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Thread: Profits soar amid mass layoffs

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    Re: Profits soar amid mass layoffs

    Quote Originally Posted by MrVicchio View Post
    I say rock on for the companies. They are doing what is smart for the business. They don't exist to provide jobs.
    So, let me get this straight...

    The private sector doesn't exist to provide jobs. The government shouldn't do anything to create jobs at the federal level. Where exactly is employment to come from? I guess we should all just go back to running our own farms and making our own cloths.

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    Re: Profits soar amid mass layoffs

    Quote Originally Posted by MrVicchio View Post
    Everytime the "Masses" take from the rich it ends in untold horror, or do you not read history?
    They dont think nor worry nor care about the end result

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    Re: Profits soar amid mass layoffs

    Quote Originally Posted by MrVicchio
    Everytime the "Masses" take from the rich it ends in untold horror, or do you not read history?
    Interesting...

    So, what you're saying is the Great Depression, the 1979 recession, the Housing Bubble and every other mini-recession in between was started by poor people? I think you need to retake your history classes.

    Every time a deep recession ensued in this country it was the result of greed by the wealthiest among us. The working class may have made runs on the banks, but that was only to take out what was rightfully theirs - their savings deposits that they rightly feared would be erraticated. Judging from the sheer volumn of funds lost in hundreds of thousands of 401K plans since the housing bubble burst, I'd say they were justified to demand their money.

    Neither the poor nor the working class had much, if anything, to do with originating such economic crisis. Recheck your historical facts, buddy.
    Last edited by Objective Voice; 07-25-11 at 07:24 PM.

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    Re: Profits soar amid mass layoffs

    Quote Originally Posted by Objective Voice View Post
    So, let me get this straight...

    The private sector doesn't exist to provide jobs. The government shouldn't do anything to create jobs at the federal level. Where exactly is employment to come from? I guess we should all just go back to running our own farms and making our own cloths.
    No, the private sector (does no one else think that's a really stupid term?) exists to make money. Corporate owners only employ more people if they think it will increase profits. They will also fire people, en masse, to accomplish the same goal. Why hire more people when you can simply intimidate someone into doing the job of two or three people? Profits increase, and no more salaries need to be paid. This is, if course, what happened in the last few years. Massive layoffs, and workers poured even more time and energy into their jobs to keep everything running smoothly. Owners realized that they didn't need to replace the people they'd fired. And they still don't. Hence why unemployment is still so high. A corporate leader whose only duty is to increase profits has no need to hire more people.
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    Re: Profits soar amid mass layoffs

    Quote Originally Posted by Objective Voice View Post
    So, let me get this straight...

    The private sector doesn't exist to provide jobs. The government shouldn't do anything to create jobs at the federal level. Where exactly is employment to come from? I guess we should all just go back to running our own farms and making our own cloths.
    That is why I hate this "job creator" meme that the Right is pushing. If the private sector is failing to create jobs for American and it is, then we need to do something about it. How about a massive public works program to fix our crumbling infrastructure for starters. We can pay for it by making the rich who caused this mess pay their fair of taxes or does shared sacrifice really mean shared between the members of the poor and working class?

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    Re: Profits soar amid mass layoffs

    Quote Originally Posted by Paschendale View Post
    No, the private sector (does no one else think that's a really stupid term?) exists to make money. Corporate owners only employ more people if they think it will increase profits.
    By your simplistic analysis, every company should become an investment company or hedge fund manager if all the private sector exists to do is make money. Everyone should just become mathmaticians and work on the trading floor at Wall Street.

    They [corporations] will also fire people, en masse, to accomplish the same goal. Why hire more people when you can simply intimidate someone into doing the job of two or three people? Profits increase, and no more salaries need to be paid. This is, of course, what happened in the last few years. Massive layoffs, and workers poured even more time and energy into their jobs to keep everything running smoothly. Owners realized that they didn't need to replace the people they'd fired. And they still don't. Hence why unemployment is still so high. A corporate leader whose only duty is to increase profits has no need to hire more people.
    I think you're wrong here. Many people lost their jobs not because of some grand purposely plan to thin their payrolls, but rather most did it out of necessity. The markets began to dry up as a result of a lack of consumer demand. Demand for consumer goods and services fell off because those financial entities at the top, i.e., commercial banks and investment companies, i.e., Bear Sterns, Lehman Brothers, Merrill Lynch, etc., all had serious liquidity (capital) problems; these companies lost billions between 2007 and present day. And why did they have these money woes? Because they took on too much risk!!! They were over-leveraged and as a result, the financial markets began to respond accordingly by making short sells on the Dow and NYSE...faster than these banks and investment companies could bring in new revenues to beat back the shorts!!!

    You want to know how real trickle down economics work in the extreme? Well, we're experiencing it right now!!! Those financial entities at the top of the economic food chain started hemorraging capital at a rapid rate and just couldn't raise revenue fast enough to keep up. And before some of them new it, they were filling for bankruptcy or being bought-out by their competitors or forced to close their doors altogether either from a hostile takeover or mandated by the Fed (FDIC). From there, every other company these investment companies and commercial banks touched began to fold. So much so, that even the small mom and pop small businesses began to suffer because they couldn't get loans based on their credit worthiness anymore. The rules of the financial game had changed. Yet, folks blame this change on financial reform regulations - regulations designed to stop big banks from coming back to Treasury begging for more bailouts; regulations designed with the intent to protect the taxpayers and force these too big to fail financial empires from repeating their same unethical "mark-to-market/off-balance sheet" shady accounting practises that do more harm to our nation's economy than they do to protect it.

    You can continue to fool yourself into believing the conservative profitability mantra, but it's a farse! Ask yourself this one very simple question: At what points in our nation's history did our financial system experience extreme chaos? What specifically action occurred that caused things to spiral out of control?

    Now, it is true that when a company begins to experience deep economic problems after they've tried everything else to shore up their balance sheets and generate revenue, that they do start to cut payroll and pink slips begin to fly, but the only time we see unemployment numbers on a massive scale like this is when there has been a severe disruption in our financial markets. Again, ask yourself what is the primary catalyst to these disruptions?
    Last edited by Objective Voice; 07-25-11 at 09:21 PM.

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    Re: Profits soar amid mass layoffs

    Quote Originally Posted by majora$$hole View Post
    or they hire illegals.
    Yes this is true, and it is yet another problem we the people need tor rectify. Fixing the illegal problem I assure you will not run off business like over regulating and a heavy tax burden would.

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    Re: Profits soar amid mass layoffs

    Quote Originally Posted by Objective Voice View Post
    By your simplistic analysis, every company should become an investment company or hedge fund manager if all the private sector exists to do is make money. Everyone should just become mathmaticians and work on the trading floor at Wall Street.
    This is akin to saying that since bacteria are the most successful form of life, complex life should never have evolved. There's a niche for it, just like there's an niche for all the various forms of businesses. People will do anything they think they can make money doing.

    Quote Originally Posted by Objective Voice View Post
    I think you're wrong here. Many people lost their jobs not because of some grand purposely plan to thin their payrolls, but rather most did it out of necessity. The markets began to dry up as a result of a lack of consumer demand. Demand for consumer goods and services fell off because those financial entities at the top, i.e., commercial banks and investment companies, i.e., Bear Sterns, Lehman Brothers, Merrill Lynch, etc., all had serious liquidity (capital) problems; these companies lost billions between 2007 and present day. And why did they have these money woes? Because they took on too much risk!!! They were over-leveraged and as a result, the financial markets began to respond accordingly by making short sells on the Dow and NYSE...faster than these banks and investment companies could bring in new revenues to beat back the shorts!!!

    You want to know how real trickle down economics work in the extreme? Well, we're experiencing it right now!!! Those financial entities at the top of the economic food chain started hemorraging capital at a rapid rate and just couldn't raise revenue fast enough to keep up. And before some of them new it, they were filling for bankruptcy or being bought-out by their competitors or forced to close their doors altogether either from a hostile takeover or mandated by the Fed (FDIC). From there, every other company these investment companies and commercial banks touched began to fold. So much so, that even the small mom and pop small businesses began to suffer because they couldn't get loans based on their credit worthiness anymore. The rules of the financial game had changed. Yet, folks blame this change on financial reform regulations - regulations designed to stop big banks from coming back to Treasury begging for more bailouts; regulations designed with the intent to protect the taxpayers and force these too big to fail financial empires from repeating their same unethical "mark-to-market/off-balance sheet" shady accounting practises that do more harm to our nation's economy than they do to protect it.

    You can continue to fool yourself into believing the conservative profitability mantra, but it's a farse! Ask yourself this one very simple question: At what points in our nation's history did our financial system experience extreme chaos? What specifically action occurred that caused things to spiral out of control?
    I don't think you addressed his point. All those things you listed are what caused the recession in the first place. Now, some businesses are starting to pick up again, but they're not hiring more people. They've learned they can get the same work out of fewer people, so why hire more? It's a self perpetuating cycle, because as long as there's a large pool of unemployed workers, businesses will be able to get more work for less pay out of the workers they do have.
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    Re: Profits soar amid mass layoffs

    Quote Originally Posted by Objective Voice View Post
    By your simplistic analysis, every company should become an investment company or hedge fund manager if all the private sector exists to do is make money. Everyone should just become mathmaticians and work on the trading floor at Wall Street.



    I think you're wrong here. Many people lost their jobs not because of some grand purposely plan to thin their payrolls, but rather most did it out of necessity. The markets began to dry up as a result of a lack of consumer demand. Demand for consumer goods and services fell off because those financial entities at the top, i.e., commercial banks and investment companies, i.e., Bear Sterns, Lehman Brothers, Merrill Lynch, etc., all had serious liquidity (capital) problems; these companies lost billions between 2007 and present day. And why did they have these money woes? Because they took on too much risk!!! They were over-leveraged and as a result, the financial markets began to respond accordingly by making short sells on the Dow and NYSE...faster than these banks and investment companies could bring in new revenues to beat back the shorts!!!

    You want to know how real trickle down economics work in the extreme? Well, we're experiencing it right now!!! Those financial entities at the top of the economic food chain started hemorraging capital at a rapid rate and just couldn't raise revenue fast enough to keep up. And before some of them new it, they were filling for bankruptcy or being bought-out by their competitors or forced to close their doors altogether either from a hostile takeover or mandated by the Fed (FDIC). From there, every other company these investment companies and commercial banks touched began to fold. So much so, that even the small mom and pop small businesses began to suffer because they couldn't get loans based on their credit worthiness anymore. The rules of the financial game had changed. Yet, folks blame this change on financial reform regulations - regulations designed to stop big banks from coming back to Treasury begging for more bailouts; regulations designed with the intent to protect the taxpayers and force these too big to fail financial empires from repeating their same unethical "mark-to-market/off-balance sheet" shady accounting practises that do more harm to our nation's economy than they do to protect it.

    You can continue to fool yourself into believing the conservative profitability mantra, but it's a farse! Ask yourself this one very simple question: At what points in our nation's history did our financial system experience extreme chaos? What specifically action occurred that caused things to spiral out of control?

    Now, it is true that when a company begins to experience deep economic problems after they've tried everything else to shore up their balance sheets and generate revenue, that they do start to cut payroll and pink slips begin to fly, but the only time we see unemployment numbers on a massive scale like this is when there has been a severe disruption in our financial markets. Again, ask yourself what is the primary catalyst to these disruptions?
    Allow me to add to his post; private companies exist to make money...providing goods and services.

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    Re: Profits soar amid mass layoffs

    Quote Originally Posted by U.S. Socialist. View Post
    That is why I hate this "job creator" meme that the Right is pushing. If the private sector is failing to create jobs for American and it is, then we need to do something about it.
    What should be done about it?


    [/b]How about a massive public works program to fix our crumbling infrastructure for starters.[/b] We can pay for it by making the rich who caused this mess pay their fair of taxes or does shared sacrifice really mean shared between the members of the poor and working class?
    How do you intend on paying for that, exactly? You won't be able to do it by just taxing the rich. You're going to have to tax middle class folks, too. How-da-ya think that's going to go over? Why does the Left have such a disconnect between tax revenue and revenue generation? Why don't you see that the easiest--and most politically expedient way--to create more tax revenue is help the private sector create more taxable revenue?

    Nice use of the, "crumbling infrastructure", scare tactic talking point, too, BTW.

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