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

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You should not say that around tax time as we're hearing about how the rich, white Democrats are going to save the middle class while they talk at the same time about "shared sacrifice" and fight against tax cuts in our name...
 
vetteman said:
Maybe we can ask them to cancel our debt if we give them Taiwan.:eek:
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To make matters WORSE! guess who works for the government in an essential job?

The aforementioned die-hard COMMUNIST!

She'll keep earning tax-dollars when the fleebaggers go on strike this weekend!
 
She says they have no young people there. It's a bunch of 70-80 year old "workers" who refuse to retire, they just come there and sleep all night...
 
http://online.wsj.com/article/SB10001424052748704050204576219073867182108.html


We've Become a Nation of Takers, Not Makers
More Americans work for the government than in manufacturing, farming, fishing, forestry, mining and utilities combined.

By Stephen Moore

If you want to understand better why so many states—from New York to Wisconsin to California—are teetering on the brink of bankruptcy, consider this depressing statistic: Today in America there are nearly twice as many people working for the government (22.5 million) than in all of manufacturing (11.5 million). This is an almost exact reversal of the situation in 1960, when there were 15 million workers in manufacturing and 8.7 million collecting a paycheck from the government.

It gets worse. More Americans work for the government than work in construction, farming, fishing, forestry, manufacturing, mining and utilities combined. We have moved decisively from a nation of makers to a nation of takers. Nearly half of the $2.2 trillion cost of state and local governments is the $1 trillion-a-year tab for pay and benefits of state and local employees. Is it any wonder that so many states and cities cannot pay their bills?

Every state in America today except for two—Indiana and Wisconsin—has more government workers on the payroll than people manufacturing industrial goods. Consider California, which has the highest budget deficit in the history of the states. The not-so Golden State now has an incredible 2.4 million government employees—twice as many as people at work in manufacturing. New Jersey has just under two-and-a-half as many government employees as manufacturers. Florida's ratio is more than 3 to 1. So is New York's.

Even Michigan, at one time the auto capital of the world, and Pennsylvania, once the steel capital, have more government bureaucrats than people making things. The leaders in government hiring are Wyoming and New Mexico, which have hired more than six government workers for every manufacturing worker.

Now it is certainly true that many states have not typically been home to traditional manufacturing operations. Iowa and Nebraska are farm states, for example. But in those states, there are at least five times more government workers than farmers. West Virginia is the mining capital of the world, yet it has at least three times more government workers than miners. New York is the financial capital of the world—at least for now. That sector employs roughly 670,000 New Yorkers. That's less than half of the state's 1.48 million government employees.

Don't expect a reversal of this trend anytime soon. Surveys of college graduates are finding that more and more of our top minds want to work for the government. Why? Because in recent years only government agencies have been hiring, and because the offer of near lifetime security is highly valued in these times of economic turbulence. When 23-year-olds aren't willing to take career risks, we have a real problem on our hands. Sadly, we could end up with a generation of Americans who want to work at the Department of Motor Vehicles.

The employment trends described here are explained in part by hugely beneficial productivity improvements in such traditional industries as farming, manufacturing, financial services and telecommunications. These produce far more output per worker than in the past. The typical farmer, for example, is today at least three times more productive than in 1950.

Where are the productivity gains in government? Consider a core function of state and local governments: schools. Over the period 1970-2005, school spending per pupil, adjusted for inflation, doubled, while standardized achievement test scores were flat. Over roughly that same time period, public-school employment doubled per student, according to a study by researchers at the University of Washington. That is what economists call negative productivity.

But education is an industry where we measure performance backwards: We gauge school performance not by outputs, but by inputs. If quality falls, we say we didn't pay teachers enough or we need smaller class sizes or newer schools. If education had undergone the same productivity revolution that manufacturing has, we would have half as many educators, smaller school budgets, and higher graduation rates and test scores.

The same is true of almost all other government services. Mass transit spends more and more every year and yet a much smaller share of Americans use trains and buses today than in past decades. One way that private companies spur productivity is by firing underperforming employees and rewarding excellence. In government employment, tenure for teachers and near lifetime employment for other civil servants shields workers from this basic system of reward and punishment. It is a system that breeds mediocrity, which is what we've gotten.

Most reasonable steps to restrain public-sector employment costs are smothered by the unions. Study after study has shown that states and cities could shave 20% to 40% off the cost of many services—fire fighting, public transportation, garbage collection, administrative functions, even prison operations—through competitive contracting to private providers. But unions have blocked many of those efforts. Public employees maintain that they are underpaid relative to equally qualified private-sector workers, yet they are deathly afraid of competitive bidding for government services.

President Obama says we have to retool our economy to "win the future." The only way to do that is to grow the economy that makes things, not the sector that takes things.
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JenAltArmy said:
this is the downfall of America. we must kick obama out, and terminate 1/3 of government employees

that would be a start.

also, if one is of an able body, they shall not receive welfare
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women need to stop working and taking jobs from men and get their asses back in the kitchen where they belong like back in the old days when it was perfect

that would be a better start

also, they need to give up the ass when a man wants it so he can be happy and do his work better. then there wouldn't be any conflicts and things would run better because men are being satisfied by their women and not being frustrated by time and money wasting stupid shit like womens equality and womens stuff. just shut the fuck up when we dont wanna talk to you, spread them legs when we want to fuck and get in that kitchen to fix our food when we're hungry. that's when america was great
 
http://noir.bloomberg.com/apps/news?pid=20601110&sid=aLgG6z14Ou4c



[ emphasis supplied ]

Bill Gross Says Treasuries Have Little Value, Echoing Buffett
By Wes Goodman

March 31 (Bloomberg) -- Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co., said Treasuries “have little value” because of the growing U.S. debt burden.

The U.S. has unrecorded debt of $75 trillion, or close to 500 percent of gross domestic product, counting what it owes on its bonds plus obligations for Social Security, Medicare and Medicaid, Gross said in his monthly investment outlook. The U.S. will experience inflation, currency devaluation and low-to- negative interest rates after accounting for consumer-price gains if it doesn’t reform its entitlement programs, he wrote.

Gross “has been selling Treasuries because they have little value within the context of a $75 trillion total debt burden,” he wrote in the report published on Newport Beach, California-based Pimco’s website. Congress "must make ‘debt’ a four-letter word."

The comment echoes Warren Buffett, the billionaire investor who recommended avoiding long-term fixed-income bets in U.S. dollars because its purchasing power will drop. Treasuries have handed investors a 0.1 percent loss this quarter, adding to a 2.7 percent decline in the final three months of 2010, based on Bank of America Merrill Lynch data.

President Barack Obama’s government has increased the U.S. publicly traded debt to a record $9.05 trillion, leading Gross to compare the nation to Greece, which had its credit ratings cut two steps by Standard and Poor’s on March 29.

“We are out-Greeking the Greeks,” he wrote.

Inflation Risk
Gross said in an interview March 11 that he eliminated government-related debt from his Total Return Fund because investors aren’t being adequately compensated for the risk of inflation.

Buffett has shortened the maturities of Omaha, Nebraska- based Berkshire Hathaway Inc.’s bond holdings as the Federal Reserve eased monetary policy to stimulate the economy, according to regulatory filings.

“I would recommend against buying long-term fixed-dollar investments,” Buffett, chairman and chief executive officer of Berkshire, said March 25 in New Delhi. “If you ask me if the U.S. dollar is going to hold its purchasing power fully at the level of 2011, 5 years, 10 years or 20 years from now, I would tell you it will not.”

The Fed said in November that it would pump $600 billion into the U.S. economy by purchasing Treasury securities to sustain the economic expansion...

more...

http://noir.bloomberg.com/apps/news?pid=20601110&sid=aLgG6z14Ou4c
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I'm sure that LT would make you dinner, he's a little bitch?

or what about moving to an islamic country?





IrezumiKiss said:
women need to stop working and taking jobs from men and get their asses back in the kitchen where they belong like back in the old days when it was perfect

that would be a better start

also, they need to give up the ass when a man wants it so he can be happy and do his work better. then there wouldn't be any conflicts and things would run better because men are being satisfied by their women and not being frustrated by time and money wasting stupid shit like womens equality and womens stuff. just shut the fuck up when we dont wanna talk to you, spread them legs when we want to fuck and get in that kitchen to fix our food when we're hungry. that's when america was great
Click to expand...
 
http://noir.bloomberg.com/apps/news?pid=20601110&sid=akELJHlJpdbA


U.S. Deficit to Rise to Largest Among Major Economies, IMF Says
By Sandrine Rastello

April 12 (Bloomberg) -- The U.S. is set to have the largest budget deficit of major developed economies this year and should narrow it now rather than face tough adjustments in the next two years, the International Monetary Fund said.

The U.S. shortfall will reach 10.8 percent of its gross domestic product this year, ahead of Japan and the U.K., the Washington-based IMF said in a report released today. It estimates that President Barack Obama will need to cut the deficit by 5 percentage points of GDP in the next two fiscal years, the largest adjustment in “at least half a century,” to meet his pledge of halving it by the end of his four-year term.

“Market concerns about sustainability remain subdued in the U.S., but a further delay of action could be fiscally costly, with deficit increases exacerbated by rising yields,” the IMF wrote in its Fiscal Monitor report, published several times a year to analyze public finance development.

The IMF recommended “a down payment” in the form of deficit reduction this year that would make the government goal “compatible with a less abrupt withdrawal of stimulus later.”

Obama is expected to announce long-term proposals for cutting the federal deficit tomorrow, following a budget deal he reached with congressional leaders last week that averted a government shutdown. In May, the government may be forced to increase the $14.3 trillion federal debt ceiling to ensure the U.S. will meet its financial obligations.

Economic Stimulus
The U.S. delayed its fiscal tightening with the adoption of a package extending tax cuts in December, the IMF said. It estimates that the stimulus measures, which also include emergency unemployment benefits, will have a small impact on growth relative to fiscal costs.

The IMF also called for a U.S. commitment to a medium-term debt target “as an anchor for fiscal policy.” China is the biggest foreign holder of U.S. Treasuries with a portfolio of $1.15 trillion in January, according to U.S. government data. Japan is the second-largest with $885.9 billion.

In Japan, where the government is planning additional spending for reconstruction after the March 11 earthquake and tsunami, the deficit is expected to reach 10 percent of GDP this year, the IMF said.

The country’s authorities will need to incorporate such costs into a medium-term fiscal adjustment plan “backed up by measures more clearly identified than in the past,” according to the IMF report.

‘Prudent’ Debt
A few days after Europe’s Greek-born debt crisis forced Portugal to seek financial aid from the European Union and the IMF, the fund said it is “essential” for all advanced economies to start bringing their debt to “prudent levels” in the medium term.

It forecast that the average gross domestic debt ratio in advanced economies will breach the threshold of 100 percent of GDP for the first time since the years after World War II. Debt will peak at 107 percent of GDP in 2016, 34 percentage points above levels before the global financial crisis, the report said.

The IMF estimates that financing needs in the richest nations will continue to rise this year after surging in 2010, and will remain high in 2012.

Japan has the highest financing requirements for its deficit and its maturing debt this year, with the total amounting for 56 percent of its GDP. The U.S. is second, with needs at 29 percent of GDP, followed by Greece, Italy, Belgium, Portugal and France, which all have needs above 20 percent of their GDP, according to the IMF report.

Euro Members
In the euro region, “market conditions remain tense in several smaller countries, in part due to ongoing concerns about possible feedback between the financial sector and the sovereign,” it said.

As the region narrows its deficit, investors are “discriminating in favor of countries with credible policy frameworks,” according to the IMF.

In the U.S., the stronger economic outlook “has been reflected in higher real yields, leading towards more normal interest rate levels,” the report said. At the same time, the Federal Reserve’s latest bond purchase program is likely to have lowered them, it said.

Yields on U.S. 10-year notes were little changed yesterday at 3.59 percent in New York, according to Bloomberg Bond Trader prices. They will increase to 3.90 percent by year end, according to the weighted-average forecast of 71 economists in a Bloomberg News survey.

“Rollover problems for the largest advanced economies remain a tail risk, but one that would entail huge costs for them and the rest of the world,” the IMF said.

By contrast, investors perceive emerging-market risks as “benign,” according to the report. Deficits in such countries are narrowing amid fast growth and higher commodity prices, it said. The deficit in emerging economies will narrow to 2.6 percent of GDP this year, compared with 7.1 percent in their developed counterparts, the IMF forecasts.

Still, the pace of fiscal tightening is short of what is needed and these nations should refrain from increasing spending in the near term and rebuild fiscal space, the IMF said.
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vetteman said:
Faux job numbers could lead to real trouble

Last Updated: 12:54 AM, April 12, 2011
Posted: 12:00 AM, April 12, 2011

John Crudele

Deception is a dangerous thing. You never really know when a lie may turn on you.

Take, for instance, the Labor Department's annual springtime boost in the faux jobs market. While it's nice that the government thinks there is an employment boom coming, this won't be a good development if that boom turns out to be imaginary yet still causes the Federal Reserve to prematurely tighten credit conditions.

Let's start from the beginning.

Early this month Labor reported that 216,000 new jobs were created in March. It was better than Wall Street expected.

But the figure included 117,000 jobs that the department thinks, but can't prove, were created by newly formed companies that might not even exist. In fact, the department is getting so optimistic about the labor market that it increased this imaginary job count from just 81,000 in March, 2010.

As I've been telling you for months, the spring always causes the Labor Department to goose its job-creation numbers. And maybe sometime in the future this process will be warranted. But during 2009 and 2010 these springtime assumptions -- which are officially called the Birth/Death Model by Labor -- led to major errors in the annual job count.

The next three months should be doozies. In April 2010, the Labor Department guessed that 188,000 jobs were created by these newly formed, maybe nonexistent companies; last May's total job number was jacked up by a 215,000 guess, and June got an artificial boost of 147,000 jobs.

This year, Labor will likely be inserting even bigger faux job totals for each of those three months.

In other words, you still might not be able to get a job in the real world, but there should be plenty of fake jobs for the newspapers to write about and the politicians to brag about in speeches. Why should you care?

If you are just a regular person reading this column you should be appalled that Washington has trouble getting its numbers right. But wait, there's more.

Interest rates have already been rising because (and I don't need to tell you this) inflation is a problem. Mortgage rates, for instance, have moved three-quarters of a percentage point higher over the past six months. And that's without the Federal Reserve purposely tightening credit conditions.

The next three months' job figures -- if they are as strong as I think they will be -- could give the Fed a compelling reason to, at the very least, end the money-printing operation it calls Quantitative Easing. And it may even have to start talking about raising interest rates.

That won't be good news for either bonds or stocks, the latter of which have been on a truly unbelievable ride upward. Remember the first investment advice you received (probably from your mom or dad): if it's too good to be true, be suspicious.

It's gonna get exciting especially when you see what happens by summer. (But that's for a future column.)

Read more: http://www.nypost.com/p/news/busine..._to_real_3zKnIS84fd4XYOLbEK48GL#ixzz1JL5FhwO8
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Meanwhile, in the "Real World™", companies are hiring and filling positions that have been left vacant for months.

I especially liked how the "author" left his accusations open, without a shred of actual proof (much like your cooking the books claims) and just says to "wait and see" till this summer. :rolleyes:

I can tell you what I see NOW, and it doesn't match up to the claims of this editorial. Business here in Florida (Tourism is one of the last things to recover from an economic recession, as I have repeatedly pointed out to you and your "not republican" bros) is Fucking BOOMING.

I can understand your cheering for failure though, it's your only hope of maintaining anything resembling relevence with public opinion rapidly turning against the GOP.
 
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