Obama is a complete failure when it comes to unemployment and jobs

[Engineer]

Why do people hold up manufacturing like it is the holy grail of the economy??

Because people, especially those that aren't well educated, need good, solid jobs that produce towards the national economy. Jobs that create wealth so the 50% at the top can't look down and bitch about the 50% at the bottom who don't pay taxes.

And while I hear the "We make more stuff" argument all the time, we have more and more of our "made stuff" made outside, in sub assemblies, and then assembled here. I've seen it more than one time first hand. Ford refused to have their final assemblies made in Mexico but instead, had us (former employer) make the stuff in Mexico, ship it to the US, do final assembly and inspection here and then stamp "Made in the USA" on it. I know there are laws about the content and stuff like that but I imagine that they are circumvented at every corner to save a dime while putting the made in the USA logo on the item.

Of course the new one is "Designed in the USA" on items made abroad...lol.

You don't have good, solid paying - wealth creating jobs for those at the bottom (i.e. the foundation), your building (USA) will eventually collapse.

By the way, the recession of 2003 was the first recession in US history that didn't feature an increase in manufacturing jobs after the recession was over. Seems to be about the time that it all finally burst and we're all going downhill.

 

[Brutus1787]

It is somewhat dishonest to give total credit or total blame to a President with respect to the economy.However, Obama does own the present economy, in that his policies are responsible for the current conditions. He promised that unemployment would not go over 8% and it has , and remains high, does anyone think that cash for clunkers was a good idea? where are these shovel ready jobs?

The main problem is the transformation from a manufacturing economy to a service based economy.

 

[ProfJohn]

The main problem is going to an agricultural economy to an industrial one.

 

[sandorski]

It is somewhat dishonest to give total credit or total blame to a President with respect to the economy.However, Obama does own the present economy, in that his policies are responsible for the current conditions. He promised that unemployment would not go over 8% and it has , and remains high, does anyone think that cash for clunkers was a good idea? where are these shovel ready jobs?

.

No.

 

[sandorski]

FTFY

Finally an honest PJ post. :thumbsup:

 

[Engineer]

The main problem is going to an agricultural economy to an industrial one.

And the people working on the farms IN AMERICA went to working for factories IN AMERICA and those people were producing wealth. Now they are going from industrial making of wealth jobs to service jobs and importing their goods? Selling cheap Chinese made shit back and forth to each other?

Would you like fries with that?

I once read something (that was posted here but I cannot find it to save my life) that showed the 7 steps of every empire in the worlds history.

Step #6 was relying on the slave labor of conquered lands for your goods and services (Step #7 was death of empire). I think we are squarely on step #6.

 

[matt0611]

I don't blame Obama for the mess in 08 (though he was certainly not doing anything to stop it while in the senate). But he hasn't done shit to get the economy back on track.

And no, throwing money at the problem doesn't count, its already shown to be a complete failure. (for the thousandth or so time in history)

He offers no solutions besides raising taxes and more Washington control of our lives and economy.
No thanks.

 

[DominionSeraph]

Postin' in a PJ thread.

Also, check 'em.

 

[ProfJohn]

And the people working on the farms IN AMERICA went to working for factories IN AMERICA and those people were producing wealth. Now they are going from industrial making of wealth jobs to service jobs and importing their goods? Selling cheap Chinese made shit back and forth to each other?

Would you like fries with that?

I once read something (that was posted here but I cannot find it to save my life) that showed the 7 steps of every empire in the worlds history.

Step #6 was relying on the slave labor of conquered lands for your goods and services (Step #7 was death of empire). I think we are squarely on step #6.

We have had a trade deficit since the 1970s

Plus there are problems with how trade deficits are calculated

And let's not forget IP's effect on trade.
Pirates of the Caribbean 4 has made almost $1 billion over seas but isn't counted in our trade deficit. The over seas box office total was $20 billion last year (not sure how much of that goes to American films) According to one site over seas box office was over $8 billion last year. That is $8 billion poured into our economy. Now ad TV and video games etc etc.

Here is a blog that claims we are always in balance:
http://mjperry.blogspot.com/2011/06/our-trade-with-rest-of-world-is-always.html

 

[Engineer]

We have had a trade deficit since the 1970s

Plus there are problems with how trade deficits are calculated

And let's not forget IP's effect on trade.
Pirates of the Caribbean 4 has made almost $1 billion over seas but isn't counted in our trade deficit. The over seas box office total was $20 billion last year (not sure how much of that goes to American films) According to one site over seas box office was over $8 billion last year. That is $8 billion poured into our economy. Now ad TV and video games etc etc.

Here is a blog that claims we are always in balance:
http://mjperry.blogspot.com/2011/06/our-trade-with-rest-of-world-is-always.html

All of that doesn't account for the tearing down of the foundation at the bottom.

Also, "asset sales"....lol...so they are buying our buildings while we are buying their plastic?

We will just see how long and wonderful this great "service economy" that people like you and others are longing for. Just don't bitch at those at the bottom that cannot find jobs that pay enough to get them into an income tax bracket.

 

[HendrixFan]

Our trade deficit is currently on pace to be $500B this year. Having a marginal trade deficit in the 1970s isn't the same in size or scope as our current trade deficit.

You mention box office sales, but are you sure that doesn't get counted as trade? Sending out IP is pretty much our only growing export. I can't imagine we ignore those numbers. Box office sales don't directly translate into how much goes to the distributor either.

 

[ProfJohn]

Before you laugh you might want to check out the actual data
http://www.bea.gov/newsreleases/international/transactions/transnewsrelease.htm

The deficit on goods increased to $182.5 billion
The surplus on services increased to $41.7
The surplus on income increased to $54.8 billion

Last year it looks like we had a surplus. More money came into the country than left the country, but I could be read it wrong. Either way the number isn't that big $100 billion for the year.
http://www.bea.gov/iTable/iTable.cfm?ReqID=6&step=1

 

[dmcowen674]

Obama is a complete failure when it comes to unemployment and jobs

We have now gone 2 years with unemployment above 9% (with the exception of 2 months) That is the longest period of +9% unemployment since the end of the great depression.

http://www.miseryindex.us/urbymonth.asp?StartYear=1948-01&EndYear=2011-05&submit1=Create+Report

Your hero Bush had nothing to with it right?

How bout you, what have you done about it?

Nothing and you are not affected anyway so why are you whining?

In fact it benefits America hating people like you for the little guy to be down and out and not have a job, why would you want the middle class to build back up and eat into your pocket?

Why are you here since you hate the country so much???

 

[HendrixFan]

$120B x 4 = ?

 

[Engineer]

http://www.mindcontagion.org/html/real_wages.html

One of the biggest factors in the destruction of real wages was the remedy for the inflation of the 70's. Paul Volker's hyper interest rates that shuttered many manufacturers taking good paying skilled labor jobs with them. The weakened US worker was no match for the Voodoo economic model of Reagan which was based on a supply side theory that said everyone benefits when the rich get richer. The rising tide floats all boats theory. Unfortunately the majority of people were never given or put into a boat.

It was great for Wall Street because the rising gap in wages fed profits on one side and debt on the other. Companies used the stagnant wages to fuel productivity and the increase in debt fueled the credit industry. The share prices grew faster than the GDP. Fueling another debt orgy when investors snapped up shares on credit.

Nobody questioned the sanity of a consumer economy (the US GDP is 70% consumer spending) where the consumers were not paid enough to actually buy the products they sold. They didn't manufacture them anymore the manufacturing was outsourced by the demands of the Wall Street analysts to trim labor expenses to fuel profits. Too bad they didn't outsource the CEO's or their own jobs.

People were now working in the new service industry and couldn't buy the products they sold without using credit, i.e. sinking deeper into debt. The economy grew because the new financial services industry made credit easy. People augmented their stagnant wages with debt. They were even told to go buy, remember Bush after 9/11? The entire consumer industry was constructed to enable people to continue to buy the products they wanted and needed using easy credit. What would have happened if they didn't? Many would be homeless today. That's what happens when wages don't keep up with the cost of living. Workers were not willing to see their living standards drop year by year in the name of corporate profits and outrageous CEO pay.

 

[ProfJohn]

Our trade deficit is currently on pace to be $500B this year. Having a marginal trade deficit in the 1970s isn't the same in size or scope as our current trade deficit.

You mention box office sales, but are you sure that doesn't get counted as trade? Sending out IP is pretty much our only growing export. I can't imagine we ignore those numbers. Box office sales don't directly translate into how much goes to the distributor either.

Current trade deficit is less than 5% of GDP.

And again trade deficit only counts physical items and not how much we make with our minds such as investment bankers, or plans to build new power plants etc etc.

 

[Engineer]

Last year it looks like we had a surplus. More money came into the country than left the country, but I could be read it wrong. Either way the number isn't that big $100 billion for the year.

Surplus? LOL....the only way more money came in is if the supplier countries were buying our assets (which they probably are). We are buying their cheap manufactured stuff and lots of oil and they are buying our assets.

 

[blackangst1]

It is somewhat dishonest to give total credit or total blame to a President with respect to the economy.However, Obama does own the present economy, in that his policies are responsible for the current conditions. He promised that unemployment would not go over 8% and it has , and remains high, does anyone think that cash for clunkers was a good idea? where are these shovel ready jobs?

The main problem is the transformation from a manufacturing economy to a service based economy.

June 17, 2011
Cree, Inc, President Obama's Council on Jobs and Competitiveness, Duram, NC

President Obama: Shovel-ready was not as ... uh .. shovel-ready as we expected.

 

[HendrixFan]

Current trade deficit is less than 5% of GDP.

What would a 5% boost in GDP do for our economy right now?

 

[ProfJohn]

http://www.mindcontagion.org/html/real_wages.html

Why do you guys keep falling for this crap??

House hold income has gone up over the last 20 years have gone up. Not a lot for the people at the bottom, but they have gone up.

Our standard of living has gone up as well.

 

[Engineer]

Our standard of living has gone up as well.

All paid for.....<drumroll>......debt!!!!!!!!!!!!

Take out the debt (like we are now) and see how that works for us.

http://www.dailykos.com/story/2009/...ined-Economic-Growth-without-Real-Wage-Growth

In other words, since 1980, facing stagnated real wages, the only way American consumers have been able to significantly improve their lifestyles is either:
- to take on more debt, using assets which have appreciated in value as collateral (stock investments, housing), or
- to refinance their existing debt at lower interest rates.

and now...oh look...the debt is being cut off at the private level (harder to get loans and housing depreciating in value) and wages are as stagnant as ever....wonder how its going to look going forward? :hmm::hmm:

 

[thraashman]

Can we take a forum vote and put a limit on the amount of stupid partisan shit ProfJohn is allowed to post per week? He's definitely reaching new heights in that category and I don't think this forum can sustain this much hackery.

 

[Spikesoldier]

Obama isn't a failure because he's been harming the US intentionally. A concerned president would not have been smothering US energy production on purpose. Obama admin was found in contempt of court for blocking drilling in Gulf after being ordered to get out of the way (and he was praising Brazil's drilling at same time).


His EPA shut down a coal min after getting a license and doing millions in upgrades. Obama is forcing cap and trade (defeated in Congress) via EPA. Obama forcing health-scare smothered hiring.The FCC seized Internet despite court saying they couldn't. The NLRB is muscling Boeing for Obama's union base. Everywhere you look Obama and his thugocracy are bullying and intimidation private sector.


The real kicker is how Obama gives speeches about the dangers of US debt and then does his best (always) to increase it. Obama is either a moron or he is every bit the radical he hinted he was before election. A person really has to be simple not to catch on to Obama by now.


Heck he is even making nice nice with Muslim Brotherhood and using US military to clear path for Islamists in ME and Maghreb. Obama has been throwing Israel (and other allies) over the side since taking office. He always gives speeched about "unbreakable bonds" but thats just Obama lying - which he always does. Obama is just a snake in the grass who dictates like a smiling hostile foreigner. Its one dumb crew that elected him because it was all very predicable.

100% agree

im sure obama got a good lesson in thugocracy while he was a chicago politican.

 

[dmcowen674]

Can we take a forum vote and put a limit on the amount of stupid partisan shit ProfJohn is allowed to post per week? He's definitely reaching new heights in that category and I don't think this forum can sustain this much hackery.

\

He serves a great role in showing how Republicans like him hate the country so much.

 

[ProfJohn]

The Myth That Is Falling Real Wages
Lots of great charts if you want to look.

Here is a great one

http://mises.org/Community/forums/t/15824.aspx