Author Topic: Obama: Corruption, Deception, Dishonesty, Deceit and Promises Broken  (Read 221908 times)

Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39468
  • Doesnt lie about lifting.
Re: Obama Admn: Unmitigated F'ing Disaster
« Reply #825 on: July 22, 2011, 06:21:03 AM »
July 22, 2011
The Worst Steward of the Economy in American History
By Steve McCann




While the debt ceiling dance continues in Washington D.C. and the Republicans in the Senate are going wobbly, they need to understand they are dealing not only with an intransigent party in the White House but also someone that is the most incompetent president in modern history, and the worst steward of the American economy since the nation's founding.

The Obama sycophants often resort to the White House pre-packaged line that Obama inherited the worst economy since the Great Depression, as a means of deflecting responsibility onto George Bush.  Like so many of the emanations from this administration that too is a fabrication.  As side-by-side comparison of circumstances inherited by Reagan and Obama is as follows:

 
 Reagan
 Obama
 
Inflation
 13.5%   
 0.0%
 
Unemployment Rate
 7.5%   
 7.6%
 
GDP Growth (Previous Year):   
 -0.27%   
 0.0%
 
Prime Bank Interest Rate
 18.5%   
 3.25%
 

Among the factors that reflect the tale of the two presidencies is the price of gold.

Recently the price of gold reached $1,609.00 per ounce.  While this is an historic high in terms of raw dollars, it is not the high insofar as inflation-adjusted price.  That came on January 21, 1980 when gold reached $850.00 per ounce; however adjusted to 2011 that price is the equivalent of $2,328.00.

Gold prices often are a bellwether and commentary on the foibles and successes of those in power in the United States, as the dollar is the de facto global reserve currency and America has been the dominant economic and military power since World War II.

In 1980, when gold prices set the record, the United States was in the throes of a recession with annual inflation running at 13.5%, the unemployment rate was 7.5%;  the annual GDP growth was a minus 0.27%, and the bank prime interest rate was over 18.5%.  The flight to gold was overwhelming as no one had any confidence in the policies of Carter and the Democrats in Congress.

That was the landscape of the country when Ronald Reagan assumed office in January of 1981.

The job facing Reagan was the most daunting since the Great Depression -- and far worse than what Barack Obama inherited in 2009 -- as the combination of extreme inflation (the highest annual rate in the nation's modern history), unemployment (which peaked at 10.8% in 1982), and virtually no one able to pay the exorbitant bank interest rates were major obstacles that had to be overcome in order to revitalize the economy.  The price of gold reflected that dilemma.

However markets react not only to the actual circumstances at hand but to confidence in leaders and what is perceived as future positive or negative factors.  Because of Reagan's policy pronouncements and belief in the free markets combined with the passage of his economic growth agenda, by the end of his first 12 months in office the price of gold had declined to $377.50 per ounce (equivalent of $936.78 today).  This remarkable drop of nearly 60% from the previous all-time peak just 24 months before came about despite the fact that America was still in the throes of excessive (but declining) inflation and extremely high unemployment.

By August 1983 (28 months into President Reagan's first term) the price of gold was at $401.75 or $910.48 per ounce in 2011 dollars (down 61% from 1980 peak).  Inflation had been reduced to 3.2% (from 13.5%); the unemployment rate was at 9.2% (down from a high of 10.8% in November of 1982); annual GDP growth in 1983 was 4.52%, the highest in the previous four years.  In the final year of Reagan's first term GDP grew by an astounding 7.19% and the unemployment rate had been reduced to 7.6%).  Yet the average annual federal government budget deficit over those years was kept at 4.2% of GDP despite the overwhelming debacle facing the country in 1980-81.

The contrast between Ronald Reagan's first term and that of Barack Obama is stark and indicates a deliberate effort by the current president to destroy the American economy as he will have added over $5.5 trillion to the national debt in an effort to transform the United States into his vision of a socialist utopia.  By comparison Reagan added $1.35 trillion (inflation adjusted to 2011) over his first term while saving the American economy.

Yet many Republican Senators are willing to accede to political considerations in granting Obama his wishes regarding a massive increase in the debt ceiling and raising taxes coupled with vague promises of future spending cuts.  Instead of listening to the American people many are allowing themselves to be intimidated by the president, the Democrats in Congress, and a media who view the current debt ceiling debate as a sporting event while openly cheerleading for their team.  Rather than take the matches away from a pyromaniac, they are predisposed to hand him a flaming torch to complete the job.

Twenty-eight months into the term of Barack Obama the scene is considerably different.  Gold was priced at $849.00 per ounce on Inauguration Day (January 20, 2009); today it has nearly doubled (95%) to $1,609.00.

The other Obama failures: Unemployment was at 7.6%, today 9.2% (if calculated as in the early 80's the rate today would be over 10.5%).  Annual GDP growth will be between 1.5 and 1.75% in 2011.  All current estimates conclude that the final year of Obama's term will show a GDP growth of less than 2.2% and unemployment still around 8.8 to 9.0%.  But most devastating of all, the annual federal budget deficit has averaged nearly 10% of GDP (double the worst single year from 1947 to 2008).


Additionally, the financial crisis of 2008 had been mitigated by the actions of George W. Bush (TARP et al) prior to Obama assuming office and the recession was declared over by June of 2006, just 5 months after inauguration.  On the other hand the recession in play when Reagan became president was in its early stages and did not officially end until November 1982, 22 months after inauguration.

It has been debated whether Jimmy Carter or Barack Obama is the epitome of incompetence in modern U.S. history.  While Carter made myriad mistakes and was in over his head, he did not put the country in an untenable position regarding its future.  Obama has.  Post-Obama America has a questionable ability to financially overcome severe economic downturns; there is a very real possibility that the dollar will no longer be the world reserve currency -- a disaster for the American consumer.

When Carter left office, the Gross Federal Debt as a percent of GDP was 33% (he never recorded an annual deficit higher than 2.65% of GDP).  When George W. Bush left office the debt to GDP ratio was 69% (his highest annual deficit was 3.48% of GDP).  On the other hand, by the end of the Obama term the debt will be nearly 100% of GDP (the annual budget deficit in 2011 is projected to be 11% of GDP).

The United States as a nation is 222 years old, yet over one-third of the nation's debt will have been accumulated by Barack Obama in just four years.


Page Printed from: http://www.americanthinker.com/articles/../2011/07/the_worst_steward_of_the_economy_in_american_history.html at July 22, 2011 - 08:18:51 AM CDT

dario73

  • Getbig V
  • *****
  • Posts: 6467
  • Getbig!
Re: Obama Admn: Unmitigated F'ing Disaster
« Reply #826 on: July 22, 2011, 06:58:22 AM »
But, but NewsCorp...

Everything that idiot touches turns to crap.

Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39468
  • Doesnt lie about lifting.
Re: Obama Admn: Unmitigated F'ing Disaster
« Reply #827 on: July 23, 2011, 09:35:35 AM »
July 23, 2011
Obama's Economic Brutality
By Jen Kuznicki




In a 2001 radio interview, then-Illinois State Senator Barack Obama lamented that our Constitution described a bunch of negative rights -- things government cannot do, as opposed to things government can do.  That the Constitution says what the federal government can't do to you, but doesn't say what the federal government or state government must do on your behalf.

We have come to find out that Obama governs in a way that's consistent with that lament.  Instead of the Constitution telling his government what it can't do,  his government is telling us what we cannot do anymore -- and provides the conditions to make us go along.

In his own words, we cannot drive SUVs, build coal plants, eat what we want, or be comfortable in our own homes.

There has never been an American president who denounced the American way of life like Barack Obama does.  During his campaign, he pointed to all of the above in our domestic policy as atrocities committed by Americans against the world.  We supposedly use too much of the world's resources, and it has to stop before we run out.  It can be shown that since day one, Obama has set into motion an authoritarian and punishing economic policy that amounts to economic assault and battery on the American people.

The American people are for the most part hardworking, resourceful, industrious, and innovative.  It is hard to beat us down and keep us down.  In order to be effective, then, Obama's domestic energy policy has to be far-reaching, all-encompassing, and inclined to put obstacles in the way of those who wish to produce.

Inflation is said to be stable, but since energy and food prices are not included in the equation, we feel the pain even though it's not being measured for a concrete example, as if it is officially not happening.  The administration argues that inflation was worse under Bush and whips out a chart that proves it.  Of course, unemployment combined with the rising costs of gas, electricity, and groceries creates a misery index, which is felt in our households and businesses.  In the private sector, the pain is being felt, but it is not just an unexplained bumpy ride -- it is being inflicted upon us.

Invisible taxation due to regulation costs American families more money than necessary.  Take for example our president's push toward a green economy.  Wind and solar are subsidized while oil and coal are manipulated into scarcity.  He and his party pushed hard for a global warming bill that promised to decrease consumption of oil and coal and natural gas.  But when gas prices reach their highest level ever recorded in America, he released the strategic oil reserves and spoke glowingly of drilling, proving that he believes that an increase in oil supply offers relief at the pump.  At the same time, his administration argued that we cannot get immediate relief from drilling, and so he continues to discount and avoid the practice, forcing Americans to pay more money for something he is causing to be scarce.

Electricity costs are rising, mainly because the Obama administration has been effectively decreasing the supply of coal by refusing to issue permits to coal-mining companies, while at the same time using taxpayer money to prop up solar and windmill use and their advocacies through awarding grants, as well as playing favorites with subsidized clean coal.  Obama has taken a cheap, abundant resource and made it hard to get.  He has used terribly flawed science to convince Americans that using coal, no matter what innovative American minds can invent to decrease its output of emissions, is no longer feasible.

His administration is looking for ways to punish food companies.  A commission made up of several agencies in the administration is targeting snack foods and cereals that do not comply with regulations they made up.  They are forcing companies like Kellogg's and others to change their recipes or give up their target market.  Such companies have to decide, and then finance the choice that was forced upon them.  All because a few people in an authoritarian administration decided on limits and arbitrary levels of ingredients acceptable to the administration.

Using corn for ethanol is not working.  It is minimizing farmland normally used for food, and it is not getting into the tanks of vehicles because there are not enough pumps installed for it (and there won't be any time soon).  Not to mention how hard it is for many Americans to purchase new vehicles during this "greatest recession since the depression."

What is striking is that when a crisis presents itself, whether pertaining to energy or other domestic issues, Obama decides on a course of political action, and he immediately resorts to violent rhetoric.  That's how it begins.

When presented with a disaster that killed eleven people and poured unfathomable amounts of crude into the ocean, not only was his response slow, but it focused solely on the environmental aspect.  It was violent, too -- Obama looked for "whose ass to kick," and his cabinet member gushed about keeping his "boot on the neck" of the company at fault.

When the subprime mortgage crisis came to a head, Obama decided to pursue AIG and others by saying that his administration was "the only thing standing between them and the pitchforks."  He actually had union members carrying signs and shouting and threatening people in their homes.

When talking to union members, he said of the Republicans, "They bring a knife; we bring a gun."

He told the Republicans during the debt talks that "the debt ceiling should not be used as a gun against the heads of Americans to retain breaks for corporate jet owners or oil and gas companies."

Interestingly, Obama was applauded as a dove when campaigning.  It was said by his supporters that his foreign policy would be employing what they thought Bush did not, that he would be the one to use diplomacy.  Members of Obama's sycophantic press said, "If George W. Bush was a cowboy, Obama is a group hug."  In the two and a half years since his presidency began, Obama has not exactly fulfilled that characterization, since we are involved very heavily in the Middle East militarily, but Obama's domestic policy is not dovish, either.  It can only be concluded that the president's "group" is not the American people, and that he is interested in punishing them through the economy.

It is not whether the president is presiding over a passed-down horrible economy, nor is it that he is unknowingly making it worse.  Economic brutality is being inflicted upon us by our own president.


Page Printed from: http://www.americanthinker.com/articles/../2011/07/obamas_economic_brutality.html

 







________________________ __________________

Unmitigated fucking disaster.   

Option D

  • Getbig V
  • *****
  • Posts: 17367
  • Kelly the Con Way
Re: Obama Admn: Unmitigated F'ing Disaster
« Reply #828 on: July 23, 2011, 09:57:53 AM »
http://newsok.com/a-boom-in-corporate-profits-a-bust-in-jobs-wages/article/3588240

Aren't corporate profits up? I guess you think it Obama's duty to Force these Companies to hire more Americans. You are a commie piece of shit i see....

Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39468
  • Doesnt lie about lifting.
Re: Obama Admn: Unmitigated F'ing Disaster
« Reply #829 on: July 23, 2011, 10:06:39 AM »
http://newsok.com/a-boom-in-corporate-profits-a-bust-in-jobs-wages/article/3588240

Aren't corporate profits up? I guess you think it Obama's duty to Force these Companies to hire more Americans. You are a commie piece of shit i see....

They are making money overseas.  He is like a bubonic plague over the nation.  I have said so from day 1, businesses people everywhere say so, not the corrupt pieces of trash who get bailouts from him, but the average business guy HATES OBAMA


Funny too, I have said this about this horrible admn from Day 1, and even as things have gotten worse, and worse, and worse, and worse, Team Dildo still has their head of their ass. 
   

Option D

  • Getbig V
  • *****
  • Posts: 17367
  • Kelly the Con Way
Re: Obama Admn: Unmitigated F'ing Disaster
« Reply #830 on: July 23, 2011, 11:04:41 AM »
They are making money overseas.  He is like a bubonic plague over the nation.  I have said so from day 1, businesses people everywhere say so, not the corrupt pieces of trash who get bailouts from him, but the average business guy HATES OBAMA


Funny too, I have said this about this horrible admn from Day 1, and even as things have gotten worse, and worse, and worse, and worse, Team Dildo still has their head of their ass. 
   

So domestically their profits arent up? Only over seas?

Dos Equis

  • Moderator
  • Getbig V
  • *****
  • Posts: 63786
  • I am. The most interesting man in the world. (Not)
Re: Obama Admn: Unmitigated F'ing Disaster
« Reply #831 on: July 23, 2011, 11:18:18 AM »
Wynn is absolutely right about Obama. 

In the few minutes I was able to stomach from Obama's press conference, he said corporations were making "record profits," as that's a bad thing.  Would only use the word "revenues" instead of taxes. 

This thread title is correct:  he's a disaster. 

Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39468
  • Doesnt lie about lifting.
Re: Obama Admn: Unmitigated F'ing Disaster
« Reply #832 on: July 24, 2011, 07:00:34 AM »
Obama's OMB ignores document subpoena; Upton/Stearns House panel says Monday morning or else
By: Mark Tapscott | Editorial Page Editor Follow Him @Mtapscott | 07/23/11 8:39 AM
President Obama's senior appointees at the U.S. Office of Management and Budget took another step this week toward a potentially epic confrontation with Congress by ignoring a document subpoena issued by a subcommittee of the House Energy and Commerce Committee.

The subpoena is for thousands of documents requested months ago by the committee's Subcommittee on Oversight and Investigations concerning OMB's evaluation of a Department of Energy economic stimulus program loan guarantee worth $535 million for Solyndra, Inc., which makes solar energy panels.

The energy and commerce panel is chaired by Rep. Fred Upton, while Rep. Cliff Stearns, R-FL, is chairman of the subcommittee. Jacob Lew is director of OMB, while Steven Chu is Secretary of Energy.

Obama appointees at OMB have produced lots of documents in response to the subcommittee's original request in March, but many were so redacted of relevant information as to be useful. More important, they have simply refused to give the Upton/Stearns panel many other documents that could shed vital light on the loan guarantee decision-making process, including who drove it and why.

Yesterday, the Stearns subcommittee issued an ultimatum, telling OMB it has until Monday morning at 9 am to comply with the subpoena or face the consequences:

“Despite the subpoena's clear instructions and generous seven day deadline to produce the documents, OMB has yet to deliver a single page,” Stearns said. “I am mindful that OMB Director Lew and his colleagues are engaged in work on the important debt ceiling issue, but a congressional subpoena demands prompt and respectful compliance."

Stearns noted that OMB's refusal to provide the subpoenad documents contradicts Obama's promise that his administration would be open and transparent:

"The entire reason that we were forced to issue the subpoena was OMB’s recalcitrance. For an administration that parades around the banner of transparency, they have been anything but forthcoming. What is the Obama administration trying to hide as their actions suggest they do not want the facts of the Solyndra loan to come to light? The public and Congress have a right to know if billions of taxpayer dollars are being invested wisely.”

Solynydra was the first firm to receive a loan guarantee under Obama's $859 billion economic stimulus program in 2009. Obama has pushed billions of federal tax dollars to so-called "clean energy" firms like Solyndra, which makes proprietary solar energy panel equipment.

At least one major fund raiser for Obama's 2008 presidential campaign, Tulsa, Oklahoma, billionaire George Kaiser, is among Solyndra's venture capital backers and there have been multiple questions about the firm's future viability.

But just hours before the Stearns subcommittee issed its subpoena Brian Harrison, Solyndra's CEO, issued a statement defending the company's efforts since receiving the DOE loan guarantee:

“The fact is that Solyndra is growing rapidly. We are installing our products around the globe, we have created and supported thousands of American jobs, and we are on track to nearly double our revenue this year. Solyndra just completed a record quarter for shipments, with strong demand in the United States and major exports as well.  Last year, we shipped 65 megawatts of panel production and expect that to double again this year.

“We have seen a total net direct employment increase at Solyndra of 310 regular, full-time jobs since the DOE made its conditional loan guarantee commitment.  That loan guarantee allowed Solyndra to build our new factory, Fab 2, which created 3,000 construction jobs in the midst of one of the deepest construction downturns in California history. One hundred percent of our production is based here in the U.S., and Solyndra’s operations have led directly to 300 new supply chain jobs across 18 states."

For the committee's background memo explaining the sequence of events following its initial document request through issuance of the subpoena, go here.

 
http://washingtonexaminer.com/blogs/beltway-confidential/2011/07/obamas-omb-ignores-document-subpoena-issa-panel-says-monday-morni




No kidding. 

Option D

  • Getbig V
  • *****
  • Posts: 17367
  • Kelly the Con Way
Re: Obama Admn: Unmitigated F'ing Disaster
« Reply #833 on: July 24, 2011, 08:20:03 PM »
Wynn is absolutely right about Obama. 

In the few minutes I was able to stomach from Obama's press conference, he said corporations were making "record profits," as that's a bad thing.  Would only use the word "revenues" instead of taxes. 

This thread title is correct:  he's a disaster. 

Making record profits but jobs are still hella low..hmmmmm. The taxes for those companies are the lowest theyve been in 60 years.
And record profits are a bad thing at times.. Exxon mobile "oh theres no supply,.,,simple economics say we have to raise prices" but then demand goes down...AND THEY STILL MAKE RECORD PROFITS!..now you tell me whats wrong with that picture.... if anything

Dos Equis

  • Moderator
  • Getbig V
  • *****
  • Posts: 63786
  • I am. The most interesting man in the world. (Not)
Re: Obama Admn: Unmitigated F'ing Disaster
« Reply #834 on: July 24, 2011, 10:12:57 PM »
Making record profits but jobs are still hella low..hmmmmm. The taxes for those companies are the lowest theyve been in 60 years.
And record profits are a bad thing at times.. Exxon mobile "oh theres no supply,.,,simple economics say we have to raise prices" but then demand goes down...AND THEY STILL MAKE RECORD PROFITS!..now you tell me whats wrong with that picture.... if anything

They're also paying billions in taxes.  http://www.getbig.com/boards/index.php?topic=124722.100

They pay enough in taxes.  The solution to our economic problems is not to make individuals, small business, or big business give the government more money. 

Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39468
  • Doesnt lie about lifting.
Re: Obama Admn: Unmitigated F'ing Disaster
« Reply #835 on: July 24, 2011, 10:47:13 PM »
And how many corps have record profits? 

whork25

  • Getbig IV
  • ****
  • Posts: 1653
  • Getbig!
Re: Obama Admn: Unmitigated F'ing Disaster
« Reply #836 on: July 25, 2011, 12:25:50 AM »
Wynn is absolutely right about Obama. 

In the few minutes I was able to stomach from Obama's press conference, he said corporations were making "record profits," as that's a bad thing.  Would only use the word "revenues" instead of taxes. 

This thread title is correct:  he's a disaster. 

If corporations are making record profits how can the economy be bad? and why does Wynn say companies are holding back on hiring?

Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39468
  • Doesnt lie about lifting.
Re: Obama Admn: Unmitigated F'ing Disaster
« Reply #837 on: July 25, 2011, 06:01:24 AM »
White House stokes debt-ceiling crisis (No to new plan)
http://www.washingtonpost.com/blogs/right-turn/post/white-house-stokes-debt-ceiling-crisis/2011/03/2 ^ | 7/25 | rubin



Posted on Monday, July 25, 2011 9:07:48


A Republican aide e-mails me: “The Speaker, Sen. Reid and Sen. McConnell all agreed on the general framework of a two-part plan. A short-term increase (with cuts greater than the increase), combined with a committee to find long-term savings before the rest of the increase would be considered. Sen. Reid took the bipartisan plan to the White House and the President said no.”


(Excerpt) Read more at washingtonpost.com ...



________________________ ________________________ _____________


Option D

  • Getbig V
  • *****
  • Posts: 17367
  • Kelly the Con Way
Re: Obama Admn: Unmitigated F'ing Disaster
« Reply #838 on: July 25, 2011, 07:29:51 AM »
And how many corps have record profits? 
http://www.nytimes.com/2010/11/24/business/economy/24econ.html

The nation’s workers may be struggling, but American companies just had their best quarter ever.

The New York Times
Related

Economix Blog: Visualizing Booming Profits (November 23, 2010)

American businesses earned profits at an annual rate of $1.659 trillion in the third quarter, according to a Commerce Department report released Tuesday. That is the highest figure recorded since the government began keeping track over 60 years ago, at least in nominal or noninflation-adjusted terms.

The government does not adjust the numbers for inflation, in part because these corporate profits can be affected by pricing changes from all over the world and because the government does not have a price index for individual companies. The next-highest annual corporate profits level on record was in the third quarter of 2006, when they were $1.655 trillion.

Corporate profits have been doing extremely well for a while. Since their cyclical low in the fourth quarter of 2008, profits have grown for seven consecutive quarters, at some of the fastest rates in history. As a share of gross domestic product, corporate profits also have been increasing, and they now represent 11.2 percent of total output. That is the highest share since the fourth quarter of 2006, when they accounted for 11.7 percent of output.

This breakneck pace can be partly attributed to strong productivity growth — which means companies have been able to make more with less — as well as the fact that some of the profits of American companies come from abroad. Economic conditions in the United States may still be sluggish, but many emerging markets like India and China are expanding rapidly.

Tuesday’s Commerce Department report also showed that the nation’s output grew at a slightly faster pace than originally estimated last quarter. Its growth rate, of 2.5 percent a year in inflation-adjusted terms, is higher than the initial estimate of 2 percent. The economy grew at a 1.7 percent annual rate in the second quarter.

Still, most economists say the current growth rate is far too slow to recover the considerable ground lost during the recession.

“The economy is not growing fast enough to reduce significantly the unemployment rate or to prevent a slide into deflation,” Paul Dales, a United States economist for Capital Economics, wrote in a note to clients. “This is unlikely to change in 2011 or 2012.”

The increase in output in the third quarter was driven primarily by stronger consumer spending. Wages and salaries also rose in the third quarter, which might help bolster holiday spending in the final months of 2010.

Private inventory investment, nonresidential fixed investment, exports and federal government also contributed to higher output. These sources of growth were partly offset by a rise in imports.

Option D

  • Getbig V
  • *****
  • Posts: 17367
  • Kelly the Con Way
Re: Obama Admn: Unmitigated F'ing Disaster
« Reply #839 on: July 25, 2011, 07:31:07 AM »



Corporate Profits At All-Time High As Recovery Stumbles


NEW YORK -- Despite high unemployment and a largely languishing real estate market, U.S. businesses are more profitable than ever, according to federal figures released on Friday.

U.S. corporate profits hit an all-time high at the end of 2010, with financial firms showing some of the biggest gains, data from the federal Bureau of Economic Analysis show. Corporations reported an annualized $1.68 trillion in profit in the fourth quarter. The previous record, without being adjusted for inflation, was $1.65 trillion in the third quarter of 2006.

Many of the nation's preeminent companies have posted massive increases in profits this year. General Electric posted worldwide profits of $14.2 billion, while profits at JPMorgan Chase were up 47 percent to $4.8 billion.

Corporate profits steadily increased last year as companies continued holding onto record amounts of cash and other liquid assets while cutting costs, laying off workers and wringing more productivity -- defined as the amount of output that comes from an hour of work -- from remaining staff, even as the recession eased.

To put that in perspective, said Lynn Reaser, the chief economist at Point Loma Nazarene University in San Diego, it's important to note that companies were able to bring production back up to pre-recession levels without hiring any more workers.

"We have now recovered all of the output lost in the recession, but we are still down by 7.5 million workers," she said.

In addition to layoffs, some companies continued to cut wages and benefits last year. Sub-Zero, the freezer and refrigerator manufacturer, told workers last year that factories in Wisconsin would have to be shut down, with 500 employees losing their jobs, unless staff took a 20 percent pay cut, The New York Times reported.

Advertisement

Workers were expected to put in more hours without overtime pay, while staff facing fewer hours of work due to furloughs were expected to do as much as they would have in a full workday, according to NPR.

But, economists said, companies may have squeezed as much as they can out of workers, with a decline in profits for non-financial companies in the fourth quarter of last year suggesting that to improve production, companies will have to start hiring seriously again.

On the whole, Reaser said, corporations have significantly improved their balance sheets since the financial crisis. "It's helped pave the way for a significant gain for corporate capital spending, dividend payouts and corporate buybacks, as well as the significant rise in stock prices," she said.

But while the financial sector continued to recover from its 2008 meltdown -- with profits jumping some $51 billion in the fourth quarter, a gain of 51 percent over the previous quarter -- non-financial firms actually saw profits fall by roughly $10 billion, according to the BEA figures.

Part of the reason, said Reaser, was that although high productivity drove down labor costs, persistent unemployment and pinched consumers left companies unable to charge the higher prices needed to boost profits. More companies will start pushing more aggressively to improve profit margins this year, she said.

In order for those efforts to pay off, she said, many companies will have to start hiring -- and keep hiring.

Until the end of last year, companies were able to boost productivity by squeezing their remaining workers, who were eager to prove they were worth their paychecks. "But," said Paul Ashworth, an economist at Capital Economics, "you can't keep getting more out of workers quarter after quarter after quarter."

To ramp up production this year, Ashworth said, companies have already started hiring modestly. Federal figures show the economy added total of 192,000 jobs in February, the most in nearly a year. The unemployment rate fell to 8.9 percent last month, the lowest since April 2009.

Economic growth figures released on Friday also suggested firms were slowly stepping up production. The Commerce Department revised upwards its projections for gross domestic product growth in the fourth quarter of 2010, to 3.1 percent from 2.8 percent.

The new projection, BMO Capital Markets senior economist Sal Guatieri said, is "consistent with an economy growing fast enough to gradually reduce the unemployment rate." But, he said, most of the increase was in business inventories -- companies producing and stockpiling more -- rather than consumer confidence.

Despite positive signs, economists warned that economic growth could be hit by the twin shocks of high gas prices and the impact of events in Japan, which has hampered auto and electronic supply chains. "There are mild headwinds that will slow growth a little bit," said Nariman Behravesh, an economist at IHS Global Insight, an economic and financial analysis firm. "They're not going to derail the recovery, and we're guessing they'll be temporary."

U.S. consumers appear to be growing nervous, thanks to events in Japan, fears over nuclear power, and unrest in the Middle East and north Africa. That anxiety could take an economic toll, with consumer sentiment falling this month to its lowest level since November 2009, according to the Reuters/University of Michigan index.

"The sharp drop in consumer confidence and Japan-related supply chain bottlenecks will likely translate into real GDP growth of only around 2.4 percent in the first quarter, with a bounce back to the 3.5 percent to 4 percent range in the second quarter," Behravesh said, revising his quarterly GDP growth estimate down from 4.2 percent.

Option D

  • Getbig V
  • *****
  • Posts: 17367
  • Kelly the Con Way
Re: Obama Admn: Unmitigated F'ing Disaster
« Reply #840 on: July 25, 2011, 07:31:52 AM »
A boom in corporate profits, a bust in jobs, wages
Posted: 9:14 am Mon, July 25, 2011   
By The Associated Press

Strong second-quarter earnings from McDonald’s, General Electric and Caterpillar on Friday are just the latest proof that booming profits have allowed Corporate America to leave the Great Recession far behind. But millions of ordinary Americans are stranded in a labor market that looks like it’s still in recession. Unemployment is stuck at 9.2 percent, two years ..

Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39468
  • Doesnt lie about lifting.
Re: Obama Admn: Unmitigated F'ing Disaster
« Reply #841 on: July 25, 2011, 07:32:52 AM »
Again - thats pure left wing crap.    its utter nonsense for the economic imbecils.  


Are these the top 100, 500, 1000?  

"Corporations" run the gammut from the corner deli to GE.  



Most corporations are barely hanging on.   Are the top ones like GE, JPM, Goldman, and the ones bailed out by Typhoid Barry and Bush doing well?  Of course.  

But go talk to 9/10 small businesses run as a S Corp. and I guaranty they will tell you a far different story.  


Option D

  • Getbig V
  • *****
  • Posts: 17367
  • Kelly the Con Way
Re: Obama Admn: Unmitigated F'ing Disaster
« Reply #842 on: July 25, 2011, 07:37:39 AM »


But go talk to 9/10 small businesses run as a S Corp. and I guaranty they will tell you a far different story.
 



because Obama Taxed to hell right?

Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39468
  • Doesnt lie about lifting.
Re: Obama Admn: Unmitigated F'ing Disaster
« Reply #843 on: July 25, 2011, 07:39:37 AM »
because Obama Taxed to hell right?


ObamaCare & Dodd Frank are like two massive storm clouds over the nation.   

No one is going to hire anyone until those two pieces of shit are repealed. 


Option D

  • Getbig V
  • *****
  • Posts: 17367
  • Kelly the Con Way
Re: Obama Admn: Unmitigated F'ing Disaster
« Reply #844 on: July 25, 2011, 07:41:46 AM »

ObamaCare & Dodd Frank are like two massive storm clouds over the nation.   

No one is going to hire anyone until those two pieces of shit are repealed. 



So Obamacare is the reason Small Business is hurting?

Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39468
  • Doesnt lie about lifting.
Re: Obama Admn: Unmitigated F'ing Disaster
« Reply #845 on: July 25, 2011, 07:43:38 AM »
So Obamacare is the reason Small Business is hurting?



Its one of the main reasons right now why people wont hire anyone, even if they have a lot of cash on hand. 

Every business person I know now is just holding off until 2012 till hopefully Typhoid Barry is ousted from office. 

He is like a bubonic plague for the economy.   

Option D

  • Getbig V
  • *****
  • Posts: 17367
  • Kelly the Con Way
Re: Obama Admn: Unmitigated F'ing Disaster
« Reply #846 on: July 25, 2011, 07:45:31 AM »


Its one of the main reasons right now why people wont hire anyone, even if they have a lot of cash on hand. 

Every business person I know now is just holding off until 2012 till hopefully Typhoid Barry is ousted from office. 

He is like a bubonic plague for the economy.   


Please Explain.. i just want to understand for myself..maybe some research based on your "theories"

Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39468
  • Doesnt lie about lifting.
Re: Obama Admn: Unmitigated F'ing Disaster
« Reply #847 on: July 25, 2011, 07:48:53 AM »

Please Explain.. i just want to understand for myself..maybe some research based on your "theories"


ObamaCare is SKYROCKETING everyones' rates, just like I said they would.   Additionally, obamacare has so many WTF provisions that many businesses will not hire someone so long as all these mandates are in the air like a funnell cloud. 

A business in a uncertain economy, is not going to hire someone if they are forcex to provide healthcare at skyrocketing rates. 

Again - hope and change is a speech tailor made for idiots - not a policy.   

240 is Back

  • Getbig V
  • *****
  • Posts: 102396
  • Complete website for only $300- www.300website.com
Re: Obama Admn: Unmitigated F'ing Disaster
« Reply #848 on: July 25, 2011, 08:01:14 AM »
They pay enough in taxes.  The solution to our economic problems is not to make individuals, small business, or big business give the government more money. 

Does GE pay enough in taxes, Beach Bum?

Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39468
  • Doesnt lie about lifting.
Re: Obama Admn: Unmitigated F'ing Disaster
« Reply #849 on: July 25, 2011, 08:02:56 AM »
Does GE pay enough in taxes, Beach Bum?

uuuggghhh - you know who Jeffrey Immelt is correct?