jimmydanger wrote:* Existing home sales jumped almost ten percent last month
What percentage went into foreclosure though? And how many of those sales were investors buying foreclosures, because the market had tanked and the homes were steals?
jimmydanger wrote:* Companies are starting to be profitable again. http://www.clickondetroit.com/news/21475044/detail.html
This is inevitable bro, because they have CUT JOBS and CLOSED STORES and CUT OVERHEAD. This is good for the company but NOT the work force. Because SOME profits have returned does not immediately equate to renewed expansion. They will be leery of expansion in this kind of economy, when they just now cut back and closed all those stores. You won't see those jobs coming back for a while.
jimmydanger wrote:* 650k jobs have been created in the last year, a drop in the bucket compared to how many have been lost but a start. http://www.clickondetroit.com/money/214 ... etail.html
This is also misleading. And in Obamaspeak, these are jobs that have been SAVED "or" created, not just created. Every reliable economist I have read about this report, whether liberal or conservative, say this is bogus math, because there is NO WAY to really know whether a job was really "saved" or not in most cases. And also, it is possible that the jobs were coounted 3 times in some cases. When the same company has 3 contracts from the government, and will use the SAME workers on each back-to-back project, the Obamites will count all three as if they were different workers.
And you are right. Jobs are still being LOST and not a net gain realized. It's like saying "Thank you! I was burning to death at the rate of 1 inch per minute... and now I am only burning to death at the rate of 1/4 inch per minute!" - I'm still burning to death... just more slowly.
jimmydanger wrote:* the stock market jumped 200 points yesterday on favorable economic indicators. My IRA has gone up 20k in the last year.
Once again, this is inevitable. The recession has lasted two years now, and the stocks TANKED. They SHOULD rally and rebound some, when they get that low. But losing 50% of the value of investments and then getting 15% of that back, is still a NET LOSS, and not praiseworthy: "Hey look, stocks have risen 15% under Obama!" - Sure, after they lost 25% under him first.
I have a feeling that more will be recovered. It is inevitable that there will be a temporary injection for the economy when half a trillion dollars is pumped into it. There is another half a trillion to go, so things will rise TEMPORARILY once more, through part of next year, but then what?
It is like me giving my child $50 to spend.
Great.
He may spend it in a day, or take a week to do it. But when he has spent it, then what? He is back to the same situation. Spending borrowed money DOES NOT create BUSINESSES. It reallocates AMERICAN TAXPAYER'S MONEY to pay for someone to work on a road for 3 to 6 months. We are paying for a worker to have a job for a few months. We are not building NEW BUSINESSES. So when the money is spent. What replaces that?
Nothing. Cause the government gets money from OUR TAXES. The government is NOT A BUSINESS that can CREATE WEALTH. It can only TAKE our money.
The American people have subsidized temporary jobs for OTHER PEOPLE and also subsidized that rabidly liberal agenda of the most socialistic of Democratic lawmakers. It's like the government going through our homes and stealing everything we have, and then spending it on whimsical desires of their own. Why shouldn't they? They didn't earn that money did they? They stole it. It's Sooooo easy to piddle away money that YOU didn't have to work for.
They have NO CLUE to what makes businesses successful. They are usually NOT businessmen. They are career politicians. They don't know how to run a businesses, or how to create wealth. They only know GOVERNMENT giveaways and handouts. But it is OUR MONEY that the government is giving away and handing out.
This is a recipe for disaster. It is like WAR. Countries fare well DURING war, cause they are borrowing money and everyone is working and factories are producing. But AFTER the wars, bad times come, because those debts become due, and there is a big crash when that reality sets back in. You cannot be in a state of war forever and you cannot borrow money forever. It is BUSINESSES that CREATE JOBS that are sustainable, and when you punish businesses, they WILL NOT RISK what little profits the government lets them keep, in order to expand and create MORE jobs. It is simply not enough disposable cash available, to risk all the overhead involved with opening a new store or location.
Obamanomics policies are BAD for businesses, and BAD for growth, and BAD for the economy. Spending billions on roads will last a number of months. The roads get built and then what? More borrowing? China doesn't want to hold any more of our debt.
You cannot punish businesses for being successful. You cannot punish wealthy people for having wealth. It is DIAMETRICALLY OPPOSED to the goals we want to instill in others. Work harder and save more and what happens? The government will take MORE of what you have. Is that a goal which will inspire greater work and sacrifice in potential entrepeneurs? Hell no. That makes me NOT want to work toward more wealth. Cause I won't be able to ENJOY or PASS DOWN TO MY CHILDREN that wealth. The government is just going to take it from me, and pass it out to the lazy among us, who prefer STEALING to hard work and responsibility.
What is wrong with Americans today?
They have forgotten the values of hard work and savings and planning for their futures. It is NOT a wealthy person's fault that they may have scrimped and saved to build a business, and you didn't. It is not an educated person's fault that they went to college and you didn't. Stop trying to STEAL the fruit of the responsibility of others, to make up for the fact that you spent your money on parties and movies and car loans and everything else, rather than sacrificing for 5 or 10 years to have a better life, and one that would provide security for the rest of your life.
I have to work.
My wife has to work.
My mother, who is now in her 60's has to work.
It is not Bush's fault that we didn't prepare for retirement and make better and more sound financial choices.
That was OUR FAULT.
No one else's.
.
