Unemployment rises to 9.8%

[Recliner Pilot 61]

Fails on the Olympics, and still can't slow the decline in the economy.

 

This guy continues to impress.

[kpbuckeye 3]

still Bush's fault.

[RLLD 4,275]

still Bush's fault.

 

 

Booooooooosssshhhhhh!!!!

 

[MTSkiBum 1,626]

The united states government does not have the power to fix the global economy in a short period of time.

 

 

Bush didnt cause the economic crisis, and it isnt Obama's fault that we are not out of it yet.

[surferskin 31]

The united states government does not have the power to fix the global economy in a short period of time.

Bush didnt cause the economic crisis, and it isnt Obama's fault that we are not out of it yet.

Then why did we pass the stimulus?

[Recliner Pilot 61]

The united states government does not have the power to fix the global economy in a short period of time.

Bush didnt cause the economic crisis, and it isnt Obama's fault that we are not out of it yet.

 

Who was it that said "Pass my stimulus bill and unemployment will not go above 8%"?

[MTSkiBum 1,626]

Then why did we pass the stimulus?

 

Because politicians want to stay popular, and nothing is more popular than handing out free money.

 

 

Who was it that said "Pass my stimulus bill and unemployment will not go above 8%"?

 

Politicians lie all the time. I am saying Bush didnt cause the crash, and obama does not have the power to fix it, what part of that do you disagree with?

[Strike 6,020]

"Things would have been worse if we hadn't acted"

 

[surferskin 31]

Because politicians want to stay popular, and nothing is more popular than handing out free money.

Politicians lie all the time. I am saying Bush didnt cause the crash, and obama does not have the power to fix it, what part of that do you disagree with?

See, that's the rub though. If you claim a farce like the stimulus is going to save the economy, then you better be willing to take the blame when it doesn't.

[Strike 6,020]

I am saying Bush didnt cause the crash, and obama does not have the power to fix it, what part of that do you disagree with?

 

Neither of those particular individuals might have caused it, but Washington in general had a lot to do with it. And certain individuals in Washington DO bear a lot of responsibility for it, like Barney Frank. It wasn't some random set of events that caused this mess.

[MTSkiBum 1,626]

Neither of those particular individuals might have caused it, but Washington in general had a lot to do with it. And certain individuals in Washington DO bear a lot of responsibility for it, like Barney Frank. It wasn't some random set of events that caused this mess.

 

Why officials in washington, why not officials in the UK, germany, or china?

 

 

Thousands of Icelanders lost their savings and jobs and the government later resigned amid popular anger. Angry protests also led to former central bank chief David Oddsson being replaced.

http://www.google.com/hostednews/afp/artic...f8qq12sgNG_J_YA

 

 

The leader of icelands banking system was fired because he didnt do his job, in addition most of the goverment resigned. There are many more examples of this throughout the world right now.

 

We here in america act like it is just our country in a recession. Our government could certainly of prepared us better for the recession so that we wouldnt of been hit as hard, but i stand by my statement that the people in washington did not cause the global meltdown.

[Strike 6,020]

Why officials in washington, why not officials in the UK, germany, or china?

 

Officials in those countries didn't pass the CRA and/or force the GSE's to take on risky loans they shouldn't have. Officials in those countries didn't let CDS's get traded without any regulation. Officials in those countries didn't pass the Financial Services Modernization Act of 1999.

[NewbieJr 541]

Newsflash: it's going to end up above 10%. No one is, or should be, shocked by this. That is all.

[MTSkiBum 1,626]

Officials in those countries didn't pass the CRA and/or force the GSE's to take on risky loans they shouldn't have. Officials in those countries didn't let CDS's get traded without any regulation. Officials in those countries didn't pass the Financial Services Modernization Act of 1999.

 

I think that if the rest of the world was still doing well then those would of been a tiny roadbump in the american economy. I also think that if we had not done those acts we would still be in a recession, although much smaller, because of the global nature of todays world.

 

 

 

I guess we disagree on the effect that other countries have the american economy. Not a big deal, i am a fiscal conservative, and it sounds like you are as well, so i bet we agree on quite a bit else about the economy.

[phillybear 366]

I also think that if we had not done those acts we would still be in a recession

 

Um, we are still in a recession, nothing has gotten better, and we have a long way to go before bottoming out. Just look around. Stores are deserted, nobody is buying anything, tons of people out of work, and taxes are starting to go up. Long way down, still upcoming.

[MTSkiBum 1,626]

Um, we are still in a recession, nothing has gotten better, and we have a long way to go before bottoming out. Just look around. Stores are deserted, nobody is buying anything, tons of people out of work, and taxes are starting to go up. Long way down, still upcoming.

 

I worded my sentences poorly, which probably made it easy to take what i said out of context.

 

I know the recession has a long way left. I was commenting on what would of happened if the world hit a recession, and the bank reforms of the late 90's hadnt taken place.

[surferskin 31]

I worded my sentences poorly, which probably made it easy to take what i said out of context.

 

I know the recession has a long way left. I was commenting on what would of happened if the world hit a recession, and the bank reforms of the late 90's hadnt taken place.

And you seemed to skipped over the point that Obama claimed the stimulus would save the economy in the short term and yet it has been a miserable failure.

 

I don't think people are blaming Obama for the crash but his handling of the recovery. Or lack there of...

[MTSkiBum 1,626]

And you seemed to skipped over the point that Obama claimed the stimulus would save the economy in the short term and yet it has been a miserable failure.

 

I don't think people are blaming Obama for the crash but his handling of the recovery. Or lack there of...

 

I said that he passed the stimulus because handing out free money is the way to stay popular. I also said that politicians lie. You even quoted my response earlier in this thread. I think that Obama knew that the Stimulus plan wasnt going to work, but lied about it anyways to keep a high approval rating.

 

 

 

 

 

I was opposed to the stimulus, I think it was the wrong way to go about with recovery. There is no quick fix.

[NewbieJr 541]

I said that he passed the stimulus because handing out free money is the way to stay popular. I also said that politicians lie. You even quoted my response earlier in this thread. I think that Obama knew that the Stimulus plan wasnt going to work, but lied about it anyways to keep a high approval rating.

I was opposed to the stimulus, I think it was the wrong way to go about with recovery. There is no quick fix.

I highly doubt it was a popularity thing based on the timing of it. If he was pushing for it the year of the re-election, that might hold some water. Ultimately, he knew that his popularity would hinge on how the economy is in 2011.

 

First off, the stimulus plan can't be called a 'failure' yet. There are some real economic signs that are doing very well. They've been discussed plenty around here, although the Obama-haters love to pretend they're meaningless. Whatever.

 

If one wants to take the economy's slow recovery and a high unemployment rate and therefore label the stimulus plan a failure, then I would say it has more to do with this being unchartered waters for any administration. There is no one in the world who has/had a definitive answer as to what to do about teh global economy. Nobody. Other folks' idea was to do nothing and let the chips fall where they may. That's a free economy and businesses failing are a part of it. While that may or may not have worked in the long run, I'm quite sure that the 15-20% of the population that would have been unemployed would be saying that plan failed.

 

Thye way this is beoing handled can't really be accurately judged because there is no one alive who knows what the right answer is. It's all just a bunch of economic 'experts' making guesses as to what action will have what reaction.

[Snoopy 0]

Just look into Japan's lost decade and you will see the results of bailouts and throwing away money on unsustainable companies or companies "to big to fail".

Bush was stupid for trying in the first place, but the all so smart Obama is doubling down.

 

The results are predictable and to claim that we don't know what will happen ignores lessons we should have learned from history.

[NewbieJr 541]

Just look into Japan's lost decade and you will see the results of bailouts and throwing away money on unsustainable companies or companies "to big to fail".

Bush was stupid for trying in the first place, but the all so smart Obama is doubling down.

 

The results are predictable and to claim that we don't know what will happen ignores lessons we should have learned from history.

So what should we have done? Nothing?

[MTSkiBum 1,626]

If one wants to take the economy's slow recovery and a high unemployment rate and therefore label the stimulus plan a failure, then I would say it has more to do with this being unchartered waters for any administration. While that may or may not have worked in the long run, I'm quite sure that the 15-20% of the population that would have been unemployed would be saying that plan failed.

 

There was no quick fix, obviously obama's plan did not work in the short term because the unemployment rate is getting worse and worse. Plus quite a few of the jobs that the stimulus provided were temporary infrastructure repair jobs. And where i live these ended close to a month ago. In my region the stimulus has absolutely no affect on the unemployment rate currently. From my understanding this is the norm, and most of the stimulus jobs in the country are gone.

 

Now we as a country are stuck with over 1 trillion dollars in additional debt for a short fix that didnt work.

 

 

 

I highlighted your 15-20% because that number is bullsh1t. Your telling me that the stimulus package saved 13 million jobs, because that is what you are claiming. I dont even think that the most liberal people in america would call the stimulus that much of a success.

[Strike 6,020]

So what should we have done? Nothing?

 

We should have fixed the things that helped create this mess that I mentioned above so when the recovery happened it would be in a much more healthy economic environment. I don't think congress has addressed ONE of those. Why are we trying to "fix" something that is going to have the same structural and regulatory problems that caused the problems in the first place? But hey, let's focus on a trillion dollar health care package instead.

 

 

[NewbieJr 541]

There was no quick fix, obviously obama's plan did not work in the short term because the unemployment rate is getting worse and worse. Plus quite a few of the jobs that the stimulus provided were temporary infrastructure repair jobs. And where i live these ended close to a month ago. In my region the stimulus has absolutely no affect on the unemployment rate currently. From my understanding this is the norm, and most of the stimulus jobs in the country are gone.

 

Now we as a country are stuck with over 1 trillion dollars in additional debt for a short fix that didnt work.

I highlighted your 15-20% because that number is bullsh1t. Your telling me that the stimulus package saved 13 million jobs, because that is what you are claiming. I dont even think that the most liberal people in america would call the stimulus that much of a success.

I'm saying that if the car dealers were allowed to go under, along with the other businesses that were helped by the stimulus, the snowball effect of all the smaller businesses that manufactered parts for them would have resulted in at least a 5% increase in unemployment over what we're currently looking at.

[Strike 6,020]

I'm saying that if the car dealers were allowed to go under, along with the other businesses that were helped by the stimulus, the snowball effect of all the smaller businesses that manufactered parts for them would have resulted in at least a 5% increase in unemployment over what we're currently looking at.

 

Keep drinkin' that kool aid

[NewbieJr 541]

Keep drinkin' that kool aid

Do nothing but criticize those being proactive. You're the perfect republican.

 

The economy would have just fixed itself. It would be humming along right now if nothing was done.

[peenie 1,963]

i remember saying a long time ago that it was bullsht about all the money given out to all of these companies and some of you said, "if we don't save a lot of these banks and businesses masses of people will lose their jobs..."

now that the economy hasn't made a quick rebound you guys are btching yet again about the stimulus bill.

[MTSkiBum 1,626]

Do nothing but criticize those being proactive. You're the perfect republican.

 

The economy would have just fixed itself. It would be humming along right now if nothing was done.

 

That is the basis of capitalism. I think you are a little quick to dismiss those with a different view.

[Strike 6,020]

Do nothing but criticize those being proactive. You're the perfect republican.

 

The economy would have just fixed itself. It would be humming along right now if nothing was done.

 

Name one time the economy hasn't recovered from a recession, or even a depression. And the economy sure as hell ain't humming along right now despite the massive additional debt we've wasted trillions on.

[NewbieJr 541]

Name one time the economy hasn't recovered from a recession, or even a depression. And the economy sure as hell ain't humming along right now despite the massive additional debt we've wasted trillions on.

The fact that it's not humming along is irrelevent since we have no idea how horrible it would be if we decided to let "capitalism" keep us on the course we were on. Those in power decided that this economic collapse was going to be too catastrophic to just sit back and let happen.

 

You'll get a new chance to vote for someone with a different opinion in three years. That's how it works around here.

[MDC 7,887]

The economy is going to turn around in a big way, but it probably won't happen until mid/late 2010. In the meantime, avoid all debt, save as much as you can and do whatever it takes to hold onto your home and your job - you'll be fine.

 

Far as the Olympics, who really f'ing cares?

[peenie 1,963]

Name one time the economy hasn't recovered from a recession, or even a depression. And the economy sure as hell ain't humming along right now despite the massive additional debt we've wasted trillions on.

think caribbean and south american countries.

the last big depression was helped a great bit by the new deal.

(wow, i don't even know where that came from. i guess i did learn something in 5th grade.)

[Snoopy 0]

think caribbean and south american countries.

the last big depression was helped a great bit by the new deal.

(wow, i don't even know where that came from. i guess i did learn something in 5th grade.)

 

http://www.amazon.com/FDRs-Folly-Roosevelt...n/dp/0761501657

 

on said book:

“Admirers of FDR credit his New Deal with restoring the American economy after the disastrous contraction of 1929—33. Truth to tell–as Powell demonstrates without a shadow of a doubt–the New Deal hampered recovery from the contraction, prolonged and added to unemployment, and set the stage for ever more intrusive and costly government. Powell’s analysis is thoroughly documented, relying on an impressive variety of popular and academic literature both contemporary and historical.”

–Milton Friedman, Nobel Laureate, Hoover Institution

[MTSkiBum 1,626]

think caribbean and south american countries.

the last big depression was helped a great bit by the new deal.

(wow, i don't even know where that came from. i guess i did learn something in 5th grade.)

 

The new deal put lots of people to work on projects that lasted multiple years.

 

However the majority of both obama's and bush's stimulus packages were aimed at corporations, and only a small fraction of the obama's(none of bush's) went towards public works projects that actually put people into work.

 

I dont think it is fair to compare Bush's and Obama's stimulus packages to FDR's new deal.

[peenie 1,963]

oh...

you guys always shoot down everything i write. you're mean.

[Snoopy 0]

oh...

you guys always shoot down everything i write. you're mean.

 

On the + side for you FDR was a whitey and he got it wrong too

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

....I am such a racist.

[Recliner Pilot 61]

Far as the Olympics, who really f'ing cares?

 

Your Messiah cared enough to waste about a million taxpayer dollars on his little jaunt to Copenhagen to get his a$$ handed to him.

 

 

[Recliner Pilot 61]

Newsflash: it's going to end up above 10%. No one is, or should be, shocked by this. That is all.

 

Obviously Obama has been shocked by them. He ran on "This is the worst economy since the depression".....yet is blindsided by an economy nowhere near that bad.

 

 

Mebbe you should apply for "Unemployment Numbers Czar"...I think that's one of the few he hasn't filled.

[kilroy69 1,268]

15.9 % here. 10% looks good.

[MDC 7,887]

Your Messiah cared enough to waste about a million taxpayer dollars on his little jaunt to Copenhagen to get his a$$ handed to him.

 

Well, unlike your Personal Jesus at least he didn't let terrorists blow up the WTC. So we'll call it even.