U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487:681]

Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

donsutherland1 said:

The opinion piece in the Examiner mischaracterizes Clinton's speech. If one reads the transcript, Clinton actually praises President Obama for reviving economic growth (as would be expected, as she could ill-afford to do otherwise were she to seek the Democratic Party nomination). The relevant excerpts are:

It’s taken years of painstaking work and strong leadership from President Obama to get our economy growing again. But it is growing. And there are reasons to be optimistic about our future.

The full transcript can be found at: Keynote by the Honorable Hillary Rodham Clinton | NewAmerica.org

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Both Hillary and Obama have the same amount of credibility, NONE. It didn't take hard work, only a partisan Democrat Congress to pump 842 billion(stimulus) into the economy to generate short term economic results and continue to print money to keep the stock market at record highs. They have done nothing to stimulate the private sector which is the engine that really drives this economy to create jobs that even keep up with population growth. debt continues to rise, economic growth remains stagnant, and govt dependence is increasing.

Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

donsutherland1 said:

The opinion piece in the Examiner mischaracterizes Clinton's speech. If one reads the transcript, Clinton actually praises President Obama for reviving economic growth (as would be expected, as she could ill-afford to do otherwise were she to seek the Democratic Party nomination). The relevant excerpts are:

It’s taken years of painstaking work and strong leadership from President Obama to get our economy growing again. But it is growing. And there are reasons to be optimistic about our future.

The full transcript can be found at: Keynote by the Honorable Hillary Rodham Clinton | NewAmerica.org

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Well DS she does have to create a difference from BO.....and talking about what the economy was like with her Husband. Is that means for her to do so. Which any differences she can point to.....will be taken as criticisms to BO. Even if she still has to press with the party line.

Although.....most of what is being said isn't panning out with BO's economy. When Retail and Businesses are reporting they will not meet expectations like they thought. When more and more National Companies are cutting back and closing up stores and or food chains.

Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

Conservative said:

Both Hillary and Obama have the same amount of credibility, NONE. It didn't take hard work, only a partisan Democrat Congress to pump 842 billion(stimulus) into the economy to generate short term economic results and continue to print money to keep the stock market at record highs. They have done nothing to stimulate the private sector which is the engine that really drives this economy to create jobs that even keep up with population growth. debt continues to rise, economic growth remains stagnant, and govt dependence is increasing.

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Whether or not Secretary Clinton has economic credibility is entirely different from the matter of her position concerning President Obama's policies. Her credibility, her vision, among many other factors will be scrutinized should she seek the Presidency. Hopefully, the 2016 campaign will feature a substantive debate on the direction of the country, rather than the more superficial positioning that has defined recent campaigns. Unfortunately, that's probably not a highly likely outcome given the current soundbite culture so to speak.

Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

Walgreens latest big firm to consider leaving U.S.
At Walgreen, renouncing corporate citizenship.....

The state gave Walgreen $46 million in corporate income tax credits over 10 years in exchange for a pledge to create 500 jobs and invest in upgrading its offices. The state also provided $625,000 in training money and $875,000 in other tax incentives.

Mr. Wasson’s actions, however, could soon run counter to his words. The same chief executive who said he was so “proud of our Illinois heritage” is now considering moving the company’s headquarters to Switzerland as part of a merger with Alliance Boots, a European drugstore chain. Why? To lower Walgreen’s tax bill even further.

Alarmingly, dozens of large United States companies are contemplating the increasingly popular tax-skirting tactic known as an inversion. Under the strategy, companies merge with foreign rivals in countries with lower tax rates and then reincorporate there while still enjoying the benefits of doing a large part of their business in the United States. AbbVie, a drug company spun off from Abbott Laboratories, is in talks to merge with its rival Shire, based in Ireland, Europe’s equivalent of a tax haven. Medtronic announced plans to merge with Covidien, also based in Ireland. Similarly, Pfizer sought to buy AstraZeneca, based in Britain, where the tax rate is lower than it is in the United States, but AstraZeneca’s board rejected that offer.

In Walgreen’s case, an inversion would be an affront to United States taxpayers. The company, which also owns the Duane Reade chain in New York, reaps almost a quarter of its $72 billion in revenue directly from the government; it received $16.7 billion from Medicare and Medicaid last year.....snip~

http://finance.yahoo.com/news/renouncing-corporate-citizenship-001240207.html

Like it says they aren't the only one.

Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

MMC said:

Well DS she does have to create a difference from BO.....and talking about what the economy was like with her Husband. Is that means for her to do so. Which any differences she can point to.....will be taken as criticisms to BO. Even if she still has to press with the party line.

Although.....most of what is being said isn't panning out with BO's economy. When Retail and Businesses are reporting they will not meet expectations like they thought. When more and more National Companies are cutting back and closing up stores and or food chains.

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I agree that she will also try to differentiate herself, but she will do so in a fashion that does not tear down President Obama. Were she to vigorously attack his policies, she would only undermine her own prospects. First, she would lose the support of at least some share of those who supported President Obama. Second, she would generate questions about her own judgment, after all she served a full term with the President.

What her speech seemed to highlight is that the nation still faces real challenges, particularly how to translate reviving economic growth into broader socioeconomic outcomes (improved standard of living, reduced income inequality, etc.). The desired outcomes and policies aimed at achieving them will differ among the two Parties and also among the various candidates. Secretary Clinton has yet to define her policy approach toward achieving the outcomes she will seek (some of which were implied in the speech in question). As a hint, she did point to her husband's Presidency and an emphasis on investment, among other things. She also offered a big hint that she will define her approach as somewhat non-partisan or at least transcending contemporary partisan divisions in some aspects, perhaps trying to address the public's discontent with recent partisan gridlock when she referred to "evidence-based decision making" and her hope that it can be "restored." It should be noted that this will be a challenge, as she does have a strong partisan identity and there will be constraints on how far she can go without upsetting more progressive elements in the Democratic Party.

Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

Btw here is something on retail.


The Sad, Slow Death of America's Retail Workforce.....

Retail sales just notched their best month since 2012 and the industry has added almost one million jobs since 2010. But the rosy headline stats obscure a more complex and potentially troubling story in retail—particularly for its employees.

The business of selling stuff is becoming much more efficient. Sales-per-employee have gone from $12,00 to $25,000 in the last two decades. That means that even as consumers spend more, we need fewer workers to stock shelves and process orders.



One reason retail has become so efficient is that more of it is happening across Internet cables rather than across registers. E-commerce is gobbling up one percentage point of total sales every two-and-a-half years. Call it the Amazon Effect.



And then there's the Walmart Effect. As I've reported, one Walmart worker replaces about 1.4 local retail workers, so that a county sees about 150 fewer jobs in the years after a Walmart opens its doors. Combined with the Amazon effect, this has dramatically reduced our need for retail workers to sell things, and so retail's share of the labor force, which peaked in the late 1980s, has been declining ever since.



This isn't the end of retail. But it is the end of some retail.....snip~

Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

MMC said:

Walgreens latest big firm to consider leaving U.S.
At Walgreen, renouncing corporate citizenship.....

The state gave Walgreen $46 million in corporate income tax credits over 10 years in exchange for a pledge to create 500 jobs and invest in upgrading its offices. The state also provided $625,000 in training money and $875,000 in other tax incentives.

Mr. Wasson’s actions, however, could soon run counter to his words. The same chief executive who said he was so “proud of our Illinois heritage” is now considering moving the company’s headquarters to Switzerland as part of a merger with Alliance Boots, a European drugstore chain. Why? To lower Walgreen’s tax bill even further.

Alarmingly, dozens of large United States companies are contemplating the increasingly popular tax-skirting tactic known as an inversion. Under the strategy, companies merge with foreign rivals in countries with lower tax rates and then reincorporate there while still enjoying the benefits of doing a large part of their business in the United States. AbbVie, a drug company spun off from Abbott Laboratories, is in talks to merge with its rival Shire, based in Ireland, Europe’s equivalent of a tax haven. Medtronic announced plans to merge with Covidien, also based in Ireland. Similarly, Pfizer sought to buy AstraZeneca, based in Britain, where the tax rate is lower than it is in the United States, but AstraZeneca’s board rejected that offer.

In Walgreen’s case, an inversion would be an affront to United States taxpayers. The company, which also owns the Duane Reade chain in New York, reaps almost a quarter of its $72 billion in revenue directly from the government; it received $16.7 billion from Medicare and Medicaid last year.....snip~

http://finance.yahoo.com/news/renouncing-corporate-citizenship-001240207.html

Like it says they aren't the only one.

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More bad news! The sad thing is that there are about 16 million more people in the US since 2006, but there are more than 1.5 million fewer Americans employed today. Workforce participation rates are the lowest in decades - and it looks like it's about to get worse. And this administration is pushing to give amnesty to thousands and thousands of illegals at the same time that jobs are disappearing? WTH?

Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487]

Part 2.

According to data obtained by The Atlantic from EMSI, the retail industry gained about 49,000 jobs between *2001 and 2013*, which means it grew by exactly 0.32 percent. Which means it didn't grow.

But the major action is at the bookends of this graph below, which shows employment growth in the largest retail subcategories. Department stores, like JCPenney, lost more than 200,000 jobs this century. But supercenters like Walmart, which operates in more than 3,200 domestic locations, added half a million (often lower-paying) jobs.



The death of the salesmen isn't a uniform trend. It's spiky. Supercenters nearly doubled their total employment this century. But music stores, photo stores, computer stores, and book stores have been crushed. These used to be services you needed a store to buy. Now they're apps.....snip~




http://finance.yahoo.com/news/sad-slow-death-americas-retail-120000544.html

Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

MMC said:

Walgreens latest big firm to consider leaving U.S.

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OK, and this has what to do with Q1 GDP, or things looking up for Q2?

You also do know that the US corporate tax rate is below the OECD average? As in, they aren't considering this to get a lower tax rate, but just to exploit a tax loophole. Right?

Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

MMC said:

Btw here is something on retail

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Thanks for the red herrings.

The increasing efficiency of retail, the move online, and shrinking of this type of employment are long-term trends. It doesn't alter the fact that there was just a big jump in retail spending, which (again, keeping on track with the thread) indicates that the bad Q1 results do NOT indicate some fundamental weakness of the economy.

Are you guys really going to distract from every bit of positive economic news this week? Seriously?

Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

Visbek said:

OK, and this has what to do with Q1 GDP, or things looking up for Q2?

You also do know that the US corporate tax rate is below the OECD average? As in, they aren't considering this to get a lower tax rate, but just to exploit a tax loophole. Right?

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Do you think programs like Obamacare, EPA policy changes, threats of higher taxes, more regulations, holds on things like the Keystone Pipeline, attacks on individual wealth creation, promotion of class warfare and envy affects business hiring and employment practices? Do you understand how the private sector works and the costs of employing, hiring and firing employees? Do you understand that businesses not only pay federal taxes but also state and local taxes?

You seem to believe that Obama has provided the incentive to the private sector to grow their businesses and grow jobs. Give me examples of that so called incentive?

Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

polgara said:

More bad news! The sad thing is that there are about 16 million more people in the US since 2006, but there are more than 1.5 million fewer Americans employed today. Workforce participation rates are the lowest in decades - and it looks like it's about to get worse. And this administration is pushing to give amnesty to thousands and thousands of illegals at the same time that jobs are disappearing? WTH?

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Why is it bad that the workforce participation rate is lowest in years?

That just means that we have a larger percent of our workforce that is financially secure enough that they don't have to work. Some of those people are in college, or retired, or have decided to be housemakers or stay at home moms and dads. Thirty years ago, back when conservatives talked about things like "values" and "family" and "education", those were thought to be good things, but now conservatives seem to be the anti-values/family/education party.

Also, if todays workforce participation rate is still higher than at any point prior to 1978, so in a way we are returning to the "good ole days".

PS - I believe that I read that as of last month all jobs lost during the Great Bush Recession had been recovered and that we now have a record number of jobs in the USA.

Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

imagep said:

Why is it bad that the workforce participation rate is lowest in years?

That just means that we have a larger percent of our workforce that is financially secure enough that they don't have to work. Some of those people are in college, or retired, or have decided to be housemakers or stay at home moms and dads. Thirty years ago, back when conservatives talked about things like "values" and "family" and "education", those were thought to be good things, but now conservatives seem to be the anti-values/family/education party.

Also, if todays workforce participation rate is still higher than at any point prior to 1978, so in a way we are returning to the "good ole days".

PS - I believe that I read that as of last month all jobs lost during the Great Bush Recession had been recovered and that we now have a record number of jobs in the USA.

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So you have no problem with 7.3 million Americans who want full time work working part time? You have no problem with millions and millions of Americans being unemployed/under employed/discouraged? You have no problem with a labor force that hasn't kept up with population growth and high unemployment among our youth and African Americans?

We have an economy now based upon part time employment and an entitlement mentality. Obama has kept his promise to fundamentally change America but the problem is that fundamental change isn't what I believe most Americans who voted for him envisioned.

Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

Conservative said:

Do you think programs like Obamacare, EPA policy changes, threats of higher taxes, more regulations, holds on things like the Keystone Pipeline, attacks on individual wealth creation, promotion of class warfare and envy affects business hiring and employment practices? Do you understand how the private sector works and the costs of employing, hiring and firing employees? Do you understand that businesses not only pay federal taxes but also state and local taxes?

You seem to believe that Obama has provided the incentive to the private sector to grow their businesses and grow jobs. Give me examples of that so called incentive?

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There is always uncertainty in the market, regardless of which party is in power.

The only thing that effects my hiring and firing is demand for the products that I produce. If demand increases, I hire to fill that demand, if demand decreases, I have no choice other than to lay people off. Obamacare doesn't matter, neither does the level of wages that I have to pay, if I need someone I will hire, if I don't need someone then they aint worth a penny to me, thus I will cut them loose.

Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

imagep said:

There is always uncertainty in the market, regardless of which party is in power.

The only thing that effects my hiring and firing is demand for the products that I produce. If demand increases, I hire to fill that demand, if demand decreases, I have no choice other than to lay people off. Obamacare doesn't matter, neither does the level of wages that I have to pay, if I need someone I will hire, if I don't need someone then they aint worth a penny to me, thus I will cut them loose.

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Demand for goods and services are affected by the take home pay of employees and the value those dollars buy. Obama has done nothing to promote certainty in the markets, certainty with regards to personal income, and in fact has done his best to create more dependence on the Federal Govt.

Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

Conservative said:

So you have no problem with 7.3 million Americans who want full time work working part time? You have no problem with millions and millions of Americans being unemployed/under employed/discouraged? You have no problem with a labor force that hasn't kept up with population growth and high unemployment among our youth and African Americans?

We have an economy now based upon part time employment and an entitlement mentality. Obama has kept his promise to fundamentally change America but the problem is that fundamental change isn't what I believe most Americans who voted for him envisioned.

Click to expand...

There are always people working part time who desire full time jobs, and there are also full time people who would prefer to work part time, and most part time workers prefer to work party time.

Obviously our unemployment rate is high, as it comes down, as it has steadily been doing for the past five years, fewer people will be inconvenienced by their job situation.

What I am not OK with is hundreds of thousands of jobs losses per month that we had during the great recession.

Anyhow, what you are talking about is unemployment and underemployment, not the labor force participation rate.

I advocate to establish a full employment policy where we have jobs available for everyone who chooses to work. We should have established that policy decades ago, yes, Obama failed to do this, as did every other president before him.

Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

Conservative said:

Do you think programs like Obamacare, EPA policy changes, threats of higher taxes, more regulations, holds on things like the Keystone Pipeline, attacks on individual wealth creation, promotion of class warfare and envy affects business hiring and employment practices?

Click to expand...

Yet more red herrings.

Walgreens is not even remotely considering moving its corporate HQ to Switzerland because of Obamacare, EPA policies, a slight bump in top-end tax rates, regulations, Keystone and so forth.

Walgreens is considering moving its corporate HQ because that's where its new parent exists, and because it might let them exploit a huge corporate tax loophole.

Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

Conservative said:

Demand for goods and services are affected by the take home pay of employees and the value those dollars buy. Obama has done nothing to promote certainty in the markets, certainty with regards to personal income, and in fact has done his best to create more dependence on the Federal Govt.

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Correct. Thats part of the reason that I do not support Obama, and did not vote for him either time.

I do advocate for middle class tax breaks and a higher minimum wage to create more demand.

Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

imagep said:

There are always people working part time who desire full time jobs, and there are also full time people who would prefer to work part time, and most part time workers prefer to work party time.

Obviously our unemployment rate is high, as it comes down, as it has steadily been doing for the past five years, fewer people will be inconvenienced by their job situation.

What I am not OK with is hundreds of thousands of jobs losses per month that we had during the great recession.

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Obama has created an economy that promotes part time workers because businesses are not going to hire full time employees under these economic conditions. You may be the exception but the unemployment/employment along with economic numbers tell a different story.

You keep going back to those hundreds of thousands of employees who lost their jobs but not the millions who are discouraged and dropped out of the labor force. Aren't those people unemployed? I have posted the bls charts but you ignored them. Why are there fewer people working today than when the recession began? How many of those so called jobs created during this Administration are part time jobs?

You want to continue to focus on jobs lost but the jobs lost during the Bush years PLUS the discouraged workers still don't come close to what Obama has generated.
What is it about people like you who just don't get it. Obama has made a fool out of you and you continue to promote his economic results.

Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

Conservative said:

Obama has created an economy that promotes part time workers because businesses are not going to hire full time employees under these economic conditions. You may be the exception but the unemployment/employment along with economic numbers tell a different story.

You keep going back to those hundreds of thousands of employees who lost their jobs but not the millions who are discouraged and dropped out of the labor force. Aren't those people unemployed? I have posted the bls charts but you ignored them. Why are there fewer people working today than when the recession began? How many of those so called jobs created during this Administration are part time jobs?

You want to continue to focus on jobs lost but the jobs lost during the Bush years PLUS the discouraged workers still don't come close to what Obama has generated.
What is it about people like you who just don't get it. Obama has made a fool out of you and you continue to promote his economic results.

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You keep talking about Obama, but fail to recognize that his policies are 99% the same as the Bush Policies. There is little difference.

Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

imagep said:

Correct. Thats part of the reason that I do not support Obama, and did not vote for him either time.

I do advocate for middle class tax breaks and a higher minimum wage to create more demand.

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Do you need a law to tell you what to pay your workers? Why should the govt. mandate a one size fits all law telling others what to pay their workers. Why not let the market decide? Minimum wage is a state issue and the only reason Obama is promoting a minimum wage increase is because union contracts are tied to the percentage change in minimum wage increases. Minimum wages aren't the responsibility of the Federal Govt but rather a state issue along with the businesses in that state. Each state has a different cost of living so tell me why the Federal bureaucrats should dictate wages?

Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

imagep said:

You keep talking about Obama, but fail to recognize that his policies are 99% the same as the Bush Policies. There is little difference.

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What leftwing rag did you get that of? Did Bush create ACA? Did Bush create a massive stimulus program to bail out unions? did Bush wage a war on individual wealth creation and promote class warfare? Did Bush stop the Keystone Pipeline? Did Bush wage war on the coal industry? There is plenty of difference between Obama and Bush but only ideologues want to try and link the two because the results are worse.

Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

Visbek said:

Yet more red herrings.

Walgreens is not even remotely considering moving its corporate HQ to Switzerland because of Obamacare, EPA policies, a slight bump in top-end tax rates, regulations, Keystone and so forth.

Walgreens is considering moving its corporate HQ because that's where its new parent exists, and because it might let them exploit a huge corporate tax loophole.

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Think Walgreens would consider the move were it not for Obamanomics? There is a reason that small businesses aren't hiring and growing. You continue to spout the same old liberal leftwing rhetoric as if it is business's fault for the economic policies being implemented. Sorry but that isn't reality. I only see more diversion and never an answer to a direct question. that is what liberals do, divert, distort, and throw out red herrings.

Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487]

MMC said:

/snip

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It just makes me think of Blockbusters. As the environment changes, so do the goods and services required to service that area. If you are making buggy whips in the day of the car...you will find yourself unemployed.

Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

Conservative said:

Think Walgreens would consider the move were it not for Obamanomics?

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Yes. Absolutely and without question.

Do you even understand what Walgreens is considering? They were acquired by a Swiss company. They aren't going to close any stores, they aren't going to fire any US staff. All they are going to do is change their legal status from a US corporation to a Swiss corporation, which will let them exploit a huge tax loophole (possibly $4 billion over 5 years). This is happening just 2 years after they took a big tax credit from the state of Illinois.

Their obligations under the ACA won't change. They aren't affected by Keystone. They weren't acquired by a Swiss company because the CEO got a 4% tax hike this year. None of the stuff you posted is relevant to this possible change of its tax home.

There is a reason that small businesses aren't hiring and growing.

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Walgreens isn't a "small business." They're the largest pharmacy chain in the US. They had nearly $1 billion in sales last year with over 8000 stores. They've been acquiring other chains and expanding.

You continue to spout the same old liberal leftwing rhetoric as if it is business's fault for the economic policies being implemented....

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And you apparently continue to do anything you can to dump on the economic indicators that *might* show that Q2 will be in positive territory, and that Q1 was an anomaly.

What are you going to say if Q2 shows a healthy increase in GPD?