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Getbig Main Boards => Politics and Political Issues Board => Topic started by: James on November 06, 2009, 05:39:58 AM
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Unemployment Rate 10.2%, Highest Since April 1983
WASHINGTON (AP) -- The unemployment rate has surpassed 10 percent for the first time since 1983. Nearly 16 million people can't find jobs and employers cut a net total of 190,000 jobs last month, the Labor Department says.
http://finance.yahoo.com/news/Jobless-rate-tops-10-pct-for-apf-563122944.html?x=0&.v=8
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Unemployment Rate 10.2%, Highest Since April 1983
WASHINGTON (AP) -- The unemployment rate has surpassed 10 percent for the first time since 1983. Nearly 16 million people can't find jobs and employers cut a net total of 190,000 jobs last month, the Labor Department says.
http://finance.yahoo.com/news/Jobless-rate-tops-10-pct-for-apf-563122944.html?x=0&.v=8
wwwhhoooa.
James, yesterday I probably made 300-350 phone calls on accounts I am working. all to small businesses, etc, and every one of them is near bankruptcy and laying people off left and right. The bs in the news about a recovery is a pure lie.
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The Stimulus is working!!
(http://www.chrisrue.com/funcave/graphics/minister_thumb.jpg)
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(http://i35.tinypic.com/1rzvac.jpg)
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(http://i35.tinypic.com/1rzvac.jpg)
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"I'd like to give a shoutout!"
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(http://www.getbig.com/boards/index.php?action=dlattach;topic=304724.0;attach=346354;image)
(http://www.getbig.com/boards/index.php?action=dlattach;topic=304724.0;attach=346355;image)
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I just read that the real rate of UE is at least 17.5%.
Great job Dear Leader.
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Imagine where we would be without the stimurass? ::)
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Good thing GM is doing well ::)
I'm sure the next 3 stimulus programs will work
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Oh, but the rate of job loss is declining still!!!! We lost 10 thousand fewer jobs this month!!! That means the stimulus is working!!!! And I think that is 20 thousand less than two months ago!!! If we keep going at this rate, we will stop losing jobs in 20 months!!
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Oh, but the rate of job loss is declining still!!!! We lost 10 thousand fewer jobs this month!!! That means the stimulus is working!!!! And I think that is 20 thousand less than two months ago!!! If we keep going at this rate, we will stop losing jobs in 20 months!!
Yeah by then there will be NO JOBS IN AMERICA TO LOSE!!!!
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Unemployment Rate 10.2%, Highest Since April 1983
WASHINGTON (AP) -- The unemployment rate has surpassed 10 percent for the first time since 1983. Nearly 16 million people can't find jobs and employers cut a net total of 190,000 jobs last month, the Labor Department says.
http://finance.yahoo.com/news/Jobless-rate-tops-10-pct-for-apf-563122944.html?x=0&.v=8
If the US government is posting the UE rate at 10+ percent you can believe that the actual number is more than two times that. With Bob Champman, Larry Parks, Peter Schiff etc have all reported having UE rates OVER 20 percent many months ago, I am inclinded to believe them over the US government.
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If the US government is posting the UE rate at 10+ percent you can believe that the actual number is more than two times that. With Bob Champman, Larry Parks, Peter Schiff etc have all reported having UE rates OVER 20 percent many months ago, I am inclinded to believe them over the US government.
Ita about 18% or better?
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Ita about 18% or better?
Bob Chapman just announced that the UE figures is now at 22.4 percent!!!!!!! He expects that in 2010 it will be 24 percent. There is no turn around for america or its economy.
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Bob Chapman just announced that the UE figures is now at 22.4 percent!!!!!!! He expects that in 2010 it will be 24 percent. There is no turn around for america or its economy.
Samson:
You know what makes me laugh, there are posters here STILL arguing with me after I have correctly called this.
I deal with small business people every day in NYC and have my finger on the pulse far before things hit the news and these idiots still act like what they are spoon fed is the truth.
The game is over! There is no recovery, there is no turn around.
The only thing that possibly could turn this around is a major WW3 or massive cuts in govt and taxes to where businesses can build factories for blue collar jobs herte in the USa.
Unless and until the govt gets rid of the cap & trade scam, health care deform, the EPA, etc, its game over.
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WE got Obama because Bush didn't do his job..and we'll get the guy to fix this after libs are crucified on the failed experiment trash heap of history. It will be painful for the douchbags but Thatcher and Reagan did it....
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WE got Obama because Bush didn't do his job..and we'll get the guy to fix this after libs are crucified on the failed experiment trash heap of history. It will be painful for the douchbags but Thatcher and Reagan did it....
We need to get rid of the "Green Agenda" and re-industrialize asap. other than that, we are totally screwed. However, the maniacs and lunatics on the left wont allow that, for now.
2010 - 2012 - YOU LIBERAL MARXISTS ARE FINISHED!
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HH6,
I know you're well read. Taking into account that we (not us now, personally but you know what I mean) didn't heed Eisenhower's warning about the Military Industrial Complex.... approximately how long do you figure the wars must go on for our economy to fully rebound?
I really don't see it happening because so many jobs have been exported and our general population isn't employable in fields where they'd have a chance of benefitting from bombs, vaccines and new technology being developed.
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We need to drill..build...grow everybody else across the planet out of a job. We need to go from 15-20% of the worlds food to 50-60%. If u fuck with us u don't eat..if u decide to murder ur people..u don't fucking eat. We need to get off Saudi oil and let those worthless assholes farm their sand. No more Uncle Sam to the rescue for Europe....no more nation building to secure natural resources..we use our own or trade it for food. And if u want to fight..we reduce u to rubble and then we go home...the UN can rebuild u.
We really don't build anything D thats the problem. If i were president I would suspend all those ridiculous green laws for 10 years. I'd suspend the Fed's cut on oil for awhile..and I'd cut programs. The MIC needs to be more efficient no doubt..we will have to rebuild the military after all this is over.
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We need to drill..build...grow everybody else across the planet out of a job. We need to go from 15-20% of the worlds food to 50-60%. If u fuck with us u don't eat..if u decide to murder ur people..u don't fucking eat. We need to get off Saudi oil and let those worthless assholes farm their sand. No more Uncle Sam to the rescue for Europe....no more nation building to secure natural resources..we use our own or trade it for food. And if u want to fight..we reduce u to rubble and then we go home...the UN can rebuild u.
We really don't build anything D thats the problem. If i were president I would suspend all those ridiculous green laws for 10 years. I'd suspend the Fed's cut on oil for awhile..and I'd cut programs. The MIC needs to be more efficient no doubt..we will have to rebuild the military after all this is over.
We need to bring manufacturing back to the US but learn from our mistakes with unions.
The bailouts are nonsense too. It's impossible to borrow oneself out of debt. Harder still if one refuses to stop spending. :)
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We need to drill drill drill. Dont give subsidies to ANY energy company, whether you are talking about solar, nuclear, wind, oil, coal, or natural gas. But if you are going to give subsidies, atleast give it to the form of energy that has a chance at competing with oil in the marketplace - nuclear. Not wind or solar.
Its so frustruating to me to have most of the answers, Yet I feel powerless. Unfortunately most people who vote choose to be ignorant.
The threat of the military industrial complex will always be there. But at the same time, its needed to get the weapons built. Yes, you need to be wary of it, but I think Eisenhower would also say that you have to have it and you cant just go blindly accusing your government of everything. Just use your consiounce. EXAMPLE - We were attacked on September 11th, 2001. 3000 Americans lost thier lives. This caused us to take foriegn threats more seriously. And the Bush Administration wanted a broad response against the enitre terrorist network. Not just Al Quada. So going to Iraq was probably NOT about just getting oil or enriching Haliburton.
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We need to drill drill drill. Dont give subsidies to ANY energy company, whether you are talking about solar, nuclear, wind, oil, coal, or natural gas. But if you are going to give subsidies, atleast give it to the form of energy that has a chance at competing with oil in the marketplace - nuclear. Not wind or solar.
Its so frustruating to me to have most of the answers, Yet I feel powerless. Unfortunately most people who vote choose to be ignorant.
The threat of the military industrial complex will always be there. But at the same time, its needed to get the weapons built. Yes, you need to be wary of it, but I think Eisenhower would also say that you have to have it and you cant just go blindly accusing your government of everything. Just use your consiounce. EXAMPLE - We were attacked on September 11th, 2001. 3000 Americans lost thier lives. This caused us to take foriegn threats more seriously. And the Bush Administration wanted a broad response against the enitre terrorist network. Not just Al Quada. So going to Iraq was probably NOT about just getting oil or enriching Haliburton.
And who has been screamining about Drill Drill Drill and been attacked mercilessly?
On the other hand, we have Don Quixote & Sancho Panza in the WH literally chasing windmills.
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Here's something to think about....
When W. came in office Jan. 20, 2001, unemployment was 4.2%. When W. left office Jan. 20 2009, it was 7.6%. You may not have focused on that because you were buying the big houses on 5 yr. adjustable rates you could not afford and letting the wifey drive the big Hummer to baby Jessica soccer practice. Unlike the dot com bubble burst which was in the technology sector, the collapse of the financial/housing market has impacted every sector. Heck, I even remember when team Bush wanted to provide you with the opportunity to direct your social security into the markets. Dodged that bullet... If old John, "The fundamentals of our economy is still strong" was swept into office is it possible that we could be worse off ? We will never know...
When we decide to take a look at the products that we purchase and see where it was made, then we may have some hope. When we understand that the hardest sector that is impacted is in construction (no new houses are not being built as fast as it was because there is no longer demand) and manufacturing (Ford, GM, Chrysler vs Nissan, Honda, Lexus, BMW and others), then maybe we will get ourselves out of this situation. Do you use the excuse of "But there better cars"? Then don't bitch,moan and blame it all on the current President.
If you voted for him then stay with him and hope that he will stabilize it. By the way, he actually cannot force a business to hire anyone. We just don't want him and government to stand in the way. If you didn't vote for him then during the next election, vote for who you will think will get us back down to 4%. Otherwise, swallow the medicine...Which car will you be driving today? I drive an old 97 Ford explorer if you cared.
I've also learned to provide supporting evidence so here it is:
http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?series_id=LNS14000000
Best wishes and remember...don't pick up the soap!
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If you voted for him then stay with him and hope that he will stabilize it. By the way, he actually cannot force a business to hire anyone. We just don't want him and government to stand in the way.
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Exactly. And guess what, businesses who fear massive tax hikes, energy cost increases, health care mandates, are not going to hire anyone.
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333386,
My thing is that when we had tax cuts ($500.00 tax rebates...did you get one?) during the W. and Cheney's years, employment went to 7%.
Bill Clinton (1993-2001) 7% to 4%
G.W. Bush (2001-2009) 4% to 7%
B. Obama (2009-) 7% to ???
Did it really help? have we really learned? Do you realize that congress has not changed any laws regarding the financial/banking industry except credit card fees? Do you remember how the republican lead congress changed the bankruptcy laws just before the meltdown? Look back and see what happened. I was once told that everything that glitter is not gold.
We, as Americans, have to really decide what we want to do. Big companies need cheap labor so they go overseas to get cheap labor. Then we buy those things and say don't tax them because it going to hurt the our economy? and no I don't believe we should tax small businesses. By the way, what is your definition of a small business? It's meaning is different for different people would you agree? How do you suppose we pay for our soldiers and basic services? I'm open to hearing your opinion...
gotta go the gym now to hit the weights but I look forward to hearing what you think.
best of luck
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333386,
My thing is that when we had tax cuts ($500.00 tax rebates...did you get one?) during the W. and Cheney's years, employment went to 7%.
Bill Clinton (1993-2001) 7% to 4%
G.W. Bush (2001-2009) 4% to 7%
B. Obama (2009-) 7% to ???
Did it really help? have we really learned? Do you realize that congress has not changed any laws regarding the financial/banking industry except credit card fees? Do you remember how the republican lead congress changed the bankruptcy laws just before the meltdown? Look back and see what happened. I was once told that everything that glitter is not gold.
We, as Americans, have to really decide what we want to do. Big companies need cheap labor so they go overseas to get cheap labor. Then we buy those things and say don't tax them because it going to hurt the our economy? and no I don't believe we should tax small businesses. By the way, what is your definition of a small business? It's meaning is different for different people would you agree? How do you suppose we pay for our soldiers and basic services? I'm open to hearing your opinion...
gotta go the gym now to hit the weights but I look forward to hearing what you think.
best of luck
1. I posted an article from the Huff Post showing that Rahm Emanuel is the one pusdhing for a weak bill on the regulatory stuff.
2. Go watch the "Warning" on pbs.org. summers, Geithner, Rubin, Greenspan, Grahm, and Clinton ppushed for the repeal of glass steagal.
3. Small business to me is businesses with under 100 employees.
4. I never argued for no taxes, but sane taxes that are not punitive and discourage investment and economic activity. Why would an oil company try to drill more here when you have the congress and others screamining about taxing windfall profits, environmental lawsuits, etc. ?
5. I talk to no fewer than 15 businesses a day and will tell you that most small businesses are terrified of this admn and what they are doing. They will not hire anyone in the current envirobment because of looming tax hikes and cap & trade.
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My thing is that when we had tax cuts ($500.00 tax rebates...did you get one?) during the W. and Cheney's years, employment went to 7%.
Bush inherited a recession at pretty much the very beginning of it. The stock market had been experiencing its worst bear market since the Great Depression the year before he took office. Economists were saying that we were in a recession before he took office. Unfortunately tax cuts cant prevent the necessary corrections that are needed when a recession hits. But as I understand it, the tax cuts in 2001 were not the kind that create incentives and change behavior. They were rebates that were basically like temporary tax cuts that dont work well. It was the 2003 tax cuts that helped get the economy going. This involved cuts in the capital gains tax and dividends tax. Tax cuts for the rich unfortunately were not big enough to make a difference.
Bill Clinton (1993-2001) 7% to 4%
Bill Clinton inherited the economy when it was at the very beginning of an expansion. And unfortunately it was the slowest recovery since WW2 if Im not mistaken. Interest rates on treasury bonds went UP after the taxes were hiked. In the long run though, the slashing of interest rates by the FED, the tech bubble, the taking of Congress by Republicans, the resulting capital gains tax cut, the 10 year paradise from History, Clinton's good policy on free trade helped to more than offset the negative effects of any tax hike. Particularly since taxes on the rich were still lower than they were in Reagan's first term.
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MM2K/333386,
Let me be the first the say that I appreciate your feedback and your opinions regarding this topic. That being said, I'm concern that the unemployment rate that the DOL put out gives the misconception that Barack is the cause of this. Has the stimulus work so far? It depends on who you listen to. I'm on a wait and see pattern right now. I like to find out information for myself rather than get opinions from those who have other reasons to say its his fault that we are where we are. Interesting to know that while construction, manufacturing, and retail lost, health care sector continues to grow.
Looking at the data that we accept as the all be all and if we look back during Mr. Reagan's years, he also reached 10% and it remained that way for 10 months straight at one time. Were there any concerns like this during these years? I was in high school so I can't answer the question ;-) but I get the impression that they believed in him and he successfully brought it down to the 5%.
I just want balance...
In the words of FDR, “The Only Thing We Have to Fear Is Fear Itself”. I think a speech as this would provide us with some hope: http://historymatters.gmu.edu/d/5057/
Best of luck
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MM2K/333386,
Let me be the first the say that I appreciate your feedback and your opinions regarding this topic. That being said, I'm concern that the unemployment rate that the DOL put out gives the misconception that Barack is the cause of this. Has the stimulus work so far? It depends on who you listen to. I'm on a wait and see pattern right now. I like to find out information for myself rather than get opinions from those who have other reasons to say its his fault that we are where we are. Interesting to know that while construction, manufacturing, and retail lost, health care sector continues to grow.
Looking at the data that we accept as the all be all and if we look back during Mr. Reagan's years, he also reached 10% and it remained that way for 10 months straight at one time. Were there any concerns like this during these years? I was in high school so I can't answer the question ;-) but I get the impression that they believed in him and he successfully brought it down to the 5%.
I just want balance...
In the words of FDR, “The Only Thing We Have to Fear Is Fear Itself”. I think a speech as this would provide us with some hope: http://historymatters.gmu.edu/d/5057/
Best of luck
Looking at the data that we accept as the all be all and if we look back during Mr. Reagan's years, he also reached 10% and it remained that way for 10 months straight at one time. Were there any concerns like this during these years? I was in high school so I can't answer the question ;-) but I get the impression that they believed in him and he successfully brought it down to the 5%.
Reagan cut tax rates and Volker hiiked the interest rates to suck out the excess money from the system which led to massive growth. We are doing the opposite.
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MM2K/333386,
Let me be the first the say that I appreciate your feedback and your opinions regarding this topic. That being said, I'm concern that the unemployment rate that the DOL put out gives the misconception that Barack is the cause of this.
Well I think an intellectually honest person has to admit that if you blamed Bush for the crash and rising unemployment in his last year after unemployment had been in the 4%-5% range for most of his two terms, then you have to blame Barack Obama for the unemployment rate ACCELERATING in his first year. The market crashed under Obama almost as much as it did under Bush, and that was after it had been relatively calm for almost three months after the fall panic. Now, Im more optimistic than 33386 about the prospects of a recovery, but I truly do not think it is happening as quickly or as robustly as it should be. I think this Administration is doing everything to slow and impede the recovery. I know some of this is a part of a cycle, but he did inherit this thing pretty late in the recession cycle. I will admit I am more inclined to blame him for it because of the narcissistic contempt that he and his supporters have for his predessocor, something that has never happened in politics I dont think. You have to atleast admit that Obama is getting everything he deserves, even if he is not as much to blame for the unemployement rate as people are saying he is.
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Has the stimulus work so far? It depends on who you listen to. I'm on a wait and see pattern right now. I like to find out information for myself rather than get opinions from those who have other reasons to say its his fault that we are where we are. Interesting to know that while construction, manufacturing, and retail lost, health care sector continues to grow.
Looking at the data that we accept as the all be all and if we look back during Mr. Reagan's years, he also reached 10% and it remained that way for 10 months straight at one time. Were there any concerns like this during these years? I was in high school so I can't answer the question ;-) but I get the impression that they believed in him and he successfully brought it down to the 5%.
Well, as I said in another thread, it is admittedly impossible to prove 100% whether or not the stimulus is working, because we dont know how things would have worked had we not had it. But the unemployment rate is now much higher than Obama's economists said it would be both with and without the stimulus. We had to pay $700 billion that we could ill afford, and it was jammed down our throats without much deliberation and debate. I would say the burden of proof is on Barack Obama.
The healthcare sector continues to grow because it typically performs well in recessions, because it is more of a neccessity than say clothes or a new set of furniture that would replace an old but still well functioning piece of furniture.
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Well I think an intellectually honest person has to admit that if you blamed Bush for the crash and rising unemployment in his last year after unemployment had been in the 4%-5% range for most of his two terms, then you have to blame Barack Obama for the unemployment rate ACCELERATING in his first year. The market crashed under Obama almost as much as it did under Bush, and that was after it had been relatively calm for almost three months after the fall panic. Now, Im more optimistic than 33386 about the prospects of a recovery, but I truly do not think it is happening as quickly or as robustly as it should be. I think this Administration is doing everything to slow and impede the recovery. I know some of this is a part of a cycle, but he did inherit this thing pretty late in the recession cycle. I will admit I am more inclined to blame him for it because of the narcissistic contempt that he and his supporters have for his predessocor, something that has never happened in politics I dont think. You have to atleast admit that Obama is getting everything he deserves, even if he is not as much to blame for the unemployement rate as people are saying he is.
The reason i asm pessimistic is as follows/;
1. The consumer is tapped out on credit cards and mortgages under water.
2. The Admn will be taxing us more, thereby hindering gorwth in the private sector and discouraging investment.
3. A huge energy tax is looming.
4. Interest rates are going to go way higher while people are already tapped out due to the excessive borrowoing and spending.
5. Most of the jobs that were lost are not coming back.
6. State govts are not cutting vback and still raising taxes.
7. Inflation is starting to hit in consumer goods like food, oil, and other day to day items.
8. There are no new bubbles to blow up for the average guy to speculate on Clinton had dotcoms. Bush had housing. Whilke the dotcom bust was bad, it was not as bad as the housing disaster since housing left us with massive debt.
9. The dollar is sinking.
10. The stimulus bill, bailouts, and money to the big banks is killing small business lending. I am on the front lines of this every day and will tell you that banks are simply not lending for anything because all capital and monies are tied up in the bailouts and other federal nonsense.
11. Housing is still going down and people are not apt to spend money when their homes are going down in value.
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Looking at the data that we accept as the all be all and if we look back during Mr. Reagan's years, he also reached 10% and it remained that way for 10 months straight at one time. Were there any concerns like this during these years? I was in high school so I can't answer the question ;-) but I get the impression that they believed in him and he successfully brought it down to the 5%.
As 33386 said, Regan and Volker had to significantly raise interest rates to kill inflation, which caused a nasty recession in the short run. BUt it paid dividends later on when we had a very strong dollar, and we experienced price stability for the next 20 years. I admit I was not near as old as you at the time, but from what I have read Regan's popularity did suffer from it, and as a result the Repulicans lost Congressional seats in 1982. This is one reason I think Reagan was the greatest president of the 20th century.
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As 33386 said, Regan and Volker had to significantly raise interest rates to kill inflation, which caused a nasty recession in the short run. BUt it paid dividends later on when we had a very strong dollar, and we experienced price stability for the next 20 years. I admit I was not near as old as you at the time, but from what I have read Regan's popularity did suffer from it, and as a result the Repulicans lost Congressional seats in 1982. This is one reason I think Reagan was the greatest president of the 20th century.
If you look who surrounds Obama, its the same gang largely responsible for the mess we are in. The fools on this board who blame Bush alone for this are just typical knee jerk libs who refuse to read or investigate why the collapse happened. The pbs documentary "The Warning" laid it out very clearly why we had the collapse and hint hint, it was only Bush. It was Geithner, Summers, Rubin, Greenspan, Phil Gramm, and Clinton.
Just look at the topics the libs on this board post, Palin, Fox News, etc. They are not only dumb, clueless, ignorant, uninformed, uneducated, illiterate, and childish, but they are making a concious choice to avoid any real discussion as to how we got here and where we are heading. This is their level of debate - Palin's baby and Fox News.
I have posted numerous articles about the details on the PelosiCare bill. Have one of these idiots once refuted anything? No!
I have posted numerous articles about Goldman and how they own the WH, are behind Cap & Trade, and have any of these morons on this board refuted me? No.
I have posted articles about how Paul Volker has beens hunned by Geithner, Summers, and Obama. have any of these Obamabots even commented on that? No.
I have posted articles about the corrupt deal the WH made with the Big Drug Companies to screw us and drive up costs, have these discussed this or been intellectually honest to admit what is going on? No.
I have posted articles about the unfunded liabilities of Medicair & SS amounting to $65 TRILLION DOLLARS and how both programs are broke. Do they even want to have that discussion? No.
They Can't
They Won't
They Don't
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Americans can "thank" NeoCon Republicans for BLOWING UP our economy.
8 yrs of total control and look where we are as a Nation!?
Scuumbags should be hung by their balls!
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well, the neocons certainly did get us into a slide. Obama injerited an avalanche. Did the stimulus make it worse? It keps things afloat in the short-term, but once those banks start lending that money, like Bech said, we're looking at some serious inflation.
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well, the neocons certainly did get us into a slide. Obama injerited an avalanche. Did the stimulus make it worse? It keps things afloat in the short-term, but once those banks start lending that money, like Bech said, we're looking at some serious inflation.
GO WATCH "THE WARNING" ON PBS.ORG AND STOP BEING KNEE-PADDING LIB.
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well, the neocons certainly did get us into a slide. Obama injerited an avalanche. Did the stimulus make it worse? It keps things afloat in the short-term, but once those banks start lending that money, like Bech said, we're looking at some serious inflation.
Obama is in the unenviable position of trying to clean up AFTER 8 years of Bush incompetence. :-\
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Obama is in the unenviable position of trying to clean up AFTER 8 years of Bush incompetence. :-\
Obama voted for Tarp.
Obama wanted to spend more not less than GWB in the budgets.
Obama sued banks as a lawyer to enforce and expand the CRA.
Obama has in his cabinet the same gang of thugs responsible for the financial meltdown - Summers, Geithner, Rubin, et al GO WATCH "THE WARNING" YOU KNEE PADDING PSYCHO.
Obama's stimulus is making things far worse by his own definition.
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Bush On TARP: ‘Why Did I Sign On To This Proposal If I Don’t Understand What It Does?’
On September 24, 2008, former President George Bush addressed the nation to explain the $700 billion Troubled Asset Relief Program (TARP) that was being crafted by the administration, the Treasury Department, and Congress. “Under our proposal,” Bush explained, “the federal government would put up to $700 billion taxpayer dollars on the line to purchase troubled assets that are clogging the financial system.”
But former Bush speechwriter Matt Latimer wrote in an upcoming book (excerpted by GQ) that, even hours before he gave an address promoting the TARP, Bush fundamentally misunderstood what the program was all about.
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Bush On TARP: ‘Why Did I Sign On To This Proposal If I Don’t Understand What It Does?’
On September 24, 2008, former President George Bush addressed the nation to explain the $700 billion Troubled Asset Relief Program (TARP) that was being crafted by the administration, the Treasury Department, and Congress. “Under our proposal,” Bush explained, “the federal government would put up to $700 billion taxpayer dollars on the line to purchase troubled assets that are clogging the financial system.”
But former Bush speechwriter Matt Latimer wrote in an upcoming book (excerpted by GQ) that, even hours before he gave an address promoting the TARP, Bush fundamentally misunderstood what the program was all about.
And your point is?
Obama did not understand it and he flew in to support it and appointed its author as his Treasury Secretary.
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$arah palin on Bush's stimulus program. A classic! ;D
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Who was president in April of 1983?
How did that person fare when running for reelection just one year later?
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Who was president in April of 1983?
How did that person fare when running for reelection just one year later?
Benny - Reagan & Volker hiked rates up to sop up the excess liquidity and promote massive job growth.
Obama by all reports is listening to Geithner and Summers, not Volker right now and Bernake has said he is keeping rates at zero for at least a year.
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Bush On TARP: ‘Why Did I Sign On To This Proposal If I Don’t Understand What It Does?’
On September 24, 2008, former President George Bush addressed the nation to explain the $700 billion Troubled Asset Relief Program (TARP) that was being crafted by the administration, the Treasury Department, and Congress. “Under our proposal,” Bush explained, “the federal government would put up to $700 billion taxpayer dollars on the line to purchase troubled assets that are clogging the financial system.”
But former Bush speechwriter Matt Latimer wrote in an upcoming book (excerpted by GQ) that, even hours before he gave an address promoting the TARP, Bush fundamentally misunderstood what the program was all about.
Historians and I agree......Bush was the WORST ever! Duhhhhhhhh
Almost as DUMB as $arah.
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Benny - Reagan & Volker hiked rates up to sop up the excess liquidity and promote massive job growth.
Obama by all reports is listening to Geithner and Summers, not Volker right now and Bernake has said he is keeping rates at zero for at least a year.
What? The "great" Ronald Wilson Reagan let unemployment get over 10%???
No way, I don't believe that. It must have been Kennedy or Carter in office in '83. Reagan would never allow that to happen to our great country.
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What? The "great" Ronald Wilson Reagan let unemployment get over 10%???
No way, I don't believe that. It must have been Kennedy or Carter in office in '83. Reagan would never allow that to happen to our great country.
They made things terrible for one year knowing the excess would be weeded out in a year or so. Right now, the Fed is still lending money at zero %.
Thus, we are delaying the pain even further. What is going to drive demand and growth in the next year when the taxpayert is already underwater and tapped?
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They made things terrible for one year knowing the excess would be weeded out in a year or so. Right now, the Fed is still lending money at zero %.
Thus, we are delaying the pain even further. What is going to drive demand and growth in the next year when the taxpayert is already underwater and tapped?
^^^^^^ Bush created this mess!
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What? The "great" Ronald Wilson Reagan let unemployment get over 10%???
No way, I don't believe that. It must have been Kennedy or Carter in office in '83. Reagan would never allow that to happen to our great country.
Benny:
The GDP growth got to 8.3% after what Reagan did. And it was in the private sector. Granted he had the uber-lib Mondale to run against, but we are in a different situation right now.
Obama will win or lose based on his opponent and how the economy is at the time. If things turn around, he will get credit for it, if things are still in the toilet, he is donezo.
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Bush could not deal with the "mini" Dotcom recession.......so he created a HUGE BUBBLE in housing and blew up the economy!
QFT.
www.pbs.org
Watch "The Warning"
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Unless manufacturing returns, this country is fuuccked!
Plain and simple.
Cap & Trade drives up the costs of mfg greatly. DEAL WITH IT!
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Our country can not survive with only career military LEECHES,,,,,,,,,afraid of working in the private sector!
I take it you did not watch the link I posted?
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We need to drill..build...grow everybody else across the planet out of a job. We need to go from 15-20% of the worlds food to 50-60%. If u fuck with us u don't eat..if u decide to murder ur people..u don't fucking eat. We need to get off Saudi oil and let those worthless assholes farm their sand. No more Uncle Sam to the rescue for Europe....no more nation building to secure natural resources..we use our own or trade it for food. And if u want to fight..we reduce u to rubble and then we go home...the UN can rebuild u.
We really don't build anything D thats the problem. If i were president I would suspend all those ridiculous green laws for 10 years. I'd suspend the Fed's cut on oil for awhile..and I'd cut programs. The MIC needs to be more efficient no doubt..we will have to rebuild the military after all this is over.
While a very general idea. I agree!!! ;D
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Bush could not deal with the "mini" Dotcom recession.......so he created a HUGE BUBBLE in housing and blew up the economy!
QFT.
The housing crisis was a result of left wing,politically correct jerk off democrats pushing their left wing agenda and giving loans to poor and people who couldnt pay the loans back.The community reinvestment act,pushed through by democrats and pusged harder by dems is THE REASON for the housing failure.You can blame Barney Frank and Chris Dodd for that mess.
The economy colapsed when the DEMOCRATS took over the house and senate.
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The housing crisis was a result of left wing,politically correct jerk off democrats pushing their left wing agenda and giving loans to poor and people who couldnt pay the loans back.The community reinvestment act,pushed through by democrats and pusged harder by dems is THE REASON for the housing failure.You can blame Barney Frank and Chris Dodd for that mess.
The economy colapsed when the DEMOCRATS took over the house and senate.
Billy: go watch that movie I posted "The Warning"