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Thread: Obama says GOP making life harder for the jobless

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    Re: Obama says GOP making life harder for the jobless

    Quote Originally Posted by MrVicchio View Post
    Yes because that was all I was talking about. And yes, the Gov't backed TARP and other economic gimmicks DID and ARE screwing things up. Short term save, long term damage. Way to go.
    Because you say they are?
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    Re: Obama says GOP making life harder for the jobless

    Quote Originally Posted by obvious Child View Post
    I'd love to see an explanation of how stabilization of credit markets, the prevention of fire sales of financial assets, the reduction of the TED rate to normal levels, resumption of normal money velocity, tax cuts, bonus depreciation and other incentives to invest made things worse.

    But what do I know? I work in the financial related industry. Let's just ask those with no actual knowledge beyond what they get from Fox.
    Being part of the financial industry can mean anything from a bank teller to the CEO of Citi, so broad that is seems meaningless.

    What exactly did Obama do to stabilize the credit markets? Not sure if you are close on money velocity either. If velocity was normal then we would be worrying about inflation which we are not.

    Tax cuts were one time hand outs, not sure people agree this helped in relation to it's cost. Bonus depreciation helps little with the slack we have in factory utilization.

    Not saying that these things did not help at all. I am saying that there is room for disputing whether we got value for the $ 800 billion.

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    Re: Obama says GOP making life harder for the jobless

    Quote Originally Posted by MrVicchio View Post
    Yes because that was all I was talking about. And yes, the Gov't backed TARP and other economic gimmicks DID and ARE screwing things up. Short term save, long term damage. Way to go.
    I'll be nice and let you off with one:

    Okay, tell me how stabalizing the credit markets made things worse. Go!
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Obama says GOP making life harder for the jobless

    Quote Originally Posted by washunut View Post
    Being part of the financial industry can mean anything from a bank teller to the CEO of Citi, so broad that is seems meaningless.
    Go search my posts.

    What exactly did Obama do to stabilize the credit markets? Not sure if you are close on money velocity either. If velocity was normal then we would be worrying about inflation which we are not.
    Honestly, it was more Ben then Obama. Fiscal policy generally is too slow. And money velocity now isn't near one, but it's better then what it was before.

    Tax cuts were one time hand outs, not sure people agree this helped in relation to it's cost.
    The tax cuts I believe did help many people make it through the short run, especially as it went to paying bills. That alone is beneficial.

    Bonus depreciation helps little with the slack we have in factory utilization.
    Sorta. Bonus depreciation simply moves demand from period 2 into period 1. By itself it cannot do much, but it in theory acts as a jump start. There is a difference though between Bush's and Obama's. Bush's was during an era where corporations were literally sitting on mountains of money. Quite literally mountains. Not so much the case today. Especially when many states don't allow bonus like they did in 2002. Quite literally the same text, but different environmental conditions. But it likely did help some.

    Not saying that these things did not help at all. I am saying that there is room for disputing whether we got value for the $ 800 billion.
    Of course. But I think you as much as I know that there are few good, if any good tools for dealing with financial crisises, especially the liquidity related ones. Some people seem to think that all recessions are the same and all can be treated the same.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Obama says GOP making life harder for the jobless

    Quote Originally Posted by Redress View Post
    Because you say they are?
    That's pretty much the extent of his arsenal of weapons.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Obama says GOP making life harder for the jobless

    Quote Originally Posted by obvious Child View Post
    Go search my posts.
    Ugh don't be that guy. Dont ask someone to search your posts for something you can say straight away about you personally, just say it.

    Its exceedingly arrogant and unnecessary.
    Last edited by texmaster; 06-20-10 at 02:44 AM.
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    Re: Obama says GOP making life harder for the jobless

    Quote Originally Posted by obvious Child View Post
    Go search my posts.










    Sorta. Bonus depreciation simply moves demand from period 2 into period 1. By itself it cannot do much, but it in theory acts as a jump start. There is a difference though between Bush's and Obama's. Bush's was during an era where corporations were literally sitting on mountains of money. Quite literally mountains. Not so much the case today. Especially when many states don't allow bonus like they did in 2002. Quite literally the same text, but different environmental conditions. But it likely did help some.
    As you know corporations are sitting on record amounts of cash even now.


    Of course. But I think you as much as I know that there are few good, if any good tools for dealing with financial crisises, especially the liquidity related ones. Some people seem to think that all recessions are the same and all can be treated the same.
    I agree that is why I think spending the $800 billion, that we have to borrow was more an act of politicians saying we are doing something rather than something that had a lot of benefit to the economy. That money could have been used for stuff like high speed rails r&d for clean energy. Stuff that would have been helpful long term and a bit of a boost short term.

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    Re: Obama says GOP making life harder for the jobless

    Originally Posted by MrVicchio
    Yes because that was all I was talking about. And yes, the Gov't backed TARP and other economic gimmicks DID and ARE screwing things up. Short term save, long term damage. Way to go.
    Because you say they are?
    Quote Originally Posted by Redress View Post
    Because you say they are?
    There was a recent study out of Harvard that showed that when public spending was increased, it ended up forcing out private investment, hiring and spending.

    Stimulus Surprise: Companies Retrench When Government Spends — HBS Working Knowledge
    Last edited by buck; 06-20-10 at 10:43 AM.

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    Re: Obama says GOP making life harder for the jobless

    Quote Originally Posted by Redress View Post
    Because you say they are?
    It's true anecdotally in my family. My cousin who used to work as a teacher and at an art gallery now is unemployed and continues to be unemployed voluntarily. They stated to me that she makes just as much on unemployment as she does working so why work? Her husband continues to work - she collects and will continue to collect as long as the government will allow it.

    As long as the government will pay you not to find another job, and will extend those benefits - why bother?
    “I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on what’s being proposed here, he’d agree with it. He would agree that the First Amendment cannot be absolute.” - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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    Re: Obama says GOP making life harder for the jobless

    In Obama's mind what isn't the GOP responsible for? This is just another hack political comment made by the president.
    When the debate is lost, slander becomes the tool of the loser. -Socrates
    Tired of elections being between the lesser of two evils.

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