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happens. It'll bounce back.
The US economy lost 159,000 jobs last month. If we keep messing around, expect that number to double in no time.
Plus, the deep credit freeze is affecting A+ rated corporations. Commercial Paper, which is investment grade (top flight) debt, shrunk by a record $94.4 billion last week alone and has plunged $204 billion the past 3 weeks.
I give it one more week and the problems may be irreversible. The bailout at this point may just be a band aid, because it's coming too late.
Last edited by 2centsworth; 10-03-2008 at 08:23 AM.
happens. It'll bounce back.
"bailout at this point may just be a band aid"
There was pe ion or poll or something of 400 economists that said the Paulsen bailout, even with Congressional strings attached, would help only the bailed out, not the economy. iow, the bailout is just another capitalist/corporate ripoff of the US govt by the very same people who made 100s of $Ms from the r/e bubble they refused to acknowledge.
The best solution must include re-doing the mortgages so people can stay in their homes and keep paying 100s of $Bs in hard cash to the lenders, rather than the putting people in the street and lenders selling their non-performing MBS to the taxpayer.
lame or lazy.
we need a two pronged approach. First, create liquidity so that the loss of jobs is minimized. Second, allow homeowners to restructure payments, because payment restructuring is more desirable than foreclosure. In foreclosure, all parties lose and so do we as a society.
me or the government?
i can just imagine someone like you before the great depression telling everyone happens, it'll bounce back.
I don't think striping men of pride, dignity, and the ability to provide for their families should be met with the response happens.
doesn't have to happen if you're not lazy.
"First, create liquidity"
Lend the lenders liquidity (and never forgive the loans). Don't buy their garbage at contrived, fake above-market rates.
If the MBS actually had performing borrowers paying (rather than defaulting borrowers), the value of MBS would rise above garbage.
I have always been consistent in advocating loans, but truly time is of the essence. Get something done now. There are tons of businesses folding or on the brink of folding.
I agree with you! Restructure the notes.If the MBS actually had performing borrowers paying (rather than defaulting borrowers), the value of MBS would rise above garbage.
"Get something done now"
Paulsen/FED can create and disburse fiat money out of thin air in milliseconds.
does it account for the jobs lost during the hurricane....
Yeah...it sucks and it's going to get worse once McCain loses. We started moving towards our potential tax increase plan once Obama started pulling away in the polls. Lots of jobs going to be lost around here if he gets elected and actually raises corporate taxes.
Corp. taxes.
Little know last year, Texas enacted a newly designed Franchise Tax.
The old one cost my company $250 bucks; the new one - $15,000.
Essentially corporate income tax. The bills were due over the past couple of months.
Would be interesting to see how Texas might have contributed to those U/E numbers.
A good question.
If the answer is "Yes"....expect to see that reported a couple of days after the election.
It was funny how TONS of good economic news about the economy came pouring out of the MSM in November of '92. Not saying this is nearly the same cir stance as then, but then it was pretty obvious at the time.
Yeah...it was a pretty steep incline for us as well but it's just a drop in the bucket since TX is less than 10% of our sales nationwide. Moving back to a higher Fed Tax rate is going to be the killer.
Can we finally admit we are in a recession now? , we've been in a recession for months but the gov'ment can't fluff the numbers enough anymore...The US economy lost 159,000 jobs last month. If we keep messing around, expect that number to double in no time.
Well, if the stock market is to be an indication, the bailout is wrong. Not right. See my new thread.
Look at my graph!
Read my thread!
My God, you are pathetic. I pity you.
Look at my graph!
Read my thread!
You must have such low self esteem, the only way you make it through the day is to make fun of others. You're such a loser. Again, I pity you.
My God Man!!!!
Maybe, it's not that it's wrong (which I think this bill is weak) but that it's not enough..
Yahoo NewsNEW YORK - The credit markets finally got a bailout bill, but the stranglehold hasn't let up — a troubling sign that lenders and investors believe the package will only be a baby step in the long road to economic recovery.
The credit markets, where companies go to get cash loans, have seized up since the bankruptcy of Lehman Brothers Holdings Inc. and in anticipation of the $700 billion plan initially voted down by the House. The House passed a revised version of it Friday following the Senate's approval earlier this week, but anxiety about its effectiveness kept demand for Treasury bills high and nearly nonexistent for other types of debt.
Overall, market participants have begun regarding the rescue plan as a medicine for what's ailing the financial system, but not a cure-all.
<snip>
Some are worried, though, that the plan will not work at all.
I admit I pick the low hanging fruit. Quit making it so easy.
So does anyone have data on what types of jobs were lost? Because my company has about $150M of backlog of work, but it's hard to fill the positions.
Must be a skilled labor job. Supply and demand. If they cannot bring in help, they are not paying enough!
My opinion is that the job losses are primarily lazy or people expecting only high wages, being repleced by illegal workers.
THERE ARE PLENTY OF JOBS OUT THERE PEOPLE! They may not pay as much as you like, but they are there!
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