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Thread: Economy soars 5.7 percent, fastest in 6 years

  1. #31
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    Re: Economy soars 5.7 percent, fastest in 6 years

    Quote Originally Posted by deltabtry View Post
    . Natural gas, oil, coal, concrete, steel, agriculture is not even close to producing what it could. .
    Natural gas is expanding everyday, we use more coal now than ever before in history, oil exploration and production has been reduced as a function of lower prices and reduced demand, we have surpluses in just about every crop we grow. These commodities are based on supply and demand and are not really part of the problem.
    The steel industry pretty much moved overseas decades ago along with much of our manufacturing base. They told us that would be good for us.
    "This Administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is in our national interest that more people own their own home. After all, if you own your own home, you have a vital stake in the future of our country."" GWB

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    Re: Economy soars 5.7 percent, fastest in 6 years

    Quote Originally Posted by Dezaad View Post
    What a ridiculous misuse of the claims of the economists who were advising Obama. This is about the report where they made their predictions and recommendations regarding the stimulus:



    The fact that unemployment got worse than expected before the jobs created by the stimulus could take effect is simply an even better reason to have a stimulus.
    That doesn't explain the fact that even supporters of the stimulus weren't saying that it would avert another depression.

    Its not a ridiculous assertion, and it does have a basis, but you are right that there is no way to prove it. How DO we prove what WOULD have happened, after all??

    What you would have liked to have done is do what flies in the face of the most reputable economic science (the "basis"), and then what likely WOULD have happened would have been a Depression.
    You do realize that economists aren't a group of people who generally agree with each other, right? There's many different economic perspectives. One is that the stimulus would help the economy. The fact that the economy was worse than ever in the past year doesn't mean that it must be better than it would have been without the stimulus unless you're a die-hard advocate of that perspective.

    But claiming that it avoided a depression is ridiculous by all economic standards, since, as has been pointed out, only a small portion of the money was actually spent this year.

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    Re: Economy soars 5.7 percent, fastest in 6 years

    Quote Originally Posted by randel View Post
    nice dodge, but i am asking what you think.......
    it wasn't a dodge, i answered you honestly

    your question was, do i expect things to turn around like a finger snap

    we'd be well out of this mess by now with competent leadership

    your particular view and mine don't really count much

    it's what america's saying that matters, and i endorse their demands

    fix this economy, mr president, or say goodbye

    of course, one could always ask mr obama what he thinks

    tho you really don't have to, he'll be telling you within the next 5 minutes

    in venues as far afield as american idol's time slot, the copenhagen olympics conference, oprah, the nobel ceremonies in oslo, the top of a pyramid in cairo...

    he's ubiquitous

    he'll probably be showing up at your next staff meeting to tell you all the things you've done wrong and ask you to come, join him

    but, like i said, you won't really have to ask him, he'll tell you

    he thinks he gets a B+

    A- when health care passes

    remember?

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    Re: Economy soars 5.7 percent, fastest in 6 years

    FOXNews.com - Watchdog: Bank Bailouts Created More Risk in System


    We could be in big trouble. TARP may have sealed our fate.




    The government's bailout of financial institutions deemed "too big to fail" has created a risk that the United States could face a worse fiscal meltdown in the future, an independent watchdog assigned to review the program told Congress on Sunday.

    The Troubled Assets Relief Program, known as TARP, has not addressed the problems that led to the last crisis and in some case those problems have festered and are a bigger threat than before, warned Neil Barofsky, the special inspector general at the Treasury Department.

    "Even if TARP saved our financial system from driving off a cliff back in 2008, absent meaningful reform, we are still driving on the same winding mountain road, but this time in a faster car," Barofsky wrote.

    Barofsky wrote the $700 billion financial bailout has encouraged more risk-taking because bank executives, who are still receiving massive bonuses, figure the government will come to the rescue the next time they steer their ships nearly aground.

    "The market mentality now seems fixed that the U.S. government will continue to step in and bail out giant financial institutions," said Sen. Susan Collins, R-Maine, ranking member of the Senate Homeland Security and Governmental Affairs Committee. "The IG's findings confirm my decision to oppose releasing $350 billion in TARP funds last year and my recent vote to terminate the program altogether."

    "The SIGTARP's report is just another reminder of how Congress and the administration have ignored the role that politics and government played in causing the housing crisis and the economic collapse while pursing other regulatory reforms will not fix the underlying problem," said Rep. Darrell Issa, R-Calif., the ranking member on the House Oversight and Government Reform Committee.

    The inspector general's report details stonewalling by the Treasury Department over a recommendation that walls be built between managers of the public-private investment program, which uses taxpayer cash to buy bad assets, and employees of the fund management companies which sell the toxic assets.

    Barofsky's report outlined 77 cases of possible criminal and civil fraud, including crimes of tax evasion, insider trading, mortgage lending and payment collection, false statements and public corruption.

    One case concerns apparent self-dealing by one of the private fund managers Treasury picked to buy bad assets from banks at discounted prices. A portfolio manager at the firm apparently sold a bond out of a private fund, then repurchased it at a higher price for a government-backed fund.

    A rating agency had just downgraded the bond, so it likely was worth less, not more, when the government fund bought it. The company is not being named pending the outcome of Barofsky's investigation.

    Treasury said it welcomed Barofsky's oversight but resisted the call to erect new barriers against conflicts of interest. The new rules "would be detrimental to the program," Treasury spokeswoman Meg Reilly said in a statement. The existing compliance rules "are a rigorous and effective method of protecting taxpayers," sh
    Last edited by USA_1; 01-31-10 at 12:37 PM.
    "This Administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is in our national interest that more people own their own home. After all, if you own your own home, you have a vital stake in the future of our country."" GWB

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    Re: Economy soars 5.7 percent, fastest in 6 years

    Quote Originally Posted by USA-1 View Post
    Natural gas is expanding everyday, we use more coal now than ever before in history, oil exploration and production has been reduced as a function of lower prices and reduced demand, we have surpluses in just about every crop we grow. These commodities are based on supply and demand and are not really part of the problem.
    The steel industry pretty much moved overseas decades ago along with much of our manufacturing base. They told us that would be good for us.
    USA about our agriculture and the over regulation and strangulation of the family farmer, which does effect our economy.
    American Agriculture and the Family Farm

    The oil industry which our family has been a part of since the beginning of the last century, is now over regulated, over taxed and demonized. Drilling here in the U.S. is at a minimum. This can be easily researched, not to mention it's always on the news. Drill here and drill now with minimal environmental effects will keep our economy stable and fuel cheap.

    Steel industry suffered because of trade, unions, regulation and taxes, not saying to eliminate all policies but, it can be adjusted to where everyone could be happy.

    Free trade, NAFTA and tariffs need to be reworked to our benefit but not at the cost of losing our trading partners. To many hands in the pot spoils the stew, which is what is currently going on.

    I hit a lot of industries of different types in the course of my work, I get to meet many owners and the complaints are all the same..over taxed, over regulated.

  6. #36
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    Re: Economy soars 5.7 percent, fastest in 6 years

    Quote Originally Posted by deltabtry View Post
    The oil industry which our family has been a part of since the beginning of the last century, is now over regulated, over taxed and demonized. Drilling here in the U.S. is at a minimum. This can be easily researched, not to mention it's always on the news. Drill here and drill now with minimal environmental effects will keep our economy stable and fuel cheap.
    .
    How are you going to get US oil companies to drill more? They have cut back production since demand has dropped. Cheap oil leads to cuts in production.
    Oil and agriculture may be taxed but they are still the most subsidized industries in the country.

    I laugh every time someone actually believes that oil companies exist to provide us with cheap gas.


    I am over taxed too.
    "This Administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is in our national interest that more people own their own home. After all, if you own your own home, you have a vital stake in the future of our country."" GWB

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    Re: Economy soars 5.7 percent, fastest in 6 years

    The other shoe is about to fall. The collapse of the commercial real estate sector is just around the corner.

    Desolate malls, empty offices may come soon - Real estate- msnbc.com

    Banks face up to $300 billion in losses on loans made for commercial property and development, according to a report released Thursday by the Congressional Oversight Panel. The panel monitors the government's efforts to stabilize the financial system.
    "This Administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is in our national interest that more people own their own home. After all, if you own your own home, you have a vital stake in the future of our country."" GWB

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