The Stimulus Seems to have failed

[lomiller]

"Maybe someone can ask the president during his imminent press conference what happened to the unemployed population"? Because the Stimulus certainly hasn't helped them.

So receiving UI benefits doesn't help tge unemployed? Interesting conjecture...

 

[BeAChooser]

http://www.telegraph.co.uk/news/wor...s-of-unemployment-being-new-normal-in-US.html

Barack Obama warns of unemployment being 'new normal' in US

So how that stimulus been working for you folks?

 

[BeAChooser]

http://conservativeamerican.org/conservatives/obamas-lost-decade/

Oama’s Lost Decade

… snip …

President Barack Obama and his economic team have decided to follow Japan’s economic path… the same one that resulted in Japan’s “Lost Decade!” Obama wants to be re-elected so badly, that he and Ben Bernanke at the Federal Reserve Bank are proceeding with methods they think will improve the economy quickly. That’s the catch though, this quick fix (if it even works) leads to long-term nightmares. Obama gains, U.S. pains.

 

[BeAChooser]

http://www.guardian.co.uk/environment/2010/nov/10/barack-obama-green-stimulus

Barack Obama's green stimulus plan fails to deliver the money

Less than half of the money has been distributed for energy and environment projects that promised to boost America's green economy

And that half didn't come close to creating/saving half the jobs those projects were supposed to create/save.

For example …

http://katypundit.com/news/hotair-s...down-the-drain-in-california-in-“green-jobs”/

The Obama administration made Solyndra, a solar-power manufacturing company, a symbol of its “green jobs” push in the Porkulus program. Barack Obama himself toured the factory, as did Barbara Boxer. Taxpayers ended up sinking $535 million into building Solyndra a new facility that promised to add jobs in the clean-energy sector. Instead, now that Solyndra has its new facility, it’s closing another older facility and will lay off dozens of employees and cancel the contracts for 150 more contract workers

In other words, new digs paid for by US taxpayers ... and fewer jobs. Go figure.

 

[BeAChooser]

http://www.washingtontimes.com/news/2010/nov/5/the-anatomy-of-stimulus-failure/

SCHILLER: The anatomy of (stimulus) failure

Obama's plan wasn't a mistake, it was a hoax from the beginning

November 5, 2010

 

[BeAChooser]

http://www.realclearpolitics.com/articles/2010/11/15/learning_from_japans_mistakes_107948.html

November 15, 2010

Learning From Japan's Mistakes

… snip …

Japan's economic problems, like ours, originated in huge asset "bubbles." … snip …

Despite massive stimulus, rapid growth hasn't resumed two decades later. … snip ...

Neither the White House nor Congress seems to understand that growing regulatory burdens and policy uncertainties undermine business confidence and the willingness to expand. Unless that changes, our mediocre recovery may mimic Japan's.

 

[fallout]

There's no recovery, there's a recession, or depression if you will. Things will only get worse, way worse.

Dumping 600billion into the corrupt banking system without disclosing where the money goes, will result in ~5,4 trillion toilet-paper greenies onto the system via fractional reserve lending.

End the FED, it's long overdue. Jail Bernanke, Hank Paulson, Geithner, Greenspan, Blankfein, Dimon and all the crooks who are responsible for this coup.

 

[BeAChooser]

http://biggovernment.com/wshughart/2010/11/22/how-epa-could-destroy-7-3-million-jobs-2/

Here we are, with 15 million Americans unemployed and millions more underemployed, and the EPA is moving blindly ahead with new regulations that will increase dramatically the energy costs of U.S. industries, reducing their competitiveness and profitability, and making it less likely they will hire.

… snip …

A study by the Manufacturers Alliance/MAPI, a 75-year old organization that provides economic research and training for business executives, warns that the new standard would destroy an estimated 7.3 million jobs nationwide and add $1 trillion annually in new regulatory costs beginning in 2020.

Where's the stimulus in this? Hmmmmm?

 

[BeAChooser]

http://www.msnbc.msn.com/id/40304756/ns/business-stocks_and_economy/

Economists see slow, steady recovery next year

… snip …

The National Association for Business Economics survey, set to be released Monday, found economists now expect growth of 2.7 percent this year, up slightly from the previous forecast of 2.6 percent.

For 2011, the group still expects an economic expansion of 2.6 percent.

Ah, such rosy eyed economists. The problem with calling THAT a recovery, is that just to keep even in terms of unemployment, experts say GNP has to grow by about 3 percent (http://newsroom.ucla.edu/portal/ucla/ucla-anderson-forecast-u-s-recovery-160346.aspx ). What we are really looking at is stagnation … or if inflation rears it's ugly head, stagflation. Not a recovery in any sense that word has formerly been used by economists. And keep in mind that many of these same economists were predicting GDP growth in 2010 and 2011 of 3 and 4 percent not too many months ago.

 

[Kthulhut Fhtagn]

So this thread is pretty much just BAC ignoring all other discussion and spamming links to anyone willing to support his view that the stimulus failed?

 

[BeAChooser]

So this thread is pretty much just BAC ignoring all other discussion and spamming links to anyone willing to support his view that the stimulus failed?

LOL! And what discussion would you like to offer, KF?

 

[lomiller]

So this thread is pretty much just BAC ignoring all other discussion and spamming links to anyone willing to support his view that the stimulus failed?

Only if you use the term "support" loosely as most of the links are simply far right op-ed. Other then that though you are pretty much correct.

 

[BeAChooser]

http://www.msnbc.msn.com/id/40339909/ns/business-stocks_and_economy/

Federal Reserve officials have become more pessimistic in their economic outlook through next year and have lowered their forecast for growth.

The economy will grow only 2.4 percent to 2.5 percent this year, Fed officials said Tuesday in an updated forecast. That's down sharply from a previous projection of 3 percent to 3.5 percent.

Like I said, can these people really predict things?

Next year, the economy will expand by 3 percent to 3.6 percent, the Fed said, also much lower than its June forecast.

Want to bet? And isn't it odd that the Fed is predicting 3 to 3.6 percent growth while most economists (and they tend to be have rosy socialist outlooks) are predicting only 2.6% growth next year.

Bottom line … I don't see whatever the rosy eyed economists see that's actually going to stimulate the economy back into growing.

What I see are democrats saying the American people are too stupid to understand and continuing to push a socialist oriented, radical environmentalist, anti-business, high uncertainty agenda.

Which will do just the opposite of grow the economy and produce jobs. Unless Santa comes.

 

[Skeptic Ginger]

Did anyone ever start a stimulus was a success thread?

Wall Street on Track for Record in Profits

In a report released Tuesday by Thomas P. DiNapoli, the comptroller of New York State, Wall Street profits in 2009 are on track to exceed the record set three years ago, at the height of the credit bubble. The report noted that the four largest investment firms in Manhattan — Goldman Sachs, Merrill Lynch, Morgan Stanley and the investment banking arm of JPMorgan Chase — earned $22.5 billion in the first nine months, in contrast to losses of more than $40.3 billion in 2008, primarily at Merrill.

“The national economy is slowly improving, but Wall Street has recovered much faster than anyone had envisioned,” Mr. DiNapoli said in a statement.

 

[Kthulhut Fhtagn]

LOL! And what discussion would you like to offer, KF?

Anything with more substance than a thread that is now the equivalent of economic masturbation. I could achieve this by redirecting the topic to a discussion on the metaphysical aspects of celery.

 

[YoPopa]

Did anyone ever start a stimulus was a success thread?

Wall Street on Track for Record in Profits

If that was the story while the right was holding power the left would be screaming that the fat cats are getting fatter while unemployment remains critically high and the lower classes struggle. So where is the outrage? We, the taxpayers, bailed out these institutions and pumped billion$ into the system that they are now shuffling between each other. The money isn't finding its' way down the ladder, it's all staying at the top.

 

[Skeptic Ginger]

If that was the story while the right was holding power the left would be screaming that the fat cats are getting fatter while unemployment remains critically high and the lower classes struggle. So where is the outrage? We, the taxpayers, bailed out these institutions and pumped billion$ into the system that they are now shuffling between each other. The money isn't finding its' way down the ladder, it's all staying at the top.

The left is screaming that. Where have you been?

The thing about this news story is that the right is still screaming Obama is a socialist and his policies bad for business.

 

[BeAChooser]

Which will do just the opposite of grow the economy and produce jobs. Unless Santa comes.

Looks like Santa may not come …

http://www.rasmussenreports.com/pub...hoppers_plan_to_spend_less_on_gifts_this_year

A new Rasmussen Reports telephone survey finds that 58% of Adults say they will spend less on gifts this year than they did last year. Just 13% expect to spend more this year, while 27% say their spending will be about the same.

 

[YoPopa]

The left is screaming that. Where have you been?

The thing about this news story is that the right is still screaming Obama is a socialist and his policies bad for business.

Now I'm confused about the point you were making. We seem to agree that the stimulus enriched the wrong people and yet you were using that fact as an example of its' success?

Yes, I am on the side that thinks Obama's policies are bad for business. He is enriching a narrow segment at the expense of millions of small business people.

 

[lomiller]

If that was the story while the right was holding power the left would be screaming that the fat cats are getting fatter while unemployment remains critically high and the lower classes struggle. So where is the outrage? We, the taxpayers, bailed out these institutions and pumped billion$ into the system that they are now shuffling between each other. The money isn't finding its' way down the ladder, it's all staying at the top.

We no way to test that hypothesis one way or the other and the answer is irrelevant anyway. No matter who is in power employment is a lagging indicator, and knowledgeable people would have pointed that out, likely the same knowledgeable people who are pointing out the holes in BaC’s beliefs.

With that I would hope this is the last time we have to address your speculation about what people would or would not have said had someone else been in the Whitehouse.