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

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mercury14 said:
Well first of all let me congratulate you on fully avoiding my point about your stupid double standard. Your hypocrisy knows no bounds. It seems that yes, it really is okay with you when Republicans mention external factors hurting the economy. But when a Democrat does it it's "just blaming".

This is why you come off so stupid and partisan.

And yes, the tsumani and the European debt crisis have been major drags on the economy. But you'll have to take that up with Wall Street and virtually every economist out there. Don't take Obama's word for it. He didn't do the analysis himself. Go attack Wall Street for not knowing how the economy works.

Have fun.
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9/11

Katrina:cool:
 
mercury14 said:
And nowhere can you quote Obama saying that the economy is bad BECAUSE of the quake. The quake, the debt crisis in Europe, and other things are factors that hamper the recovery. Wall Street has always acknowledged this.

But if Obama echoes Wall Street's own assessment of the economy, well that's somehow intolerable.
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Like ATM's:rolleyes:
 
Obama inherited an economy after Bush, and FUCKED IT UP

Perry inherited an economy after Bush and LET IT RUN!!!!!!!!!!:cool:
 
Solyndra, a manufacturer of solar panels, is bankrupt, which is inconvenient for the Obama administration, which extended half a billion dollars’ worth of loan guarantees to the firm as part of the president’s stimulus effort. The inconvenience extends to the 1,100 Solyndra employees who have just lost their jobs and to the U.S. taxpayers who may be on the hook for the bankrupt firm’s loans. The project was indeed “shovel ready,” as the president likes to put it; unhappily, in this case, the shovel belongs to the gravedigger. Perhaps the gravestone could read: “Another project funded by the American Recovery and Reinvestment Act.”

Solyndra was an irrestibly juicy piece of bait for stimulus-happy progressives. President Obama, like all Democrats, labors under a special challenge when it comes to economic affairs: His economically illiterate base spends its time decrying “corporations,” but urban-gardening cooperatives don’t create a lot of jobs, and community-based nonprofits by definition don’t create any profit, and therefore no investment capital, and therefore no economic growth. You want to see some real, sustainable, long-term jobs created, your best bet is to look to a “corporation”—“corporation” simply being the word for a business that has grown large enough or profitable enough to require the legal organization of its affairs. But if you’re Barack Obama, not just any corporation will do: It has to be just the right sort of corporation.

And boy, was Solyndra just right: It made solar panels, a product so green that Democrats could almost forget that this was a profit-oriented corporation, backed by venture capitalists, oil money, and private-equity funds, and led by a former Intel executive. The firm was in Nancy Pelosi’s back yard, and it was looking to expand, with plans to build a factory for the mass production of its photovoltaic cells. But the firm was not thriving, and those venture capitalists were not eager to put their own money on the line for that new facility. So they put your money on the line, instead.

The Government Accountability Office would later single out the Solyndra deal as an example of the government’s failing to fully vet such arrangements before approving the loan guarantees. With all those stimulus dollars burning a hole in its pocket, the Obama administration was overeager to get them spent. “If you don’t have really strong processes in place, and if you’re under pressure to get a lot of these dollars allocated, you can make unproductive decisions and ones that ultimately put taxpayers’ dollars at risk,” GAO analyst Franklin Rusco said. In fact, the administration announced its commitment to the loan guarantees before the required outside reviews were even in hand.

And as those who have followed the machinations of T. Boone Pickens know, when there’s a green-energy plan looking for a federal backstop, there’s an Oklahoma oil man behind the curtain. In the case of Solyndra it was billionaire George Kaiser, a Democratic donation bundler and a major financial supporter of Barack Obama’s 2008 campaign. Mr. Kaiser was heavily invested in the firm. Other Democratic bundlers received similarly generous treatment under the guise of green jobs, stimulus, and other expressions of President Obama’s magical thinking. It’s easy to spend several hundred billion dollars of somebody else’s money in a hurry; it’s hard to spend it well or wisely.

So, the indictment reads: wasteful, inefficient, non-transparent, irregular, unseemly, and, finally, bankrupt. The thousands of jobs the Solyndra project was supposed to create have not appeared, and more than a thousand jobs have just disappeared. The president is planning a big speech about jobs, and perhaps he’s had enough law-school Latin to know what mea culpa means.
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Editors, NRO

How many times have I said, Government does not make efficient decisions, they make political decisions...
__________________
"The more communal enterprise extends, the more attention is drawn to the bad business results of nationalized and municipalized undertakings. It is impossible to miss the cause of the difficulty: a child could see where something was lacking. So that it cannot be said that this problem has not been tackled. But the way in which it has been tackled has been deplorably inadequate. Its organic connection with the essential nature of socialist enterprise has been regarded as merely a question of better selection of persons. It has not been realized that even exceptionally gifted men of high character cannot solve the problems created by socialist control of industry."
Ludwig Heinrich Elder von Mises

You loot the private sector, strip every dollar of 40¢ for overhead, and then give the other 60¢ to your political base in order to revitalize the looted.

What's not to like about that plan?
A_J, the Stupid
 
Mo money G!!!

koalabear said:
This time it will be different!:eek:
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In his speech at Jackson Hole, Wyoming, on August 26, 2011, the Fed chairman disappointed most pundits. He did not promise another massive infusion of fake money, i.e., QE3. I suspect that a strengthening in bank lending is an important factor behind the Fed's decision to postpone the pushing of more money into the economy.

The yearly rate of growth of our measure for banks' inflationary credit jumped to 8.2 percent so far in August from 4.3 percent in July. A visible strengthening in commercial bank inflationary credit, i.e., credit "out of thin air," will provide the "necessary" monetary stimulus. This means that the massive amount of money pumped by the Fed since 2008 (over $2 trillion) is starting to be funneled into to the economy by the banks.
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graph: http://mises.org/daily/5597/The-Monetary-Tsunami-Is-Coming

This has long been the hope of the Fed, and the goal of the huge increases in bank reserves that have been created during the downturn. Until recently, these reserves have been stuck in the system — unable to find lenders and borrowers willing to make a deal. This has been a good thing because prices have been held somewhat in check.

That is now changing. As the pace of lending picks up, and the fractional-reserve system of loan pyramids kicks in, we could see new floods of money pouring through our economic life and causing untold damage.

For the time being, the pace of pumping by the Fed remains buoyant. The yearly rate of growth of the central bank's balance sheet stood at 23.6 percent so far in August against 23.1 percent in July. The growth momentum of our monetary measure for the United States (AMS) jumped to 13.1 percent this month from 11.8 percent in July.
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graph: http://mises.org/daily/5597/The-Monetary-Tsunami-Is-Coming

Now, according to most experts, massive monetary pumping is going to ignite inflationary expectations, which in turn will give the necessary push to consumer outlays.

Once consumers start spending more, via the famous Keynesian multiplier, this will reinvigorate general economic activity and will put the economy onto a path of self-sustaining economic growth. The key in this way of thinking is that currently there is a problem with consumer outlays that, for various reasons, are not strong enough to revive the economy.

For instance, rising unemployment causes people to be cautious in their spending, which, according to popular thinking, is bad news. Hence policies aimed at lifting employment must be introduced in order to get the economy going. Digging ditches or introducing various public projects, such as building roads, is strongly recommended.

According to this way of thinking, if the private sector is reluctant to boost spending then it is the duty of the government and the central bank to do so in order to bring the economy onto a self-sustaining economic-growth path.

This means that government and central-bank policies must err on the loose side, implying that the Fed should aggressively push money, which together with very low interest rates and loose fiscal policies, is expected to revive consumer confidence and push economic activity forward.

This is a good summary of the views of Bernanke, who believes that the key cause behind the Great Depression of the 1930s was inadequate pumping by the then-Fed. This time around Bernanke is determined not to repeat the same error.

Note again that, according to popular thinking, boosting the overall demand for goods and services is the key for the strengthening of US economic growth.

It's true that a strengthening in the demand for goods and services is required for an economic revival. However, any increase in demand must be fully backed up by an increase in the prior production of final goods and services. This increase in demand must be supported by the prior increase in saving and not by loose fiscal and monetary policies.

Neither monetary pumping nor any form of stimulatory policy can generate more real funding; rather they lead to the diversion of funding from wealth-generating activities to non-wealth-generating activities. These types of policies reduce the amount of available real funding to wealth generators and thus undermine the process of real wealth generation — economic growth comes under pressure on account of these policies. (It leads to capital consumption. Instead of planting the seeds in order to reap a crop in the future these policies cause people to consume the seeds. Obviously one shouldn't be surprised that no future crop could emerge as a result. Yet policy makers are trying to convince us that one can eat the seeds and also have a crop.)

Contrary to most experts — including Bernanke — the more aggressive the Fed's policies are, the worse the economy is going to be. If all that is required to revive the economy is pushing more money, then all third-world economies would be very wealthy by now.

The latest trends in banking foretell the possibility of very dangerous times ahead where developed economies go the way of such undeveloped economies and destroy wealth through inflation in the name of stimulating production. As we may soon discover yet again, printing money is no substitute for real wealth creation.
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Stocks waver after tepid jobs report
Unemployment claims fall less than forecast. Continued weakness is expected in manufacturing and construction. Oil and gold prices decline.

They must not have read Oblamers jobs plan.
 
koalabear said:
Stocks waver after tepid jobs report
Unemployment claims fall less than forecast. Continued weakness is expected in manufacturing and construction. Oil and gold prices decline.

They must not have read Oblamers jobs plan.
Click to expand...

14 months to go, and now he provides a job's plan? Will America buy into his rhetoric , again, come 2012?
 
RobDownSouth said:
Got a viable alternative to offer?
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Michelle Bach...

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Tepid economy weighs on stocks


Updated: 09/01/2011 02:21 ET
DOW 11,528.24 -85.29
 
Stocks slip on economic woes

Updated: 09/01/2011 04:09 ET
DOW 11,493.57 -119.96
 
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