unemployment up to 9.8

[bam15]

You are an attorney and had to take out a loan for a new car.........nice practice you have there Scooter.

He bought a lambo.

 

[lawgator1]

how does you getting a car loan and a CC offer equal all that? Plus, not sure it's a good idea for people to start loading up on plastic again

It isn't. But they will. Plus for purchases like new refrigerators or couches or what have you, financing on credit cards is pretty common for a lot of folks. And now that they might feel a little more secure about their own futures, it is definitely ebbing up.

 

[utvolpj]

It isn't. But they will. Plus for purchases like new refrigerators or couches or what have you, financing on credit cards is pretty common for a lot of folks. And now that they might feel a little more secure about their own futures, it is definitely ebbing up.

it's common, it's idiotic and basically what got us in this mess. If people were without that debt when jobs started being lost their lives would have been in much better shape.

 

[bam15]

it's common, it's idiotic and basically what got us in this mess. If people were without that debt when jobs started being lost their lives would have been in much better shape.

Unfortunately, a lot of well-meaning people don't possess something called common-sense.

 

[Vol423]

in california all they do is send you a form where you say you have looked for a job over the past month. so i doubt the weather woudl stop anyone there.

Well, it's certainly nice to know that they do their due diligence before shelling out our tax dollars.

 

[Vol423]

Corporate profits are indeed way up.

That's quite a feat since the taxpayers have so conveniently footed the bill for every stupid and/or fraudulent decision made by many corporations over the past decade, and the SEC has conveniently allowed the banks to ignore mark-to-market accounting so they don't have to recognize their losses on real estate loans.

 

[tigervol9802]

it's common, it's idiotic and basically what got us in this mess. If people were without that debt when jobs started being lost their lives would have been in much better shape.

If it wasn't for insane amounts of debt and the constant staying in debt, this mess would have never had gotten as bad as it did in the first place.

 

[BigPapaVol]

You seem to be ignoring the reality that it could be a lot worse. Between he and Bush and TARP/Stimulus the argument is that had those things not been done then the entire banking and credit industries might have completely seized up.

As is, I just financed a new car and am getting ads in the mail again for new credit cards. All that leads to consumer spending, which leads to demand outpacing production and inventory, leads to jobs to catch up.

It isn't going to happen overnight.

It is painfully obvious that the GOP and conservatives are actually rooting at this point for unemployment to stay high. Their own short-sighted self-interest is causing them to hope that the economy still sucks come November 2012.

Frankly, it couldn't be a lot worse. The FED simply did what it had to do. There were no options. It could not have been any worse or gotten any worse.

As to your personal example of heightened consumer spending / confidence - allsome. It's apparently true.

Your absurdity about conservatives wanting a miserable economy warrants no response.
Posted via VolNation Mobile

 

[Vol423]

And now that they might feel a little more secure about their own futures, it is definitely ebbing up.

You've got to be joking.

 

[lawgator1]

That's quite a feat since the taxpayers have so conveniently footed the bill for every stupid and/or fraudulent decision made by many corporations over the past decade, and the SEC has conveniently allowed the banks to ignore mark-to-market accounting so they don't have to recognize their losses on real estate loans.

You aren't going to get an argument from me.

Does anyone else see the irony that corporate executives, who bemoan the use of their tax dollars to pay for entitlements to the lower class, also have no problem using accounting techniques to disregard their own bad financial decisions? Or to accept government, i.e. taxpayer, assistance while they still pulled down seven or even eight figure bonuses for having overseen the near collapse of the economy?

 

[milohimself]

Gallup Finds U.S. Unemployment Up Slightly in January to 9.8%

i wonder if that's gonna help hussein's approval#

Hussein was dug out of a whole and hung sometime in the last couple years, IMO

JMO

 

[BigPapaVol]

You aren't going to get an argument from me.

Does anyone else see the irony that corporate executives, who bemoan the use of their tax dollars to pay for entitlements to the lower class, also have no problem using accounting techniques to disregard their own bad financial decisions? Or to accept government, i.e. taxpayer, assistance while they still pulled down seven or even eight figure bonuses for having overseen the near collapse of the economy?

Fallacy. The guys at the helm during the decisions that ate all the capital were fired, top to bottom.
Posted via VolNation Mobile

 

[bam15]

Hussein was dug out of a whole and hung sometime in the last couple years, IMO

JMO

Might as well start calling Bush, Walker.

Sidney and Louise didn't give Hussein much of a fight.

 

[NEO]

but ... but ... all those shovel ready jobs. They were going to bring the country back to life again and put unemployment back to BUSH years. What happened?

I know what will fix it! We need to "invest" another trillion dollars into shovel ready jobs and clean air jobs. That will do it!

More "investing." Who's with me? I swear it will work.

 

[sjt18]

You seem to be ignoring the reality that it could be a lot worse. Between he and Bush and TARP/Stimulus the argument is that had those things not been done then the entire banking and credit industries might have completely seized up.

Actually... what you do not realize is that it didn't have to be this bad.

Bush's last two years and Obama's first four are pretty consistent. One bail out and bad decision followed by another.

The good news is that the economy is finally overcoming these horrible policy decisions in part due to the coming gridlock that will prevent more bad decisions and perhaps turn some back. You can be sure that businesses grow more confident each time a court rules against Obamacare.

For those of you who continue to poopoo the economy, you might want to scale it back. Obama's policies weren't able to kill the golden goose yet.

 

[sjt18]

The market is up substantially since 2008. Corporate profits are indeed way up.

.

Wait. We have Gibbs saying that's the worst possible thing that could happen and you gloating about it. What gives? I thought Obama and the left thought corporations were greedy and evil... surely he didn't have anything going on with his big business brethren in the back room...

To answer your assertion, the economy's health depends on profits and income among investors and small businessmen being "indeed way up"... you know, the guys Obama stupidly wants to target with a tax increase.

 

[utgibbs]

Unfortunately, a lot of well-meaning people don't possess something called common-sense.

You aren't going to get an argument from me.

Does anyone else see the irony that corporate executives, who bemoan the use of their tax dollars to pay for entitlements to the lower class, also have no problem using accounting techniques to disregard their own bad financial decisions? Or to accept government, i.e. taxpayer, assistance while they still pulled down seven or even eight figure bonuses for having overseen the near collapse of the economy?

The REAL social safety net is, and always has been, for Capital. Whereas Welfare Moms (sic) are basically a mythological creation, the Welfare Dads are very real and have always been quick to accept the gracious succor of the American taxpayer.

Although I would like to biyotch slap conspicuous consumerism to the Stone Age, I do have a problem with the endless parroting of "disciplining the "idiots"" who go into too much debt, when a concerted, effective, and scientific marketing campaign has been directed at them for several years. Many of the mortgages, as we know, were deceitfully marketed as well as well as the interest rates on the credit cards. To say nothing of the "Quick Cash" phenomenon which is, frankly, the sign of a debauched culture.

Yes, let's discipline the "idiots" (educate would be the better word, IMHO). But let's be consistent and excoriate and punish those responsible - the real architects of this false economy who were educated and who knew EXACTLY what they were doing.

PS - I know y'all didn't use "idiot" but I've seen it used in this or another thread.

 

[utgibbs]

Wait. We have Gibbs saying that's the worst possible thing that could happen and you gloating about it. What gives? I thought Obama and the left thought corporations were greedy and evil... surely he didn't have anything going on with his big business brethren in the back room...

To answer your assertion, the economy's health depends on profits and income among investors and small businessmen being "indeed way up"... you know, the guys Obama stupidly wants to target with a tax increase.

The market is wholly divorced from the real economy as this OP and the comments of Ben Bernacke on Thursday evidence. In fact, it's been wholly divorced since the mid-1970s when real purchasing power has stagnated and declined in the United States.