matter at hand on this thread, I will chime in to say that Obama is not the answer, and the American voting public is now finally aware of that......especially the Independent swing votes.

I resent the constant bashing of the previous administration as to how the situation is today.

This president is a sham. Am I allowed to say such a horrendous thing, since I'm a proud Republican? Is it PC? Wait............I'll "Go Adanced" and re-read and see if that's really what I want to say.

Yes, it is.