Obama is the president elect Please use this thread to talk about and discuss it

sickboy

Active Member
I hate to break it to ya, but the economy was in the toilet a long time ago. It has nothing to do with Obama's win, hoarding republicans (
, really, I don't think anyone would ruin the country to prove a point), or anything else that has been stated above. If the economy was doing SO good in the first quarter, why was there an economic stimulus plan??? You don't stimulate an economy that doesn't need it! It is true that we are not "technically" in a recession, that will be at the end of the next quarter when GDP is negative...Again. But, really, why do we put so much emphasis on GDP? Its quite out-dated. As we move from a production economy to a service economy, why base our definitions on something that only encompasses part of the economy? Our definitions need to be updated. This is especially true when you look at unemployment numbers for the year....but yet, by definition, we aren't in a recession. Crazy! Also, the toll of $4/gallon gas had a devastating effect on disposable income, including summer time vacation travel in which a ton of people pump up tourist area economies.
to sum it up, our economy has been falling ALL year, and it was going to happen. With a global economy, how do you not plunge into a recession when the world does??
 

sickboy

Active Member
Originally Posted by Veni Vidi Vici
http:///forum/post/2833823
"What goes up eventually comes down"
I see what you're getting at, but this phrase does not apply. If it did we would be seeing exponential declines to match the exponential increases.
Or are you saying that our entire economy, country with it, will completely fail to exist? Then this phrase would apply.
Semantics, I know, but really doesn't make much sense.
 

reefraff

Active Member
Originally Posted by bionicarm
http:///forum/post/2832903
Sure they can. The company I'm working for right now is a major supplier for Ford, Chrysler, GM, and several other automotive industry companies. I see first hand what these companies need and can do. GM and Ford both would get more aggressive with building the 'green cars', but in order to do it, they have to completely retool their plants. They just don't have the capital to do it. I agree with you that they need to revamp their work force. It's time to put the UAW out of its misery, and pay reasonable salaries to the employees based on their job functions. Toyota built their new Tundra plant here in San Antonio, and I know several people working there. No unions, and pay is based on job title and work performance.

Ford is in a good spot compared to GM. It's going to kill either to retool right now. Speaking of tools I suspect Buffet will own a very large chunk of one of these co's before too long.
I think one way to work this out would be to reduce emission standards on any car that gets better than 40 MGP. If you remove the converters and a bunch of other crap you can bring the efficiency up while not really increasing and probably decreasing CO if thats really the big concern which I don't think it is. You make a car that is affordable and gets better than 40 it will get a lot of older crap off the roads once gas prices go back up
Of course the wife got gas today for $1.99
 

stdreb27

Active Member
Originally Posted by bionicarm
http:///forum/post/2833799
You tell me. You sound like an economist. Why is the economy in such a downturn now? What's the logic behind it? Why are businesses dropping like flies, and unemployment is creeping higher and higher each month? Actually the economy has be going down for the last 2 or 3 years - around the same time the Democrats took control of Congress. So is that because the Demos totally screwed us over, or is it because, again, the Republicans became so paranoid that they would start another Carter Regime, they all slowed down their spending? Better to hang onto it than let the Democrats take it in taxes. Can one political party have that much influence on the economy? If you say yes, then it's time we disband them altogether.
I'm waiting for the magical solution. It doesn't make any sense to me. In the last 6 - 8 months, this country has been on a downward spiral that doesn't appear to have the ability to recover. I was hoping that it was because of this stupid Presidential election, and that it would start turning around after it was over. Apparently that's not the case. I don't have a clue what it will take to flip the switch the other direction. You guys seem to think you're the experts. You got the answers, head to Washington and change the rules.
It isn't in that bad of shape. And it is not one of the options above. Second, take a little gambit through history. We today are no where near the the numbers we had during the depression with 25% unemployment. Or during the 70's with double digit inflation and unemployment.
There is no immediate magic solution. What you are starting to see is government involvement in industry starting to take its toll. For instance in the home lending industry. The federal government created two "companies" that purchased high risk home loans. They didn't pay a whole lot as far as interest. But basically guaranteed they'd buy them. So brokers and lenders made the loans. Since they didn't get a whole lot for them interest wise and there was lots of competition likewise almost no risk for them. They made the loans. The problem was, since they had almost no risk they priced it accordingly. While these two quazi-government entities bought more and more. Congress and other regulatory bodies turned a blind eye to the accounting practices of these two companies not in the business of making money for the company. Then these 2 companies started selling securities bundling these high risk loans and calling it a risk less investment. And priced it accordingly. They cooked their books so it looked like they were worth more than they were. Banks bought the risk less investment. Insurance companies insured the loans. The problem was the "homeowners" couldn't pay their loans. So these risk less securities where worth nothing. Banks were left holding nothing but paper. And these two quazi-government companies got billions in bailout money. Their CEO's walked out of there with their golden parachutes, their board members have been appointed to high levels of government, advised presidential candidates.
All the while doing almost the exact same thing as Ken Lay. Only Enron was small fish compared to this.
Then you get a culmination of the media complaining about the economy for the last 8 years. The banks won't lend money. There won't be any credit. This will destroy retailer. So the average american says well I'm not going to even try. (perception of a shortage will make people hoard)
There is no magic bullet the free market must be allowed to correct the market failure caused by artificially changing risk in the market. And not pricing the product to allow for failure. It takes some time.
As for unemployment, 6.5% isn't horrible it isn't great but isn't horrible.
Business fail every day. Lots of them, more fail than make it. It is part of the game. Demands change the markets change, and business who don't stay ahead of the curve and fail to change with it fail.
I'll head to washington but I'm not old enough to run for federal office yet...
Now Circuit City they are just in a mature industry that won't support that many retailers. It has very little to do with the economy.
 

sickboy

Active Member
Originally Posted by stdreb27
http:///forum/post/2833886
It isn't in that bad of shape. And it is not one of the options above. Second, take a little gambit through history. We today are no where near the the numbers we had during the depression with 25% unemployment. Or during the 70's with double digit inflation and unemployment.
There is no immediate magic solution. What you are starting to see is government involvement in industry starting to take its toll. For instance in the home lending industry. The federal government created two "companies" that purchased high risk home loans. They didn't pay a whole lot as far as interest. But basically guaranteed they'd buy them. So brokers and lenders made the loans. Since they didn't get a whole lot for them interest wise and there was lots of competition likewise almost no risk for them. They made the loans. The problem was, since they had almost no risk they priced it accordingly. While these two quazi-government entities bought more and more. Congress and other regulatory bodies turned a blind eye to the accounting practices of these two companies not in the business of making money for the company. Then these 2 companies started selling securities bundling these high risk loans and calling it a risk less investment. And priced it accordingly. They cooked their books so it looked like they were worth more than they were. Banks bought the risk less investment. Insurance companies insured the loans. The problem was the "homeowners" couldn't pay their loans. So these risk less securities where worth nothing. Banks were left holding nothing but paper. And these two quazi-government companies got billions in bailout money. Their CEO's walked out of there with their golden parachutes, their board members have been appointed to high levels of government, advised presidential candidates.
All the while doing almost the exact same thing as Ken Lay. Only Enron was small fish compared to this.
Then you get a culmination of the media complaining about the economy for the last 8 years. The banks won't lend money. There won't be any credit. This will destroy retailer. So the average american says well I'm not going to even try. (perception of a shortage will make people hoard)
There is no magic bullet the free market must be allowed to correct the market failure caused by artificially changing risk in the market. And not pricing the product to allow for failure. It takes some time.
As for unemployment, 6.5% isn't horrible it isn't great but isn't horrible.
Business fail every day. Lots of them, more fail than make it. It is part of the game. Demands change the markets change, and business who don't stay ahead of the curve and fail to change with it fail.
I'll head to washington but I'm not old enough to run for federal office yet...
Now Circuit City they are just in a mature industry that won't support that many retailers. It has very little to do with the economy.
+1 on all of this
Originally Posted by stdreb27

http:///forum/post/2833886
All the while doing almost the exact same thing as Ken Lay. Only Enron was small fish compared to this.
This is the real kicker isn't it!?! Just change fake partnerships with THE GOVERNMENT, and it is exactly the same.
 

stdreb27

Active Member
Originally Posted by sickboy
http:///forum/post/2833931
+1 on all of this
This is the real kicker isn't it!?! Just change fake partnerships with THE GOVERNMENT, and it is exactly the same.
It completely blows my mind. Enron didn't make a splash on the national economy. Hardly dented the houston economy. This has slowed down and freaked out the national economy.
 

bionicarm

Active Member
Originally Posted by stdreb27
http:///forum/post/2833886
It isn't in that bad of shape. And it is not one of the options above. Second, take a little gambit through history. We today are no where near the the numbers we had during the depression with 25% unemployment. Or during the 70's with double digit inflation and unemployment.
There is no immediate magic solution. What you are starting to see is government involvement in industry starting to take its toll. For instance in the home lending industry. The federal government created two "companies" that purchased high risk home loans. They didn't pay a whole lot as far as interest. But basically guaranteed they'd buy them. So brokers and lenders made the loans. Since they didn't get a whole lot for them interest wise and there was lots of competition likewise almost no risk for them. They made the loans. The problem was, since they had almost no risk they priced it accordingly. While these two quazi-government entities bought more and more. Congress and other regulatory bodies turned a blind eye to the accounting practices of these two companies not in the business of making money for the company. Then these 2 companies started selling securities bundling these high risk loans and calling it a risk less investment. And priced it accordingly. They cooked their books so it looked like they were worth more than they were. Banks bought the risk less investment. Insurance companies insured the loans. The problem was the "homeowners" couldn't pay their loans. So these risk less securities where worth nothing. Banks were left holding nothing but paper. And these two quazi-government companies got billions in bailout money. Their CEO's walked out of there with their golden parachutes, their board members have been appointed to high levels of government, advised presidential candidates.
All the while doing almost the exact same thing as Ken Lay. Only Enron was small fish compared to this.
Then you get a culmination of the media complaining about the economy for the last 8 years. The banks won't lend money. There won't be any credit. This will destroy retailer. So the average american says well I'm not going to even try. (perception of a shortage will make people hoard)
There is no magic bullet the free market must be allowed to correct the market failure caused by artificially changing risk in the market. And not pricing the product to allow for failure. It takes some time.
As for unemployment, 6.5% isn't horrible it isn't great but isn't horrible.
Business fail every day. Lots of them, more fail than make it. It is part of the game. Demands change the markets change, and business who don't stay ahead of the curve and fail to change with it fail.
I'll head to washington but I'm not old enough to run for federal office yet...
Now Circuit City they are just in a mature industry that won't support that many retailers. It has very little to do with the economy.
Sounds like you knwo what you talking about to me. Not old enough? You over 18, you're old enough. I saw an article just the other day that the new Obama Administration is looking for hundreds of new people to join in on 'The Change'. The only trick to getting a job is the old 'who you know' network. Gotta suck up to some politician or flunky. Give it a shot. Maybe one day we'll call you Senator...
 

stdreb27

Active Member
Originally Posted by bionicarm
http:///forum/post/2834040
Sounds like you knwo what you talking about to me. Not old enough? You over 18, you're old enough. I saw an article just the other day that the new Obama Administration is looking for hundreds of new people to join in on 'The Change'. The only trick to getting a job is the old 'who you know' network. Gotta suck up to some politician or flunky. Give it a shot. Maybe one day we'll call you Senator...
yeah 2 things not going to work in the obama admin no matter what. 2nd, gotta be what 35 to run for president. Until then I'll pursue the american dream. And be a greedy American.
 

sangria

Member
Originally Posted by stdreb27
http:///forum/post/2834104
yeah 2 things not going to work in the obama admin no matter what. 2nd, gotta be what 35 to run for president. Until then I'll pursue the american dream. And be a greedy American.
+1 I would like to pursue the Republican PR committee, so I will help your campaign.
On the plus side, gun sales are way up.
 

1journeyman

Active Member
Wow...
After 3 years of the liberal media and Democrats in Congress talking about how bad the country is doing, are we now trying to blame Republicans for not spending enough of their money as the cause?
Did that just occur?
 

sangria

Member
Originally Posted by 1journeyman
http:///forum/post/2834604
Wow...
After 3 years of the liberal media and Democrats in Congress talking about how bad the country is doing, are we now trying to blame Republicans for not spending enough of their money as the cause?
Did that just occur?
That just happened.
 

zman1

Active Member
Originally Posted by stdreb27
http:///forum/post/2832484
Someone please explain to me how selling nuclear reactors to the public is a good idea?
It's your free market trade, we don't want governments binding the hands of BUSINESS, do we?
 

stdreb27

Active Member
Originally Posted by zman1
http:///forum/post/2834650
It's your free market trade, we don't want governments binding the hands of BUSINESS, do we?
There is some needed regulation, just like you need cops. But you don't need cops telling me how to cook dinner.
 

reefraff

Active Member
And so it starts
http://blog.cleveland.com/openers/20...irector_s.html
"Ohio suspends official who authorized 'Joe the Plumber' records search
Helen Jones-KelleyCOLUMBUS -- The state official under investigation for authorizing a personal records search of Joe the Plumber has been placed on paid administrative leave.
Ohio Job & Family Services director Helen Jones-Kelley, a supporter of President-elect Barack Obama, was suspended after a check of state computers and state e-mail found connections to political fundraising, which is not allowed on state property"
So lets see if Ohio citizens are stupid enough to allow this woman to remain on the job. She should be out on her ear. This just makes the plumber's lawsuit against the state a slam dunk.
 

stdreb27

Active Member
great now they want to spend even more money bailing out companies that pay people not to work. Stupid Jobs bank.
 

rylan1

Active Member
Originally Posted by stdreb27
http:///forum/post/2833518
Actually it is. Circuit City has been in trouble for around 6 or 7 years now. About 4 years ago they purchased all their stock back and went private. And have been in a "rebuilding mode" since then. Apparently it hasn't worked. Typically electronic stores work on a business model of high turn-over and accessories. Since they have almost no mark up on high dollar items. Literally they make more money selling a 50 dollar cable than they do a 3000 dollar TV. Several major electronics companies are up a creek. Radioshack for example has been struggling for 5 or 6 years. They've been through CEO after CEO they are turning tiny profits and have redone their stores several times. The problem with Radioshack and Circuit city isn't a bad economy. It is bad management, bad product placement, no differentiation between them and other major more popular retailers.
I find it ironic however now it is the Republicans fault for the "bad economy".
You can't honestly think this stuff can you?
I agree... 100% for once
 

veni vidi vici

Active Member
Its getting to civil here:
Fellow Business Executives:
As the CFO of this business that employees 140 people, I have resigned myself to the fact that Barack Obama will be our next President, and that our taxes and government fees will increase in a BIG way.
To compensate for these increases, I figure that the clients will have to see an increase in our fees to them of about 8% but since we cannot increase our fees right now due to the dismal state of our economy, we will have to lay off six of our employees instead.
This has really been eating at me for a while, as we believe we are family here and I didn't know how to choose who will have to go.
So, this is what I did.
I strolled thru our parking lot and found eight Obama bumper stickers on our employees' cars and have decided these folks will be the first to be laid off.
I can't think of a more fair way to approach this problem.
These folks wanted change; I gave it to them. If you have a better idea, let me know.
Sincerely,
Steve Mehyers
 
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