Profits Are Booming. Why Aren’t Jobs?

[Wiseacre]

Making a profit is what American businesses do best. It the probability for profit outweighs the possibilitiies for losing money, they ain't going to take the chance. Especially in uncertain times like we have now. And right now there are a whole host of reasons why employers aren't taking the risk and new startups are not being financed. Don't know why this should be a surprise to anybody by now, the business climate in this country that the Obama Admin has created absolutely stinks. And will continue to do so until he is out of office.

 

[boedicca]

We are living through the failed policies of the last 10 years.

We ignored the Tech Bubble, with the dumbasses who run the economy saying "There is no bubble. Markets don't have bubbles. And if they do, how do you identify them? You can only respond to them. The market knows best!" Well, FFS, Cisco trading at 117x earnings is definitely a fricking bubble, but Greenspan - aka The Worst American Central Banker of All Time - ignored it and in fact cheered it on.

So when the Tech Bubble collapsed, the government embarked in the greatest peacetime stimulus ever up to that time, with massive fiscal and monetary stimulus costing the Treasury trillions of dollars in lost revenues and the Fed keeping rates at 1%. What did that get us? A Housing Bubble! Bernanke said "There is no housing bubble!" By some estimates, up to half the 8 million jobs created in the last decade were somehow related to housing, finance and the mortgage industries. In other words, without the Housing Bubble, up to 4 million jobs would never have been created. 4 million!

So when the Housing Bubble collapsed, what did we do? We embarked on an even greater stimulus than a few years prior, with interest rates cut to zero, trillion dollar deficits, big new programs and extensions of budget-busting tax cuts. Massive distortions to the financial markets and the economy await down the road.

I get a kick out of the clueless partisan ideologues spewing their nonsense. "It's Bush's fault!" "It's Obama's fault!" FFS, what a black hole of ignorance. The US government has essentially been running the same policies for the past decade, with fiscal deficits just growing bigger and bigger, and monetary policy getting worse and worse. Yet, the clueless party cheerleaders keep repeating the same garbage "Elect my guy! The other guy is evil!"

Yeah, like it makes a difference.

The policies have been going on longer than a decade. This Big Government Cronyism extends back to Wilson era.

 

[iamwhatiseem]

We are living through the failed policies of the last 10 years.

We ignored the Tech Bubble, with the dumbasses who run the economy saying "There is no bubble. Markets don't have bubbles. And if they do, how do you identify them? You can only respond to them. The market knows best!" Well, FFS, Cisco trading at 117x earnings is definitely a fricking bubble, but Greenspan - aka The Worst American Central Banker of All Time - ignored it and in fact cheered it on.

So when the Tech Bubble collapsed, the government embarked in the greatest peacetime stimulus ever up to that time, with massive fiscal and monetary stimulus costing the Treasury trillions of dollars in lost revenues and the Fed keeping rates at 1%. What did that get us? A Housing Bubble! Bernanke said "There is no housing bubble!" By some estimates, up to half the 8 million jobs created in the last decade were somehow related to housing, finance and the mortgage industries. In other words, without the Housing Bubble, up to 4 million jobs would never have been created. 4 million!

So when the Housing Bubble collapsed, what did we do? We embarked on an even greater stimulus than a few years prior, with interest rates cut to zero, trillion dollar deficits, big new programs and extensions of budget-busting tax cuts. Massive distortions to the financial markets and the economy await down the road.

I get a kick out of the clueless partisan ideologues spewing their nonsense. "It's Bush's fault!" "It's Obama's fault!" FFS, what a black hole of ignorance. The US government has essentially been running the same policies for the past decade, with fiscal deficits just growing bigger and bigger, and monetary policy getting worse and worse. Yet, the clueless party cheerleaders keep repeating the same garbage "Elect my guy! The other guy is evil!"

Yeah, like it makes a difference.

This needs to be framed on the walls of practically every household in America. Starting with USMB members.
(my emphasis)

 

[iamwhatiseem]

We are living through the failed policies of the last 10 years.

We ignored the Tech Bubble, with the dumbasses who run the economy saying "There is no bubble. Markets don't have bubbles. And if they do, how do you identify them? You can only respond to them. The market knows best!" Well, FFS, Cisco trading at 117x earnings is definitely a fricking bubble, but Greenspan - aka The Worst American Central Banker of All Time - ignored it and in fact cheered it on.

So when the Tech Bubble collapsed, the government embarked in the greatest peacetime stimulus ever up to that time, with massive fiscal and monetary stimulus costing the Treasury trillions of dollars in lost revenues and the Fed keeping rates at 1%. What did that get us? A Housing Bubble! Bernanke said "There is no housing bubble!" By some estimates, up to half the 8 million jobs created in the last decade were somehow related to housing, finance and the mortgage industries. In other words, without the Housing Bubble, up to 4 million jobs would never have been created. 4 million!

So when the Housing Bubble collapsed, what did we do? We embarked on an even greater stimulus than a few years prior, with interest rates cut to zero, trillion dollar deficits, big new programs and extensions of budget-busting tax cuts. Massive distortions to the financial markets and the economy await down the road.

I get a kick out of the clueless partisan ideologues spewing their nonsense. "It's Bush's fault!" "It's Obama's fault!" FFS, what a black hole of ignorance. The US government has essentially been running the same policies for the past decade, with fiscal deficits just growing bigger and bigger, and monetary policy getting worse and worse. Yet, the clueless party cheerleaders keep repeating the same garbage "Elect my guy! The other guy is evil!"

Yeah, like it makes a difference.

The policies have been going on longer than a decade. This Big Government Cronyism extends back to Wilson era.

Agreed - this is the only thing that is not 110% correct in Toro's post.
The primary asinine economic policies we have now, I would argue, started in the 1980's.
Big brother government entitlements really ramped up in the early 1960's, and went wildly unchecked for over 20 years.

 

[boedicca]

We are living through the failed policies of the last 10 years.

We ignored the Tech Bubble, with the dumbasses who run the economy saying "There is no bubble. Markets don't have bubbles. And if they do, how do you identify them? You can only respond to them. The market knows best!" Well, FFS, Cisco trading at 117x earnings is definitely a fricking bubble, but Greenspan - aka The Worst American Central Banker of All Time - ignored it and in fact cheered it on.

So when the Tech Bubble collapsed, the government embarked in the greatest peacetime stimulus ever up to that time, with massive fiscal and monetary stimulus costing the Treasury trillions of dollars in lost revenues and the Fed keeping rates at 1%. What did that get us? A Housing Bubble! Bernanke said "There is no housing bubble!" By some estimates, up to half the 8 million jobs created in the last decade were somehow related to housing, finance and the mortgage industries. In other words, without the Housing Bubble, up to 4 million jobs would never have been created. 4 million!

So when the Housing Bubble collapsed, what did we do? We embarked on an even greater stimulus than a few years prior, with interest rates cut to zero, trillion dollar deficits, big new programs and extensions of budget-busting tax cuts. Massive distortions to the financial markets and the economy await down the road.

I get a kick out of the clueless partisan ideologues spewing their nonsense. "It's Bush's fault!" "It's Obama's fault!" FFS, what a black hole of ignorance. The US government has essentially been running the same policies for the past decade, with fiscal deficits just growing bigger and bigger, and monetary policy getting worse and worse. Yet, the clueless party cheerleaders keep repeating the same garbage "Elect my guy! The other guy is evil!"

Yeah, like it makes a difference.

The policies have been going on longer than a decade. This Big Government Cronyism extends back to Wilson era.

Agreed - this is the only thing that is not 110% correct in Toro's post.
The primary asinine economic policies we have now, I would argue, started in the 1980's.
Big brother government entitlements really ramped up in the early 1960's, and went wildly unchecked for over 20 years.

You haven't gone back far enough. Wilson is pretty much at Ground Zero of this failed experiment.

 

[Mr Natural]

Because the future is waaay to uncertain to spend money now...at the same time companies are still making up for months of negative margins.

That sounds like an excuse.

When is the future ever certain?

To put it another way, if the future was certain, we'd all be millionaires.

 

[boedicca]

Because the future is waaay to uncertain to spend money now...at the same time companies are still making up for months of negative margins.

That sounds like an excuse.

When is the future ever certain?

To put it another way, if the future was certain, we'd all be millionaires.

As you appear to think Investing is Gambling, you are too ignorant to understand why people choose to engage in the former.

 

[Mr Natural]

Because the future is waaay to uncertain to spend money now...at the same time companies are still making up for months of negative margins.

That sounds like an excuse.

When is the future ever certain?

To put it another way, if the future was certain, we'd all be millionaires.

As you appear to think Investing is Gambling, you are too ignorant to understand why people choose to engage in the former.

Don't kid yourself, toots. there's always an element of gambling in any investment.

That's why they call it risk.

 

[The T]

We need Paul Krugman to tell us we need another oh, 2, 3, 6 trillion in Stimulus

And extend the Credit Card without appropriate cuts...