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Old 04-29-2010, 01:50 AM
 
10,494 posts, read 24,377,834 times
Reputation: 6696

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This is a very good article that reinforces exactly what I have been saying. People wonder why I hate the people on Wall Street.

The Economic Recovery Is Moving Along Quite Well – For The Boys Down On Wall Street
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Old 04-29-2010, 04:31 AM
 
12,869 posts, read 13,677,843 times
Reputation: 4453
it is going to be impossible to continue with extend and pretend when we have these facts:

The truth is that there are not nearly enough jobs for everyone. The number of unemployed Americans per job opening hit 5.5 in February.

Even many of those who can get jobs find themselves in bad situations. Gallup's underemployment measure hit 20.0% on March 15th.

looking ahead, that will mean less tax revenue coming in, which will mean government cuts, which will also mean less government spending.

this cannot continue indefinitely. we have an administration which is trying to implement a global tax (through cap and trade) which will further hurt americans (although it will greatly help goldman sachs and the chicago climate exchange). wake up america to an administration which is trying to further hamper employment and further hurt the private sector INTENTIONALLY.

it is no accident that this administration is trying to encourage illegal immigration and fight those who would wish to stop it, with some even calling those who are for enforcement of our existing laws "nazis" and encouraging boycotts of american states and american business!

this insanity needs to end.

Last edited by floridasandy; 04-29-2010 at 05:26 AM..
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Old 04-29-2010, 05:54 AM
 
5,617 posts, read 14,314,505 times
Reputation: 2781
Quote:
Originally Posted by floridasandy View Post
it is going to be impossible to continue with extend and pretend when we have these facts:

The truth is that there are not nearly enough jobs for everyone. The number of unemployed Americans per job opening hit 5.5 in February.

Even many of those who can get jobs find themselves in bad situations. Gallup's underemployment measure hit 20.0% on March 15th.

looking ahead, that will mean less tax revenue coming in, which will mean government cuts, which will also mean less government spending.

this cannot continue indefinitely. we have an administration which is trying to implement a global tax (through cap and trade) which will further hurt americans (although it will greatly help goldman sachs and the chicago climate exchange). wake up america to an administration which is trying to further hamper employment and further hurt the private sector INTENTIONALLY.

it is no accident that this administration is trying to encourage illegal immigration and fight those who would wish to stop it, with some even calling those who are for enforcement of our existing laws "nazis" and encouraging boycotts of american states and american business!

this insanity needs to end.


I love your posts. I think you are so smart and on target!!! I wish more people really thought the way you did.

Why do you think they want to encourage illegals? This stumps me? Votes? But they are illegal right now? Thanks and keep posting I think your great!!!
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Old 04-29-2010, 10:53 AM
 
Location: Chicagoland
5,724 posts, read 9,219,734 times
Reputation: 6923
Default Wall Street boys are "smarter and more vicious and are going to survive..."

An email being circulated around Wall Street this morning...

We are Wall Street. It's our job to make money. Whether it's a commodity, stock, bond, or some hypothetical piece of fake paper, it doesn't matter. We would trade baseball cards if it were profitable. I didn't hear America complaining when the market was roaring to 14,000 and everyone's 401k doubled every 3 years. Just like gambling, its not a problem until you lose. I've never heard of anyone going to Gamblers Anonymous because they won too much in Vegas.

Well now the market crapped out, & even though it has come back somewhat, the government and the average Joes are still looking for a scapegoat. God knows there has to be one for everything. Well, here we are.

Go ahead and continue to take us down, but you're only going to hurt yourselves. What's going to happen when we can't find jobs on the Street anymore? Guess what: We're going to take yours. We get up at 5am & work till 10pm or later. We're used to not getting up to pee when we have a position. We don't take an hour or more for a lunch break. We don't demand a union. We don't retire at 50 with a pension. We eat what we kill, and when the only thing left to eat is on your dinner plates, we'll eat that.

For years teachers and other unionized labor have had us fooled. We were too busy working to notice. Do you really think that we are incapable of teaching 3rd graders and doing landscaping? We're going to take your cushy jobs with tenure and 4 months off a year and whine just like you that we are so-o-o-o underpaid for building the youth of America. Say goodbye to your overtime and double time and a half. I'll be hitting grounders to the high school baseball team for $5k extra a summer, thank you very much.

So now that we're going to be making $85k a year without upside, Joe Mainstreet is going to have his revenge, right? Wrong! Guess what: we're going to stop buying the new 80k car, we aren't going to leave the 35 percent tip at our business dinners anymore. No more free rides on our backs. We're going to landscape our own back yards, wash our cars with a garden hose in our driveways. Our money was your money. You spent it. When our money dries up, so does yours.

The difference is, you lived off of it, we rejoiced in it. The Obama administration and the Democratic National Committee might get their way and knock us off the top of the pyramid, but it's really going to hurt like hell for them when our fat a**es land directly on the middle class of America and knock them to the bottom.

We aren't dinosaurs. We are smarter and more vicious than that, and we are going to survive. The question is, now that Obama & his administration are making Joe Mainstreet our food supply…will he? and will they?



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Old 04-29-2010, 11:09 AM
 
2,721 posts, read 3,914,215 times
Reputation: 1303
Quote:
Originally Posted by GoCUBS1 View Post
An email being circulated around Wall Street this morning...

We are Wall Street. It's our job to make money. Whether it's a commodity, stock, bond, or some hypothetical piece of fake paper, it doesn't matter. We would trade baseball cards if it were profitable. I didn't hear America complaining when the market was roaring to 14,000 and everyone's 401k doubled every 3 years. Just like gambling, its not a problem until you lose. I've never heard of anyone going to Gamblers Anonymous because they won too much in Vegas.

Well now the market crapped out, & even though it has come back somewhat, the government and the average Joes are still looking for a scapegoat. God knows there has to be one for everything. Well, here we are.

Go ahead and continue to take us down, but you're only going to hurt yourselves. What's going to happen when we can't find jobs on the Street anymore? Guess what: We're going to take yours. We get up at 5am & work till 10pm or later. We're used to not getting up to pee when we have a position. We don't take an hour or more for a lunch break. We don't demand a union. We don't retire at 50 with a pension. We eat what we kill, and when the only thing left to eat is on your dinner plates, we'll eat that.

For years teachers and other unionized labor have had us fooled. We were too busy working to notice. Do you really think that we are incapable of teaching 3rd graders and doing landscaping? We're going to take your cushy jobs with tenure and 4 months off a year and whine just like you that we are so-o-o-o underpaid for building the youth of America. Say goodbye to your overtime and double time and a half. I'll be hitting grounders to the high school baseball team for $5k extra a summer, thank you very much.

So now that we're going to be making $85k a year without upside, Joe Mainstreet is going to have his revenge, right? Wrong! Guess what: we're going to stop buying the new 80k car, we aren't going to leave the 35 percent tip at our business dinners anymore. No more free rides on our backs. We're going to landscape our own back yards, wash our cars with a garden hose in our driveways. Our money was your money. You spent it. When our money dries up, so does yours.

The difference is, you lived off of it, we rejoiced in it. The Obama administration and the Democratic National Committee might get their way and knock us off the top of the pyramid, but it's really going to hurt like hell for them when our fat a**es land directly on the middle class of America and knock them to the bottom.

We aren't dinosaurs. We are smarter and more vicious than that, and we are going to survive. The question is, now that Obama & his administration are making Joe Mainstreet our food supply…will he? and will they?



Yeah, I'm sure some guy from wall street is going to come and take my job as a highly trained engineer. Maybe if he goes back to school for a bunch of years and learns how the real world operates...

Is that why most business oriented majors are out of work right now and can't seem to find any jobs?
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Old 04-29-2010, 11:11 AM
 
Location: Alaska & Florida
1,629 posts, read 5,012,294 times
Reputation: 834
Recoveries have to start with businesses. Until demand is high enough for their products and services, businesses won't start hiring again. I've also made a ton of money trading on Wall Street. It's not too late to hop on board.
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Old 04-29-2010, 11:25 AM
 
Location: San Diego
2,917 posts, read 6,857,296 times
Reputation: 2068
Isn't this the way its ALWAYS been? Just because the economy is struggling now doesn't mean everyone changes what they do. Not everyone is affected by this recession. In fact, many people have and will gain from this recession. For example, I've pretty much benefited from this recession. I was able to purchase a home (never ever would have been able to do so before the recession) and I still have a quality amount of savings in the bank. However, my parents have been hit hard thanks to the recession which in turn, affects me greatly.
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Old 04-29-2010, 11:28 AM
 
5,617 posts, read 14,314,505 times
Reputation: 2781
Quote:
Originally Posted by GoCUBS1 View Post
An email being circulated around Wall Street this morning...

We are Wall Street. It's our job to make money. Whether it's a commodity, stock, bond, or some hypothetical piece of fake paper, it doesn't matter. We would trade baseball cards if it were profitable. I didn't hear America complaining when the market was roaring to 14,000 and everyone's 401k doubled every 3 years. Just like gambling, its not a problem until you lose. I've never heard of anyone going to Gamblers Anonymous because they won too much in Vegas.

Well now the market crapped out, & even though it has come back somewhat, the government and the average Joes are still looking for a scapegoat. God knows there has to be one for everything. Well, here we are.

Go ahead and continue to take us down, but you're only going to hurt yourselves. What's going to happen when we can't find jobs on the Street anymore? Guess what: We're going to take yours. We get up at 5am & work till 10pm or later. We're used to not getting up to pee when we have a position. We don't take an hour or more for a lunch break. We don't demand a union. We don't retire at 50 with a pension. We eat what we kill, and when the only thing left to eat is on your dinner plates, we'll eat that.

For years teachers and other unionized labor have had us fooled. We were too busy working to notice. Do you really think that we are incapable of teaching 3rd graders and doing landscaping? We're going to take your cushy jobs with tenure and 4 months off a year and whine just like you that we are so-o-o-o underpaid for building the youth of America. Say goodbye to your overtime and double time and a half. I'll be hitting grounders to the high school baseball team for $5k extra a summer, thank you very much.

So now that we're going to be making $85k a year without upside, Joe Mainstreet is going to have his revenge, right? Wrong! Guess what: we're going to stop buying the new 80k car, we aren't going to leave the 35 percent tip at our business dinners anymore. No more free rides on our backs. We're going to landscape our own back yards, wash our cars with a garden hose in our driveways. Our money was your money. You spent it. When our money dries up, so does yours.

The difference is, you lived off of it, we rejoiced in it. The Obama administration and the Democratic National Committee might get their way and knock us off the top of the pyramid, but it's really going to hurt like hell for them when our fat a**es land directly on the middle class of America and knock them to the bottom.

We aren't dinosaurs. We are smarter and more vicious than that, and we are going to survive. The question is, now that Obama & his administration are making Joe Mainstreet our food supply…will he? and will they?



I think this is true to a point. They stop spending and we all lose. I actually think its a good letter.
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Old 04-29-2010, 11:29 AM
 
Location: Southern New England
379 posts, read 1,251,647 times
Reputation: 256
Yes, broadly speaking, I think it's funny that people hold the gov't responsible for creating jobs. Isn't the private sector the last place anyone wants the government. Gov't can provide incentives though, but who is responsible for economic development/R&D brainstorming- industry. Not even those on Wall Street neither.
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Old 04-29-2010, 06:17 PM
 
Location: Warwick, RI
3,600 posts, read 4,512,066 times
Reputation: 5825
Quote:
Gov't can provide incentives though, but who is responsible for economic development/R&D brainstorming- industry.
Let's face facts here - a business is started with one goal and one goal only in mind - MAKING MONEY. They are there to make a profit that they can use to grow and expand. They are not there soley to provide us with jobs, they are not there as social experiments, and they are certainly not there to be ATM machines for a massively overspending, power hungry government. Since the dawn of the industrial revolution, it has been business and industry that has made us a great nation, not goverment. The government wouldn't have to provide "incentives" if they would just stop throwing roadblocks in front of economic growth and start making the overall environment more business friendly. The government needs to cut way, way back on our deficit spending, cut the crap out of entitlements, and do something to address the astronomical national debt and the impending insolvency of Social Security, instead of running around calling for more regulation of banks. What good does it do to create new laws and regulations, when the regulators UTTERLY FAILED to enforce the rules that are ALREADY in effect? Congress should be grilling ITSELF for creating the subprime mortgage meltdown at Fannie and Freddie that led to this recession instead of Goldman Sachs who merely profited off of it. Hell, given Goldmans business preformance, maybe the goverment should be studying and learning from their sucess instead of trying to crucify them.

Bottom line - it's business and industry that provides this country with "the food on our plates", as the email above says. Our government merely takes and squanders vast amounts of our national resources, uses politics and class warefare to divide the American people and, with very few exceptions, provides nothing of value in return. Which side should be REALLY be mad at here?
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