Jobless Rate Falls

[OldGaffer]

Hardly, a normal bankruptcy would have put bondholders first in line to be paid; restructured union contracts, and reformed pension and health care costs, making employees contribute more. under Obama's rather specially designed bankruptcy, bondholders holders received 42 cents on the dollar in order to reward the Unions, there were no pension or health insurance cost reforms.



Wages aren't the problem. The problem is pensions; GM is having to pay for the worker who's building the car and the former worker who is no longer building cars, and the former worker before that former worker who's no longer building cars.

The non-union US based Japanese auto manufactures' employees have more traditional 401K plans and require employees to share more of their health insurance costs.

That's why they didn't go bust.

You do realize that every Japanese car maker is unionized in all their Japanese plants, right?

 

[Sgt Staples]

You do realize that every Japanese car maker is unionized in all their Japanese plants, right?

Yep, that's exactly why the built plants in the southern, no union right to work states. And that's why GM is moving some of their auto production to China.

They've got to make a profit somewhere to stay in business.

 

[degsme]

Yep, that's exactly why the built plants in the southern, no union right to work states. And that's why GM is moving some of their auto production to China.

They've got to make a profit somewhere to stay in business.

No they don't want to deal with unions and can get away with it. Doesn't change that GM's mfg labor costs were within 10% of what Toyota USA's were

Hardly, a normal bankruptcy would have put bondholders first in line to be paid; restructured union contracts, and reformed pension and health care costs, making employees contribute more. under Obama's rather specially designed bankruptcy, bondholders holders received 42 cents on the dollar in order to reward the Unions, there were no pension or health insurance cost reforms

And in the GM Bankruptcy

1. Bondholders were first in line
2. Union contracts were restructured
3. Pension and healthcare costs were reformed
4. workers contribute more

FACTS MATTER
got any?

 

[JackDallas]

Then thank your Governor, John Kasich, because it sure isn't due to anything Obama has done.

Here in my area the rate has fallen to 7.8. Nationally,

http://abcnews.go.com/Business/MadeInAmerica/december-jobless-rate-falls-85-percent/story?id=15300534

 

[degsme]

Then thank your Governor, John Kasich, because it sure isn't due to anything Obama has done.

REally? So a stimulus that met or exceeded predictions by between 100% and 150% is "doing nothing"?

Keeping Acc'ts Rcv'ble lending from shutting down and adding an additional 5%-10% to the unemployment rate is "doing nothing"???

Interesing definition you got there.

 

[zzigzzag]

The irony is that you want to call those who hoarded and presided over a recession complete with record unemployment "job creators". Those who started no businesses that employ people are "entrepreneurs". And why? So that we can have a tax structure based on semantics and rhetoric instead of reality.

 

[Lukey]

The irony is that you want to call those who hoarded and presided over a recession complete with record unemployment "job creators". Those who started no businesses that employ people are "entrepreneurs". And why? So that we can have a tax structure based on semantics and rhetoric instead of reality.

Actually, the tax (and regulatory) structure is what gives entrepreneurs the incentives to build businesses without employees.

 

[JackDallas]

No it didn't.

Using the same measures, Reagan's unemployment rate Peaked at 25% and his underemployment rate approached 30%

GWB's underemployment rate was a steady 10% for a decade with spikes to 20%...

Apples to apples comparisons please.

 

[JackDallas]

Load of Horseshit ALERT

The irony is that you want to call those who hoarded and presided over a recession complete with record unemployment "job creators". Those who started no businesses that employ people are "entrepreneurs". And why? So that we can have a tax structure based on semantics and rhetoric instead of reality.

 

[JackDallas]

HA, this from a man who claims his personal worth is 3 Million dollars.

lukey probably makes less than a 100 grand a year and spends his evenings looking at photo's of billionaires...the worshiping of rich people has got to stop folks...

 

[zzigzzag]

Almost sounds like you get it....that they're not "job creators", even though that is your side's perennial characterization of them regardless of whether they create jobs in America or not. So I don't want to hear that "job creators" bullshit now that you've debunked it yourself.

 

[zzigzzag]

Pretty small load from you this time. No need for the alert. Everyone has your number.

 

[middleview]

thanks to Bush's policies, the dow tanked starting in 2006 and ended down 50%. It is back to 12,000 now. 'splain that.

 

[Sgt Staples]

thanks to Bush's policies, the dow tanked starting in 2006 and ended down 50%. It is back to 12,000 now. 'splain that.

The Dow was REALLY driven down by Obama shouting "Great Depression" every time he made an appearance on TV after his election, which was every hour on the hour.

Dow 12,000 is worth about the same as Dow 6,000 at the gas station and is worth about Dow 8,000 at the grocery story compared to when Obama took office. He's destroying the value of currency to prop up "Wall Street." 7.7trillion printed to date.

 

[degsme]

The Dow was REALLY driven down by Obama shouting "Great Depression" every time he made an appearance on TV after his election, which was every hour on the hour.

Yeah right... after all institutional investors are completely incapable of seeing through political rhetoric to the underlying economics. These investors are so clueless in looking at a steady tramp tramp of 3 years of accelerating forclosures (look at chart #4 http://www.kansascityfed.org/publicat/econrev/pdf/4q07Edmiston.pdf ) yeah right

Dow 12,000 is worth about the same as Dow 6,000 at the gas station[/quote]
Really? So the DJIA is not a model of economic activity? Or is it your claim that economic activity has no affect on demand and hence price of oil?

He's destroying the value of currency to prop up "Wall Street." 7.7trillion printed to date.

RIGHT... and the value of the US Dollar vs. WW Currencies is?
http://www.indexmundi.com/blog/index.php/category/charts/

Oh yeah INCREASING...


FACTS MATTER
got any?

 

[zzigzzag]

"The Dow was REALLY driven down by Obama shouting "Great Depression" every time he made an appearance on TV after his election, which was every hour on the hour."

Yeah...it wasn't the fact that that was where we were headed. It was Obama recognizing it and saying it out loud that got them to trade in their instincts and expertise for rhetoric by a Democratic candidate.

Why did Wall Street need "propped up"? Too much regulation?

 

[Sgt Staples]

FACTS MATTER
got any?

All you gotta do is go to the grocery store or the gas station. The facts will stare you right in the face, for once.

 

[middleview]

Hmmm, so the 750,000 jobs lost in Bush's last 30 days were because of Obama? The recession that officially started in December 2007 was because of Obama? The 8.2% unemployment that existed on February 2009 was because of Obama?

Your are either dishonest or incredibly underinformed.....in my opinion, those are the only two alternatives to explain your detachment from reality.

 

[Sgt Staples]

Your are either dishonest or incredibly underinformed.....in my opinion, those are the only two alternatives to explain your detachment from reality.

No, dishonesty is practiced by people who are trying to blame an additional 2 million net job losses on a president who hasn't been in office for 3 years, and who was replaced by a president who, even though he had vast majorities in congress, is a complete and utter failure.

6 trillion in new debt and HIGHER unemployment, higher food prices, higher gas prices. A National debt that is greater than they ENTIRE GDP along with a credit downgrade And a brand new entitlement which will be impossible to pay for and will drive the debt up much higher.

And if your going to blame the Republicans for blocking him when they only control one house of congress, then I might as well blame the Democrats for Blocking Bush when the took over both houses of Congress in 2007 and caused to financial crisis.

 

[middleview]

You seem to think that the GM board was forced to accept the bailout. Why would the people running the company accept the deal if they knew it meant that the CEO would lose his jobs and their bonuses would suffer?

No way that they'd have disappeared? What do you base that on? I guess you have experience with running major corporations?
GM execs testified before congress on several occasions in 2008 and early 2009 stating that GM would cease to exist without government help. I guess they were lying, eh?

http://en.wikipedia.org/wiki/GM_bailout