Broader Measure of U.S. Unemployment Stands at 17.5%

[Corporate Death]

Originally Posted by movin'on

I'm no genius, but sorry, we can just stick a fork in it. We owe too much, have our resources bottled up overseas in things that don't make sense. In short, we're screwed. We're broke, have no assets (sorry, least the ones we don't owe), have outsourced our jobs. Why do we continue to think there is a way out? The jig is up. And this IS the truth, but no one will say it and declare it. Time for the USA to file bankruptcy, and then just what happens?

I've had those thoughts in the back of my mind for quite some time now, but in order to keep from crying myself to sleep every night, I'm going to continue to play dumb and stay in my state of denial. I truly TRULY hope you and I are wrong. If we are not, the US and indeed the world, is farked.

[movin'on]

Originally Posted by Corporate Death

I've had those thoughts in the back of my mind for quite some time now, but in order to keep from crying myself to sleep every night, I'm going to continue to play dumb and stay in my state of denial. I truly TRULY hope you and I are wrong. If we are not, the US and indeed the world, is farked.

You might as well, everyone else is.

[Leisesturm]

Originally Posted by nicet4

Businesses started buying things like crazy, new plant machines, upgrading buildings, trucks, cars, tools and you name it we were buying it.

It did not, it started financing things like crazy. People with money hate to 'buy' anything. Millionaires finance car purchases that they could simply pay cash for. Businesses finance new hires, capital improvements, everything. That is the problem now. Financing is not there because the banks (still) aren't lending. Everyone is risk averse to an absurd degree and it has paralyzed the economy and the longer it remains out of action the more people find ways around the problem. Like squeezing excess productivity out of in place workers. Taking back pension programs, health insurance, hiring perks has kept profits at pre-meltdown levels despite the appalling unemployment figures. Maybe banks will lend again but they may find no one wants the money. That will be bad.

H

[junior 88 fan]

Shocked to see a story like that in a liberal paper like the NY Times. Many have said it to be at least that and much higher here in MI. Of course it is not exposed in MI or in DC as the media has a vested interest in making their boyee look good. They would have had GWB's head on a platter by now if he was in charge. Maybe now that the ongoing 'campaign' to socialize healthcare and turn it into a third world system is over, Noblahblah can address the issues holding this country hostage and do a massive tax lowering push in order to create the atmoshere for corps to hire. Oh wait, he nor taxocrats believe in that so I guess we're hosed and will continue to rot away looking for work. How's hope and change working for you???!!!

[GypsySoul22]

Originally Posted by 7 Wishes

Does that mean you finally found that elusive P/T job?

Nope, instead of the 10% I am now one of the 17.5%.

[stevemorse]

Originally Posted by nicet4

What happened would be very unpopular in today's political climate.

It was the investment tax credit.

The investment tax credit was a 10% income tax credit on anything purchased for business.

Over the course of one year I, being a rich business owner and fat cat and all, purchased three new trucks and I can't remember how much I spent but I automatically received a 10% investment tax credit for doing so.

Businesses started buying things like crazy, new plant machines, upgrading buildings, trucks, cars, tools and you name it we were buying it.

Of course with these new trucks I did an evil thing and that was I hired three new two man crews to work on jobs other people were creating. In two years manufacturing was booming.

The worst thing to be done right now is take what money there is left away from small businesses right now. A horrible mistake but the government has to many people thinking only the government can "fix" things when in actuality they are the major cause of the problem in the first place.

I agree with you however this is just what Almight Obama wants to do. He is going to destroy small business. He sure seem like he want to wreck the economy. Good post.

[Leisesturm]

Originally Posted by junior 88 fan

Shocked to see a story like that in a liberal paper like the NY Times. Many have said it to be at least that and much higher here in MI. Of course it is not exposed in MI or in DC as the media has a vested interest in making their boyee look good. They would have had GWB's head on a platter by now if he was in charge. Maybe now that the ongoing 'campaign' to socialize healthcare and turn it into a third world system is over, Noblahblah can address the issues holding this country hostage and do a massive tax lowering push in order to create the atmoshere for corps to hire. Oh wait, he nor taxocrats believe in that so I guess we're hosed and will continue to rot away looking for work. How's hope and change working for you???!!!

American corporations don't pay taxes! How can you give them a break from nothing!! Do you own a business? Are taxes really a significant burden on your profits? Really? Business wants cash, lucre, scratch, green!! That's what they want to make them create jobs. M-o-n-e-y. A banks money. At favorable rates of interest, please. A bank will make them use the money for what they say its for. The government gives it to them with no strings attached so they park it overseas and whine for more. If banks lend again there will be jobs. Some of them may be outsourced but there will be a net increase of jobs proportionate to the amount of money entering the economy from the financial sector.

I suppose you don't get that the economy going into the election was the worst since the Great Depression. I just got through reading on the mess FDR inherited from Hoover. It wasn't pretty. I think the comparison to Bush/Obama is apt. FDR tried hard but could not fix the economy to everyones satisfaction. World War II did that. Hmmmm. The New Deal wasn't popular but no one called FDR crazy, Almighty, or a taxocrat. They recognized that a dire situation requires desperate measures to solve.

I challenge you to outline a rational plan for the re-solvency of America that does not require sacrifice. Existing revenue streams are off the table. You cannot touch Executive Compensation and you are mandated to reduce or eliminate Corporation Taxes now in place. You have two days to formulate your plan.

One last thing, I know it is an awful imposition, but even at the worst of times it never ocurred to me to disrespect the former Pres. Bush. I never called him anything but Pres. Bush even while disagreeing strongly with his policies. The never ending escalation of nicknames for our new Pres. Obama should cease. For one thing it shows everyone that the true source of your pique is Obama the man and not Obama the President. That there compromises any argument you might want to make. This is way too serious a situation to trivialize with petty name calling and mindless spouting of partisan talking points.

H

[dubfan]

Originally Posted by Leisesturm

One last thing, I know it is an awful imposition, but even at the worst of times it never ocurred to me to disrespect the former Pres. Bush. I never called him anything but Pres. Bush even while disagreeing strongly with his policies. The never ending escalation of nicknames for our new Pres. Obama should cease. For one thing it shows everyone that the true source of your pique is Obama the man and not Obama the President. That there compromises any argument you might want to make. This is way too serious a situation to trivialize with petty name calling and mindless spouting of partisan talking points.

Those people resort to polemics because they lack the ability to form a cohesive rational argument and are ignorant of the relevant issues. They are products of an education system that actively discourages critical thinking, and of politicized media outlets that give them the slogans and labels they need to create a catharsis for their frustration. This is why there is no point in arguing with these people. They will never understand how they have been betrayed by their own government in favor of corporate interests.