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11-19-2008, 11:12 AM
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16,433 posts, read 20,705,284 times
Reputation: 9567
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I'll give you President Hoover's explanation for 25% unemployment : "The reason the rate of unemployment keeps rising is that every day more and more people are out of work."
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11-19-2008, 02:09 PM
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12,869 posts, read 13,971,428 times
Reputation: 4453
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the dow took an ugly fall again today. i see that they are asking for help for wall street workers now, so you know things are getting bad.
Conn., NY, NJ Seek Aid For Wall Street Workers -- Courant.com
i have to say that i find it annoying that they might get 12,500 to "hold them over". i don't see why they don't get unemployment just like anybody else who gets laid off. |
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11-19-2008, 02:23 PM
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5,671 posts, read 9,291,746 times
Reputation: 8190
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Yes, there is unemployment benefit. They should get that like everybody else.
Man this bailout thing is turning this country into a welfare state -- one decidedly in favor of Wall Street, I might add.
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11-19-2008, 02:35 PM
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Location: Los Angeles
494 posts, read 1,692,194 times
Reputation: 233
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Quote:
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The governors say the emergency grant would allow the states to give each laid-off worker $12,500 to help them find jobs and relocate, and provide them with other services.
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I don't think $12,500 is enough nowadays... |
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11-20-2008, 05:36 AM
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3,283 posts, read 4,916,847 times
Reputation: 753
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Quote:
Originally Posted by jetway777
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what an absolute load of tripe. it really irks me when the misinformed blame the lack of regulation for this mess. if the risk/reward balance wasn't distorted by government guarantees, we wouldn't be in this mess. when the govt guarantees risk, banks behave irresponsibly. it's not rocket science.
if i tell you to go to vegas with your college money and i guarantee to make good your losses what will you do? |
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11-20-2008, 06:06 AM
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3,283 posts, read 4,916,847 times
Reputation: 753
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Quote:
Originally Posted by Bideshi
I'll give you President Hoover's explanation for 25% unemployment : "The reason the rate of unemployment keeps rising is that every day more and more people are out of work."
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the thing is that the 'new deal' was only a momentary respite. in 1937 we were back in recession 3 years into the new deal. that is what's going to happen here. obama is going inject trillions into this economy via his infrastructure stimulus. bridges, roads, airports, mass transit, energy generation projects are going to be put in place. some of it will prove useful, much of it will be a total waste of money. employment numbers will stabilise and perhaps even go up. in 5 years when everything is said and done, then what?
imo, all government stimulus, distorts demand. this creates massive mal investment. eventually the government runs out of bullets and can no longer stimulate the economy by createing credit, borrowing from overseas and printing money. |
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11-20-2008, 08:01 AM
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2,197 posts, read 7,026,378 times
Reputation: 1698
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Quote:
Originally Posted by floridasandy
the dow took an ugly fall again today. i see that they are asking for help for wall street workers now, so you know things are getting bad.
Conn., NY, NJ Seek Aid For Wall Street Workers -- Courant.com
i have to say that i find it annoying that they might get 12,500 to "hold them over". i don't see why they don't get unemployment just like anybody else who gets laid off. |
Maybe we should all write letters asking for funds to help us "adjust" to the losses in our retirement accounts and pensions that the financial services industry precipitated.
Let them get a taste of reality. I'm sure they'll agree it bites. |
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11-20-2008, 08:22 AM
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Location: Norman, OK
32 posts, read 81,503 times
Reputation: 26
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Quote:
Originally Posted by Bideshi
I'll give you President Hoover's explanation for 25% unemployment : "The reason the rate of unemployment keeps rising is that every day more and more people are out of work."
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Sounds like something Bush would say. |
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