[talaniman]

They have plenty to trickle down, but the redistribution of wealth was the slickest magic trick I have ever seen. I mean all the things they accuse progressives of, and the Prez, they have been doing a long time, and we just sat and watched.

Maybe this is a wake up call for people to take their country back from greedy corporations. Now lets see who should I vote for??

[speechlesstx]

Obama's economy is even worse than previously thought. And yes, it is HIS economy in spite of the fact that the left is still blaming Bush.

GDP Report Shatters Illusion of Jobless, Productivity-Packed Recovery
By Derek Thompson

Jul 29 2011, 12:59 PM ET 80
It's hard to overstate how much today's GDP report blew up our understanding of the recovery. The recession was deeper than we knew, and the economy is weaker than we thought. We weren't making new jobs, because we weren't making new things, period. The economy grew less than 1% in the first half of 2011.

Yesterday, analysts thought the economy was expanding by 2.5% a year. This morning, they learned GDP grew by only 1.6% in the last four quarters. This is a remarkable discovery. It's the difference between thinking we're expanding at a decent, if disappointing, pace, and knowing we're growing around half our historical norm.

Analysts also thought, as recently as twelve hours ago, that the economy declined 6.8% and 4.9% in the quarters bisected by Obama's inauguration. It turns out the actual declines were much steeper: 8.9% and 6.7%.

To adopt the president's favorite metaphor of the ditch and the driver: The ditch was a 33% deeper than we thought. And we're driving 33% slower than we hoped. Take a look at these graphs, via Economist, to soak it in:


And what about productivity? The silver lining of the recession had been that, with output climbing and employment flat, American workers were extending their lead over the rest of the world by supercharging productivity gains, which could pay off during the recovery. But now that the output numbers have been corrected, we have to change the story. Michael Mandel, an Atlantic columnist, writes on his personal blog:

Until this morning, the official data showed that the U.S. productivity growth accelerated during the financial crisis. Nonfarm business productivity growth supposedly went from a 1.2% annual rate in 2005-2007, to a 2.3% annual rate in 2007-2009. Many commentators suggested that this productivity gain, in the face of great disruptions, showed the flexibility of the U.S. economy.

Uh, oh. The latest revision of the national income accounts, released this morning, makes the whole productivity acceleration vanish. Nonfarm business productivity growth in the 2007-09 period has now been cut almost in half, down to only 1.4% per year

Illusion, the perfect choice of words to describe everything Obama. How about those jobs Mr. President?

[talaniman]

Where is the republican input on jobs? They are so busy destroying government, they haven't even mentioned how to create jobs. You can't just blame one person and let the rest off the hook. According to you, he isn't supposed to create jobs, job creators are.

[speechlesstx]

Where is the republican input on jobs?

Senate Republican Jobs Plan

They are so busy destroying government, they haven't even mentioned how to create jobs. You can't just blame one person and let the rest off the hook.

It was the president and his media accomplices that made the debt ceiling the only "crisis" being discussed.

According to you, he isn't supposed to create jobs, job creators are.

I give credit where credit is due. He's the one that claimed his porkulus bill "saved or created" some three million jobs, so let him defend it.

[talaniman]

We can argue it wasn't enough, but we have to also acknowledge that the right is no help at all. Funny how the ones screaming about what a waste it was went home and took credit for the results, and gladly so. Just look at Perry taking credit for jobs the stimulus created, and is still creating.

[speechlesstx]

Further evidence that businesses are afraid to do anything because of the uncertainty created by this administration.

Businesses are not comfortable hiring, taking on new projects, or doing much of anything because they have no way to predict what kinds of policies politicians will enact over the next couple of years and the effect those policies will have on them. What I’ve been hearing over the past week from major investors in the markets in New York is that to a man, CEOs and others with whom they speak regularly are frightened and paralyzed when it comes to new projects.

Have no fear though, Superman is going to take a taxpayer funded bus tour (campaign trip) through middle America as he "pivots to jobs" for the 15th time.

[Synnen]

Heh.

Try to work for a proprietary school right now.

We can't go forward with ANYTHING, because the rules and regulations from the DOE are subject to change practically every MINUTE

[speechlesstx]

Another good reason to abolish the DOE.

[Synnen]

/shrug... the DOE does good things.

Let's get rid of the double standard for proprietary schools versus state schools, though.

It's like any other business out there---the organizations that oversee it are part of the lobbying/moneymaking in Washington DC.

Just like part of the reason health care is so expensive is because of the AMA.

[speechlesstx]

While the president pivots to jobs for the 15th time, before he gets ready to "save or create" millions more jobs, his press secretary handed Republicans a new slogan: "the White House doesn't create jobs."

I wish they'd make up their mind.

P.S. Someone give Jake Tapper a show of his own.

[excon]

Businesses are not comfortable hiring, taking on new projects, or doing much of anything because they have no way to predict what kinds of policies politicians will enact over the next couple of years and the effect those policies will have on them.

Hello again, Steve:

That is the STUPIDEST thing I've EVER read about businessmen...

Let me see... I've got this NEW idea that's going to make MY business run better, but I'm NOT going to institute it because of policies that MIGHT be instigated?? Really?? Let me see. I've got this great NEW product I want to introduce, but I'm not going to because I'm worried about NATIONAL POLICIES??

Let me say again, that is the STUPIDEST thing I've ever read... The businessmen that DO what your STUPID writer said they're going to do, are going to go BROKE real fast!

excon

[Synnen]

Excon,

Love you, but you're wrong here.

We will NOT institute new policies and ideas right now because of the high costs involved in making those changes... and we KNOW the government is looking at changing the rules on how our specific business is going to be able to operate going forward.

It would be INCREDIBLY stupid to implement new policies and ideas right now for us, because the odds are that we'll have to reverse those decisions in less than a year... and then all of that money will have been spent for NOTHING.

I'm betting OTHER types of businesses are feeling the SAME way as my business.

[talaniman]

Uncertainty is a fancy word for FEAR, and fearful people make some crazy decisions. They are high risk business people. Doesn't matter who you blame YOUR fear on, its still yours to deal with. If you think you have a good plan or idea, have some courage and make it happen, and don't wait for someone to approve or disapprove it. That's crazy. That's not business. Now if you depend on DOE, or a bank or some other entity, well check with them and don't just sit in fear and do nothing. That's crazy. As you can see, this uncertainty crap is a smoke screen, because everyone who hollers uncertainty is already making loot hand over fist. The true job creators sit home because they are uncertain about a job, and the lending is so tight, because BIG banks don't lend to SMALL banks, and that's who lends to the majority of small business. Well guess who supports SMALL business, yep that's right, consumers with jobs, and a few bucks to spend. Those are facts, but uncertainty is easier to explain than DEMAND.

And what does Jakes grilling of the White House spokesman got to do with anything?

Oh back to uncertainty,

And I can prove it and I could spend the next 3 hours giving you examples of all of us in this market place that are frightened to death about all the new regulations, our health care costs escalate, regulations coming from left and right.”

Lets not forget where this uncertainty came from, rich people screwing up the economy. Till then, nobody gave a rats patoot about the debt, the deficit, regulations, or anything else except making and spending money. So blame your uncertainty on whatever you want. Live in all the fear you want. If you weren't doing the right things before you found out you were robbed, then you probably aren't going to do the right things after, if you didn't learn from the mistakes made before.

You can start by NOT listening to any fool that says we have a spending problem, and a debt problem, because all you have to do is Google 1936 recession, and see we have been down this road before, and it wasn't WWII that saved us then. Also see who was saying no, and watering down the stimulus back then. HMM!! No wonder there is uncertainty, because repeating mistakes would make me afraid too.

[speechlesstx]

Hello again, Steve:

That is the STUPIDEST thing I've EVER read about businessmen...

I can't help it if you refuse to listen to what they're saying.

[speechlesstx]

And what does Jakes grilling of the White House spokesman got to do with anything??

Um, everything. Someone in the mainstream media is holding the president accountable for all his bluster about jobs. Attaboy Jake!

[excon]

I can't help it if you refuse to listen to what they're saying.

Hello again, Steve:

What "THEY'RE" saying?? Why listen to what THEY say?? I'M a businessman. I'm one of THEM. If I listened to other businessmen, I'd be BROKE. I'm successful because I listen to ME. And, I'll tell you again how I run my business. When I see an opportunity in the market place, I TAKE it. I DON'T consider the political climate. I DON'T consider what the Wall Street Journal says. I don't consider what pundits say. I don't consider how much tax I'm going to have to pay on my profit. I only HOPE there's a profit to pay taxes on.

But, that's just me..

excon

[speechlesstx]

What "THEY'RE" saying???? Why listen to what THEY say??? I'M a businessman. I'm one of THEM. If I listened to other businessmen, I'd be BROKE. I'm successful because I listen to ME. And, I'll tell you again how I run my business. When I see an opportunity in the market place, I TAKE it.

You keep saying that.

No one quit doing business. No one is avoiding opportunities. That's why casinos are investing in Macau, that's where the opportunities are at the moment. If this administration wasn't such a "wet blanket" they'd be investing here, but this administration would rather Brazil drill for oil than the U.S.

I mean what don't you get? Tal and a gazillion other liberals keep whining about corporations sending jobs overseas. Well, what the heck is their incentive to expand in the U.S. under the current uncertainty over regulations, getting a boot on your neck for daring to tell the truth about what Obama policies are doing, or being punished for creating jobs as Boeing is? Hmmm??

They're going to do what they can to keep making money and taking advantage of opportunities, but where they're welcome, not where they're threatened by the heavy hand of this administration. That means no jobs for us.

[excon]

I mean what don't you get? Tal and a gazillion other liberals keep whining about corporations sending jobs overseas.

They're going to do what they can to keep making money and taking advantage of opportunities, but where they're welcome, not where they're threatened by the heavy hand of this administration. That means no jobs for us.

Hello again, Steve:

You're right in the macro - wrong in the micro (or vice versa? ) I don't whine about corporations. They do what they do, and owe NO allegiance to the US. I don't have a problem with that. I AM that.

Where you're wrong is, it's NOT Obama or his policies. It's the free trade policies started under Reagan and exacerbated by Clinton. THAT'S where the problem is. But, THAT'S cool, too, because we have the ability to SHIFT our economy to stay ahead of the world. At least, we USED to.

When the Japanese successfully attacked our car industry, we developed the computer industry. When China and Mexico and the rest of the world HAS, what USED to be our manufacturing industry, we need to SHIFT again. That only happens WITH government support. The computer industry got is seed FROM government. Our NEXT industry will too, if you right wingers would get out of the way.

This is NOT a time to cut education. This is NOT a time to let our bridges fail. This is NOT a time to CUT subsidy's to companies that CAN foment the next industrial revolution. The Wright Brothers days are long past.

excon

[speechlesstx]

That's all great, ex, but the only "industrial revolution" that this administration is friendly to is a "green" revolution and that's a farce. Otherwise he's created a HOSTILE business environment and he will continue to FAIL at contributing to a growth environment as long as he does so.

[Wondergirl]

That's all great, ex, but the only "industrial revolution" that this administration is friendly to is a "green" revolution and that's a farce. Otherwise he's created a HOSTILE business environment and he will continue to FAIL at contributing to a growth environment as long as he does so.

I'm sure the tax credits the federal government will give to businesses that hire unemployed vets won't help the economy.