I think Obama, as he himself has said, is the only thing standing between the Wall Street banks and the mobs with pitchforks. The so-called "financial reform" bill has been watered down as it has progressed through the legislative process and his administration has played a role in doing so. He hits the Wall Street banks with heated rhetoric every now and then, but there's no "there there," as the saying goes. Obama is Goldman Sachs' candidate. He is as good as it's going to get for Wall Street. Don't confuse his rhetoric with the reality of what's playing out here.
Obama already tried to create jobs with the "jobs" bill that was so desperately needed to save us. It only cost us $780 billion but curiously no one in the media is interested in discussing the actual results.
780 billion was just to stop the bleeding. That stopped the melt down and the losing of 700k jobs a month at the time. We spent more than 780 billion in Iraq.
They did around 1776 and kinda became tired until in the early 1900s when they totally fell asleep again.....
I wonder what it costs to create a job. Who has money, then if they do have money, they need some credit. After these basics, you still need to make a profit and if not a profit at least the benefit of working for yourself. Why bother if there is no future in it, no upside to more customers and look forward to ever increasing taxes, liability costs, etc. You work for nothing and can't even build equity, nothing left to sell. Anyone with enough money/credit to create a job or open a business, risk is too much. Most guys I know in business will pack it in, the old days you could bid low just to keep people working, how long is that going to last? Point being who is going to replace these old timers? The one whose business has paid for itself and do not have the start up costs. I think the various gov't weren't interested in mom and pops, the small guys, too hard to regulate, to insure, etc. they were a nuisance, no money it in. Oh well. p.s. Actually, if you want a lesson on job creation study a few books on urban planning. You don't even have to read a book, go and look at any downtown at the empty store fronts or strip malls - tombstones. Strip malls, ha, we need another tanning booth and nail salon. This is our life. Booyah.
Well I know a little about business, as my family has run one for 41 years and counting, and economics too. With that in mind I see nothing short of actually fixing problems that will encourage any meaningful job growth. It's but one example of course, but our business is going great. I mean, really, really great. In the past we probably would have hired people and we still may have to, but we're trying hard to avoid that. Why? Because how long can this last? How much longer can we continure to ignore the obvious, which is, we spend waay more than any reasonable tax rate can cover. What you're suggesting is just more of the same. Make taxes zero if you want, but that doesn't change the fact that social security and medicare are on a 1 way street to hell, or that every state, city and county in the country is broke because of their insane pension agreements which cannot possibly be met. It also won't change the fact that nobody is going to pay 500K for that 150K house anytime soon or make the marks on the banks books equal a positive number. And as for your summit idea. For Christ sakes, the last thing we need is another summit about anything thing. Btw, Cramer is an idiot and so is anyone who gives in the slightess thought to anything he spews out.
When will everyone come to their senses and realize that jobs cannot be created because they want to be created but rather be created because of the need for the actual job being created. You cannot force millions of new jobs on an economy that cannot even sustain itself without the help of stimulus and trillions in free aid to the entire global economy. They can try and focus all they want on jobs and it wont mean anything. The entire talk about creating jobs to me is just nonsense, how many years did the US economy sustain quarter after quarter and year after year of job growth, the US has created millions of jobs over the last decade DUE to the unbelievable amounts of leverage and easy credit that made everyone spend and create new jobs, that time is now over. There is no need to create jobs, they are just going to try and create jobs out of thin air just to try and create a new economy which is not going to happen. Easy credit and cheap credit along with low interest rates fueled the growth in the US over the last 2-3 decades, with that no longer the case creating jobs is going to be nearly impossible at this time the downturn in the economic cycle. Pushing an economy that's already been pushed to its limit is only going to make for more trouble down the line, the best bet for this economy is to let it run its own course and with due time fix itself without intervention.
Exactly right, the cost to hire someone now is just out of reach for many who are barely holding on as it is in this economy, near me there are dozens of store fronts for rent, from 500 SQ to tens of thousands of square feet of commercial real estate. Who is going to come in and open up another dunkin donuts or another strip mall like you mentioned and open yet another nail salon, there is NO need for any more of these stores, there is still an over abundance of worthless franchises around where I am. In certain cities near me there are literally dunkin donuts within feet of each other. Amazes me to notice how many donuts and muffins people eat.
How can anyone say that job creation should not be the highest priority? Week after week we see unemployment at highs not seen in 30 years and its not dropping...at least not yet. I do see people going about their business everyday, the restaurants seem to be packed...there are crowds of people everywhere...but unemployment is still at these 30 year highs. If you have so many people unemployed, then how can that not be a priority? How does Obama get by day after day without addressing it? Obama creates a consumer credit agency...healthcare reform...but why does he not create an office of Employment which will study/analyze the employment issues and make recommendations on what the government should do. It seems like the issue of employment is being ignored completely.