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

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If President Obama was really serious about kick starting our economy, he would drastically cut spending, cut ordinary income taxes to single digit levels, enact sweeping deregulation starting with the EPA, the Department of Energy, and the Department of Education. He’d loosen the noose of Sarbanes-Oxley, enforce the Dodd-Frank Act as well as he does the the Defense of Marriage Act, lower the corporate tax rate, renegotiate NAFTA, tariff the hell out of China and create the kind of entrepreneurial environment we had during the industrial revolution.

We don’t have a revenue problem, we have a “regulatory” problem—spending and taxing notwithstanding.


http://forum.literotica.com/showpost.php?p=38788594&postcount=24
 
Stocks waver on economic data

Updated: 10/03/2011 12:38 ET
DOW 10,826.12 -87.26
NASDAQ 2,388.02 -27.38
S&P 1,119.61 -11.81
 
Stocks tumble on global jitters

Updated: 10/03/2011 01:29 ET
DOW 10,741.47 -171.91
NASDAQ 2,364.19 -51.21
S&P 1,110.69 -20.73


stay tuned for further updates.
 
Updated: 10/03/2011 02:32 ET
DOW 10,713.43 -199.95
NASDAQ 2,354.47 -60.93
S&P 1,107.80 -23.62
 
vetteman said:
Tells you a lot about the government's inability to create demand by fiat, or to pick economic winners or losers.



Is the Chevy Volt a sales flop?

General Motors has repeatedly claimed a sales target for 2011 of 10,000 units for the plug-in hybrid Chevy Volt sedan. But, nine months into the year, they've only shipped 3,895 off the lot. In fact, in September sales numbers, released an hour ago, GM sold only 723 Volts. Will GM fail to meet its own sales predictions?

To be fair, GM has claimed that sales would falter during the summer because of a pre-planned shutdown of the automaker's Hamtramck assembly plant. But, it was thought by most analysts that GM would have already swallowed that hiccup and by September we'd see higher sales. Despite more than doubling last months sales, we somehow don't think 723 units sold this past month is what one would consider massive sales momentum — especially given this summer's anemic numbers. And that's not to say there aren't any Volts on dealer lots. Cars.com shows over 2,600 units available in a nation-wide search of new vehicle listings.

To give you an idea of how few vehicles that is, here are just a few of the GM vehicles that sold better than the Chevy Volt this month:

Cadillac Escalade - 1,527
Chevrolet Colorado Pickup - 2,171
Chevrolet Avalanche - 1,861
Chevrolet Suburban - 5,246
Buick Lucerne - 1,068

That last car, the Buick Lucerne, is even more ironic considering it's made on the very same assembly line as the Chevy Volt — yet the Buick-for-blue-hairs still managed to sell almost 50% more units this past month.

Compare those sales with the vehicle most pundits position as a direct competitor — the Nissan Leaf all-electric car. Nissan sold 1,362 Leafs during the month of August and 1,031 during the month of September. Year to date, they've sold 7,199 — twice the number of Volts GM has shipped off dealer lots.

GM has a steep hill to climb if they plan on making their claim of 10,000 units sold. By our count it means they'll have to sell over 2,000 Volts during each of the remaining three months of 2011. We'll see if they can make it — or if the Volt ends up being a flop for GM in its first year of sales.

So what does all this hand-wringing mean? Who knows. It could mean there's very little desire for such weird, new technology. Or it could just mean GM's still working the kinks out of the supply chain. All we know is — sometimes it's best not to put hard targets to leap over unless you're sure you can clear 'em. Because tripping and falling always hurts.

http://jalopnik.com/5846097/is-the-chevy-volt-a-sales-flop
Click to expand...

I blame the Korean batteries they use.:D:D
 
Falling U.S. Wages Threaten Consumer Spending


Ninety-one percent of people in the U.S. labor force have a job. That may be the extent of the good news for these Americans, whose incomes tell a darker story.

Take-home pay, adjusted for prices, fell 0.3 percent in August, the third decrease in five months, and personal income dropped for the first time in two years, the Commerce Department reported last week. The declines followed news from the Census Bureau that median household income in 2010 fell to $49,445, the lowest in more than a decade, and the poverty rate jumped to 15.1 percent, a 17-year high.

http://money.msn.com/business-news/article.aspx?feed=BLOOM&date=20111003&id=14336383&GT1=33009
 
Stocks begin fourth quarter with a thud

The Dow is off by triple digits; fears build that Greece will default.
 
vetteman said:
S&P just fell below the so called "all important" 1100 floor.
Click to expand...

It was 12000, they lowered it, maybe 10000 will become important.

Updated: 10/03/2011 04:00 ET
DOW 10,663.78 -249.60
NASDAQ 2,337.05 -78.35
S&P 1,100.15 -31.27
 
vetteman said:
Tells you a lot about the government's inability to create demand by fiat, or to pick economic winners or losers.
Click to expand...

How many cars would Chevy have sold had they gone under? How come you're generalizing the sales of one car that was never imagined to be sold in significant numbers to the entire GM operation?
 
mercury14 said:
How many cars would Chevy have sold had they gone under? How come you're generalizing the sales of one car that was never imagined to be sold in significant numbers to the entire GM operation?
Click to expand...

There was never a risk of Chevy going out of business.
 
mercury14 said:
How many cars would Chevy have sold had they gone under? How come you're generalizing the sales of one car that was never imagined to be sold in significant numbers to the entire GM operation?
Click to expand...

mercury14 said:
Why do you sit around on a porn site cheering for the markets to fall? What kind of weirdo are you?
Click to expand...

Two fucking stupid posts, MORON.

JohnnySavage said:
There was never a risk of Chevy going out of business.
Click to expand...

Exactly, they sell enough in China they could care less what happens here. But they really needed that bailout.
 
4est_4est_Gump said:
I think the name-calling reflects your frustration at having not been right in one little bit to support the policies of this administration that you want to claim "saved" us from a Depression, which, if you look around at our situation, is still not even remotely looking true
Click to expand...


We never went into a depression. Kind of makes your entire post moot.
 
mercury14 said:
The CEO and CFO of GM said they would not emerge from bankruptcy if there was no large investor (which there was not). You just choose not to believe them.
Click to expand...

True, I choose not to believe them. Bankruptcy happens every day all across the country. GM would have reorganized and renegotiated its contracts.

Even if GM was liquidated (never would have happened) - so what? The demand for their product wouldn't have gone away and other manufacturers would have picked it up.
 
JohnnySavage said:
True, I choose not to believe them. Bankruptcy happens every day all across the country. GM would have reorganized and renegotiated its contracts.

Even if GM was liquidated (never would have happened) - so what? The demand for their product wouldn't have gone away and other manufacturers would have picked it up.
Click to expand...


Do you think it was good that the bailout kept GM from bankruptcy? How would you rate your knowledge on the subject?
 
mercury14 said:
Do you think it was good that the bailout kept GM from bankruptcy? How would you rate your knowledge on the subject?
Click to expand...

No - the law's the law and GM should have gone through the B/R court just like any other company. The government has no right to step in and pick who it will save and who it will let fail (Lehman Bros).

About average I suppose.
 
JohnnySavage said:
No - the law's the law and GM should have gone through the B/R court just like any other company. The government has no right to step in and pick who it will save and who it will let fail (Lehman Bros).

About average I suppose.
Click to expand...

Okay well it's probably below average :)

GM still went through chapter 11 bankruptcy and restructured. The right wing media doesn't mention this though. But look it up online, wikipedia or whatever you prefer.

GM had experienced a 45% drop in sales in 2008 and they lost a staggering $39 billion dollars in just one year. Here's another fact that the Right wing media doesn't tell you - the Bush administration had been providing low-interest bridge loans to GM for a while. And Bush + broad Republican support included GM in TARP. You know, using government to pick winners and losers? :rolleyes:

Once Obama was elected, GM came to him for more bridge loans. Obama said that these continuous loans were just empowering GM to lose more money though and avoid making some difficult decisions. Another fact the right wing media won't tell you: Obama told GM that they should stop kicking the can down the road and go into chapter 11. He also said it was the best way to get the ball rolling to force unions to resettle their agreements.

GM lacked investment capital to emerge from bankruptcy, not to mention there was no demand for their products. They tried and failed to partner with Nissan and tried selling assets overseas but it was a drop in the bucket. In the absence of investors, the US government stepped in and invested.

This investment allowed GM to more restructure effectively and to begin vigorously returning to business. It also meant that GM didn't have to close/sell a ton of factories and scale back their operation so much that legions of contractors and parts/materials/service companies had to fold. They're now a profitable company. More profitable than any time since the Clinton-era economic boom.

Obama's plan worked. GM didn't just become profitable, they became profitable in the context of a bad economy with a depressed auto industry. The right wing media will carry on about how when the US sold most of its GM stock, they lost $9 billion in the process. But when you consider the would-be lost tax revenue from the auto industry withering, spike in unemployment, spike in welfare and social spending, and the extreme economic damage to certain regions of the country had there been no action, the cost would have been far more than $9 billion.
 
Greece default fears slam stocks

Updated: 10/03/2011 05:18 ET
DOW 10,655.30 -258.08
NASDAQ 2,335.83 -79.57
S&P 1,099.23 -32.19


GM stock after an IPO price of $35, now resides at $19.73.
 
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