Ronald Reagan inherited the same U/E rate as Obama and did not whine about his predecessor, 'headwinds' Congress or anything else, he focused on fixing the problems with the economy. Obama? Not so much:
The government reported Friday that the nation added 175,000 jobs in May, continuing a 32-month run of job gains. The unemployment rate moved up slightly to 7.6 percent, from 7.5 percent in April.
But overall employment in the United States remained 2.1 percent below where it was at the end of 2007, according to the statistics bureau. By comparison, over the same period, between December 2007 and March 2013, the number of jobs was up 8.1 percent in Australia; Germany, the biggest economy in the troubled euro zone, has managed a 5.8 percent gain in employment.
Only 1.9 million jobs have been created since Jan 2009. That is not a typo, not a year, 1.9 million total. At the May job creation pace, the US will be back to 5% unemployment in 58 months.
Contrast: In April 1984, the economy added 363,000 jobs. In the first four months of 1984, employment growth hit 1,564,000
This "recovery" is pathetic
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To remove first post, remove entire topic.
Ronald Reagan inherited the same U/E rate as Obama and did not whine about his predecessor, 'headwinds' Congress or anything else, he focused on fixing the problems with the economy. Obama? Not so much:
The government reported Friday that the nation added 175,000 jobs in May, continuing a 32-month run of job gains. The unemployment rate moved up slightly to 7.6 percent, from 7.5 percent in April.
But overall employment in the United States remained 2.1 percent below where it was at the end of 2007, according to the statistics bureau. By comparison, over the same period, between December 2007 and March 2013, the number of jobs was up 8.1 percent in Australia; Germany, the biggest economy in the troubled euro zone, has managed a 5.8 percent gain in employment.
Only 1.9 million jobs have been created since Jan 2009. That is not a typo, not a year, 1.9 million total. At the May job creation pace, the US will be back to 5% unemployment in 58 months.
Contrast: In April 1984, the economy added 363,000 jobs. In the first four months of 1984, employment growth hit 1,564,000
despite all the attention federal spending cuts and sequestration have received, our calculations suggest they are not the main contributors to this projected drag. The excess fiscal drag on the horizon comes almost entirely from rising taxes.
despite all the attention federal spending cuts and sequestration have received, our calculations suggest they are not the main contributors to this projected drag. The excess fiscal drag on the horizon comes almost entirely from rising taxes.
Japanese Prime Minister Shinzo Abe said on Sunday the government would decide on tax cuts in autumn to encourage companies to boost capital expenditure as part of sweeping reforms to revive the economy from nearly two decades of stagnation.
The government will also work on legislation to scrap regulations hampering corporate research and investment and secure passage in parliament in autumn, he said.
"We'd like to decide on bold tax cuts for capital expenditure in autumn," Abe told public broadcaster NHK.
Japanese Prime Minister Shinzo Abe said on Sunday the government would decide on tax cuts in autumn to encourage companies to boost capital expenditure as part of sweeping reforms to revive the economy from nearly two decades of stagnation.
The government will also work on legislation to scrap regulations hampering corporate research and investment and secure passage in parliament in autumn, he said.
"We'd like to decide on bold tax cuts for capital expenditure in autumn," Abe told public broadcaster NHK.
14 you really need to do some homework with your cut and paste jobs, it is so predictable and sad. Showing you where you are mistaken is just way too easy sometimes.
Reagan's 1983 State of the Union Address Transcript:
The problems we inherited were far worse than most inside and out of government had expected; the recession was deeper than most inside and out of government had predicted. Curing those problems has taken more time and a higher toll than any of us wanted. Unemployment is far too high. Projected Federal spending--if government refuses to tighten its own belt--will also be far too high and could weaken and shorten the economic recovery now underway.
He basically is blaming Carter here in a high profile speech.
I am interested to hear your response to this as you frequently have said that you never ever predicted a Romney victory ! Perhaps one of your buddies can bail you out here?
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14 you really need to do some homework with your cut and paste jobs, it is so predictable and sad. Showing you where you are mistaken is just way too easy sometimes.
Reagan's 1983 State of the Union Address Transcript:
The problems we inherited were far worse than most inside and out of government had expected; the recession was deeper than most inside and out of government had predicted. Curing those problems has taken more time and a higher toll than any of us wanted. Unemployment is far too high. Projected Federal spending--if government refuses to tighten its own belt--will also be far too high and could weaken and shorten the economic recovery now underway.
He basically is blaming Carter here in a high profile speech.
I am interested to hear your response to this as you frequently have said that you never ever predicted a Romney victory ! Perhaps one of your buddies can bail you out here?
“Over the last four years, the deficit has gone up, but 90 percent of that is as a consequence of two wars that weren’t paid for, as a consequence of tax cuts that weren’t paid for, a prescription drug plan that was not paid for, and then the worst economic crisis since the Great Depression,” Obama declared.
Statement of fact:
The problems we inherited were far worse than most inside and out of government had expected;
Anyway, arguing facts with the left is boring.
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See, let's contrast. Blaming someone else:
“Over the last four years, the deficit has gone up, but 90 percent of that is as a consequence of two wars that weren’t paid for, as a consequence of tax cuts that weren’t paid for, a prescription drug plan that was not paid for, and then the worst economic crisis since the Great Depression,” Obama declared.
Statement of fact:
The problems we inherited were far worse than most inside and out of government had expected;
Obama recovery going so well that 2/3rds of people are delaying retirement
Nearly two-thirds of Americans between the ages of 45 and 60 say they plan to delay retirement, according to a report to be released Friday by the Conference Board. That was a steep jump from just two years earlier, when the group found that 42% of respondents expected to put off retirement.
Obama recovery going so well that 2/3rds of people are delaying retirement
Nearly two-thirds of Americans between the ages of 45 and 60 say they plan to delay retirement, according to a report to be released Friday by the Conference Board. That was a steep jump from just two years earlier, when the group found that 42% of respondents expected to put off retirement.
Reagan was pretty near the start of the end of the blue collar era..
Now we have low paying, lousy service based economy because we allow offshoring of the jobs that actually pay.
We dug this hole spanning a good ten plus years, I imagine with the lack of basic labor jobs that created the middle class that we will take a decade plus PLUS before we drop below the historical average for UE rate.
What matters much more than a phony UE number (it is totally phony) is the chasm between the upper and lower class, that people who have JOBS are not able to keep ahead and plan for the future because the bulk of jobs being "created" are low paying, low benefit crap jobs.
And to top this we are robbing the earning class by keeping rates at zero to prop high net worth assets..at the expense of the lower class (yet again).
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Reagan was pretty near the start of the end of the blue collar era..
Now we have low paying, lousy service based economy because we allow offshoring of the jobs that actually pay.
We dug this hole spanning a good ten plus years, I imagine with the lack of basic labor jobs that created the middle class that we will take a decade plus PLUS before we drop below the historical average for UE rate.
What matters much more than a phony UE number (it is totally phony) is the chasm between the upper and lower class, that people who have JOBS are not able to keep ahead and plan for the future because the bulk of jobs being "created" are low paying, low benefit crap jobs.
And to top this we are robbing the earning class by keeping rates at zero to prop high net worth assets..at the expense of the lower class (yet again).
what incentives are we giving companies to reshore?
Reshoring has started in manufacturing only bc of poor quality from overseas and the fact that capital investments here have increased productivity neither of which the feds are truly helping with.
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wall
what incentives are we giving companies to reshore?
Reshoring has started in manufacturing only bc of poor quality from overseas and the fact that capital investments here have increased productivity neither of which the feds are truly helping with.
what incentives are we giving companies to reshore?
Reshoring has started in manufacturing only bc of poor quality from overseas and the fact that capital investments here have increased productivity neither of which the feds are truly helping with.
That doesnt work with me..reason being corporations are seeking MARGIN..
Once you drink from the foreign labor pool how ever can you come back?
We have discussed the tax issue before, the net change in labor costs dwarfs all and any taxation which corporations bear.
The profits most large corps have are at historic highs because of tax holes, offshoring labor costs and overworking what domestic labor that does exist.
I have ZERO sympathy for corporations..are they suffering in this low interest rate environment?
Corporations get to offshore labor, cheat the tax code, finance operations at HISTORIC low rates..how exactly are we to pity corporations?
If anything, corporations are like teenagers who look to cheat at any turn..until you punish them enough, the nature of cheating and loopholing will always exist.
To me corporations have ruined politics and have gutted the middle class..the numbers support this contention and until the public or government use stronger measures NOTHING will change.
Bowing to corporations by reducing taxation does nothing for the middle class, corporations do not hire due to cash in the bank, they pay BONUSES with cash in the bank, they buy other companies to offshore their operations and consolidate with cash in the bank.
Its so obvious..I dont get how some are so fooled by not understanding the historic nature of behavior by corporations and owners of wealth.
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Quote Originally Posted by lordspoint:
wall
what incentives are we giving companies to reshore?
Reshoring has started in manufacturing only bc of poor quality from overseas and the fact that capital investments here have increased productivity neither of which the feds are truly helping with.
That doesnt work with me..reason being corporations are seeking MARGIN..
Once you drink from the foreign labor pool how ever can you come back?
We have discussed the tax issue before, the net change in labor costs dwarfs all and any taxation which corporations bear.
The profits most large corps have are at historic highs because of tax holes, offshoring labor costs and overworking what domestic labor that does exist.
I have ZERO sympathy for corporations..are they suffering in this low interest rate environment?
Corporations get to offshore labor, cheat the tax code, finance operations at HISTORIC low rates..how exactly are we to pity corporations?
If anything, corporations are like teenagers who look to cheat at any turn..until you punish them enough, the nature of cheating and loopholing will always exist.
To me corporations have ruined politics and have gutted the middle class..the numbers support this contention and until the public or government use stronger measures NOTHING will change.
Bowing to corporations by reducing taxation does nothing for the middle class, corporations do not hire due to cash in the bank, they pay BONUSES with cash in the bank, they buy other companies to offshore their operations and consolidate with cash in the bank.
Its so obvious..I dont get how some are so fooled by not understanding the historic nature of behavior by corporations and owners of wealth.
As part of Apple's product announcements yesterday, they did say that they will be building the new Mac in America.
It's a start.
Thats pretty broad of a comment..who knows what they will be building..
We have seen this sort of statement before only to have it be that the bulk of the manufacturing work is done offshore and the finishing work is done here.
Apple is one of the worst offenders out there with regard to margin hunting. I dont have a problem with companies making profits, but Apple has exploited and trashed this country and our open approach to manufacturing.
Until the rules are changed to make it more costly to offshore, it will continue. The USG should treat ANY company that offshores as a fully foreign entity and import tax their products as we do to other foreign corps/entities.
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Quote Originally Posted by 14daroad:
As part of Apple's product announcements yesterday, they did say that they will be building the new Mac in America.
It's a start.
Thats pretty broad of a comment..who knows what they will be building..
We have seen this sort of statement before only to have it be that the bulk of the manufacturing work is done offshore and the finishing work is done here.
Apple is one of the worst offenders out there with regard to margin hunting. I dont have a problem with companies making profits, but Apple has exploited and trashed this country and our open approach to manufacturing.
Until the rules are changed to make it more costly to offshore, it will continue. The USG should treat ANY company that offshores as a fully foreign entity and import tax their products as we do to other foreign corps/entities.
What cost "savings" is greater to a company, the differential of corporate tax rates or the differential of labor rates?
We've already been through this and you don't know what Apple pays for labor.
Anyway:
all iPhones contain hundreds of parts, an estimated 90 percent of which are manufactured abroad. Advanced semiconductors have come from Germany and Taiwan, memory from Korea and Japan, display panels and circuitry from Korea and Taiwan, chipsets from Europe and rare metals from Africa and Asia. And all of it is put together in China.
...
For technology companies, the cost of labor is minimal compared with the expense of buying parts and managing supply chains that bring together components and services from hundreds of companies.
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Quote Originally Posted by wallstreetcappers:
What cost "savings" is greater to a company, the differential of corporate tax rates or the differential of labor rates?
We've already been through this and you don't know what Apple pays for labor.
Anyway:
all iPhones contain hundreds of parts, an estimated 90 percent of which are manufactured abroad. Advanced semiconductors have come from Germany and Taiwan, memory from Korea and Japan, display panels and circuitry from Korea and Taiwan, chipsets from Europe and rare metals from Africa and Asia. And all of it is put together in China.
...
For technology companies, the cost of labor is minimal compared with the expense of buying parts and managing supply chains that bring together components and services from hundreds of companies.
Unemployment rate was 10% during Obama's first year in office and has been falling gradually since then to 7+%. Silly to blame governments for weak economy. Governments may slightly influence economy but the economy controls itself. Even if Reagan is President in 2013, he cannot change today's economy. Besides, Congress and federal reserve are bigger influences on the economy than the President.
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Unemployment rate was 10% during Obama's first year in office and has been falling gradually since then to 7+%. Silly to blame governments for weak economy. Governments may slightly influence economy but the economy controls itself. Even if Reagan is President in 2013, he cannot change today's economy. Besides, Congress and federal reserve are bigger influences on the economy than the President.
Unemployment rate was 10% during Obama's first year in office and has been falling gradually since then to 7+%.
The only reason the U/E rate has dropped is because the labor participation rate has fallen so fast.
In other words, there are fewer people working in America today than when Obama was sworn in. In fact, there are fewer people working in America today than at the height of the 1982 recession.
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Quote Originally Posted by thirdperson:
Unemployment rate was 10% during Obama's first year in office and has been falling gradually since then to 7+%.
The only reason the U/E rate has dropped is because the labor participation rate has fallen so fast.
In other words, there are fewer people working in America today than when Obama was sworn in. In fact, there are fewer people working in America today than at the height of the 1982 recession.
Now Apple could import all those parts from all over the world and assemble the iPhone in California, but the price of the phone would obviously be higher. Apple could also try and buy or manufacture all of those parts in America (or most of them) and assemble the iPhone in California, but the cost of the iPhone would be significantly higher.
So they reduced their production costs by moving to a place that allows better supply chain and distribution management.
I don't have a problem with that at all.
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Now Apple could import all those parts from all over the world and assemble the iPhone in California, but the price of the phone would obviously be higher. Apple could also try and buy or manufacture all of those parts in America (or most of them) and assemble the iPhone in California, but the cost of the iPhone would be significantly higher.
So they reduced their production costs by moving to a place that allows better supply chain and distribution management.
While I agree with some of your points, I do not think punishing companies is any incentive. The only caveat to that being that, yes if you manufacture overseas to sell domestically then they should indeed pay some sort of importation tax - domestic tarfiff?
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wall,
While I agree with some of your points, I do not think punishing companies is any incentive. The only caveat to that being that, yes if you manufacture overseas to sell domestically then they should indeed pay some sort of importation tax - domestic tarfiff?
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