Greed, ignorance, hysteria and chaos

[MaggieMae]

The death of global leadership?

GREED:

Companies won't hire until the economy recovers. And the economy won't recover until businesses start hiring. Companies argue they face uncertainties and government shouldn't add to them. If there's so much uncertainty, why did corporate profits hit an all-time high of $1.37 trillion in the first quarter?

What do the 20 million people without jobs do in the meantime, as companies sit on their piles of cash?

IGNORANCE:

There really are no simple black or white solutions (metaphorically) that can immediately remedy the vast ideological differences between the left and the right over a myriad of problem issues, so pretending there will be some grand solutions if one party or the other is in control is irrational at best and downright stupid at worst.

HYSTERIA:

Just because everything isn't going YOUR way, throwing hissy fits, going on malevolent vendettas, gathering weapons and whipping up frenzies which results in mob mentality only postpones real solutions.

CHAOS:

Time doesn't stand still. The same problems become the same problems only bigger while political battles rage on, day after day, which does nothing but create gridlock amid the chaos.


In my opinion. As all the shouting makes its way into 24/7 news cycles, other countries see what's going on through the same venues, and the image of the United States as a strong and compromising democracy, always able to overcome internal divergences (and looked upon to take the lead for the rest of the world to emulate) ultimately will be reversed and we will be seen as weak and vulnerable to those who would love to take our place at the top.

 

[american chaos]

You've Called?

 

[boedicca]

Here's what Maggie doesn't grok:

Mega Public Corporations are often Big Government Cronies. The reporting of their profits reflects the strength of DC-Wall St-Board Room Cronyism - not the health of Main Street.

Small businesses create over half of the jobs in the economy. These are the ones that are hurting due to massive government intrusion and tax hikes. They aren't hiring. Unemployment reflects this.

More of the same Big Government Cronyism will make things worse.

 

[MaggieMae]

Here's what Maggie doesn't grok:

Mega Public Corporations are often Big Government Cronies. The reporting of their profits reflects the strength of DC-Wall St-Board Room Cronyism - not the health of Main Street.

Small businesses create over half of the jobs in the economy. These are the ones that are hurting due to massive government intrusion and tax hikes. They aren't hiring. Unemployment reflects this.

More of the same Big Government Cronyism will make things worse.

I "grok" the fact that small businesses need operating capital by way of loans and/or letters of credit, which Big Banks and investment houses are not willing to part with. Sure, they'll give out a high interest credit CARD, but not a low-interest business loan. I "grok" the fact that GREED continues.

Banks happy to hand credit cards but not loans to small biz - Jul. 14, 2010
Lending to small businesses contracted by $40 billion for the first quarter of 2010 as compared to 2008. Only a third to half of small businesses were able to secure a loan or line of credit in 2009. And Small Business Administration lending all but disappeared in June, thanks to the end of a popular stimulus program. Because of the dry-up, Bernanke said small businesses "have had difficulty obtaining the credit that they need to expand and, in some cases, even to continue operating."

But while banks have closed the window for small business loans, they've happily opened the back door to any business that wants that money in the form of a credit card loan.

 

[boedicca]

Nyah.

You don't grok. You couldn't grok if your life depended on it.

 

[MaggieMae]

Nyah.

You don't grok. You couldn't grok if your life depended on it.

What makes you think I'd want to sound like you? Do you do other frog sounds?

 

[Care4all]

pretty sad that the big bailed out banks won't help the small businesses with small, low interest loans to grow their businesses....I thought the WHOLE reason for the big banks to get a bail out was to KEEP our small businesses with an easy credit line/loan line???

 

[boedicca]

The real issue is that small business don't want to borrow money right now. Why take on more debt when there aren't enough customers to justify the investment?

 

[boedicca]

Nyah.

You don't grok. You couldn't grok if your life depended on it.

What makes you think I'd want to sound like you? Do you do other frog sounds?

Thus proving my point. You don't grok Grok.

 

[Care4all]

The real issue is that small business don't want to borrow money right now. Why take on more debt when there aren't enough customers to justify the investment?

ya think that's what it is? You don't think that high interest loans via credit cards verses a low interest loan for business, is holding some of these small businesses back?

 

[boedicca]

It's certainly holding some back, but that is not the major cause of lack of job growth in the small business.

It's lack of economic growth and customers. When a small business sees its revenue flatline or shrink, there is absolutely no reason to take a loan out for expansion.

 

[MaggieMae]

pretty sad that the big bailed out banks won't help the small businesses with small, low interest loans to grow their businesses....I thought the WHOLE reason for the big banks to get a bail out was to KEEP our small businesses with an easy credit line/loan line???

Had anyone known they would have continued their greedy shenanigans, I would have preferred that they had been nationalized and be done with 'em. Bunch of fucking crooks. Trying to play nice with the private sector has proven to be an exercise in futility.

 

[uscitizen]

Not a global issue.
Brazil, Russia, China and India are doing fine.

 

[MaggieMae]

The real issue is that small business don't want to borrow money right now. Why take on more debt when there aren't enough customers to justify the investment?

It isn't a matter of "more" debt. Do you even comprehend half what's provided you by way of sourced information?

Small firms would hire you, if only they could get loans | McClatchy

 

[MaggieMae]

Not a global issue.
Brazil, Russia, China and India are doing fine.

Which goes to my final statement in the OP.

 

[boedicca]

Maggie doesn't even bother to read the articles she links

"Lenders aren't saying we don't want to lend. Lenders are saying we'd like to lend, but loan requests are down, and also the bank regulatory agencies are scrutinizing loans at a much higher level than they have been in the past," said James Ballentine, the senior vice president of government relations for the American Bankers Association. "That, too, is understandable, because you want to make sure that all guidelines are being followed and the collateral is there, and that's a problem for many businesses as well."

Loan requests are down. That's perfectly consistent with what I said earlier in the thread.

 

[uscitizen]

Considering the population of China and india I would guess that the majority of the worlds prople are not suffering in this recession.

 

[MaggieMae]

Maggie doesn't even bother to read the articles she links

"Lenders aren't saying we don't want to lend. Lenders are saying we'd like to lend, but loan requests are down, and also the bank regulatory agencies are scrutinizing loans at a much higher level than they have been in the past," said James Ballentine, the senior vice president of government relations for the American Bankers Association. "That, too, is understandable, because you want to make sure that all guidelines are being followed and the collateral is there, and that's a problem for many businesses as well."

Loan requests are down. That's perfectly consistent with what I said earlier in the thread.

A lobbying group. What do you expect them to say?

 

[Darkwind]

I find it amusing that when speaking of greed, it is always Businesses that are greedy. Never government.

It speaks volumes toward the mindset of the person who sees greed only in one direction.

 

[Skull Pilot]

Here's what Maggie doesn't grok:

Mega Public Corporations are often Big Government Cronies. The reporting of their profits reflects the strength of DC-Wall St-Board Room Cronyism - not the health of Main Street.

Small businesses create over half of the jobs in the economy. These are the ones that are hurting due to massive government intrusion and tax hikes. They aren't hiring. Unemployment reflects this.

More of the same Big Government Cronyism will make things worse.

I "grok" the fact that small businesses need operating capital by way of loans and/or letters of credit, which Big Banks and investment houses are not willing to part with. Sure, they'll give out a high interest credit CARD, but not a low-interest business loan. I "grok" the fact that GREED continues.

Banks happy to hand credit cards but not loans to small biz - Jul. 14, 2010
Lending to small businesses contracted by $40 billion for the first quarter of 2010 as compared to 2008. Only a third to half of small businesses were able to secure a loan or line of credit in 2009. And Small Business Administration lending all but disappeared in June, thanks to the end of a popular stimulus program. Because of the dry-up, Bernanke said small businesses "have had difficulty obtaining the credit that they need to expand and, in some cases, even to continue operating."

But while banks have closed the window for small business loans, they've happily opened the back door to any business that wants that money in the form of a credit card loan.

Why does everyone assume small businesses need to constantly borrow money for operating capital.?

When we opened, we leased all our equipment with a 4 or 5 year one dollar buy out at the end.

Vendors gave us all kinds of delayed billing and other incentives. We had 50K in cash saved for our initial expenses but we barely touched that because the business was self sustaining after a couple months.

If you as a business owner constantly need to borrow money, you're doing something wrong.