stof said:
I really don't think that was a mistake at all. Haven't many analysts said that even during the recovery, substantial job creation won't be for a while, and if a recovery starts with the strengthening of financial institutions and ends with that leading to more jobs, doesn't that mean that the jobs come at the end portion of the recovery?
I'm not trying to make this a political argument (really, how obnoxious do you have to be to try and turn a dumb quote thread in to a political argument?) But he did say "at the end of", and not "after" And I a substantial drop in the unemployment rate is one of the latter occurances in the e
conomic recovery... then wouldn't what he said be right?
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You mean the analysts who have been 100% wrong for 2 years now? Why do we care what they say? They have been proven to be worthless.
The problem all along is not that banks won't lend because they can't. It's been banks won't lend because they are smart.
Millions more people are out of work today then they were a year ago. This means every company that manufactures something, or provides a service has a much smaller client base. They are hurting, so they want a loan. Problem is, nothing is going to stop that hurt. While people keep losing jobs, loaning money to a company that's already doing bad, is a bad idea.
So yes. You can prop up as many companies as you want with as many bailout dollars as you like, but until people go back to work, the economy will continue to fall. This is what we have been doing, and this is what's been happening.
It's not theory anymore. It's the reality of the last 2 years.
Obama and his crew are just too fucking stupid to realize this. They have watched it happen for years, and instead of saying "we were wrong", they say "we didn't do enough". It's infuriating to watch such utter incompetence run this nation, and for people to think it's going well.
Think about it this way. Bush was a fucking idiot. If he was still president, he would have done the exact same thing Obama has done. So, Obama is acting just like Bush, but it's the right thing to do? It's change? No. It's hiring a good looking, black berry toting, slick talking, young man who might be fit to be a used car salesman as the leader of the free world.
This recession is not over. We have not hit the bottom. Nothing indicates that we have, other then Obama saying we have.... again.