Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
All of Obama's 'stimulus' plans have been to 'stimulate' the economy by handing out a few more dollars, and keeping some existing jobs, ie teachers, afloat. The problem is that they are not sustainable jobs. He doesn't seem to understand that. There are enough jobs being created by Americans corporations. The problem being that many of them go overseas. Since 2001, and average of 50,000 jobs a year have been outsourced. Unless he comes up with a plan to bring those jobs back, and keep them here, we are destined to fail.
At least Fox News does not zoom in on a firearm strapped to a person who is protesting against 0bama's policies, (to hide the fact that the person is black), while a panicky sounding news anchor is warning viewers that these protests against 0bama appear to be racially motivated.
I know, capitalism can never be to blame, so it must be the government's fault. The Republican narrative is that government forced poor defenseless banks to lend to undeserving minorities and that's what caused the housing crisis 15 years later.
The fallacy in conservative view is that the government 'forced' banks to make bad loans. The profit motive and perverse incentives made the financial institutions make bad loans. Under the age-old system, a bank would make prudent loans because they intended upon holding those loans for a long time and they wanted to assure that the borrower had the means to repay the loan.
Under their system, banks could make risky loans because they intended upon selling the loan five-minutes after signing to a financial institution that would bundle that loan with other loans and sell them as bond-like investments. Thus, the bank couldn't care whether the borrower was a good risk or bad one. Therefore, they made money on the volume of loans not the quality. That's one of the perverse incentives and had nothing to do with the government but had everything to do with greed.
The government didn't have to twist the bank's arms to lend to unworthy borrowers. The banks and mortgage companies were eager to do it and advertised for borrowers. We all heard the TV ads - "no credit check, no asset check, no problem."
Banks relaxed their standards of lending because the brokers got rich relaxing those standards.
As I've said before, Freddie and Fanny Mac were minor players in this market.
You understand all the moving parts except one: the guarantees provided by Fannie and Freddie were the key to making the mortgage bonds salable. Fannie and Freddie set the terms and applied the guarantees--Countrywide was their biggest producer. Fannie and Freddie were at the heart of the crisis--not minor players.
Curious that you claim Bush ran the economy off "the cliff" because I made the best money in my life during the Bush Presidency and always had numerous jobs available to me. In fact, dealerships used to send me letters in the mail all the time trying get me to come work for them. Unemployment averaged about 5% for most of his presidency, inflation was low and the economy grew. So what's the beef?
Curious that you claim Bush ran the economy off "the cliff" because I made the best money in my life during the Bush Presidency and always had numerous jobs available to me. In fact, dealerships used to send me letters in the mail all the time trying get me to come work for them. Unemployment averaged about 5% for most of his presidency, inflation was low and the economy grew. So what's the beef?
The problem is the U.S. can't compete on many levels of production with other countries. The only way to fix that is to go their way which is slave labor or urge them to come your way meaning more benefits, better wages, overall making their workers more expensive so they're less competitive with you.
If I wanted to help someone to open a business all I would need to do is look at all the stipulations for hiring 5, 10, 50 workers, etc and I would just remove them all with the exception of tax forms. If you can build, create, make, come up with, invent, something that people need and are willing to pay for, great. The best ideas win.
Remove the minimum wage and shut down Obamacare. Drop the corporate tax rate to zero and no industry gets subsidized unless it's a matter of national security. Yes, wages will go down, they're stagnant and going down already. You'll just speed up the process and in return your UE rate will plummet.
Last edited by BigJon3475; 09-10-2011 at 11:01 AM..
The problem is the U.S. can't compete on many levels of production with other countries. The only way to fix that is to go their way which is slave labor or urge them to come your way meaning more benefits, better wages, overall making their workers more expensive so they're less competitive with you.
You said it in a nutshell. We cannot build expensive items here and expect to export them to countries where they will sell for 1/4 of the cost to produce them. People in India and China cannot afford $30K vehicles.
But denial about this is strong so until the majority wake up to this fact we will continue to live in denial and wait for those jobs to "return".
You said it in a nutshell. We cannot build expensive items here and expect to export them to countries where they will sell for 1/4 of the cost to produce them. People in India and China cannot afford $30K vehicles.
But denial about this is strong so until the majority wake up to this fact we will continue to live in denial and wait for those jobs to "return".
We can tax the imports. We built expensive items here before and Americans had wages that allowed them to buy them. Unemployed Americans also cannot afford $30K vehicles.
If Obama really gave a damn about Americans, he would have tackled the problem of globalism, NAFTA, "free trade", and so on and wouldn't just be doing speeches pretending to care.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
