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Thread: Obama says GOP making life harder for the jobless

  1. #121
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    Re: Obama says GOP making life harder for the jobless

    Quote Originally Posted by obvious Child View Post
    Perhaps not, but cuttings benefits, including medical insurance which the GOP is pretty much doing by refusing to allow such bills to go forward is making life harder for the jobless.
    Republicans are outnumbered, so they can't stop legislation.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: Obama says GOP making life harder for the jobless

    Quote Originally Posted by drz-400 View Post
    GDP measures output.
    So companies are selling whats in the warehouse while they lay people off

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    Re: Obama says GOP making life harder for the jobless

    Quote Originally Posted by drz-400 View Post
    I am not really cherry picking since he has only been president a year and a half. Also, I think the hope is that the job situation will improve, so we can reduce both spending and increase taxes to pay down the deficit, at least these are my hopes.
    Hopes of who? Not Obama

  4. #124
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    Re: Obama says GOP making life harder for the jobless

    Quote Originally Posted by washunut View Post
    A couple of things. I think Greenspan understood what was allowing the economy o grow. That is why kept interest rates low for so long and allowed leverage at financial institutions to get so high.
    Absolutely. We got fat and happy on cheap interest. Now we are paying for it. It could be argued that without cheap interest, the foundation of the crisis, bad lending wouldn't have happened. When the cost of a few bad loans was negligible due to the immaterial cost of capital but the profits were high with securitization, why not engage in it?

    What is interesting is that this administration, not understanding business is doing what may turn out to be all the wrong things. That is why spending $800 billion is not creating jobs. For example how many jobs were lost in residential and commerical building and everything that surrounds it. It does not matter how many roads we tar over, those jobs won't come back until we burn off the excess supply and get back to a more reasonable building run rate.
    Yes and no. Stimulus spending arguably never works for financial crisises. What does work, but creates larger problems is state backed lending. That and export booms, but that ain't happening when the entire world has the problem.

    Next the new Financial Regulation bill, without saying it is good or bad will have the effect of lowering the capacity of financial institutions to lend. Now that has to hurt not help the recovery. perhaps that is OK as we may need to burn off a bunch of excess debt the country acquired.
    It's going to reduce lending no question, but more regulation of investment banks is needed and even claimed by those who work in the industry. Canada is rockin' because it never allowed its banks to take on the levels of leverage and risk we did. Sure they had slower growth during the boom years, but their portion of the hit was pretty much immaterial. And a good reason why they should not have to pay a global bank tax.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

  5. #125
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    Re: Obama says GOP making life harder for the jobless

    Quote Originally Posted by Ockham View Post
    They are supposed to foster an environment where business and commerce can grow and succeed. That in turn creates jobs and a demand for skills. This in turn increases wealth and share of money as well as provides increase to manufacture.

    Government's "fix" is to get the hell out of the way.
    Which in a financial recession is to have direct state lending. You really want that? How about you go study financial crisies before replying? Thanks.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

  6. #126
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    Re: Obama says GOP making life harder for the jobless

    Quote Originally Posted by NolaMan View Post
    Unemployment benefits already cover basically two years. Since you "work in the financial related industry", please explain how paying people not to work really gives them an incentive to find a job?
    The premise behind unemployment insurance is to provide short term support so to minimize the incentive for segments of the labor market to become underemployed. People with MBA's working as janitors might make good press but it provides little if nothing to short or long term labor markets as such a friction impedes upward income mobility. This case of inefficient allocation does however come with income elasticities, meaning as we examine higher and higher income earners, the ability for unemployment insurance to provide an incentive to minimize underemployment falls dramatically. Higher income friction is commonly a market orientated phenomena; severance packages and competition restriction based compensation (paying soon to be former employees not to work for competing firms) work to minimize employment search frictions/mis-allocation.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Obama says GOP making life harder for the jobless

    Quote Originally Posted by MrVicchio View Post
    I thought you used to be in the Military?

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    Re: Obama says GOP making life harder for the jobless

    Quote Originally Posted by hazlnut View Post
    I thought you used to be in the Military?
    I am a Veteran, and haw does that pertain to this thread at all?
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Obama says GOP making life harder for the jobless

    Quote Originally Posted by Goldenboy219 View Post
    The premise behind unemployment insurance is to provide short term support so to minimize the incentive for segments of the labor market to become underemployed. People with MBA's working as janitors might make good press but it provides little if nothing to short or long term labor markets as such a friction impedes upward income mobility. This case of inefficient allocation does however come with income elasticities, meaning as we examine higher and higher income earners, the ability for unemployment insurance to provide an incentive to minimize underemployment falls dramatically. Higher income friction is commonly a market orientated phenomena; severance packages and competition restriction based compensation (paying soon to be former employees not to work for competing firms) work to minimize employment search frictions/mis-allocation.
    I understand the premise...however I would argue two years is starting to get out of the "short term" arena. What is your definition of "short term"?

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    Re: Obama says GOP making life harder for the jobless

    Quote Originally Posted by MrVicchio View Post
    I am a Veteran, and haw does that pertain to this thread at all?
    Well, since your comment in the OP had nothing really to do with the article or didn't even offer any real insight into your position one way or the other...

    I had to decide whether to comment on the article or your meaningless talking-point comment in the OP.

    I decided to comment on your ironically tragic comment ...

    Quote Originally Posted by MrVicchio View Post
    Gov't is not the answer Barack.
    Sounds funny coming from a Veteran.

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