Obama blames banks for his failed policies and stangant economy

[heyheybooboo]

Yeah! THAT'S why the banks aren't lending! FFSLMFAO.

Seems we have some right wing lunatics posting in P&N who only became concerned about the economy once Obama took office. We call that transparent hacks folks, again, nothing to see here, move along, just another liar.

LOL

There seems to be a typical Con misconception that Big Banks actually want to lend capital to small business. That premise would be incorrect.

Big Banks can do 1/100th of the paperwork (and make more money) loaning $10 mil to a single customer as opposed to $50-$100k to 100 customers. This ain't rocket science.




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[sandorski]

Taking out loans to do payroll? What the fuck is he thinking? Small businesses can't run like the federal government.

Fail. It's a very standard practice, not some recently created hair brained scheme.

 

[Gonad the Barbarian]

Crazy talk. Next he'll be saying they caused this economic mess in the first place.

 

[rchiu]

Wow, Obama backers can be so defensive.

OP has a point. Obama blaming the bank is misguided. Anyone with any business sense knows companies don't go around borrowing money and hire people unless they actually see the business picking up and they need people to run the production or whatever. Why borrow money and hire people when they cannot sell their product and service? Fill their warehouse with unsold goods so they can look at it?

Reason companies don't hire is 1) they don't see demand for their good and service or 2) they have been squeezing everything out of their existing employees and they are planning to do the same for the future and get more out of less people.

To reduce unemployment Obama gotta do 2 things to address those problem, 1) push demand, get people to buy, tax cut, whatever, 2) give incentive for company to hire, payroll tax cut, tax incentive...

Simple logic anyone with any business background can understand. Pointing finger at banks is the popular thing to do these day, that's what all Obama's been doing, whatever fashionable and popular. But that doesn't address the issue and doesn't solve a damn thing.

 

[Hacp]

Wow, Obama backers can be so defensive.

OP has a point. Obama blaming the bank is misguided. Anyone with any business sense knows companies don't go around borrowing money and hire people unless they actually see the business picking up and they need people to run the production or whatever. Why borrow money and hire people when they cannot sell their product and service? Fill their warehouse with unsold goods so they can look at it?

Reason companies don't hire is 1) they don't see demand for their good and service or 2) they have been squeezing everything out of their existing employees and they are planning to do the same for the future and get more out of less people.

To reduce unemployment Obama gotta do 2 things to address those problem, 1) push demand, get people to buy, tax cut, whatever, 2) give incentive for company to hire, payroll tax cut, tax incentive...

Simple logic anyone with any business background can understand. Pointing finger at banks is the popular thing to do these day, that's what all Obama's been doing, whatever fashionable and popular. But that doesn't address the issue and doesn't solve a damn thing.

Or he can reduce the cost of doing business by cutting taxes and compensation costs which increases margins and encourages businesses to lower prices. Supply+demand=more jobs

 

[sandorski]

Wow, Obama backers can be so defensive.

OP has a point. Obama blaming the bank is misguided. Anyone with any business sense knows companies don't go around borrowing money and hire people unless they actually see the business picking up and they need people to run the production or whatever. Why borrow money and hire people when they cannot sell their product and service? Fill their warehouse with unsold goods so they can look at it?

Reason companies don't hire is 1) they don't see demand for their good and service or 2) they have been squeezing everything out of their existing employees and they are planning to do the same for the future and get more out of less people.

To reduce unemployment Obama gotta do 2 things to address those problem, 1) push demand, get people to buy, tax cut, whatever, 2) give incentive for company to hire, payroll tax cut, tax incentive...

Simple logic anyone with any business background can understand. Pointing finger at banks is the popular thing to do these day, that's what all Obama's been doing, whatever fashionable and popular. But that doesn't address the issue and doesn't solve a damn thing.

Incorrect.

 

[drebo]

Or he can reduce the cost of doing business by cutting taxes and compensation costs which increases margins and encourages businesses to lower prices. Supply+demand=more jobs

The free market doesn't work, remember?

Supply and demand have nothing to do with making a business work! Without the government to tell them not to, business will only pay $0.01/hr for employees to work and charge 10-times the cost of the product and keep all the earnings for themselves. The government has to control it or the whole system will fail!

 

[spidey07]

The free market doesn't work, remember?

Supply and demand have nothing to do with making a business work! Without the government to tell them not to, business will only pay $0.01/hr for employees to work and charge 10-times the cost of the product and keep all the earnings for themselves. The government has to control it or the whole system will fail!

Yeah. Profit is evil. Kill those that make profit for they are the true sinners! If you listen to what Obama says he honestly believes this and what you posted.

 

[HumblePie]

Wow, Obama backers can be so defensive.

OP has a point. Obama blaming the bank is misguided. Anyone with any business sense knows companies don't go around borrowing money and hire people unless they actually see the business picking up and they need people to run the production or whatever. Why borrow money and hire people when they cannot sell their product and service? Fill their warehouse with unsold goods so they can look at it?

Reason companies don't hire is 1) they don't see demand for their good and service or 2) they have been squeezing everything out of their existing employees and they are planning to do the same for the future and get more out of less people.

To reduce unemployment Obama gotta do 2 things to address those problem, 1) push demand, get people to buy, tax cut, whatever, 2) give incentive for company to hire, payroll tax cut, tax incentive...

Simple logic anyone with any business background can understand. Pointing finger at banks is the popular thing to do these day, that's what all Obama's been doing, whatever fashionable and popular. But that doesn't address the issue and doesn't solve a damn thing.

Actually one of Obama's campaign promises was to include a payroll tax break/cut of $3000 for each employee a business hires. The problem is he faced Repub opposition to this initially and had put it on the back burner. From what I read, he is looking to push this through again.

Obama is just making a statement but it's not like he's just a dog barking on a chain and doing nothing as an image some people seem to want to construe. The fact that he is trying to above shows that he doesn't place all the blame solely on banks. However, is it easier to push that tax cut in, then get banks to start handing out loans if they don't want to. I am going to give the benefit of the doubt on this one with this following statement. I think that him voicing his concern of bank loans, he is trying to goad banks into also helping the economy by giving out more business loans. I think he is doing a multi part apprach to the problem but there is only so much he can do at once.

 

[ayabe]

Or he can reduce the cost of doing business by cutting taxes and compensation costs which increases margins and encourages businesses to lower prices. Supply+demand=more jobs

Here's a tip, not every wrong in the world can be righted by cutting taxes. You're going to have to give up on this simplistic bullshit you've been sold.

 

[drebo]

Here's a tip, not every wrong in the world can be righted by cutting taxes. You're going to have to give up on this simplistic bullshit you've been sold.

He's not saying he wants to ABOLISH taxes. He's simply saying (rightly so) that the tax burden is already too high on the middle class (and let's face it, taxes on businesses manifest themselves in the prices of products that the middle class will eventually buy).

The bottom line, long term, is that the government needs to learn to operate within their means. If that means freezing taxes at current rates for the next 10 years while the government trims the fat and offloads certain departments that should not exist, then that's what needs to be done. Raising taxes is not the answer to economic recovery OR a healthy economy.

 

[BoberFett]

Fail. It's a very standard practice, not some recently created hair brained scheme.

Wrong.

 

[classy]

I am still trying to figure out what the failed policies of Obama are? Last time I checked the Republicans have blocked everything except the stimulus, which he has IMO been to over-cautious at spending it.

 

[BoberFett]

Here's a tip, not every wrong in the world can be righted by cutting taxes. You're going to have to give up on this simplistic bullshit you've been sold.

Nor can every wrong be righted by setting up another government agency. Sometimes the answer is just to let things play out without changing the rules during the game.

 

[sandorski]

Wrong.

nope, sorry

 

[classy]

Wow, Obama backers can be so defensive.

OP has a point. Obama blaming the bank is misguided. Anyone with any business sense knows companies don't go around borrowing money and hire people unless they actually see the business picking up and they need people to run the production or whatever. Why borrow money and hire people when they cannot sell their product and service? Fill their warehouse with unsold goods so they can look at it?

Reason companies don't hire is 1) they don't see demand for their good and service or 2) they have been squeezing everything out of their existing employees and they are planning to do the same for the future and get more out of less people.

To reduce unemployment Obama gotta do 2 things to address those problem, 1) push demand, get people to buy, tax cut, whatever, 2) give incentive for company to hire, payroll tax cut, tax incentive...

Simple logic anyone with any business background can understand. Pointing finger at banks is the popular thing to do these day, that's what all Obama's been doing, whatever fashionable and popular. But that doesn't address the issue and doesn't solve a damn thing.

Man should have not made this post. He did do just about everything you said and the republicans criticized the guy. He did just about everything you posted with GM and the car makers, but got trashed for it. He backed them with money and even agreed to buy green cars from them and the right coined it goverment motors. He can't create in demand products for struggling companies. And his attack on the banks is right. The banks gave this impression of financial stress that we now see was not true and they suckered the Bush administration, Obama administration and ultimately the american people. Now they are running to pay back money that didn't need to avoid paying interest or profit to the people of this nation. They should be investigated and fined well into the millions for their fraud.

 

[JS80]

http://www.bloomberg.com/apps/news?pid=20601087&sid=aKGZkktzkAlA

Now Obama Doesn't 'Begrudge' Millions in Bonuses for 'Savvy' Bankers...

LOL what a two faced pos

 

[classy]

Nor can every wrong be righted by setting up another government agency. Sometimes the answer is just to let things play out without changing the rules during the game.

Thats the problem, its not game. To allow this to "play out" is why we are in this mess to begin with.

 

[classy]

http://www.bloomberg.com/apps/news?pid=20601087&sid=aKGZkktzkAlA



LOL what a two faced pos

He didn't say he agreed with it, nice try.

The president, speaking in an interview, said in response to a question that while $17 million is “an extraordinary amount of money” for Main Street, “there are some baseball players who are making more than that and don’t get to the World Series either, so I’m shocked by that as well.”


“I know both those guys; they are very savvy businessmen,” Obama said in the interview yesterday in the Oval Office with Bloomberg BusinessWeek, which will appear on newsstands Friday. “I, like most of the American people, don’t begrudge people success or wealth. That is part of the free- market system.”



And if you read the whole article Obama really puts forth the way CEOs ought to be paid.

 

[BoberFett]

nope, sorry

Wrong again, Canuckitard.

Using a revolving line of credit for short term loans to smooth out cash flow including payroll is completely different than taking out long term debt to pay payroll. Long term debt is used for capital projects, not day to day operations.

It must be hard for you to be utterly wrong so frequently.

 

[sandorski]

Wrong again, Canuckitard.

Using a revolving line of credit for short term loans to smooth out cash flow including payroll is completely different than taking out long term debt to pay payroll. Long term debt is used for capital projects, not day to day operations.

It must be hard for you to be utterly wrong so frequently.

You assume a distinction that is not there. Where does Obama suggests Long term Debt?

Fail on.

 

[BoberFett]

Because he's not talking about cash flow, he's talking about creating jobs and expanding payroll. You don't really know anything do you?

 

[JS80]

Because he's not talking about cash flow, he's talking about creating jobs and expanding payroll. You don't really know anything do you?

lol why do you bother? He's canadian. Forgive his ri'tardation

 

[zephyrprime]

Actually, the real problem is that the debt to gdp ratio is simply too high in the US and most of the developed world. The problem with credit based money and the fractional reserve system is that the level of money in the system is limited without excessive defaulting to create more un-indebted money. A high level of debt requires a high level of debt service (monthly payments) which are a negative stimulous in the economy.

 

[sandorski]

Because he's not talking about cash flow, he's talking about creating jobs and expanding payroll. You don't really know anything do you?

and that changes anything? You Assume much.