Job Growth: Better then expected in October.

[Sallow]

Sallow is historically and economically illiterate.

Bush did not create Fannie Mae and Freddie Mac, the ground zero of the financial mess which led to the financial fracas.

Didn't create? Well no. Foster and excaserbate? Very much so. Clinton got rid of Glass Stegall, true..but it was an effort to quell Republican/Banker's fretting about competiting with European and Asian banks. Was it a dumb move? Probably..but given there were still well funded regulatory agencies it was managable. President Bush should have reinstated it. He didn't. Not only that he defunded regulatory agencies and laxed regulations. This allowed financial groups..who typically don't make loans..to start doing so. Fannie Mae and Freddie Mac..which became part of this weird culture of using to government money to fund and protect private risk taking became overloaded with bad debt. They don't have the fiduciary responsiblity to vet loans..that would fall upon the lenders. And being such and "economic" expert you'd know that..

Or maybe not.

Hence the bullshit you keep flinging..is something you either know nothing about..or willfully spread crapola.

 

[RoccoR]

Sallow, boedicca, et al,

There is no "one thing" or "one person" that caused these events. No one decision, or handful of decisions would have made a difference.

They don't have the fiduciary responsiblity to vet loans..that would fall upon the lenders. And being such and "economic" expert you'd know that.
... ... ...
Hence the bullshit you keep flinging..is something you either know nothing about..or willfully spread crapola.

(COMMENT)

Remember, business and political parties are not patriotic. They owe their allegiance to the "shareholder" and not the people of this nation.

If Business, Wall Street, etc, think that they will gain a better profit by exporting production, even if it cost a 10% unemployment rate, they will act in the best interest of the shareholder --- and they will influence legislation to maximize the profit to the shareholder. Profits to the shareholder are an imperative --- NOT! employment and domestic industrial and production capacity (jobs). If we were at 100% employment, with little or no underemployment (college grad's flipping hamburgers), if we had a national program that fostered "competitive advantage" for domestic business, industry and manufacturing, none of this would matter. The pull on social benefits would be marginal, healthcare wouldn't be an issue, and revenue would be flowing to local and state government for services. People would be able to make mortgage payments and the standard of living would be on the rise. There would be grant programs for college students and jobs for them when they graduated.

But that is not the American way. The American Way is to maximize the wealth of the shareholder no matter what the cost to the taxpayer, the citizen or the nation. We teach this in business school.

Don't try to blame it on any given political party, or Administration. The President and the Republican/Democratic Parties don't care about the nation. They are Capitalistic and work in their own best interest. The weaknesses we see in our nation are a direct result of what we demanded as a people. We demanded that we have a "unrestrained free market" system and allow the various financial, industrial and manufacturing industries to do anything they want --- without regard to the unintended consequences it will have on the people. None of the institution we bailed-out are patriotic. They act to maximize the profits of the shareholder. And if that means exporting your job tomorrow, they do it and not even shed a tear. Whether you contribute to the general revenue or the economy is not their problem. And when everyone believes like that, you get an economy like you have today.

It is that simple - no rocket science.

The reason that we are not graduating as many scientists and engineers today, it that there are no jobs for them. Who should be surprised?

There are many, many, ways to turn this around. But you are not going to find the leadership in either Washington or either political party.

: Listen, I'm a politician which means I'm a cheat and a liar, and when I'm not kissing babies I'm stealing their lollipops. But it also means I keep my options open.

Most Respectfully,
R

 

[Avorysuds]

Obama sucked the oxygen out of the private sector by redistributing income from it to government expansion. That's just a big bunch of transfer payments, not growth creating investment.

Obama cut taxes. In fact, the stimulus bill that Republitarians so roundly condemn included almost 400B in tax cuts.

cuts.

Buy a blender, or a car! Get a toaster or a refrigerator for half the cost after your very own Obama tax credit!

Oh I forgot… Hire more employees for a tax credit when revenues from lake of customer spending is down… man, it’s like this intellectual genius thought of everything…

Credits...

I know Mr. Smartypants Obama says cuts/credits in the same sentence to confuse people but I know you were too smart to be caught in that lie right?

 

[rdean]

Sallow is historically and economically illiterate.

Bush did not create Fannie Mae and Freddie Mac, the ground zero of the financial mess which led to the financial fracas.

how did two firms that couldn't buy the most toxic subprimes, two firms that saw a steep decline in their subprime holding between 2001 and 2006 as they got chased out of the market for only holding conforming loans, cause the financial mess?

By enabling slack lending standards overall.

Of course, the new federal standards couldn’t just apply to minorities. If they could pay back loans under these terms, then so could the majority of loan applicants. Quickly, in other words, these became the new standards in the industry. In 1999, the New York Times reported that Fannie Mae and Freddie Mac were easing credit requirements for mortgages it purchased from lenders, and as the housing market boomed, banks embraced these new standards with a vengeance. Between 2004 and 2007, Fannie Mae and Freddie Mac became the biggest purchasers of subprime mortgages from all kinds of applicants, white and minority, and most of these loans were based on the lending standards promoted by the government.


RealClearMarkets - Articles - The Long Road to Slack Lending Standards

Funny how everything always points to the Bush administration. 2001 to 2008. The worst eight years in American history besides the Civil War and two World Wars.

 

[Spoonman]

I get the distinct feeling Republicans want the economy to fail.

Look at all the jobs they helped move to China. Is that part of the evidence? Why do they like China more than the US?

Wrong, moron.

Republicans (and the rest of us who oppose Obamanomics) want the current administration to quit doing things that destroy domestic job creation.

Destroy? you have an odd definition of "destroying" job creation. The economy was destroying 780,000 private sector jobs per month when Obama took office.

It created 158,000 private sector jobs last month and has created about a million in the past year.

Hey look at that. It's almost keeping up with population growth. Sadly unemployment grew slightly in the process too.

 

[Spoonman]

how did two firms that couldn't buy the most toxic subprimes, two firms that saw a steep decline in their subprime holding between 2001 and 2006 as they got chased out of the market for only holding conforming loans, cause the financial mess?

By enabling slack lending standards overall.

Of course, the new federal standards couldn’t just apply to minorities. If they could pay back loans under these terms, then so could the majority of loan applicants. Quickly, in other words, these became the new standards in the industry. In 1999, the New York Times reported that Fannie Mae and Freddie Mac were easing credit requirements for mortgages it purchased from lenders, and as the housing market boomed, banks embraced these new standards with a vengeance. Between 2004 and 2007, Fannie Mae and Freddie Mac became the biggest purchasers of subprime mortgages from all kinds of applicants, white and minority, and most of these loans were based on the lending standards promoted by the government.


RealClearMarkets - Articles - The Long Road to Slack Lending Standards

Funny how everything always points to the Bush administration. 2001 to 2008. The worst eight years in American history besides the Civil War and two World Wars.

Two years of Obama have sucked worse than 8 years of Bush.

 

[boedicca]

The adult population grew by 208K in the same month, so we are another 50K jobs behind just keeping new entrants employed.

 

[Spoonman]

The adult population grew by 208K in the same month, so we are another 50K jobs behind just keeping new entrants employed.

Sounds like a win to a lib.

 

[Avorysuds]

how did two firms that couldn't buy the most toxic subprimes, two firms that saw a steep decline in their subprime holding between 2001 and 2006 as they got chased out of the market for only holding conforming loans, cause the financial mess?

By enabling slack lending standards overall.

Of course, the new federal standards couldn’t just apply to minorities. If they could pay back loans under these terms, then so could the majority of loan applicants. Quickly, in other words, these became the new standards in the industry. In 1999, the New York Times reported that Fannie Mae and Freddie Mac were easing credit requirements for mortgages it purchased from lenders, and as the housing market boomed, banks embraced these new standards with a vengeance. Between 2004 and 2007, Fannie Mae and Freddie Mac became the biggest purchasers of subprime mortgages from all kinds of applicants, white and minority, and most of these loans were based on the lending standards promoted by the government.


RealClearMarkets - Articles - The Long Road to Slack Lending Standards

Funny how everything always points to the Bush administration. 2001 to 2008. The worst eight years in American history besides the Civil War and two World Wars.

Funny how everything always points to the Bush administration. 2001 to 2008. The worst eight years in American history besides the Civil War and two World Wars.[/QUOTE]

I'd point out that 2 years of that was a Dem congress but that can't and won't matter to you...

I'd point out that Obama and that Dem congress have expanded upon many of the "evil" Bush policies but that won't matter to you...

I'd point out that things started getting really bad just after the dems took over Congress and much worse after Obama won as president but that wouldn't matter to you...

You believe that just because UE slowed down that the Dema and Obama saved us... You would never consider that UE was not going to just keep rising at the same rate until we hit 100% UE would you?

It’s just like FDR all over again... Now we all get still sit around for 12 more years while things get slightly worse and slightly better until ww3 comes along to blow everything up so the privet sector can gain worldwide demand for products...

 

[8537]

By enabling slack lending standards overall.

Of course, the new federal standards couldn’t just apply to minorities. If they could pay back loans under these terms, then so could the majority of loan applicants. Quickly, in other words, these became the new standards in the industry. In 1999, the New York Times reported that Fannie Mae and Freddie Mac were easing credit requirements for mortgages it purchased from lenders, and as the housing market boomed, banks embraced these new standards with a vengeance. Between 2004 and 2007, Fannie Mae and Freddie Mac became the biggest purchasers of subprime mortgages from all kinds of applicants, white and minority, and most of these loans were based on the lending standards promoted by the government.


RealClearMarkets - Articles - The Long Road to Slack Lending Standards

FM and FM had more strict standards (conforming rules) than the private sector - that's why they lost half their market share between 2001 and 2006.

The slackest of lending standards were in the private sector.
Have a nice day.

Can't read much can you?

The Boston Fed mandated the loosening of standards and the Fed threatened banks with charter revocation if they didn't go along with it.

I'd wish you a nice day, but I doubt you really grok what that would be.

So...it is your claim that the Boston Fed (not FM or FM, mind you) threatened banks if they didn't loosen their standards, and in response: Nondepository institutions lowered their standards by far more?

That makes perfect sense. right?

 

[8537]

Obama sucked the oxygen out of the private sector by redistributing income from it to government expansion. That's just a big bunch of transfer payments, not growth creating investment.

Obama cut taxes. In fact, the stimulus bill that Republitarians so roundly condemn included almost 400B in tax cuts.

cuts.

Buy a blender, or a car! Get a toaster or a refrigerator for half the cost after your very own Obama tax credit!

Oh I forgot… Hire more employees for a tax credit when revenues from lake of customer spending is down… man, it’s like this intellectual genius thought of everything…

Credits...

I know Mr. Smartypants Obama says cuts/credits in the same sentence to confuse people but I know you were too smart to be caught in that lie right?

The stimulus package included both tax credits and tax cuts.

You're smart enough to know that, right?

 

[NYcarbineer]

And Obama has increased U3 to 9.6% and U6 to 17%.

How Hopey Changey!

Obamanomics = Epic Fail, as the voters judged on Nov. 2nd.

Obama did it? How did HE do that? What did he do, exactly and specifically, that had he not done it,

unemployment would still be at 7.7%?

He wasted $900B+ of on Stimulus Pork.

He abused the TARP program to bail out GM.

He sign ObamaCare which creates a vast new entitlement the country cannot afford.

He has not extended the Bush Tax cuts for everyone.

He did not do anything to reform Fannie Mae and Freddie Mac.

To name a few things.


(Oh, and there is No Budget right now - very telling.)

1. The single biggest item in the stimulus was a 300 billion TAX CUT so you're saying tax cuts kill jobs. lol. The money to for the job creation that the stimulus did in fact produce was borrowed, so it didn't take away from the private sector.

2. The GM bailout was a success.

3. Obamacare is not costing jobs to any degree.

4. The Bush tax cuts have been in place for every day of the Obama administration.

5. Fannie/Freddie reform has nothing to do with this.

 

[Avorysuds]

Obama cut taxes. In fact, the stimulus bill that Republitarians so roundly condemn included almost 400B in tax cuts.

cuts.

Buy a blender, or a car! Get a toaster or a refrigerator for half the cost after your very own Obama tax credit!

Oh I forgot… Hire more employees for a tax credit when revenues from lake of customer spending is down… man, it’s like this intellectual genius thought of everything…

Credits...

I know Mr. Smartypants Obama says cuts/credits in the same sentence to confuse people but I know you were too smart to be caught in that lie right?

The stimulus package included both tax credits and tax cuts.

You're smart enough to know that, right?

Show me the 400 billion in "tax cuts"... You're smart enough to do that, right?

 

[skookerasbil]

Republicans expected to take credit for it:

It was the latest of some stronger-than-expected data on the U.S. economy, including Monday's report showing surprisingly strong growth last month in the U.S. manufacturing sector, and among the last bits of data before Wednesday's expected Federal Reserve announcement on monetary easing.

On Friday, the U.S. government is due to report its monthly jobs data, and the ADP is sometimes used by economists to update expectations for those numbers.

In the ADP data, "you have a net surprise of 60,000 or so, which is a meaningful amount and probably raises expectations at least at little bit for Friday's employment report," said Zach Pandl, economist, Nomura Securities in New York.

Private sector October job growth beats expectations - Yahoo! News

There have been over a million private sector jobs added since January. All the Republicans have been doing is fighting tooth and nail against every bill and policy that Democrats have put up.

They deserve absolutely no credit for this. None.

nobody cares s0n.....................


9.6%








Heres the bottom line for the hyperpartisan left k00ks..........the unemployment rate will not budge upward without approximately 3% growth rate or above.

 

[Sallow]

Republicans expected to take credit for it:

It was the latest of some stronger-than-expected data on the U.S. economy, including Monday's report showing surprisingly strong growth last month in the U.S. manufacturing sector, and among the last bits of data before Wednesday's expected Federal Reserve announcement on monetary easing.

On Friday, the U.S. government is due to report its monthly jobs data, and the ADP is sometimes used by economists to update expectations for those numbers.

In the ADP data, "you have a net surprise of 60,000 or so, which is a meaningful amount and probably raises expectations at least at little bit for Friday's employment report," said Zach Pandl, economist, Nomura Securities in New York.

Private sector October job growth beats expectations - Yahoo! News

There have been over a million private sector jobs added since January. All the Republicans have been doing is fighting tooth and nail against every bill and policy that Democrats have put up.

They deserve absolutely no credit for this. None.

nobody cares s0n.....................


9.6%








Heres the bottom line for the hyperpartisan left k00ks..........the unemployment rate will not budge upward without approximately 3% growth rate or above.

Sorry boyeeee..

The people getting jobs do.

 

[Sallow]

Buy a blender, or a car! Get a toaster or a refrigerator for half the cost after your very own Obama tax credit!

Oh I forgot… Hire more employees for a tax credit when revenues from lake of customer spending is down… man, it’s like this intellectual genius thought of everything…

Credits...

I know Mr. Smartypants Obama says cuts/credits in the same sentence to confuse people but I know you were too smart to be caught in that lie right?

The stimulus package included both tax credits and tax cuts.

You're smart enough to know that, right?

Show me the 400 billion in "tax cuts"... You're smart enough to do that, right?

Read the bill.

It's in there..or use google.

 

[skookerasbil]

Labor Force Participation Rate Drops To 25 Year Low, At 64.5%Submitted by Tyler Durden on 11/05/2010 08:03 -0500

Initial Jobless ClaimsRealityUnemployment


The inverse silver lining to today's jobs report that will be lost in the shuffle of what is perceived as a good NFP (despite consistent initial jobless claims of around 450K, which means that either there is a massive data error, or the rate of job creation has somehow surged) is that labor force participation has now dropped to the lowest rate it has been since 1984, at 64.5%. Assuming a reversion to the long-term average participation rate of 66%, means that the civilian labor force is in reality 157.4 million as opposed to the disclosed 153.9 million, a delta of 3.5 million currently unaccounted for. Maybe someone can ask the president during his imminent press conference what happened to the unemployed population, which would have been 18.3 if this labor force delta was incorporated, resulting in an unemployment rate of 11.6%.


Labor Force Participation Rate Drops To 25 Year Low, At 64.5% | zero hedge



Oooooooooooooooooooooops!!!!!!!



Clearly its time to throw a big party..............if you're amongst the hopelessly duped!!!

 

[skookerasbil]

This is another of the long list of threads being seen lately here on the USMESSAGEBOARD that are beyond laughable...................

Kinda like the Captain of the Titanic saying, "But hey..........the boat stayed afloat for a full two hours!!!!"





The economy is so bad that...


I got a pre-declined
Credit card in the mail.

CEO's are now
Playing miniature golf.

Exxon-Mobil laid off 25 Congressmen.

I saw a Mormon
With only one wife.

I bought a toaster
Oven and my free gift was a bank.

Angelina Jolie
Adopted a child from America .

Motel Six won't
Leave the light on anymore.

A picture is now
Only worth 200 words.

They renamed Wall
Street " Wal-Mart Street .

When Bill and
Hillary travel together, they now have to share a room.

The Treasure Island
Casino in Las Vegas is now managed by Somali pirates.


And, finally...

I was so depressed
Last night thinking about the economy, wars, jobs, my savings, Social Security,
Retirement funds, etc., I called the Suicide Hotline. I got a call center
In Pakistan , and when I told them I was suicidal, they got all excited,
And asked if I could drive a truck...

 

[8537]

Buy a blender, or a car! Get a toaster or a refrigerator for half the cost after your very own Obama tax credit!

Oh I forgot… Hire more employees for a tax credit when revenues from lake of customer spending is down… man, it’s like this intellectual genius thought of everything…

Credits...

I know Mr. Smartypants Obama says cuts/credits in the same sentence to confuse people but I know you were too smart to be caught in that lie right?

The stimulus package included both tax credits and tax cuts.

You're smart enough to know that, right?

Show me the 400 billion in "tax cuts"... You're smart enough to do that, right?

Yes, I'm smart enough to use der geugler:
- The New York Times

 

[Avorysuds]

The stimulus package included both tax credits and tax cuts.

You're smart enough to know that, right?

Show me the 400 billion in "tax cuts"... You're smart enough to do that, right?

Read the bill.

It's in there..or use google.

Awww... I don't wana do it again just to prove you're wrong... So I won't, because it does not matter to you that you're wrong.