It's not a depression, It is a holding pattern, with investors and business owners waiting for the voters to put down the Obama agenda

The economy will fix itself...It is the single immutable law of the economic universe...and If Government had gone hog wild trying to "fix" the Great Depression, we would probably call it the 30's downturn

twta_twisi - I agree.... As soon as businesses see that the extremely anti-business climate surrounding Obammy & his agenda is going to be repealed they will begin investing again and hiring more employees. Right now there is just too much uncertainty with Obammycare, Cap & Tax, the repeal of the Bush Tax Cuts, etc.....

The key to the recovery is our vote. Show Nancy, Harry & the Dem. majority the door and the rest of the chips will begin to fall in place.

Amen, David. Others can call it what they want, I guess but, it certainly isn't good. Economists trying to be as optimistic as they can are saying this will continue to year end. Which would mean a holiday season the lights of retailers have never seen. Which is going to be another step down. The fallout from this is almost endless. We have not seen the bottom yet. And the longer it drags on...well, what more can I say.

obama has openly said that the jobs that have left America's shores are not going to come back since he is not going to fight for them. Amnestyfor illegal immigrants is also high on his agenda.

With that said, until there is an administration to put America's needs first - bringing back jobs from foreign shores, deport all who are not hear legally, stop bowing down to foriegn leaders, etc....

There is no end in sight.

When he ran for president he challenged everyone to further they're education. Looks like he should of on economics and the constitution.

Longhair, What you said is so true- We need to bring back Manufacturing to this Country, Obama's big thing is College but everyone can't go or just not that interested and want to work in other fields. He is not behind Businesses at all, and Businesses won't start hiring until we can get his Health Care Bill, Regulations and the Tax Bills either Repealed or fixed.

The reason he needs Amnesty for illegals is "he" needs the votes.:)

Using the same formulae as during the Great Depression this is a Depression. The actual calculations would be that the US is now at 20% Unemployment. The same calculations had the Great Depression at 25% Unemployment.

To SOLVE these Problems irregardless of Party (Repugnants, Demoncraps, In Depends (Adult Diapers):

US Economy: Reinstate the Glass Steagall Acts. The Glass Steagall Acts made illegal those causes of the 1907 Depression and the 1929-1939 Great Depression. It took them from 1907 to 1933 to figure out the causes and find out that "Regulation" of the causes did not work and write a Law that would actually stop another Depression. The Glass Steagall Acts worked from 1933 to 2000. In less than eight years those realizing legalization of previously illegal activities could make trillions of USDs in profit, by doing so they made 60-100 Trillion USDs profit and triggered the "Global Economic Crisis" consisting of the "Financial Crisis", "Mortgage Crisis", "Credit Crisis", "Wall Street Crisis", etc.. With the current attempts to "Regulate" their activities not going to stop the next "Crisis" of 54.6 Trillion USDs. All the Billion USD Bailouts do not pay for the 60-100 Trillion USDs. There are Political ulterior motives for the Bailouts (discussed in another Newsvine Topic).

US Jobs/US Manufacturing. Elimination of the Free Trade Agreements and Amendments that legalized the Outsourcing of US Jobs and US Manufacturing.

Also pertaining to US Jobs, National Security. President Obama issues an Executive Order to implement the revised Insurrection Act and the revised January 21, 2009 Patriot Acts. This would allow the use of the US Military within the United States of America legally suspending the Posse Comitatus Act. The US Military, US Law Enforcement, State's National Guard, US Intelligence would conduct a US NORTHCOM Contingency Plan similar to the successful President Eisenhower "Operation Wetback", the securing of US Borders, nationwide sweep and the immediate deportation of millions of Illegal Aliens as a National Security Threat. The National Security Threat: 1. Illegal Aliens forced to cooperate with Terrorists by the Mexican Drug Lords. With the goals of the Terrorists and Illegal Aliens stated goals thru La Raza, M.E.Ch.A., etc. being similar, the overthrow of the USA (formation of Aztlan). 2. US Economy, Financial drain as only one Illegal Aliens works and ten collect Public Assistance while not paying taxes (tax evasion), as Cash for Work Only, no employer paperwork (employer paperwork means more deductions, less money and more of a chance of deportations); no intent on becoming US Citizens (too high cost of living in US as US Citizen), money sent home (money laundrying) is so that they can live like kings due to monetary exchange rates (their families are with them in US, so it is NOT to feed their starving families (paid for by Taxpayer paid Public Assistance, illegal to ask Citizenship status (once California Proposition187 defeated, Legal Precedent) before giving Public Assistance, Public Housing, etc.. The money sent external to the US by Illegal Aliens adds to US International Debt. 3. US Jobs taken away by Illegal Aliens from the children of US Citizens, resulting in an Unemployment rate of double the national average. 4. Diminished International US Citizenship Status as US allows Invaders from other Nation(s) to violate US Laws (Legal Precedents), US no longer a Nation of Laws. Meaning if US Citizens Rights are violated in another Nation, does not mean anything (due to Legal Precedent, US Citizens Rights violated in the US by over 23 Million Illegal Aliens violating US Laws to protect US Citizens and USA and rewarded for the violations of US Law.). 5. etc. I could continue to list the interrelated problems caused by Illegal Aliens (posted on another Newsvine Topic). If you think that over 23 Million Illegal Aliens (cohesive thru La Raza, M.E.Ch.A, etc.) cannot affect 300 Million, do the math.

David Walker…you my friend, are in denial. This is what happens when you elect a president with a personal agenda and absolutely no experience. I thought you wanted to be honest.

Why is the national debt 13 trillion? Because someone has this sense of entitlement! Michelle’s lavish trip to Spain proved that. The citizens that believe they too are “entitled” need to work for the things they want instead of looking for the next hand out.

Whatever happened to pride of one’s accomplishments? You want to take away from the man with a good work ethic and give it to the man who refuses to work for anything. They continue to be held down by the government by accepting Medicaid, food stamps and other government hand outs.

The government should be encouraging them to grow, not stifling them. But they don’t see it because they are told they are entitled to it. I wonder if they realize that they too could own a multimillion dollar company, if they were willing to work for it. Do you think Oprah got her money by sitting around waiting for a government handout? Do you think Bill Gates or Sam Walton did? No, they have a strong work ethic and its people like you that feel entitled to their success.

The poll in 2008 doesn’t matter anymore. Wake up! He blew it, along with his democratic cronies and now it’s time to pay the piper. America is sick of their lies and will prove it on Election Day. Democrats are running scared as they should be. Tea baggers got rich? Look at how many billionaires we have in congress! Kerry can afford his new yacht, but won't pay taxes on it. Rangel uses 4 rent subsidized apartments, when he can afford any apartment in NY. Waters gives money to her husband’s bank for her own personal profit. Nancy Pelosi has more than quadrupled the rent on her San Francisco district office, making the already bankrupt state foot the $18,736-a-month? Harry Reid spending millions on coked-up monkeys and exotic ants while his state is ravaged by the worst foreclosure rate and highest unemployment rate in the nation?

They act like kids in a candy store with no restraint! These people have no ethics and yet you want to keep them in power?

david-475776 post 1.8

those realizing legalization of previously illegal activities could make trillions of USDs in profit, by doing so they made 60-100 Trillion USDs profit

Finialy, obviously an intelligent poster. People you need to realize the implications of what David-475776 has stated in regards to applying these facts to our elected politician's agenda.

Supply side economics hasn't worked. I get so irritated every time I hear that. :(

Fixed that for ya :)

Feb 09

“It will be a two-year, nationwide effort to jump-start job creation,” Obama said of the plan. “We’ll put people back to work rebuilding our crumbling roads and bridges, modernizing schools that are failing our children, and building wind farms and solar panels.”

Yesterday $800,000,000,000 + tax dollars later

A campaigning President Barack Obama said Tuesday it will take a few years to dig the nation out of the recession, warning impatient voters that any candidate promising faster results "is just looking for your vote."

...is just looking for your vote?

Uh, aren't you the one out campaigning?

So his approval is down, surprise surprise surprise...DUH!

Very well said, DWF. Unfortunately, poltiicians need to frame their programs or agendas in two year cycles, because no one is going to vote for a candidate who is honest enough to say their policies may take a decade to be effective. Disingenuous? Yes. It really gets under my skin though seeing those two quotes uo next to each other. I must say, Obama is an opportunist, and effective campaigner. However, his lack of experience is showing through. This is not an endorsement of the republicans, as many will try to paint it, but a statement of what seems to be obvious.

When we have a socialist academic applying Marxist theory to a capitalistic driven economy, this is what results. He is trying to spend his way out of this recession which is, of course, impossible but when that becomes apparent he just wants to spend even more. His approval rating continues to slide because even chairman Obama by now knows that the “blame Bush” charade no longer has any traction even among most of his gullible zombie followers.

Once before a president (FDR) attempted to spend his way out of economic doldrums and that failed miserably (his treasury secretary was quoted in the late 30’s as saying ”the only thing we accomplished was the accumulation of great debt) and it was only the onset of WWII that got everyone employed and jump started the economy.

Businesses in the US will not hire because of the current anti-business climate in the administration. Business leaders are sitting there looking at taxes that are about to increase, a huge cost associated with Obamacare lurking, an extremely pro-union agenda, etc. Businesses are saving piles of cash to be able to weather the coming storm. Until they see a change in the weather, they are not going to spend any of that money on hiring. In addition, with so many people out of work, there is no demand for goods and services, so companies do not need to hire more employees. The current regulatory environment for small businesses is so bad that no one wants to try and start a business right now. As an example, the new 1099 provision that was stuck into the health care bill is going to add a huge administrative burden on businesses, with small businesses hurt the worst. Anyone who looks closely at the law, along with the planned implementation of the law, can clearly see that it was put in to force more business to the banks by pushing the use of credit cards instead of cash or checks for business transaction. This is just one example of the current anti-business environment.

The administration push for amnesty for illegal immigrants will also further damage our economy. Amnesty will not solve the illegal immigration problem, it will only serve to encourage more illegal immigration. Illegal immigration drives down wages and places huge burdens on social services programs, education, law enforcement, and medical care costs. The federal government forces the states to educate the children of illegals, even though their parents pay no taxes. The federal government forces hospitals to treat illegals in emergency rooms. This results in higher health care costs for the rest of us, since the illegals usually give a fake name and address and skip out on the bill. This drives up the costs for the rest of us, since the hospitals haveto recover those costs from somewhere. Illegals use fake/stolen social security numbers to get food stamps and apply for other social assistance programs. A large percentage of our prison population is illegals, costing the state and federal government billions of dollars to house and feed them. Securing the border and rounding up and deporting all the illegals would greatly improve our economy. It would result in a huge reduction in unemployment, drive up wages for the lower and some middle class, greatly reduce the costs of entitlement programs, education, health care, & the prison system, and reduce the costs of law enforcement by reducing crime. These savings would reduce taxes and put more money in the hands of consumers. This, in turn, would spur on our economy as people spend at least some of that savings on purchasing more goods and services. And before the liberals start with saying that the illegals spend money too, I would point out that illegals send large portions of their wages out of the country to support families 'back home'.

For our economy to recover we need a new administration with new policies that are friendlier to businesses and to hard working Americans.

Look at all of the "vacation spots" that he's going to and spending his own money to personally, single handedly repair the economy......>;p Martha's Vinyard is next...What a guy........

Give him another month - he'll set another record for low ratings.

You know what I don't understand is Obama and his union buddies now own GM. There is a GM plant in Indiana that has about 630 good UAW employees and they are in trouble. Looks like the UAW wants to sell the plant to another company, but the company won't buy it unless the union takes some concessions. One of the concessions is that they drop their starting $29.00 hourly union pay to $15.50 an hour. The union brought in their head guys to tell the membership that this is a wonderful deal and that they should take the pay cut. If the union and Obama wasn't the owners now they would be telling their membership to tell the company to stick it and go out on strike. It's called being two faced people and that is exactly what is happening to his so called recovery. There has not been a recovery and don't expect one. Just expect a big old smile, an I'm sorry but Bush hasn't made this easy. He can't even do as he said when he said he wasn't going to spend any money unless it was completely paid for, he has spend like a teeny-bobber with his parents credit card.

FEDUPWITHFED----you are sooo right!

David,

We should let him do the job we elected him to do, and that applies particularly to the Republicans who are doing their damnedest to bring this nation to its knees.

You may have voted for this clown but you do not speak for me as I did not. He is a total failure and his policies have produced as much as his speeches when he was running. NOTHING! Every time he opened his mouth he had all these great visions and made so many promises but never did he produce any concrete evidence on how he would accomplish it. Unfortunately the Young people and minorities sucked it up and came out and voted for the first time in their lives. And now many of those who ate up that BS realize he didn't have any ideas. He was just campaigning. I will say it again, he is a failure!

Donna, Bush didn't spend money. Only Congress has that right.

The republicans negativity is working, plain and simple. Despite the negativity we've had 4 consecutive quarters of gdp growth.

If big business wants more big business like we had the last administration, I'm not thinking thats a good idea for America at all.

Rob the future to pay for the here and now - a "PONZI SCHEME" - Legal, cuz the government does it! Foreclosure, bankrupycy if the private citizen does it!

Ruh Roh, time for America to pay for their greed and faulty economic schemes!

What we have here, is a failure to communicate!

Public sector employees earn more than 2x the private sector on average as reported on MSNBC recently.

Cutting spending by 30-60% would be the first step towards a fix.

I liked the comment in the article stating that his personal approval rating (49%) is higher than other rates because people like him personally.

I love my grandchildren, but they have no business running for office and certainly not POTUS. The US elected a child and this is what we get.

david-475776 - Great post in 1.8

3 small fixes that would go so far to improving the current situation.

American for Israel it is true that only Congress can spend money, however...Thanks to the liberals they have opened the checkbook for Geithner to have open access. For instance Fannie and Freddie no longer has to get approval from Congress to get money Geithner just writes a bouncy check and gives it gladly. Obama has put into almost everything passed some controls that either he or his bunch of misfits can control the purse strings. Congress has almost made themselves irrelevant. BTW I am with you on Israel.

Eric, you really do need a new mantra to spout. Four consecutive quarters of growth that is attributed to government spending (stimulus) and private industry cutting jobs but getting the same or greater productivity out of those that are still employed. And at what cost is this small amount of GDP really boiling down to?, a huge huge debt that will be carried beyond either of our lifetimes. And thats in light of the very real and likely possibility that our economy - under these policies - will never return to it's state a few years ago... and will likely get worse once the government is nolonger able to borrow money to aimlessly spend.

Four quarters of growth... you need to figure out what your statistics mean and don't mean before waving them as justification for praise.

@ FedupwithFed

3 WORDS FOR YOU!!

AMEN, AMEN, AMEN

+1 for you and friend request sent.

The headline should just read: 'Obama at new low'. They should leave it at that, and then they could reuse it every day.

Thanks PHN and Patrick...and yes, will add you. :)

Fed,

I for one, must agree with you. If there wasn't a safety net for every screw up possible, paid for by the responsible people who didn't screw up, outcomes and attitudes would be so different.

Of course this goes beyond government programs and all the way into most houses in America where a child's shortcomings are someone else's fault, and regardless of education everyone should earn a 'living salary' (see six figure income). Not to worry though, they will get their wish, they will earn six figure incomes, but a loaf of bread will cost $90 bucks, if they can find one.

Thanks Baberuthy

“It will be a two-year, nationwide effort to jump-start job creation,” Obama said of the plan. “We’ll put people back to work rebuilding our crumbling roads and bridges, modernizing schools that are failing our children, and building wind farms and solar panels.”

If Obama REALLY cared about the economy, he would have gone to work on it day one, instead of cramming HIS personal agenda down everyone's throats.

I for one, must agree with you. If there wasn't a safety net for every screw up possible, paid for by the responsible people who didn't screw up, outcomes and attitudes would be so different.

How novel the idea... taking responsibility for one's actions. Damn few people left in this world willing to shoulder the consequences of their mistakes... the trend is, "well why didn't you tell me I was making a mistake" and "how are you going to fix this?"

"Obama at a new low for his handling of the economy"

...and this is news to who????

I see where he has no regrets about his mosque at ground zero comments either. To those of you lefties still in denial, isn't it obvious he cares not what the majority of American people want or think?

He can't oppose the mosque, his mus-lame buddies wouldn't like it... I still say he'a a manchurian-alqeida mole on a mission to bring us down

Yes Eris2010 you have to put the money into the tax payers. The money has to be kept in the U.S. and not abroad. Small business are tired of the economic shifts and that's why they are so scared of loans. Even if you put money into small business, chances are they would not take it. Government spending has to get under control and I'm not meaning cutting teachers, law enforcement, schools, etc. We are so out there when it comes to spending money on other country's we forget what financially we just went through specially when it comes to the billions spent on other countries and forget about our own. Self inflicted spending insecurities does not have a trick affect for the blue collar or small business futures. This country was built on the backs of the blue collar workers. It started with them, and will end with them. I believe in the Lincoln quote?

Did you notice that the NEWSVINE isn't allowing people to comment on the article about the fact that Obama has "No Regrets on the Mosque Issue" ? You literally can't get into the vine from the bottom of that page.

HOT TOPIC. They don't want the people to flip out !!

I believe in freedom of religion, but putting a mosque near ground zero is in SUPER bad taste !! It would be like putting a "moderate" Nazi community center on the Auschwitz site.

Whoever is pushing for this is doing so just to prove a point. It is in SUPER bad taste,...it's disrespectful,....and it is guaranteed to bring more division and anger among the communities.

BAD IDEA,..turn back !!!

Obama just lost me. I just became a Republican.

Well I am not suggesting that we pour stimulus money into our economy indefinitely but I do believe we have to at this time to get people spending so that we can get out of this "standstill" we're in. No one is going to do anything until they see people spending again. No one can afford to right now because they're jobless or relying on benefits to get by.

Benefits do stimulate the economy. This is not about giving people a free ride. It's just about moving the economy forward. Once that starts then we can focus on reforms, and spending cuts, (some of those we could do now but we could do even more after) agency cuts and all those things that would bring our budget back under control so we can start bringing down our deficit.

I am not for giving anyone a free ride but I don't think helping those that have been forced out of jobs through no fault of their own and the irresponsibility of those at the top is too much to ask. It's good for them and good for our economy.

Did you notice that the NEWSVINE isn't allowing people to comment on the article about the fact that Obama has "No Regrets on the Mosque Issue" ? You literally can't get into the vine from the bottom of that page.

Yes Brad, I did too. You can refine your search and specify stories about POTUS, thare are other stories & discussions started about the story. But, yes it was not convienient to find at all. Makes you wonder...

Great post Fed, (post 1.11) Thanks for accepting my invitation....

Welcome Brad!

I noticed that too...you cant view comments or add comments. Hmmmm

Thanks Toxic...and you are welcome! Great minds think alike

They want to keep them in power because they believe their words, period. Words like, " we care about the little guy who's being stepped on by the corporate giants." "We are the ones who are looking out for you." "All those Republicans care about is keeping their Fat Cat cronies in business." As FedUp put it better than I ever could, these powerful Democrats are some of the richest of the rich. They are wealthier than any of their Republican counterparts and just keep getting richer while the country falters.

NOW listen up, all of you whiners who have lost your jobs and your health care and your homes.

Things could be a lot worse.

Just ask Oba-a-a-a-ma.

David you posted some good points.

David, Obama has spent more money than all 43 prior Presidents combined in 18 months

Free Mason. Where do you get your facts? Obama has spent more in 18 months than all of the previous presidents combined? You need to post real facts. We have some real problems in this country. And fantasy facts will not resolve any of them. And these problems started long before Obama became president. And to really fix things we need to get past partisanship. The fix will not reside with one party. We will have to come together as a country to resolve this one.

And I haven't seen anything on the stoning to death of the couple in afganistan. I guess Barnie Frank should start worrying too. Islamic law is on the way to the white house. The next step is to abolish the Supreme Court and activate the black muslim army.

Thanks Tom. Just had to get that off my chest and boy to I feel better now...

August 18, 2010

While Economists Lied, the Economy Died

Paul Craig Roberts was an editor of the Wall Street Journal and an Assistant Secretary of the U.S. Treasury during the Reagan administration.

Deceptive Economic Statistics

By PAUL CRAIG ROBERTS

On August 17, Bloomberg reported a US government release that industrial production rose twice as much as forecast, climbing 1 percent. Bloomberg interpreted this to mean that “increased business investment is propelling the gains in manufacturing, which accounts for 11 percent of the world’s largest economy.”

The stock market rose.

Let’s look at this through the lens of statistician John Williams of shadowstats.com.

Williams reports that “the primary driver of a 1.0% monthly gain in seasonally-adjusted July industrial production” was “warped seasonal factors” caused by “the irregular patterns in U.S. auto production in the last two years.” Industrial production “shrank by 1.0% before seasonal adjustments.”

If the government and Bloomberg had announced that industrial production fell by 1.0% in July, would the stock market have risen 104 points on August 17?

Notice that Bloomberg reports that manufacturing accounts for 11 percent of the US economy. I remember when manufacturing accounted for 18% of the US economy. The decline of 39% is due to jobs offshoring.

Think about that. Wall Street and shareholders and executives of transnational corporations have made billions by moving 39% of US manufacturing offshore to boost the GDP and employment of foreign countries, such as China, while impoverishing their former American work force. Congress and the economics profession have cheered this on as “the New Economy.”

Bought-and-paid-for-economists told us that “the new economy” would make us all rich, and so did the financial press. We were well rid, they claimed, of the “old” industries and manufactures, the departure of which destroyed the tax base of so many American cities and states and the livelihood of millions of Americans.

The bought-and-paid-for-economists got all the media forums for a decade. While they lied, the US economy died.

Now, back to statistical deception. On August 17 the census Bureau reported a small gain in July 2010 residential construction housing starts. More hope orchestrated. In fact, the “gain,” as John Williams reports, was due to a large downward revision” in June’s reporting. The reported July “gain” would “have been a contraction” without the downward revision in June’s “gain.”

So, the overestimate of June housing not only made June look good, but also the downward correction of the June number makes July look good, because starts rose above the corrected June number. The same manipulation is likely to happen again next month.

If the government will lie to you about Iraqi weapons of mass production, Iranian nukes, why won’t they lie to you about the economy?

We now have an all-time high of Americans on food stamps, 40.8 million people, about 14% of the population. By next year the government estimates that food stamp dependency will rise to 43 million Americans. So last week Congress cut food stamp benefits. Let them eat cake.

Wherever one looks--food stamps, home foreclosures, bankrupted states, mounting joblessness, the message to long-suffering Americans from “their government” is the same: go eat cake, while we fight wars for Israel that enrich the military/security complex and while we bail out banksters whose annual incomes are in the tens of millions of dollars and up.

It is impossible to get any truth out of the US government about anything. If private companies used US government accounting, the executives would be prosecuted, convicted, and incarcerated.

“Our government” is committed to fighting wars to enrich the military/security complex and Israel’s territorial expansion at the expense of cuts in Social Security and Medicare.

All most members of Congress, especially Republicans, want to do is to pay for the pointless wars by cutting Social Security and Medicare.

When they worry about the deficit, it is usually Social Security and Medicare--so-called “entitlements” that are in the crosshairs.

You don’t have to be smart to see that Wall Street’s and the government’s response to the amazing US budget deficit is not to stop the senseless wars and bailouts of mega-millionaires, but to cut “entitlements.”

I will end this column on unemployment. “Our government” tells us that the unemployment rate is just under 10 percent, a figure that would have wrecked any post-Great Depression administration. But, again, “our government” is lying.

Compare this fact with the number you read from the financial press. Right now, if measured according to the methodology of 1980, the US unemployment rate is about 22%. Thus, the reported rate of unemployment hides more than half of the unemployed.

And Secretary Treasury Tim Geithner welcomed us in the August 2 NewYork Times to “the recovery.”

Utterly amazing.

http://www.counterpunch.org/roberts08182010.html

Why are we blaming Obama, when it is the Republican senators who are fillibustering EVERY SINGLE THING that could help the economy? REPUBLICANS ARE THE TRUE AMERICAN ENEMY as they intentionally sabotage the economy. Republicans have even admitted that they want Obama to fail. The Republicans are the cause of ALL economic issues.

The Dems screwed up. They should have never tried to work with the repubs. They should have steam rolled anything they wanted through the house and senate. They had the votes. The repubs would have done it if the tables were turned. They did it during the 90s. The Dems have only themselves to blame. I really think some of them sold out.

"The president needs to take America’s labor, business and Congressional leadership up to Camp David and not come back without a grand bargain for taxes, trade promotion, energy, stimulus and budget cutting that offers the market some certainty that we are moving together — not just on a bailout but on an economic rebirth for the 21st century."

Progressive Thinker...Why are we blaming Obama, when it is the Republican senators who are fillibustering EVERY SINGLE THING that could help the economy?

How do you figure since both the house and senate are democratically controlled?

With comments like the majority of those posted here, there is no wonder we are in a mess and little hope we will ever get out of it.

The massive trade deficit is a huge danger to our economy, but it pales in comparison to the paucity of coherent, well-grounded, critical, analytical thought.

Last week "MSN" reported that the president was on his "victory tour" and today we're told that he's approval ratings have hit a "new low".

I guess the "victory tour" didn't work out too well.

Fedup...

I too am amazed at how often the Republican Senate and House members have been blamed by the White House for stopping all their wonderful ideas when both have been fully controlled by Democrats, who could have...and did... pass just about anything that their collective hearts' desired.

The polls are indicating the sleeping masses are awakening from their cool aid stupor...

The Republicans represent big business. Big business wants cheap labor so the Republicans want to drive down wages. Big business wants tax cuts so the Republicans cut unemployment benefits. The Republicans just voted down a bill that would end corporate subsidies to outsource jobs. That is why the top 1% are doing well while middle class families are struggling to pay for necessities.

Wet Willy writes

When we have a socialist academic applying Marxist theory to a capitalistic driven economy, this is what results. He is trying to spend his way out of this recession which is, of course, impossible but when that becomes apparent he just wants to spend even more. His approval rating continues to slide because even chairman Obama by now knows that the “blame Bush” charade no longer has any traction even among most of his gullible zombie followers.

Once before a president (FDR) attempted to spend his way out of economic doldrums and that failed miserably (his treasury secretary was quoted in the late 30’s as saying ”the only thing we accomplished was the accumulation of great debt) and it was only the onset of WWII that got everyone employed and jump started the economy.

Yes this is another mindless observation from the clueless right. The Government took complete control of our economy in WWII. The reason everyone was employed during WWII is because the Government employed them. It was a massive government jobs bill and yes it ended the depression.

I got this ironic email today and had to share..

Ecclesiastes 10:2 (NIV)

“The heart of the wise inclines to the right,
but the heart of the fool to the left.”

I’ve often wondered why conservatives are referred to as the “right” and liberals as the “left.”

Here is one small business owner that has a position available that is waiting to fill it until after the first of the year. I may not be able to keep them. Health insurance rates just went up 20% on my current employees, and I am afraid it will just get worse after the first of the year. We might have to ask that the employees contribute to part of the expense and that doesn't help the economy. Less money in their paychecks means less spending on other items, I wonder if the Pelosi, Reid, and Obama thought of that when they shoved health care reform down our throats. Does anyone really believe our insurance costs will go down?

Finally, someone with common sense. The Economy circle always fixes itself, its called the cycle. But, I do think that this part, of the end cycle, was brought upon us quicker and harder because of the investment companies and the government pushing on banks to loan out money to people who couldn't afford to pay it.

We live in an age of "INSTANT GRATIFICATION", we have to have dinner ready in 30mins, need to eat in 15 mins, must have everything now, now, now.

Sorry to those that lost jobs and money, half my family went unemployed, have 3 extra people in my house because of it. But this is life.

But this government (Rs and Ds!!!) are F'ing it up. Since Mr. O has been in office, the amount of public jobs has increased by 25%!!!! AND the amount of money and benefit packages that the public sector received has increased by 50%!!!!

Before you start jumping on my butt about my comment, think on this. How do public sector jobs create money??? What product do they produce that pays FOR ITSELF, and has a profit?

NOTHING............

Oh @smallbusinessforMcCain

Don't hire, until beginning of the year! If the BIG BOY companies aren't, that should be a hint to you smaller business not to either, there is a reason why.

And I'm in the insurance and healthcare sector. Its going to get worse.............now that obamacare is out.

Lower taxes.........then people have more money to spend..........raise taxes..........people save and don't spend...............then the economy comes to a halt.........and then your dead in the water...............

We are in a global economy now and we can't stop treading water, if we do, we are going to sink and everyone else in the race will pull ahead.

If the people think they are "Entitled" it's because they get the idea from our government. Who votes themselves pay raises? Who votes themselves full retirement benefits after only serving one term? Who continually tries to tell the public what is best for them? Who continually looks at a problem, then blames someone else for it or says that the solution is more government? Who wants to grant amnesty to millions of illegal aliens so they can stay in office, off the illegal votes of those illegal aliens? Whio keeps handing out money that isn't theirs?

Like American for Israel said, what do public sector (government) jobs create, besides more debt?

Where has all this supposed "Stimulus" money gone to? It didn't go to the company I was working for when I got laid off. It didn't go to me keeping my health insurance.

For these people that think "spreading the wealth" will work, why don't you start with YOUR money?

The Stimulus went to pet projects and public sector jobs.

Until we start bringing back product, producing companies, I fear we as a country have reached our peak.

I may be wrong, but I think that 85-90% of our country's jobs are in the service industry. That scares me.

smallbusinessformcain--I too am a small business owner and I agree with all that you stated in your post. It is Obama's agenda that is killing this economy! I am afraid to find out what our health care premiums will be next year, not to mention the other messes Obama has gotten us into. We MUST have a change beginning in November to halt this President's nonsense and erase the fear gripping all people in this country, but especially the business community! Hope Obama's poll numbers go even lower and stay there!

Just two cents, I have posted here time and time again I am from Michigan I remember the Jimmy Carter years like it was yesterday. I have also said I am from around Detroit. Just like President Carter who ran around for the time apologizing for our terrible attitude than Just like Our current president. Worried about legacy and that was it. When the 1st realy waves of jobs left in the late 70's it was horrible. But it did slow down until the 90's when NAFTand GATT were passed. Even Perot said that would be the finishing blows to manufacturing as the sound of jobs being excelerated as they left. This has been coming for the last 35 years but if you did not live in an area that those who worked those kind of jobs you would not notice. The unions were the demise of the job market as I saw those With the UAW, Teamsters and other complaining about their wage and benefits. I know those I grew up with they were able to support a house hold of 4, a home, two cars and getting benefits that now we would fight to get. Most of them had health, dental, optical, and retirement program. The first three they did not usually have a deductible but if they did was minimal. Most Americans when you are buying things made Mexico, India and other third world countries a wage that here in The U.S. we could not even live on. So you wonder why jobs like this left look at the difference in prices. I used to ask Guys in the neighbor in the late 60's early 70's (before the 1st oil embargo) why they drove foreign cars and they told me because they were cheaper. You could buy a bug $1500 dollars brand new and the equilvent American car was around $3000. So between that most Americans put either themselves or fellow Americans out of work and it has been a vicious cycle since.

The other reason it is a mess as we have created and I AM ENTITLED AND OWE MENTALITY AMONGST those that are under 50(BTW I am in my late 40's) I grew up and went to school with them. What few wanted to make something of theirselves were beaten down by the same mentality that is going on now. Late 60's and into the 70's were tough time for my friends who wanted to take advantage of what they were being offered. Also unlike what is being taught over and over the GOVERNMENT WILL TAKE CARE OF YOU!!! That has been being taught since the 60's. I have always been proud to be an United States citizen, was raised by parents who were depression Children and their value and moral code that you work hard, be a law abiding citizen and be fiscally responsible. In those teaching taught that the GOVERNMENT WAS THERE TO INSURE YOUR RIGHTS so you could but not THEIR TO TAKE CARE OF YOU FROM THE MOMENT YOU ARE BORN TO THE DAY YOU DIE. So while most did not pay attention the life that you, your children and grand children should be having has been being taken for granted and sucked out of this country. Like I said early it really started flying out the door when the True 60's generation started getting control of business and government. Look at the ages of Pelosi, Dodd, Franks, Clintons, Bush, and others were and are those same indviduals who were socially and politcally active in the 60's. Our President has been groomed by those same radical Ideas and being Backed by individuals like George Soros, Mayor Bloomberg, and Bill Ayers to name a few. I had hoped it would get better but when you have killed the goose that laid the golden egg(Middle Class) and the rivers of milk and honey have almost dried up everyone wonders why and how it happened. Until people pull their heads out of the sand nothing will not change.

BTW a true independent As I was taught my dad a history, politcal science and english teacher do your homework before you vote. Reasearch your canadates it should be much easier than 30 years ago. Do not be a mindless drone and pull the Party lever only!

Stealing more money from our kids and grandkids and wasting it on public sector job protection and pork barrel projects is worthless and immoral. Obama and the Dems already wasted 1 Trillion dollars and accomplished NOTHING.

We need some common sense solutions:

- Term limits to eliminate the professional politician

- Line item veto to eliminate wasteful spending

- Eventually, a balanced budget amendment to the Constitution

- Repeal of Obamacare and replace with insurance reform, tort reform, and letting health insurance compete across state line

- Serious review/reform of social security, medicare, medicaid and other entitlement programs. These programs are unsustainable according to any competent acturial analysis.

- Leaving in place the Bush tax cuts for ALL taxpayers, or at least only increasing the top bracket on income of $1 million or more. Folks, a small business owner with $200,000 of income and a family is NOT RICH. Yet, small business is the engine of job growth.

- Serious immigration reform that does not include amnesty. Dems have allowed illegal immigrants to walk in and steal jobs for years. The lie that US workers "don't want to do those jobs" has to stop.

- True lobbyist reform.

Of these eight possible changes, I'll bet Democrats support zero.

Jonathon

I agree with much of what you said but let's take a realistic look at it.

You say

Eventually, a balanced budget amendment to the Constitution

If these sorry bastards had any respect for the law and our Constitution we wouldn't be in this mess to start with.

I have just seen a situation that I often see on the vine. David in 1.8 posted:

Reinstate the Glass Steagall Acts. The Glass Steagall Acts made illegal those causes of the 1907 Depression and the 1929-1939 Great Depression

I have seen this posted as the single cause of our economic crisis more than I can remember. But then I read:

The Economy will and would have fixed itself by now if Washington would just leave it alone...how hard is to understand,

Well the Glass Steagall Act was Washington intervening in what some would call a free market. You can't have it both ways.

Remember when the anointed one said that unemployment would not rise above 8%

Did he really say that? Maybe he did but I can't imagine any incoming president in 2009 would make such a claim considering that the unemployment rate was at 7.7% when G.W. left office. You might also consider the fact that it was 4% when he took office in January 2001. And as far as spending and increasing the national debt. It didn't start in 2009. Consider the fact that in November of 2009 the US paid over 380 Billion Dollars in interest on our National Debt that was incurred prior to 2009. This year we are slated to spend over 450 billion dollars in interest on our national debt. Again, this is debt that was accumulated before the current president had taken office.

My point to this is this problem crosses party lines. And I would be happy to debate you if you think it is confined to one party. The solution will have to come from everyone working together too. We would need to put aside personal interest and special interest and work together as a country to get out of this one. If our creditors were ever to call in their debts I think we could be in serious trouble.

It is not the responsibility of corporations to support the American worker. They exist to make a profit by delivering a good or service of value. Employees are compensated for what the service they provide.

My goodness what did the American worker do before unions and SS? They saved - accepted responsibilty - lived within their means - and if they needed help - their community (read church and neighbors) supplied it.

Amen to that.

My father came to the US with skills, a work ethic and $20. He rose from lower working class to solidly middle class in a decade. All we are owed is an oportunity to succeed; not a job, a home , welfare, a "free" education, medical care, a car, cabe tv or any of the other things I have heard people say are "rights."

Companies and corporations owe you NOTHING - if you thik that taxing business results in anything other than higher prices to you (the tax will always be paid by those who purchace the product and ultimately all of us).

The government produces nothing, consumes resources and is ever needful of more of our money. The only sector growing is government. Will they generate more tax revenue? I thought not.

By the same token, the taxpayers owe the big companies and corporations NOTHING.

If your business model is faulty and unrepairable, your company should FAIL and cease to exist. Getting the government to save your greedy ... everytime your company falters is the path to fascism.

jp lol you are dead on the money except you keep swinging to the wrong side of the political spectrum. It is SOCIALISM not fascism.

GoUSA...

Absolutely correct...the function of a corporation is to produce a profit for that corporation's shareholders.

Period.

Geez, I don't even know how or where to begin. Our biggest problem is racism? You believe in and support Obammy? Do you work in stand-up comedy? If not, you should.

Your rose colored glasses must be a mile wide and a foot thick.

If you are ashamed of how we are portrayed around the world, then start chastising your president. He has made it his own personal mission to go around the world apologizing for this country and subjugating our successes and ethics to the criticisms of foreigners. It would be nice to have a president who actually liked this country and stood for our strength and independence instead of trying to sell us out at every opportunity......

Listen, and listen good, this has nothing to do with race. This President is a nobody, was a nobody and nobody ever heard of him 2.5 years ago. Some powerful forces put him where he is now, and he is completely ignorant and incompetent. It went to his head and to his ever-fatter wife's head as well. I hate his accent (which he seems unable to lose despite his high training(?). I put a question mark here because we don't really know anything about his schooling since he had all the records sealed to hide the fact he is - indeed - a Kenyan.

Stop the race card! I would have gladly voted for someone like Collin Powell but not for this incompetent snot.

Racism? That's the problem? Darlin' you need to look beyond race/sex/religion and see the issues at hand. If the POTUS were pink with purple polka dots...the economy would still be in the downward spiral.

The economy won't change because of the POTUS's race...that will take knowledge and determination. The economy won't get better because everyone love's the POTUS.

Im gonna bite my tongue on this one....and I am bleeding! Consider yourself lucky Gwen

It must have been " Racism" when we were calling Jimmy Carter the worst President ever until now! Funny how all those racists went out and voted this black man in office just so they could criticize how bad a President he is.

GWEN - Don't you see how ridiculous you are trying to protect Obama with the race card? Don't Black people have a right to be a bad President also?

I can't believe everybody doesn't know that if you don't agree with our president, you are a racist Teabagger. Janeane Garofalo said so herself, and she knows what she is talking about. LOL

And racism is unique to the US? You might want to ask the Brits how they feel about the Hindus & Pakistanis or the Germans about the Turks, or the French about their Muslim immigrants. Yep here we go again - against Obama and you sir are a racist. Yeah, ok, right, whatever - next.

Gwen, you're an idiot.

Get off the race issue Gwen. It's not Obama's race. It's HIS socialist agenda that is destroying this country!

Race? That's the best excuse you can come up with?

Gwen,

I am black and hispanic and this is not about race. I am a conservative, and many of us tried to warn the nation how tragic it would be to elect Obama. Not because of his race, but because of his philisophies, his agendas, and his utter lack of experience. As for the unspecified number of Republicans that voted for Obama to show us how bad it would be - it turns out they were also right and the Republicans, hopefully conservative ones, could be back in power soon and with a blank check. It is true that our nation has a lot of issues with racial discrimination, but just because someone does not agree with Obama's job performance does not mean that criticism is racially oriented.

Gwen - you are such a tool and clueless.

Gwen, I bet you've never gone anywhere more than 10 miles of your house, how can you claim that other countries portray us as a racist country. I've traveled overseas and I can tell you they laugh at us for electing Obama as president, newspapers in Europe and Asia predicted our problems more than a year ago due to Obama's lack of leadership experience. They called him an embroidered pillow, pretty on the outside and we all know what is inside.. The truth is that he started working on re-election the first day he took office, that his decisions and policies all benefit only groups of people that are likely to vote for him again. If he really wants to improve the economy and create jobs he wouldn't have done all the thing he did..

Gossman...

Didn't you first check with Senator Harry Reid to see if it is possible to be black...hispanic...and conservative ???

Did you forget about the CRA that Carter started. That WJC made easy-er by deleting paperwork requirements and IGNORED the WARNING by Broosley Borne in 1998.

Dodd, Frank, Pelosi, and Reid get a free-pass???? When they were the ones that were pushing the sub-prime mess.

Then tell me about the increasing 'Health Care' cost due to BHO's CHANGES....

The MAJOR involvement of the USA into a UN Operation. Because of BHO's - EGO....

And if the 'Cap & Trade' passes or the EPA CHANGES go through...... The increasing COST-for-EVERYTHING.....

ALL brought to you by the DEMOCRATS.....

The home mortgage problem needs to be fixed, the jobs, are a big problem, the deficit is a big problem, medical without the jobs it is hard to fix any of this, something needs to be done that will effect, everything, or start over, and hope it changes for the better;

the best way to start on the deficit would be to separate health care from, business, and go to a medicare for all or, single payer, this would save, enough money to pay the debt down over time, and would bring down the rising prices, and would help people to recover better when the economy does come back;

if the government would offer people , all Americans, who qualify" and who lost their homes because of the recession a refinance of their mortgage, and refinance, one third or half, at the going rate, and place the other in escrow, it would cut their monthly payment in half, or or more, if they did a one third mortgage, it would lower it more than half, this would keep many from losing their home, and put more money in their pocket to spend in the economy to help the recovery, and small business;

And offer this to new home buyer, or people that want to build a home, finance half, at lower payments or one third for low payments, if ten million, people built new homes it could create a lot of jobs, and generate taxes!!!

AC Robertson: are you saying that the Republicans played no part in this deep recession, that the country is facing now, and the only ones to blame are the Democrats??? what part did the Republicans play in this collapse of the economy???

dale - Please remove the comma key from your keyboard. You make your sentences hard to read and your points difficult to follow.

dale-763548,

Bush Jr tried to rein in Freddie and Fannie, but it was blocked in the committees. For one.

The social engineering with sub-prime loans was almost entirely a DEMOCRAT policy.

The planning, funding, training, and placing the Key terrorist in the USA for 9-11 occurred while WJC was in office. The 9-11 terror attack may have never happened if WJC had authorized the ASSASSINATION of OBL.....

Bush Jr and the UK turned over the 'Nation Building' in Afghanistan to the UN and 42 other countries during Dec 2001.

The WMD in Iraq was being pushed by the WJC Administration, prior to Bush Jr being elected.

Also it was the Republicans that were pushing to use Iraq oil to pay for Iraq II. The Democrats were the ones fighting this and crying for time-tables.

Yea if WJC had done almost anything except receiving BJ's in the Oval Office. The USA would have not had this economic collapse.

At least when those evil, rich rebulicans that are just trying to wring all they can from the middle class (sarcasm here) - you had a job.

Porkbver: sorry about the comas!

AC Robertson: Bush was the President" He did not put the two wars in his budget, the country was borrowing two hundred million per day from Japan, and China to try head off a recession, and to keep people working surely he knew how bad things were getting, and in the eight years he was in office many jobs were going to other countries, he signed the Tarp, and spent half the money be for he left office about 750,000 people lost there jobs the first month obama was in things are bad but it cannot all be blamed on this President!!!

SMALL BUSINESS FOR McCain: THE JOBS WE HAD WENT TO OTHER COUNTRIES, THE TRICKLE DOWN, WENT TO WORKERS IN OTHER COUNTRIES!!!just trying to wring all they can from American workers is correct not sarcasm!!!

Don't you get it? Liberalism controls DC and liberals are those who are wringing money form American workers - apparently, this hasn't trickled down to your income level/tax bracket...yet...

Obama's plan has been in-residence for nineteen months and he's doing a damned good job of ensuring that unemployment rates stay in the stratosphere

Um, unemployment lasts for 99 weeks, not 99 months.

If you can't afford your mortgage, you fall behind and go into foreclosure like 2 million other Americans.

If you bought a new car but can't afford the payment and the gas and the insurance, you are just stupid.

I'm sorry the banks won't give you a student loan, tell your kid to get a job and work his/her way thru college. I know, I know, the job market sucks, but it can be done.

It's highly unlikely that you got laid off from a gov job. If you did, it will only be temporary. If it remains permanent, I'm sure you're entitled to some form of compensation thru the union.

Yes, the US is well on the way to losing their AAA credit rating.

Fred...

Perfectly stated.

What will Barry do when there is no more wealth to redistribute to the downtrodden?

Handgunner, he will fly away on AF1, back to Kenya.......with his finger in the air

Traben
Oh my God! arh arh arh

What will Barry do when there is no more wealth to redistribute to the downtrodden?

He'll write a book about how hard it was to work with the republicans that will be a best seller among the left, make a fortune off it and froget all about sharing the wealth.

dekunst---you've been drinking waaaay too much Obama kool-aid!

"Single Payer" health care.

Yeah. that's when the last person in America that actually works has to pay ALL the taxes.

You are right. Bashing and name calling doesn't solve problems.

However, the fact is that the Obama, Pelosi, Reid plans for running the government have not been effective. A lot of money has been funnelled down the political rat hole.

Obama had a strategy developed by his group of academics for fixing the economy. The money was spent for political purposes, and did not generate jobs as promised.

For that reason, we need to make a change.

Throwing good money after bad has NEVER worked and it's not going to work now. That's what the Dem Congress always does and the Repubs do all too often.

In a hole? Stop digging.

Mike B:

your missing the point also... A lot of people here voted for Nobama the Clown. held fast to their convictions, only to be let down time after time, with lies and false promise, 1 after another. The people i mostly blame for letting the tard in chief getting elected, is the media, for selling out to the highest bidder, and the dem's for covering up whatever they could that came out that was bad news about him during his campain for president.

Even tho he had been spending enough time as it is, campaining for his fellow supporting dem's (time that could be spent learning more about economics), and enough time to take credit, where credit IS NOT DUE, i like others feel perhaps his policies, what he thinks our country needs, and so on, is not what it is going to take to make things work.

You see, this is America, still the land of the free, home of the brave, even tho we may look like we are in the deep sh!t of hell, we still have more than enough of those who can still think for themselves, and act if needed to. 1 year, you are also mistaken, the Clown is in for a total of 4, with 1 1/2 to go. I really dont think he will be re-elected, not when the time comes. Lies, deciet, selling our country out, all pay a price when the election rolls around. Best part is, being in America, we can call Nobama the Clown, and his band of thieves whatever name fits to best describe, and not end up in prison for it, like in other countries.

Please don't wait until 2012.

Start this November.

It's actually fascism buddy.

Socialism implies that everyone is benefitting and the redistribution of wealth and power is being spread around to everyone fairly equally based on the individual's contributional value to society. You and I both know that that is not what has been going on.

The big corporations lobby the government to get what they want. The politicians are all easily persuaded (bought) by these corpoations and lobbyists. The politicians on both sides of the aisle have been completely corrupted by this now decades long status quo. The only real benefactors to the bailouts and stimuli so far have been BIG BUSINESS.

What's been going on since early 2008 is fascism by every dictionary's definition of the word.

It is fascism, plain and simple.

All I'm saying is don't just be parroting looney Beck and Limbaugh.

They don't want to call Obama fascist because that would imply he isn't quite the hard left leaning communist liberal they want to paint him as. It would actually imply he's centrist, if not conservative on economic policy because fascism is a far right wing philosophy. Of course, I think that has everything to do with the Big Shot Wall Street Insiders Obama hired on to runs things like the Department of the Treasury (his greatest single mistake so far).

jp I see your point...kind of.....but the bailouts are a nice quiet shift towards socialism. The end result being....with all the strings attached the government will eventually own all of these companies. At that point the redistribution would begin. Probably not right away....but eventually once they did this quietly and largely enough. It is erosion from within.

Joe,

Good post!

You really nailed one issue there. Trying to run a war without hurting people is impossible and has cost us untold lives and billions upon billions of dollars. Perhaps the most insane thing I've heard during these conflicts was telling people in a town to get out because we were going to attack - as if the people we were after were just going to stay there and get themselves blown to pieces while the civilians left.

I hate the concept of war, but at the same time I am realistic enough to understand that it is sometimes considered to be necessary. But, if you are going to do it - at least do it right. Sending our soldiers onto the battlefield and telling them not to shoot until they are already in great peril is simply asking too much.

Oh, November, please hurry! I can't TAKE it any more.