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Actually Main Street is not doing that bad either - not great mind you, but not as bad as many people think. The ratio of corporate debt to cash holdings is at a RECORD LOW. Many US Corporations are pretty cash rich right now and are merely lacking confidence yet that the recovery is sustainable before they go ahead and spend for either expansion or modernization - but that time WILL come (and sooner than most people think in my opinion).
"U.S. corporate borrowers amassed the most cash relative to debt on record through the fourth quarter and will likely preserve cash levels this year, supporting corporate bonds, Morgan Stanley said on Friday. ... Morgan Stanley's report was based on fourth quarter results from over 200 nonfinancial, investment-grade U.S. companies."
Nice find, Ken. If I'm not mistaken government aid has decreased in a lot DJIA components yet their stock continues to rise. And keep in mind not even all the stimulus money has been spent either.
Oh bull.
What makes you think I'm not affected?
With somewhere between 1/10th and 1/5th of the population either unemployed or underemployed most people are either affected directly who know someone close to them that is affected directly.
One way or another the vast majority of people have been affected by this recession so your argument is just silly.
Whether or not I'm affected personally doesn't change the reality of the situation ONE BIT. I really doubt that there's many people in this country with your supposed "if it doesn't effect me, it's not true" attitude.
Get real.
Ken
This person has a really bad attitude. Yours didn't sound that different. I am not saying that it was the same I'm just saying that it didn't sound that different. Thank you for clarifying that you are different. Really thank you.
Quote:
Originally Posted by kentuckydad95
Sure, there are a lot of good people who need the unemployment $$$ they get and there are plenty of others who are scumbags who will sit at home and watch Jerry Springer until they die collecting our tax dollars. Where is the motivation to find a new job? I am freaking sick of it. SIX MONTHS MAX!!! Then if you are lying in the street hungry and broke...too bad. Motivation is the key. As long as our moronic government keeps shelling out money, the motivation factor is at zero.
Credit-Suisse's debt strategists go after the Debt-To-GDP chart (right) that we and others have used to conclude that the US economy needs to shed about $25 trillion of debt to get back to sustainable levels. Specifically, they suggest that the chart is "technically wrong and analytically meaningless"
This person has a really bad attitude. Yours didn't sound that different. I am not saying that it was the same I'm just saying that it didn't sound that different. Thank you for clarifying that you are different. Really thank you.
You're quite welcome.
I understand what that poster is saying, and there IS truth to the fact that too much dependence on government support DOES breed laziness and dependence on the government. However, it's also true that there really are people out there who NEED the support. In some cases people truly are not employable (folks with mental or physical problems for example - or those trapped in a location where there truly are no jobs (though one can certain argue that THOSE people NEED to MOVE)). Right now there are LOT of people who really need government help.
The truth is, it's a fine line between providing NEEDED and NECESSARY support to ensure political and economic stablity and overprotecting people from unavoidable economic problems. I don't profess to know all the answers in this regard - and ANYONE who does has an overly inflated opinion of themselves. In this particular instance however, I think it's pretty clear that this is an extreme situation that calls for extreme measures. The economic pain brought about by THIS recession is unmatched in my 50+ year lifetime and I believe that distasteful as it may be, it calls for extraordinary government support (this is why even GW saw the wisdom of that) in order to keep things from being a WHOLE LOT WORSE.
Once this economic crises is over and we are well on the road to recovery then the deficit NEEDS to be addressed - but this is NOT the time to do so since any attempt to cut government spending at this particular time is bound to result in even MORE layoffs - which will mean even MORE government outlay in the form of unemployment etc and even LESS government revenues in the form of taxes - ALL of which will make the deficit even WORSE than if the stimulus is doing.
Have you noticed what it cost to make that happen? When it's all said and done, the only significant thing created was trillions in new debt and a bigger problem for the future. Forgive me if I don't feel like celebrating.
None of this 'improvement' would have happened if AIG, Goldman, etc. had not been bailed out.
I understand what that poster is saying, and there is truth to the fact that too much dependence on government support does breed laziness and dependence on the government. However, it's also true that there really are people out there who need the support. In some cases people truly are not employable (folks with mental or physical problems for example - or those trapped in a location where there truly are no jobs (though one can certain argue that those people need to move)). Right now there are lot of people who really need government help.
The truth is, it's a fine line between providing needed and necessary support to ensure political and economic stablity and overprotecting people from unavoidable economic problems. I don't profess to know all the answers in this regard - and anyone who does has an overly inflated opinion of themselves. In this particular instance however, i think it's pretty clear that this is an extreme situation that calls for extreme measures. The economic pain brought about by this recession is unmatched in my 50+ year lifetime and i believe that distasteful as it may be, it calls for extraordinary government support (this is why even gw saw the wisdom of that) in order to keep things from being a whole lot worse.
Once this economic crises is over and we are well on the road to recovery then the deficit needs to be addressed - but this is not the time to do so since any attempt to cut government spending at this particular time is bound to result in even more layoffs - which will mean even more government outlay in the form of unemployment etc and even less government revenues in the form of taxes - all of which will make the deficit even worse than if the stimulus is doing.
Ken
Quote:
Originally Posted by newonecoming
this is where i put my idea on how to get things going fast.
:d
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