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What happened to all of the doom and gloom economic threads?

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mercury14 said:
In 2011 with a recession-plagued economy Wal-Mart mad a billion dollars in net profit every 20 days. And that figure appears to have increased by double-digits in 2012. Please describe to me how they would go out of business if they paid their employees a little more money (which many of them would just spend at Wal-Mart).

If 2 million wal-mart employees making $9 per hour got a 20% raise, the cost of which we'll just subtract from net profit for simplicity's sake, that would lower their net annual profit by $5.6 billion to a total of a $10 billion per year.

Do companies that make ten billion dollars annually typically go out of business?
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O no how dare them make a profit
How dare stockholders want a return on there investments
No one makes anyone work there there employed at will.
Before anyone goes and works there Walmart says to the person we pay you x for doing x

No companies that make money don't have a idiot like you running it.
 
bra_man69 said:
O no how dare them make a profit
How dare stockholders want a return on there investments
No one makes anyone work there there employed at will.
Before anyone goes and works there Walmart says to the person we pay you x for doing x

No companies that make money don't have a idiot like you running it.
Click to expand...

So you are saying all companies that make money have idiots like merc running them? :confused:
 
bra_man69 said:
O no how dare them make a profit
How dare stockholders want a return on there investments
No one makes anyone work there there employed at will.
Before anyone goes and works there Walmart says to the person we pay you x for doing x

No companies that make money don't have a idiot like you running it.
Click to expand...


STEEERIKE THREE! YER OUT! Or did you want to make it four thought ascriptions to me in one day?

You said Walmart would go out of business if it paid its employees significantly more and it turns out that you were wholly mistaken. Nobody ever said anything about profitability being bad... Or whatever it is you're moaning about.
 
Somebody catch Vette, he's gonna have a stroke!




California Governor's budget has surprise: a surplus
By Jim Christie | Reuters – Thu, Jan 10, 2013


California Governor Jerry Brown speaks at a news conference in Los Angeles, California in this file photo taken August 28, 2012. California's economy is on the mend, but Governor Brown is expected to take a cautious approach to spending when he unveils his state budget plan on Thursday.

SACRAMENTO, California (Reuters) - California's budget deficit is gone after years of financial troubles, Governor Jerry Brown said on Thursday, proposing a state budget plan that would raise spending on education and healthcare, boosting total expenditures by 5 percent with a surplus remaining.

But Brown vowed to push back at legislators eager to increase spending even more by restoring the billions of dollars to social services and other state programs cut in lean years.

"I am determined to avoid the fiscal mess that the last few governors had to deal with," Brown told reporters as he introduced his budget plan for the 2013-14 fiscal year beginning in July. Leading Democratic legislators agree with his plan.

California's economy melted down with the housing market, slashing the state's revenue, but it is finally on the mend. For years the state's leaders have tackled budget deficits with a combination of deep cuts and accounting gimmicks. The projected surplus is now the latest surprise.

Businesses are hiring again and voters in November approved temporary hikes to the state sales tax and income tax rates on wealthy taxpayers.

California's job growth tops the national average[/B], unemployment has fallen to below double-digit levels for the first time in nearly four years and more money is expected to flow into state coffers from the voter-approved tax increases.

The state Department of Finance projected unemployment will fall to 9.6 percent this year and 8.7 percent in 2014.

Brown's budget plan projects $98.5 billion in revenues and transfers and plans spending of $97.7 billion, according to the proposal published on the state Department of Finance website.

That would leave a surplus of $851 million, in addition to a projected $785 million surplus for the current fiscal year, which ends in June, allowing the state to put $1 billion toward a rainy day fund. As recently as November, the state budget watchdog, the Legislative Analyst's Office, projected a $1.9 billion gap.

Brown also sees balanced budgets for the next four years.

Spending in the upcoming year is set to rise $4.7 billion from the current 2012-13 budget. Schools and universities will get a $4 billion boost, health spending will rise $1.2 billion, while transfers to local governments will drop $2.1 billion.

The 74-year-old governor said he aimed to focus education spending on the neediest students and districts, such as kids in poor areas like Compton, California.

But Brown, a Democrat with a national reputation as a liberal, plays up his penny pinching in California. He has repeatedly stressed the need for spending restraint.

The finance department estimates there is still a $28 billion "Wall of Debt" built up over years of internal borrowing, as well as more than $100 billion in unfunded liabilities in state-backed retirement health and pension systems.

In the municipal bond market, where the yield spread between California bonds and triple-A debt shrank in 2012, prices did not move.

Standard & Poor's Senior Director Gabriel Petek said Brown's budget proposal is encouraging and could help California's credit quality strengthen.

Standard & Poor's in November said California, its lowest-rated state at A-minus, may be in line for an upgrade it if maintains fiscal discipline.

Petek is heartened by Brown's caution, as the governor said the state's finances face risks stemming from talks in Washington over the federal budget, potential lawsuits, health-care cost increases and an uncertain economic recovery.

"A lot rides on the economy ... If the economy were to retrench, it puts them in a hard spot because a lot of the levers have already been pulled," Petek said, referring to spending cuts imposed in recent years.

Brown warned the state not to get exuberant over its improved finances. "It's very hard to say no. That's going to be my job," he said.

Some liberal lawmakers hope to restore cuts to health and welfare programs of the last few years after Democrats won a supermajority in the legislature in November's vote, giving them the power to raise taxes without Republican support.

State Senate budget committee head Mark Leno, a Democrat, said he expects a smooth budget process despite the call for restraint, embracing the idea that the state's finances should "hold steady."

But Leno wants to let local governments raise spending and has proposed a state ballot initiative that would be put before voters by lawmakers to make it easier to raise property taxes to fund schools.

Democrats and their allies who eager for more spending are calling for closing "loopholes" more than suggesting outright tax hikes. California Labor Federation chief Art Pulaski echoed Brown's caution and called for a review of tax breaks.

Republican State Assembly Leader Connie Conway backed Brown's messages of fiscal restraint and support for education.

Brown will present a revised budget plan in May after his finance department has a better outlook on the state's revenue trend. That plan will set the stage for final budget talks.

Leno said he expects a budget agreement with Brown before the start of the new fiscal year in July.
Click to expand...
 
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mercury14 said:
Somebody catch Vette, he's gonna have a stroke!
Click to expand...

Thank Mitt Romney. He and Paul Ryan reminded Hispanics that Republicans will never EVER treat them as equals in America, and they turned out in droves to give California the "super majority" needed to raise taxes to balance the state budget.

The lower middle class white obstructionists can no longer use the "tyranny of the minority" model to disrupt state operations.

It's morning again in California!!
 
mercury14 said:
STEEERIKE THREE! YER OUT! Or did you want to make it four thought ascriptions to me in one day?

You said Walmart would go out of business if it paid its employees significantly more and it turns out that you were wholly mistaken. Nobody ever said anything about profitability being bad... Or whatever it is you're moaning about.
Click to expand...
:rolleyes:
course you don't understand profitability.
It's you crying say they don't pay people I'm saying they pay what the market is willing to pay them.

Yes Walmart could right now pay everyone works for them 40 dollars hour but there unable to over time without a major price hike when they do that people shop other places it's simple economics that you fail to understand.
 
bra_man69 said:
:rolleyes:
course you don't understand profitability.
It's you crying say they don't pay people I'm saying they pay what the market is willing to pay them.
Click to expand...

I agree, they should pay the market rate. And this is how capitalism fosters poverty. The free market is loaded with jobs that keep people poor and offer very little opportunity. A subset of individuals can move up the ladder but the group as a whole cannot.

Now add in the fact that wages aren't keeping pace with inflation and not only are people with 40+ hours jobs staying poor, they're actually getting poorer. The money that used to go to wages now goes to corporate profits and the individuals at the very top of the pyramid. That's the "benefit" of institutionalized serfdom in America. Do you think it's worth it?


bra_man69 said:
Yes Walmart could right now pay everyone works for them 40 dollars hour but there unable to over time without a major price hike when they do that people shop other places it's simple economics that you fail to understand.
Click to expand...

By my crude calculation if Walmart increased their average $9 worker wage to around $15.75/hr they would break even. $40 per hour would mean they'd be in the red pretty bad. I'm not saying they should pay $40 per hour or $15.75.
 
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RobDownSouth said:
Thank Mitt Romney. He and Paul Ryan reminded Hispanics that Republicans will never EVER treat them as equals in America, and they turned out in droves to give California the "super majority" needed to raise taxes to balance the state budget.

The lower middle class white obstructionists can no longer use the "tyranny of the minority" model to disrupt state operations.

It's morning again in California!!
Click to expand...

It was a combination of tax hikes and spending cuts, both of which were aggressively pursued. I'm a bit surprised that Cali made it to a surplus this soon though. Vette must have been hearing about this story for the past 48 hours. Wonder why he didn't post it? :rolleyes:

Stroke?
 
mercury14 said:
I agree, they should pay the market rate. And this is how capitalism fosters poverty. The free market is loaded with jobs that keep people poor and offer very little opportunity. A subset of individuals can move up the ladder but the group as a whole cannot.

Now add in the fact that wages aren't keeping pace with inflation and not only are people with 40+ hours jobs staying poor, they're actually getting poorer. The money that used to go to wages now goes to corporate profits and the individuals at the very top of the pyramid. That's the "benefit" of institutionalized serfdom in America. Do you think it's worth it?




By my crude calculation if Walmart increased their average $9 worker wage to around $15.75/hr they would break even. $40 per hour would mean they'd be in the red pretty bad. I'm not saying they should pay $40 per hour or $15.75.
Click to expand...

Get the government out of the market they should make the rules then that's it.
Anyone can move from being poor to rich is it easy no and right now government making it a lot harder then needs to be.
There's not inflation right now only in commodities again stop with the government giving out free money to speculators (banks) playing commodities stop putting are food in gas tanks.
The economy will not rebound until we hit bottom and we haven't hit bottom 5 years and counting with trillions of dollars more debt.

guess what we're about to repeat it when interest rates rise people with amr's won't be able to afford there houses so basically we wasted 5 years and a lot of money of course no one talking about it we are fucked.
The elected people on both sides have failed.

How you know they're gonna break even do you know their profit margin:confused:
 
bra_man69 said:
Get the government out of the market they should make the rules then that's it.
Click to expand...

If the government is making the rules then they're in the market by definition. Not sure what you're trying to get at here.


bra_man69 said:
Anyone can move from being poor to rich is it easy
Click to expand...

Comments like this are how I know you're not very smart.

bra_man69 said:
There's not inflation right now only in commodities again stop with the government giving out free money to speculators (banks) playing commodities stop putting are food in gas tanks.
Click to expand...

There's inflation right now (see inflation rate), it's just on the low side. And despite being low it's still higher than wage growth (see bls.gov). What do you think will happen to the masses of stagnant wage workers when inflation rises another point or so?


bra_man69 said:
The economy will not rebound until we hit bottom and we haven't hit bottom 5 years and counting with trillions of dollars more debt.
Click to expand...

We've passed the bottom by measures of GDP, jobs, the housing market, the stock market, the deficit, and manufacturing. Which metrics are you looking at that show we haven't hit bottom yet? I just named the six most commonly used metrics but I'd love to see what you're looking at that trumps these things. :rolleyes:

bra_man69 said:
guess what we're about to repeat it when interest rates rise people with amr's won't be able to afford there houses so basically we wasted 5 years and a lot of money of course no one talking about it we are fucked.
The elected people on both sides have failed.
Click to expand...

We're miles away from interest rates being an obstacle to home buying bro.

bra_man69 said:
How you know they're gonna break even do you know their profit margin:confused:
Click to expand...

Yeah it's right here.
 
mercury14 said:
It was a combination of tax hikes and spending cuts, both of which were aggressively pursued. I'm a bit surprised that Cali made it to a surplus this soon though. Vette must have been hearing about this story for the past 48 hours. Wonder why he didn't post it? :rolleyes:

Stroke?
Click to expand...

He's been tirelessly working Google for a counter-narrative. He'll find some small, inconsequential anomaly in the budgeting and wail loud and long about it's "failure".

That's what Vietnam-era Marines typically do when confronted with unpleasant realities.
 
RobDownSouth said:
He's been tirelessly working Google for a counter-narrative. He'll find some small, inconsequential anomaly in the budgeting and wail loud and long about it's "failure".

That's what Vietnam-era Marines typically do when confronted with unpleasant realities.
Click to expand...

Governor Brown took California's budget from a $27 billion deficit to a $1 billion surplus in 2.5 years. If Saint Ronnie or even Arnold were in office when such a thing occurred it would be extolled as a Great Triumph of Conservative Leadership. Brown is a Democrat though so it's immoral and anti-American. Possibly steeped in Sharia Law as well.
 
mercury14 said:
If the government is making the rules then they're in the market by definition. Not sure what you're trying to get at here.




Comments like this are how I know you're not very smart.



There's inflation right now (see inflation rate), it's just on the low side. And despite being low it's still higher than wage growth (see bls.gov). What do you think will happen to the masses of stagnant wage workers when inflation rises another point or so?




We've passed the bottom by measures of GDP, jobs, the housing market, the stock market, the deficit, and manufacturing. Which metrics are you looking at that show we haven't hit bottom yet? I just named the six most commonly used metrics but I'd love to see what you're looking at that trumps these things. :rolleyes:



We're miles away from interest rates being an obstacle to home buying bro.



Yeah it's right here.
Click to expand...

Like how you edit my post to make it say what you want

No we haven't even come close to bottom.
GDP remove what government been spending there would be no growth (Keynesian economics)
there's no demand for anything.
Jobs haha you're fucking idiot keep drinking kool aid
You're saying job growth but more people then ever on food stamps :cool:
Housing they lowered the standard like I said it's like what happened 5 years ago never did happen.
Stock market free money from the fed end tarp qe1 qe2 qe3 qe4 and the rest watch that bitch fall like a rock.

Miles away you dumb fuck you'll see it this summer if not sooner we can't keep interest rate low and expect people to buy treasury bonds.
 
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vetteman said:
Yawn.

Brown's budget requires Democrat fiscal discipline. It goes to the legislature where it will be revised as usual. They will have to return a budget to the Governor by June 15. So before we start ejaculating about a surplus, let's see if such discipline exists in those Democrat super majorities. It's all on them. Meanwhile the exodus from California continues.
Click to expand...

we in Texas say thanks to y'all;)
 
vetteman said:
Texas and AZ are the most popular destination for Californians fleeing Democrat tyranny.
Click to expand...

1) Cite, please?

2) Then why -- going by all the Minutemen/Tea Party rhetoric -- are Texas and AZ also the most popular destinations for Mexican illegals?
 
bra_man69 said:
Like how you edit my post to make it say what you want
Click to expand...

I didn't edit your post.

bra_man69 said:
No we haven't even come close to bottom.
GDP remove what government been spending there would be no growth (Keynesian economics)
Click to expand...

[citation needed]

Government spending has always been included in GDP and for good reason. When the government buys buildings or aircraft it's all a private sector product. Tell me why you think it shouldn't be included under Obama.

bra_man69 said:
there's no demand for anything.
Jobs haha you're fucking idiot keep drinking kool aid You're saying job growth but more people then ever on food stamps :cool:
Click to expand...

I gave you the six biggest economic indicators used by economists and pretty much everyone and you give me food stamps? I win.

bra_man69 said:
Housing they lowered the standard like I said it's like what happened 5 years ago never did happen.
Click to expand...

[citation needed]

bra_man69 said:
Miles away you dumb fuck you'll see it this summer if not sooner we can't keep interest rate low and expect people to buy treasury bonds.
Click to expand...

People are still gobbling up US Treasury bonds. The RWCJ here has been predicting an economic double dip recession since 2009. It's always been "just you wait 'till next summer!". Tell me why you're right this time.
 
BUSYBODY-II said:
hey yo, CURRY

you couldn't possibly believe what you posted consituted as GOOD NEWS going forward

its as if it says

we are going to HELL in 7 seconds and maybe not 6:rolleyes:
Click to expand...

So we should talk about one state's economy instead of the national one?
 
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