Obama stimulus is failed

[The Rabbi]

Once again job numbers are out. The results are dismal. We now have 9.1% unemployment, not counting those who have given up. Economists expected job creation to be 160k. We got just 54k. Manufacturing lost jobs for the first time in 7 months.
This isn't a recovery. IN a recovery jobs are stable, overtime increases, temporary work increases and then permanent employment increases. We are seeing continued job losses.
So the promise of Obama's stimulus to add however many jobs to the economy is a lie. It is a total failure.
In a British style parliamentary system they would stage a no-confidence vote in Obama. They would win.

 

[boedicca]

Obama's policies, including the Stimulus, have resulted in the worst economic recovery in past century.

If we'd had a proper mix of low taxes, reasonable regulation, restrained government spending and leadership which instilled trust that the policies would remain in place, the private sector would be creating jobs.

Instead, Obama has fulfilled Ayn Rand's predictions. And it's going to get much worse before it gets better.

 

[The Rabbi]

Obama's policies, including the Stimulus, have resulted in the worst economic recovery in past century.

If we'd had a proper mix of low taxes, reasonable regulation, restrained government spending and leadership which instilled trust that the policies would remain in place, the private sector would be creating jobs.

Instead, Obama has fulfilled Ayn Rand's predictions. And it's going to get much worse before it gets better.

We experience far more severe job loss in the BUsh recession of 2001. But job creation was strong enough that UE never rose above 7%.
Yes, it will get worse. We are heading for double dip territory.

 

[boedicca]

We never really had a recovery.

The stats were cooked by programs which have deferred the ultimate and much needed full correction of the housing market, and the pull forward of demand with Cash for Clunkers, as well as the wasted Stimulus funds used to prop up state and local government union employment.

These delays just make the ultimate correct worse as we now have $5T more debt on the balance sheet.

 

[eflatminor]

Just to clarify, it's not OBAMA's stimulus that failed. ALL stimulus fails...unless of course you're one of connected few to be handed my tax dollars. Keynes was wrong. Friedman/Hayek got it right.

 

[Zander]

The saddest part of the Keynesian nightmare we are living through, is that the FED is seriously considering another stimulus. They think if they just keep throwing money at the problem, it will solve itself.
Did Bernanke Just Admit That QE3 Is Coming?
http://www.fxstreet.com/news/forex-news/article.aspx?storyid=2c6e8bf8-bc7a-488a-b385-03362c73f199

 

[HUGGY]

Once again job numbers are out. The results are dismal. We now have 9.1% unemployment, not counting those who have given up. Economists expected job creation to be 160k. We got just 54k. Manufacturing lost jobs for the first time in 7 months.
This isn't a recovery. IN a recovery jobs are stable, overtime increases, temporary work increases and then permanent employment increases. We are seeing continued job losses.
So the promise of Obama's stimulus to add however many jobs to the economy is a lie. It is a total failure.
In a British style parliamentary system they would stage a no-confidence vote in Obama. They would win.

Ah...but the GOP strategy to do nothing hoping that a failed country will make Obama look bad has succeeded.

 

[boedicca]

Bernanke is the most dangerous person to our economy right now.

He's destroying the dollar.

 

[The Rabbi]

Just to clarify, it's not OBAMA's stimulus that failed. ALL stimulus fails...unless of course you're one of connected few to be handed my tax dollars.

Thats true. IN 2007 or so BUsh had a stimulus program pushed by PElosi. IT was also a gross failure.

 

[boedicca]

Once again job numbers are out. The results are dismal. We now have 9.1% unemployment, not counting those who have given up. Economists expected job creation to be 160k. We got just 54k. Manufacturing lost jobs for the first time in 7 months.
This isn't a recovery. IN a recovery jobs are stable, overtime increases, temporary work increases and then permanent employment increases. We are seeing continued job losses.
So the promise of Obama's stimulus to add however many jobs to the economy is a lie. It is a total failure.
In a British style parliamentary system they would stage a no-confidence vote in Obama. They would win.

Ah...but the GOP strategy to do nothing hoping that a failed country will make Obama look bad has succeeded.

Bald. R. Dash.

The GOP wants to cut spending now and reform entitlement programs so they don't crater the economy. Obama and the Dems have offered no plans of their own (they won't even pass a frelling budget)...their entire strategy is to scare senior citizens and public union employees.

 

[Zander]

Once again job numbers are out. The results are dismal. We now have 9.1% unemployment, not counting those who have given up. Economists expected job creation to be 160k. We got just 54k. Manufacturing lost jobs for the first time in 7 months.
This isn't a recovery. IN a recovery jobs are stable, overtime increases, temporary work increases and then permanent employment increases. We are seeing continued job losses.
So the promise of Obama's stimulus to add however many jobs to the economy is a lie. It is a total failure.
In a British style parliamentary system they would stage a no-confidence vote in Obama. They would win.

Ah...but the GOP strategy to do nothing hoping that a failed country will make Obama look bad has succeeded.

I can't speak for all conservatives Huggy, but I would have loved to see the economy come roaring back and sincerely wish the policies and programs implemented by Team Obama had worked. I care far more about my countrymen than I do about politics.

But they didn't work. They have failed, and failed miserably. We have nothing to show for it but a $5T larger debt, a weakened dollar, and our citizens have an increased dependency on government.

It is time to go the other direction. Obama can save his Presidency if he makes a course correction by embracing spending cuts, entitlement reform, and tax policy simplification. He needs to abandon the Keynesian policies that have been proven failures everywhere they have been implemented.

 

[iamwhatiseem]

What worries me is a mid summer crash. It is being well predicted by some pretty damn solid economist - not the idiotic drival from the media house talking heads however.
If this happens, it means the earning months for many (Aug-November) will not come to fruition. You think you see bad unemployment now? Many industries (including mine) MUST have these earning months to avoid a year in the red.

 

[eflatminor]

Once again job numbers are out. The results are dismal. We now have 9.1% unemployment, not counting those who have given up. Economists expected job creation to be 160k. We got just 54k. Manufacturing lost jobs for the first time in 7 months.
This isn't a recovery. IN a recovery jobs are stable, overtime increases, temporary work increases and then permanent employment increases. We are seeing continued job losses.
So the promise of Obama's stimulus to add however many jobs to the economy is a lie. It is a total failure.
In a British style parliamentary system they would stage a no-confidence vote in Obama. They would win.

Ah...but the GOP strategy to do nothing hoping that a failed country will make Obama look bad has succeeded.

Can we therefore look forward to your support in ousting establishment Republicans with those politicians that reject stimulus?

 

[HUGGY]

Once again job numbers are out. The results are dismal. We now have 9.1% unemployment, not counting those who have given up. Economists expected job creation to be 160k. We got just 54k. Manufacturing lost jobs for the first time in 7 months.
This isn't a recovery. IN a recovery jobs are stable, overtime increases, temporary work increases and then permanent employment increases. We are seeing continued job losses.
So the promise of Obama's stimulus to add however many jobs to the economy is a lie. It is a total failure.
In a British style parliamentary system they would stage a no-confidence vote in Obama. They would win.

Ah...but the GOP strategy to do nothing hoping that a failed country will make Obama look bad has succeeded.

I can't speak for all conservatives Huggy, but I would have loved to see the economy come roaring back and sincerely wish the policies and programs implemented by Team Obama had worked. I care far more about my countrymen than I do about politics.

But they didn't work. They have failed, and failed miserably. We have nothing to show for it but a $5T larger debt, a weakened dollar, and our citizens have an increased dependency on government.

It is time to go the other direction. Obama can save his Presidency if he makes a course correction by embracing spending cuts, entitlement reform, and tax policy simplification. He needs to abandon the Keynesian policies that have been proven failures everywhere they have been implemented.

I respectfully disagree. I suggest you step outside of the echo chamber and try to imagine if nothing had been done to shore up the financial crisis Obama and the country was heading into as he took office.

Try to consider what this country would be like today if all of the banks had failed. Consider what the world financial sector would be like if all major banks and lending institutions as well as their insurance organizations had failed. Try and consider what the U S manufacturing sector would be like if GM and Chrysler and all of their suppliers had gone bankrupt.

I believe that you and many have no idea what REAL TOTAL FAILURE looks like. I get it that we are still suffering pain and hardship. I get it that the country is getting weary of the time it is taking to put us back on a course of prosperity. I also get it that much of what happened was built on a bubble that collapsed in the value of housing just as the lending apparatus self imploded. If one is being fair and honest the country was kidding itself on the true value of equity and borrowing against a false net worth for many years based on the totally unrealistic assumption that property values would continue to rise.

I consider you a smart guy. I get it that you would like to have better opportunities. Look at it this way. You still have opportunities that have not evaporated in the wake of the greatest financial fraud ever committed in history. It could be unbelievably worse.

 

[eflatminor]

Ah...but the GOP strategy to do nothing hoping that a failed country will make Obama look bad has succeeded.

I can't speak for all conservatives Huggy, but I would have loved to see the economy come roaring back and sincerely wish the policies and programs implemented by Team Obama had worked. I care far more about my countrymen than I do about politics.

But they didn't work. They have failed, and failed miserably. We have nothing to show for it but a $5T larger debt, a weakened dollar, and our citizens have an increased dependency on government.

It is time to go the other direction. Obama can save his Presidency if he makes a course correction by embracing spending cuts, entitlement reform, and tax policy simplification. He needs to abandon the Keynesian policies that have been proven failures everywhere they have been implemented.

I respectfully disagree. I suggest you step outside of the echo chamber and try to imagine if nothing had been done to shore up the financial crisis Obama and the country was heading into as he took office.

Try to consider what this country would be like today if all of the banks had failed. Consider what the world financial sector would be like if all major banks and lending institutions as well as their insurance organizations had failed. Try and consider what the U S manufacturing sector would be like if GM and Chrysler and all of their suppliers had gone bankrupt.

I believe that you and many have no idea what REAL TOTAL FAILURE looks like. I get it that we are still suffering pain and hardship. I get it that the country is getting weary of the time it is taking to put us back on a course of prosperity. I also get it that much of what happened was built on a bubble that collapsed in the value of housing just as the lending apparatus self imploded. If one is being fair and honest the country was kidding itself on the true value of equity and borrowing against a false net worth for many years based on the totally unrealistic assumption that property values would continue to rise.

I consider you a smart guy. I get it that you would like to have better opportunities. Look at it this way. You still have opportunities that have not evaporated in the wake of the greatest financial fraud ever committed in history. It could be unbelievably worse.

Strongly disagree. You have ZERO evidence that "all banks would have failed". It would NOT have happened. If Bear Sterns had been allowed to fold, I guarantee you the other banks would have made whatever changes were necessary to get their books in order. Whoever did fail would soon be replaced bu a new or smarter competitor. Similarly, if GM had gone under, Ford and other manufacturers would sell more cars. Hell, we might of actually had a NEW entrant into the auto market...wouldn't that be refreshing? Further, we did NOT need to bail out AIG. The other insurance companies would have picked up their market share, albeit with with sustainable rates and terms.

You want evidence of how this works? Look to the massive economic downturn of 1920. We don't think of it today as a "great depression" because instead of bailout and stimulus, the government at that time did two things: they cut spending in half and taxes in half. Sure some companies when under, big ones. But within a very short period of time, the economy rebounded and we had the roaring twenties.

Bail out and stimulus may delay the pain but they only make things worse when the chickens come home to roost.

 

[Soggy in NOLA]

Just to clarify, it's not OBAMA's stimulus that failed. ALL stimulus fails...unless of course you're one of connected few to be handed my tax dollars. Keynes was wrong. Friedman/Hayek got it right.

And still... dunkopfs like Krugman are clamoring for more stimulus.

 

[Truthmatters]

Notice the economy tanked again after the Republicans took the house.

 

[The Rabbi]

Notice the economy tanked again after the Republicans took the house.

Actually the economy tanked after Obama ordered Osama killed. This is god's revenge on him.

 

[Ame®icano]

Notice the economy tanked again after the Republicans took the house.

Actually the economy tanked after Obama ordered Osama killed. This is god's revenge on him.

Tanked again? No way!

Btw, when economy picked up anyways?

 

[eflatminor]

Notice the economy tanked again after the Republicans took the house.

Notice the economy tanked again after my dog decided to shit on the living room floor.

Of course, neither of them engaged in further stimulus spending, which is the point of this tread...but thanks for playing.