Where are the jobs?

FIREWALL · 10-30-09, 11:37 AM

Good question. I don't see anything happening until next Spring at the earliest.

nikimcbee · 10-30-09, 01:02 PM

I'm under the impression that they are creating more Gov't jobs. That's what they're advertising around here anyway. Gov't is growing very rapidly here in ore-gone. We do have second highest unemployment though.

nikimcbee · 10-30-09, 01:41 PM

http://www.bloomberg.com/apps/news?p...d=aUuHhaDx8Hr8

He inherited the problem.

oh, okay. Everyone, it's not obama's fault. He was just present.

Platapus · 10-30-09, 07:55 PM

The jobs may never come back.

I don't think consumers will be spending like they did prior to the crisis. I think it scared a lot of people into pulling their head out of their butts and start really thinking of what they are spending their money on.

I know it is true in my family. We are cutting way back on our discretionary spending -- really looking at what we are buying and why we are buying it. For example, Christmas. There was a time when our total bill for Christmas shopping for the entire families was about $5,000. This year our budget for everyone is $1,000 and that includes for all the families. I am not going into debt any more for Christmas shopping. If I don't have the money in the bank, the money does not exist.

I am almost finished with moving my family to a cash only operation. If we want something we are saving our money and not just reaching for the credit cards like we used to. And we are closely examining why we are buying the stuff we need and frankly, often deciding that we really don't need to spend the money.

If a large number of families are of like minds with me, the businesses that cater to "discretionary" spending may be facing an uncertian future.

I am simply not buying the same stuff that I was buying a year ago, and when the economy gets better, I have no intention of changing back to my old wasteful ways. I was spending way too much way too fast. I could afford to do so, but did I really need to spend that much? Absolutely not!

I doubt I am the only one of this mind set.

So there may be some businesses that will never recover.

10-30-09, 09:43 PM

Interesting post.

Quote:

We are cutting way back on our discretionary spending -

How does that affect previous trends for a point of measure?

Quote:

If I don't have the money in the bank, the money does not exist.

Wow, people thought that credit was money?
I thought Charles Dickens had thoroughly ridiculed that notion in All the year round years ago and Wilde had finished it off entirely long before Pinter or Bleasdale felt the need to rip the notion to pieces again

Stealth Hunter · 10-30-09, 09:52 PM

Quote:

Originally Posted by nikimcbee

http://www.bloomberg.com/apps/news?p...d=aUuHhaDx8Hr8

He inherited the problem.

oh, okay. Everyone, it's not obama's fault. He was just present.

Well yeah- he did inherit the problem. You forget that the economy went sour when Bush was in office in 2008, after the housing market and subprime mortgage crisis in addition to the dollar's decline in value; which led to record unemployment levels and a huge decline in the country's GDP. For that matter, NBER announced that the recession had officially began in December 2007.

nikimcbee · 10-30-09, 09:59 PM

Quote:

Originally Posted by Stealth Hunter

Well yeah- he did inherit the problem. You forget that the economy went sour when Bush was in office in 2008, after the housing market and subprime mortgage crisis in addition to the dollar's decline in value; which led to record unemployment levels and a huge decline in the country's GDP. For that matter, NBER announced that the recession had officially began in December 2007.

You mean Barney Frank.

Stealth Hunter · 10-30-09, 10:24 PM

Quote:

Originally Posted by nikimcbee

You mean Barney Frank.

In the context of the Federal Housing Enterprise Regulatory Reform Act or the Gramm-Leach-Bliley Act?

SteamWake · 10-31-09, 07:57 AM

Back on topic

Quote:

Posting its results late this afternoon at Recovery.gov, the White House claimed 640,329 jobs have been created or saved because of the $159 billion in stimulus funds allocated as of Sept. 30.

Officials acknowledged the numbers were not exact, saying that states and localities that reported the numbers have made mistakes.

Quote:

Brian Schmidt, director of planning and programming for the commission said that his staff originally reported to the Obama administration that the stimulus money saved 250 jobs. Then, realizing they had mistakenly double credited, they later changed that to 125 jobs. Tuesday, they updated it again to 74 jobs.

http://blogs.abcnews.com/politicalpu...tor-abuse.html

Aramike · 10-31-09, 08:28 PM

Quote:

Originally Posted by Stealth Hunter

Well yeah- he did inherit the problem. You forget that the economy went sour when Bush was in office in 2008, after the housing market and subprime mortgage crisis in addition to the dollar's decline in value; which led to record unemployment levels and a huge decline in the country's GDP. For that matter, NBER announced that the recession had officially began in December 2007.

You're absolutely right. Bush was president. And the DEMOCRATS had control of congress. AND Obama was a Senator.

I'm trying to figure which legislation the Democrats passed that would have helped prevent any of this from happening, that Bush vetoed.

Frankly, I think the problem goes beyond politics. Government only has SOME influence regarding our economic system.

My problem is that the Democrats are quick to lay the blame squarely at Bush while completely ignoring their own contributions to the problems

Platapus · 10-31-09, 09:55 PM

Why do people try to assign blame to one person or one political party?

Everyone in the government F-ed up the economy and everyone in the government will be involved in the recovery effort.

No one has their hands clean, and no one or group can take any moral high ground in this mess.

The important thing should be working together to fix the problem and making sure it does not happen again.

Stealth Hunter · 11-01-09, 02:50 AM

Quote:

Originally Posted by Platapus

Why do people try to assign blame to one person or one political party?

Everyone in the government F-ed up the economy and everyone in the government will be involved in the recovery effort.

No one has their hands clean, and no one or group can take any moral high ground in this mess.

The important thing should be working together to fix the problem and making sure it does not happen again.

Well said. Especially on the last part (pity that the only real long-term solution would involve government intervention, which you'll have plenty of people bitching and complaining about; you can't expect people or businesses to fairly or correctly take care of themselves, so the only way to do it is to bolster the national laws on the matter and hand over the responsibility for management to the highest authority: the national government, not to say that the federal governments should, or need be, excluded from it). For the record, I did not intend to insinuate that Bush was all to blame. Just that as far as presidents are concerned, Obama inherited the mess from Bush. Or the Republicans or Democrats for that matter.

The economy is a complicated thing, due to its size, massive number of transactions, etc. And screwing it up this badly takes a lot of cooperation on the part of many players. I blame the Federal Reserve for making credit so cheap, Congress for supporting mortgage tax deductions that allowed for consumers to have more incentive to buy more costly homes, the Reagan and Clinton and Bush Administrations (Sr. and Jr.) because of their support and pushing of lesser downpayment requirements and stringent credit whilst at the same time not providing more oversight into the matter, firms on Wall Street because they paid hardly any attention to the risky loans and bonds they were handing out left and right that they also bundled with MB Securities, mortgage brokers for going along with Wall Street's plans and obscure accounting rules, and the general populace of home buyers who were taking advantage of the easy credit they could earn to boost the prices of homes to an excessive level. That's a short and brief list on my part.

Aramike · 11-01-09, 05:57 AM

Quote:

Originally Posted by Platapus

Why do people try to assign blame to one person or one political party?

Everyone in the government F-ed up the economy and everyone in the government will be involved in the recovery effort.

No one has their hands clean, and no one or group can take any moral high ground in this mess.

The important thing should be working together to fix the problem and making sure it does not happen again.

Now you're talking my language... Good, unbiased, accurate assessment.

10-30-09, 11:37 AM	#1
FIREWALL Eternal Patrol Join Date: Mar 2006 Location: CATALINA IS. SO . CAL USA Posts: 10,108 Downloads: 511 Uploads: 0	Good question. I don't see anything happening until next Spring at the earliest. __________________ RIP FIREWALL I Play GWX. Silent Hunter Who ???

10-30-09, 01:02 PM	#2
nikimcbee Fleet Admiral Join Date: Jul 2003 Location: Patroling the Slot. Posts: 17,952 Downloads: 90 Uploads: 0	I'm under the impression that they are creating more Gov't jobs. That's what they're advertising around here anyway. Gov't is growing very rapidly here in ore-gone. We do have second highest unemployment though. __________________

10-30-09, 01:41 PM	#3
nikimcbee Fleet Admiral Join Date: Jul 2003 Location: Patroling the Slot. Posts: 17,952 Downloads: 90 Uploads: 0	http://www.bloomberg.com/apps/news?p...d=aUuHhaDx8Hr8 He inherited the problem. oh, okay. Everyone, it's not obama's fault. He was just present. __________________

10-30-09, 07:55 PM	#4
Platapus Fleet Admiral Join Date: Oct 2006 Posts: 19,382 Downloads: 63 Uploads: 0	The jobs may never come back. I don't think consumers will be spending like they did prior to the crisis. I think it scared a lot of people into pulling their head out of their butts and start really thinking of what they are spending their money on. I know it is true in my family. We are cutting way back on our discretionary spending -- really looking at what we are buying and why we are buying it. For example, Christmas. There was a time when our total bill for Christmas shopping for the entire families was about $5,000. This year our budget for everyone is $1,000 and that includes for all the families. I am not going into debt any more for Christmas shopping. If I don't have the money in the bank, the money does not exist. I am almost finished with moving my family to a cash only operation. If we want something we are saving our money and not just reaching for the credit cards like we used to. And we are closely examining why we are buying the stuff we need and frankly, often deciding that we really don't need to spend the money. If a large number of families are of like minds with me, the businesses that cater to "discretionary" spending may be facing an uncertian future. I am simply not buying the same stuff that I was buying a year ago, and when the economy gets better, I have no intention of changing back to my old wasteful ways. I was spending way too much way too fast. I could afford to do so, but did I really need to spend that much? Absolutely not! I doubt I am the only one of this mind set. So there may be some businesses that will never recover. __________________ abusus non tollit usum - A right should NOT be withheld from people on the basis that some tend to abuse that right.

10-31-09, 09:55 PM	#11
Platapus Fleet Admiral Join Date: Oct 2006 Posts: 19,382 Downloads: 63 Uploads: 0	Why do people try to assign blame to one person or one political party? Everyone in the government F-ed up the economy and everyone in the government will be involved in the recovery effort. No one has their hands clean, and no one or group can take any moral high ground in this mess. The important thing should be working together to fix the problem and making sure it does not happen again. __________________ abusus non tollit usum - A right should NOT be withheld from people on the basis that some tend to abuse that right.