USA is not Greece = cutting deficits will only weaken a still-fragile recovery

[Quantum Windbag]

The government needs to force new industries thus new jobs to grow the economy. This would be smart use of tax dollars as these jobs would create other jobs throughout communities and pump up the economy overall.

I like the idea of my tax dollars coming directly back to my community rather than going off to war or supporting jobs overseas which do little if anything to grow our local economies.

The more tax dollars pulled from the economy the more unemployment will surface. Which I believe is the repub plan.

The government needs to force industries? Force them to do what? Show up? Didn't they try that by mandating cellular ethanol? How did that work out?

By the way, you are doing much better, that is easily in the top 10 for dumbest things ever said anywhere, and at least puts you in the running for board idiot. You have to keep saying things this dumb, which is hard unless you are dleusional.

 

[whitehall]

The question is why would anyone accept the opinions of John Miller and Katherine Sciacchitano? Because it's something you want to hear?

 

[thereisnospoon]

USA Banks and industry sitting on 19 million jobs to make Obama look bad!

WASHINGTON -- Corporate America is sitting right on top of the solution to the nation's employment crisis, according to a new report from a group of University of Massachusetts economists.

If America's largest banks and non-financial companies would just loosen their death-grip on a chunk of the $3.6 trillion in cash they're hoarding and move it into productive investments instead, the report estimates that about 19 million jobs would be created in the next three years, lowering the unemployment rate to under 5 percent.

"There is no reason that the U.S. needs to remain stuck in a long-term unemployment crisis," Robert Pollin, lead author of the report and co-director of the Political Economy Research Institute, said in a statement accompanying the report's release Tuesday.

"Getting the banks and corporations to move their hoards into productive investments and job creation requires carrots and sticks -- policies such as a new round of government spending stimulus as well as taxes on the banks' excess reserves -- that can both strengthen overall market demand and unlock credit markets for small businesses," Pollin said.

Corporate America Is Sitting On The Solution To The Jobs Crisis: Report

So what you're basically saying is that rather than create an environment where investors willingly risk their capital because they see an opportunity to make a profit...your solution is to tax them if they don't? This Administration has repeatedly either tried to pass anti-business legislation or enforced anti-business policies and then wonders why they can't get businesses to invest? Duh? Here's a suggestion, Merrill...stop reading the Huffington Post. It's an absurd collection of nonsense.

Taxpayers bailed out the banks with tax dollars. Where's the money that was intended to get the economy moving? Banks depend on government and tax dollars. Put the damn money to work.

The taxpayers did not bail out these institutions. The federal government under Barrack Hussein Obama took OUR money and did this.
Now to be just, most banks paid their obligation back to the federal government which in turn did NOT return this money to us( rightful owners ) it instead took the money and spent it elsewhere. That is criminal.

 

[thereisnospoon]

The 1920 Depression was deeper than the 1929 Depression. Yet the 1929 Depression became known as the Great Depression. Why?

Because in response to the 1920 Depression, the government cut spending and cut taxes. In response to the 1929, the government, under both parties, kept trying to manipulate the economy.

One action lead to one of the greatest economic expansions in human history. We call this period the Roaring Twenties.

Which was a gigantic stock bubble which lead to the Great Depression.

Every sale of stock on the stock market includes the disclaimer: “the return on this investment is not guaranteed and may be negative” for good reason. During the 20th century, there were several periods lasting more than ten years when the return on stocks was negative. After the Dow Jones stock index went down by over 75% between 1929 and 1933, the Dow did not return to its 1929 level until 1953.

Ahh the misuse of statistics and graphs to support a particular agenda.
To date for the last 50 years one dollar invested in the Dow Jones 30 Industrials has realized a net 12% annual return.
As with any investment the disclaimer is "past performance does not guarantee future results"..in other words, investing in financial markets is not for everyone.

 

[thereisnospoon]

"Today, deficit spending remains critical as working people continue to struggle through an economic recovery that has done little to create jobs or to lift wages, but much to restore profits.

Governments finance deficit spending by borrowing. Governments sell bonds—promissory notes—to domestic and foreign investors as well as other government agencies, and then use the proceeds to pay for spending in excess of their tax revenues.

In the United States, domestic investors, foreign investors, and government agencies hold near equal shares of government bonds issued by the Treasury and receive the interest paid on those bonds."

There are some very smart and very rich people, and the central banks of Japan, China, and many other countries that hold a large share of their assets in U.S. government bonds. Something to ponder.

What a bunch of horsecrap.
The federal government in it's infinite wisdom and thirst for votes to keep certain people in office has under the guise of economic growth interfered with the marketplace with 100% disastrous results. Each time the government tries to manipulate the marketplace, they **** it up.

 

[Toddsterpatriot]

Jobs Jobs Jobs Jobs jobs jobs jobs jobs is the answer.

America is not broke and investors know this. America is broke is coming from politicians who have no idea what they are talking about.

USA industry is sitting on trillions of dollars instead of putting america back to work.

Jobs will return. Once Obama loses his.

 

[Toddsterpatriot]

[ame=http://www.youtube.com/watch?v=Y-N_DPNve44]Obama says now is not the time for companies to make profits! - YouTube[/ame]

 

[Toddsterpatriot]

So what you're basically saying is that rather than create an environment where investors willingly risk their capital because they see an opportunity to make a profit...your solution is to tax them if they don't? This Administration has repeatedly either tried to pass anti-business legislation or enforced anti-business policies and then wonders why they can't get businesses to invest? Duh? Here's a suggestion, Merrill...stop reading the Huffington Post. It's an absurd collection of nonsense.

Taxpayers bailed out the banks with tax dollars. Where's the money that was intended to get the economy moving? Banks depend on government and tax dollars. Put the damn money to work.

[ame="http://www.youtube.com/watch?v=e8w5H6fkC4U"]The Quick and the Dead[/ame]

Anyone else feel this is how the Public Sector Unions and their cronies think?

That's exactly how they think!

 

[Toddsterpatriot]

The U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses.

GAO

Citigroup: $2.5 trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)
and many many more including banks in Belgium of all places

And all the loans were repaid......with interest!

 

[Trajan]

The 1920 Depression was deeper than the 1929 Depression. Yet the 1929 Depression became known as the Great Depression. Why?

Because in response to the 1920 Depression, the government cut spending and cut taxes. In response to the 1929, the government, under both parties, kept trying to manipulate the economy.

One action lead to one of the greatest economic expansions in human history. We call this period the Roaring Twenties.

The other prolonged a not as serious Depression for 12 years until World War 2. We call that the Great Depression.

It's not a coincidence that cutting government spending spending and cutting taxes grew the economy. See when people are working for themselves instead of working for the government, they tend to work harder, smarter, and more carefully.

When people end up working for the government more and then our government starts borrowing massive amounts of money, It weakens our economy.

the great depression robbed its name from the what is now known as the long depression which here to fore was the great depression...carry on

 

[merrill]

The U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses.

GAO

Citigroup: $2.5 trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)
and many many more including banks in Belgium of all places

And all the loans were repaid......with interest!

Notice the primary stakeholders in all of this was we the millions upon millions upon millions of USA taxpayers. Without we taxpayers the banks may have crumbled.

The stakeholders aka multiple millions of we the taxpayers want out money putting us stakeholders to work. Our elected officials and the financial industry duped we taxpayers again!

 

[Toddsterpatriot]

The U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses.

GAO

And all the loans were repaid......with interest!

Notice the primary stakeholders in all of this was we the millions upon millions upon millions of USA taxpayers. Without we taxpayers the banks may have crumbled.

The stakeholders aka multiple millions of we the taxpayers want out money putting us stakeholders to work. Our elected officials and the financial industry duped we taxpayers again!

Yup. And without the banks, the taxpayers may be worse off.

So now that the banks repaid the loans, at a profit to the taxpayers, what are you whining about?

 

[merrill]

And all the loans were repaid......with interest!

Notice the primary stakeholders in all of this was we the millions upon millions upon millions of USA taxpayers. Without we taxpayers the banks may have crumbled.

The stakeholders aka multiple millions of we the taxpayers want out money putting us stakeholders to work. Our elected officials and the financial industry duped we taxpayers again!

Yup. And without the banks, the taxpayers may be worse off.

So now that the banks repaid the loans, at a profit to the taxpayers, what are you whining about?

The bailout was to put more money into the communities for jobs,small business ventures and to purchase goods for resale etc etc etc.

The so called profit would have been better coming from big numbers of new employment. As it is the money is still not circulating throughout the nation to stimulate job growth.

If 19 million were to be back on payrolls all concerned would see new money and more profits. Yes the wealthy would love it as well as they should so I say quit sitting on taxpayers money and get on with hefty new economic growth.

USA industry is dependent on taxpayers for their survival no question about it. USA taxpayers are the most important stakeholders in the world..... obviously.

 

[merrill]

Even for those who understand that cutting deficits right now will only weaken a still-fragile recovery, and that weakening the recovery will only increase deficits, getting past the argument that “a eurozone crisis is on its way” is no easy task.

What follows is a self-defense lesson on why the United States is not Greece—or Europe. The U.S. economy is far larger and more productive than Greece. The United States has many more tools in its macro-economic policy box than countries in the eurozone.

And while calls for austerity have kept the United States from undertaking government spending and investment large enough to support a robust economic recovery, at least thus far, the United States hasn’t undertaken the same self-defeating austerity measures Europe has. If we don't learn the right lessons from what is happening in the eurozone now, we never will.

Why the United States Is Not Greece | Dollars & Sense

 

[Toddsterpatriot]

Notice the primary stakeholders in all of this was we the millions upon millions upon millions of USA taxpayers. Without we taxpayers the banks may have crumbled.

The stakeholders aka multiple millions of we the taxpayers want out money putting us stakeholders to work. Our elected officials and the financial industry duped we taxpayers again!

Yup. And without the banks, the taxpayers may be worse off.

So now that the banks repaid the loans, at a profit to the taxpayers, what are you whining about?

The bailout was to put more money into the communities for jobs,small business ventures and to purchase goods for resale etc etc etc.

The so called profit would have been better coming from big numbers of new employment. As it is the money is still not circulating throughout the nation to stimulate job growth.

If 19 million were to be back on payrolls all concerned would see new money and more profits. Yes the wealthy would love it as well as they should so I say quit sitting on taxpayers money and get on with hefty new economic growth.

USA industry is dependent on taxpayers for their survival no question about it. USA taxpayers are the most important stakeholders in the world..... obviously.

No. The bailout was to prevent the banking system from collapsing.
No one is sitting on taxpayer money as the banks repaid the loans.
If you want to be a stakeholder in the banking system, buy some stock.

 

[thereisnospoon]

Notice the primary stakeholders in all of this was we the millions upon millions upon millions of USA taxpayers. Without we taxpayers the banks may have crumbled.

The stakeholders aka multiple millions of we the taxpayers want out money putting us stakeholders to work. Our elected officials and the financial industry duped we taxpayers again!

Yup. And without the banks, the taxpayers may be worse off.

So now that the banks repaid the loans, at a profit to the taxpayers, what are you whining about?

The bailout was to put more money into the communities for jobs,small business ventures and to purchase goods for resale etc etc etc.

The so called profit would have been better coming from big numbers of new employment. As it is the money is still not circulating throughout the nation to stimulate job growth.

If 19 million were to be back on payrolls all concerned would see new money and more profits. Yes the wealthy would love it as well as they should so I say quit sitting on taxpayers money and get on with hefty new economic growth.

USA industry is dependent on taxpayers for their survival no question about it. USA taxpayers are the most important stakeholders in the world..... obviously.

No, it wasn't. The bailout was a smokescreen to alleviate public worry about the solvency of large financial institutions. Actually it was a political move on the part of the federal government to give themselves control over the banks. Hence the reason why all the major bank CEO's were TOLD they were to take the bailout money OR ELSE the feds would be crawling up their asses with one million candle power flashlights.

 

[Toddsterpatriot]

Even for those who understand that cutting deficits right now will only weaken a still-fragile recovery, and that weakening the recovery will only increase deficits, getting past the argument that “a eurozone crisis is on its way” is no easy task.

What follows is a self-defense lesson on why the United States is not Greece—or Europe. The U.S. economy is far larger and more productive than Greece. The United States has many more tools in its macro-economic policy box than countries in the eurozone.

And while calls for austerity have kept the United States from undertaking government spending and investment large enough to support a robust economic recovery, at least thus far, the United States hasn’t undertaken the same self-defeating austerity measures Europe has. If we don't learn the right lessons from what is happening in the eurozone now, we never will.

Why the United States Is Not Greece | Dollars & Sense

How much more do we need to allow Obama to waste, I mean spend, to solidify our recovery?
Why doesn't he try stuff that doesn't involve more wasteful spending?
Like reducing idiotic regulations?
Or allowing increased drilling offshore and in ANWR?

 

[g5000]

It was Clinton's "Community Reinvestment Act" where banks had to make loans to the unqualified, who defaulted on those loans, that created the financial crisis.

There is a lot of dumb shit being parroted out there, but this is the number one stupidest thing still going.

You are aware this was a GLOBAL credit crisis, right? You are aware that a lot of banks in other countries failed, right? And entire countries, right? You are aware that none of the five biggest broker-dealers on Wall Street were even subject to the CRA, right? Lehman Brothers, Bear Stearns, Goldman Sachs, Morgan Stanley, JP Morgan. NONE were subject to the CRA.

And I'm pretty sure negroes are thin on the ground in Iceland.


This CRA bullshit has everything completely backwards.

The reason the underwriting laws of the Universe were thrown out the window, IN MANY COUNTRIES BESIDES THE US, is because of the demand for financial derivative products. These products were based on assets. No one gives a **** what the nature of these assets are. That's why we have the EXACT same crisis going on again with sovereign bonds.

The demand for derivatives drove the demand for the underlying assets, and when all the prime assets were packaged, the demand had not even been barely whetted. So the standards were lowered. And lowered some more. And lowered some more. The government was not making them do this. Wall Street demand was doing this.

And Wall Street quickly realized that if you take someone with a good credit rating you can get more out of them by tricking them into a sub-prime loan. The VAST majority of sub-prime loans were to middle and upper middle class. For the simple reason that the more money you make, the more debt you can get into.

"Sub-prime" is not synonomous with "negro".


Lehman Brothers, and the other broker dealers, bought up their own supply chains of mortgage brokers to keep the supply coming. By 2005, Wall Street surpassed the GSEs in the secondary market. In fact, just when things really started heating up, the GSEs began winding down their market share.

The GSEs were definitely part of the problem. A big part. But the whackjobs go too far when they try to blame the CRA (which is just a not too clever way of blaming negroes) for a worldwide crisis that brought down banks, cities, and countries around the world.

Wake the **** up. Because the exact same derivatives are bringing the whole economic order right back to the same ******* abyss. And this time, there are no convenient negroes to blame.

 

[Toddsterpatriot]

It was Clinton's "Community Reinvestment Act" where banks had to make loans to the unqualified, who defaulted on those loans, that created the financial crisis.

There is a lot of dumb shit being parroted out there, but this is the number one stupidest thing still going.

You are aware this was a GLOBAL credit crisis, right? You are aware that a lot of banks in other countries failed, right? And entire countries, right? You are aware that none of the five biggest broker-dealers on Wall Street were even subject to the CRA, right? Lehman Brothers, Bear Stearns, Goldman Sachs, Morgan Stanley, JP Morgan. NONE were subject to the CRA.

And I'm pretty sure negroes are thin on the ground in Iceland.


This CRA bullshit has everything completely backwards.

The reason the underwriting laws of the Universe were thrown out the window, IN MANY COUNTRIES BESIDES THE US, is because of the demand for financial derivative products. These products were based on assets. No one gives a **** what the nature of these assets are. That's why we have the EXACT same crisis going on again with sovereign bonds.

The demand for derivatives drove the demand for the underlying assets, and when all the prime assets were packaged, the demand had not even been barely whetted. So the standards were lowered. And lowered some more. And lowered some more. The government was not making them do this. Wall Street demand was doing this.

And Wall Street quickly realized that if you take someone with a good credit rating you can get more out of them by tricking them into a sub-prime loan. The VAST majority of sub-prime loans were to middle and upper middle class. For the simple reason that the more money you make, the more debt you can get into.

"Sub-prime" is not synonomous with "negro".


Lehman Brothers, and the other broker dealers, bought up their own supply chains of mortgage brokers to keep the supply coming. By 2005, Wall Street surpassed the GSEs in the secondary market. In fact, just when things really started heating up, the GSEs began winding down their market share.

The GSEs were definitely part of the problem. A big part. But the whackjobs go too far when they try to blame the CRA (which is just a not too clever way of blaming negroes) for a worldwide crisis that brought down banks, cities, and countries around the world.

Wake the **** up. Because the exact same derivatives are bringing the whole economic order right back to the same ******* abyss. And this time, there are no convenient negroes to blame.

An MBS isn't a derivative, it's a bond.

 

[Oldstyle]

It was Clinton's "Community Reinvestment Act" where banks had to make loans to the unqualified, who defaulted on those loans, that created the financial crisis.

There is a lot of dumb shit being parroted out there, but this is the number one stupidest thing still going.

You are aware this was a GLOBAL credit crisis, right? You are aware that a lot of banks in other countries failed, right? And entire countries, right? You are aware that none of the five biggest broker-dealers on Wall Street were even subject to the CRA, right? Lehman Brothers, Bear Stearns, Goldman Sachs, Morgan Stanley, JP Morgan. NONE were subject to the CRA.

And I'm pretty sure negroes are thin on the ground in Iceland.


This CRA bullshit has everything completely backwards.

The reason the underwriting laws of the Universe were thrown out the window, IN MANY COUNTRIES BESIDES THE US, is because of the demand for financial derivative products. These products were based on assets. No one gives a **** what the nature of these assets are. That's why we have the EXACT same crisis going on again with sovereign bonds.

The demand for derivatives drove the demand for the underlying assets, and when all the prime assets were packaged, the demand had not even been barely whetted. So the standards were lowered. And lowered some more. And lowered some more. The government was not making them do this. Wall Street demand was doing this.

And Wall Street quickly realized that if you take someone with a good credit rating you can get more out of them by tricking them into a sub-prime loan. The VAST majority of sub-prime loans were to middle and upper middle class. For the simple reason that the more money you make, the more debt you can get into.

"Sub-prime" is not synonomous with "negro".


Lehman Brothers, and the other broker dealers, bought up their own supply chains of mortgage brokers to keep the supply coming. By 2005, Wall Street surpassed the GSEs in the secondary market. In fact, just when things really started heating up, the GSEs began winding down their market share.

The GSEs were definitely part of the problem. A big part. But the whackjobs go too far when they try to blame the CRA (which is just a not too clever way of blaming negroes) for a worldwide crisis that brought down banks, cities, and countries around the world.

Wake the **** up. Because the exact same derivatives are bringing the whole economic order right back to the same ******* abyss. And this time, there are no convenient negroes to blame.

Why are you injecting race into this?