"Recovery Summer"

[RIJIMMY]

The problem is that private business will almost always take the path of least resistance which means short term shareholder value.
-spence

I really cant believe you said that.


Oh and by the way......
WASHINGTON (AP) -- Unemployment rates rose last month in more than half of the nation's largest metro areas, driven higher by weak private-sector hiring and natural disasters.

The unemployment rate increased in 210 metro areas in May, the Labor Department said Wednesday. It fell in 131 cities and remained unchanged in 37. That's a sharp reversal from April, when unemployment rates dropped in more than 90 percent of metro areas.

Nationwide, the unemployment rate ticked up in May to 9.1 percent and employers added just 54,000 net jobs. Employers added an average of 220,000 jobs per month in the previous three months.

[justplugit]

Originally Posted by RIJIMMY

Nationwide, the unemployment rate ticked up in May to 9.1 percent and employers added just 54,000 net jobs..

I wonder what % of those 54,000 jobs were temporary summer jobs
sought by High School and College kids?

[spence]

Originally Posted by RIJIMMY

I really cant believe you said that.

Why?

Oh and by the way......
WASHINGTON (AP) -- Unemployment rates rose last month in more than half of the nation's largest metro areas, driven higher by weak private-sector hiring and natural disasters.

The unemployment rate increased in 210 metro areas in May, the Labor Department said Wednesday. It fell in 131 cities and remained unchanged in 37. That's a sharp reversal from April, when unemployment rates dropped in more than 90 percent of metro areas.

Nationwide, the unemployment rate ticked up in May to 9.1 percent and employers added just 54,000 net jobs. Employers added an average of 220,000 jobs per month in the previous three months.

The unemployment rate isn't going to drop dramatically until we can create new growth industries.

Case in point. One manufacturing sub-segment (in aerospace) that I deal with is seeing a big increase in business right here in New England. Rather than add staff (i.e. burden) to meet increased demand, they're looking to apply technology to improve the productivity of the existing workforce.

So the unemployment rate stays the same, but the aerospace supplier and my company both benefit.

There's a reason to DOW is nearly 12,600 on Friday not even two years after a massive recession. But no, you just want to claim Obama is a failure.

If we could only get this government off our back...oy vey.

-spence

[scottw]

Originally Posted by spence

There's a reason to DOW is nearly 12,600 on Friday not even two years after a massive recession. But no, you just want to claim Obama is a failure.

-spence

yeah...it's called QE2

Dow Up 20 Percent Since QE2 Began

Thursday, 30 Jun 2011 | 10:41 AM
The Federal Reserve headquarters in Washington, DC.

The market began its current rally ten months ago when Fed Chairman Ben Bernanke first hinted at a second quantitative easing (QE2) program during his speech at Jackson Hole, Wyoming on August 27:

“Notwithstanding the fact that the policy rate is near its zero lower bound, the Federal Reserve retains a number of tools and strategies for providing additional stimulus….A first option for providing additional monetary accommodation, if necessary, is to expand the Federal Reserve's holdings of longer-term securities.”

Thursday marks the end of a $600 billion bond-buying program by the Federal Reserve.

Even as the country’s unemployment levels remained high, the QE2 rally erased the market’s post-Lehman bankruptcy losses, pushing stocks all the way up to multi-year highs back in April of this year.

Sitting at those highs two months ago, the Dow had risen 28 percent from its levels prior to Chairman Bernanke’s speech, while the S&P 500 had jumped 30 percent and the Nasdaq Composite had soared 36 percent from their levels seen before the start of QE2.


Even as economic growth has shown signs of sputtering over the past couple of months, causing stocks to retreat off their April highs, the Dow and S&P are still up more than 20 percent since the end of last August.

.................................

Fed's Massive Stimulus Had Little Impact: Greenspan
Published: Thursday, 30 Jun 2011 | 5:24 PM ETSpecial to CNBC.com

The Federal Reserve's massive stimulus program had little impact on the U.S. economy besides weakening the dollar and helping U.S. exports, Federal Reserve Governor Alan Greenspan told CNBC Thursday.

In a blunt critique of his successor, Fed Chairman Ben Bernanke, Greenspan said the $2 trillion in quantative easing over the past two years had done little to loosen credit and boost the economy.

"There is no evidence that huge inflow of money into the system basically worked," Greenspan said in a live interview.

[scottw]

Originally Posted by spence

The unemployment rate isn't going to drop dramatically until we can create new growth industries.

There's a reason to DOW is nearly 12,600 on Friday not even two years after a massive recession. But no, you just want to claim Obama is a failure.

If we could only get this government off our back...oy vey.

-spence

oy vey

Home Depot founder Bernie Marcus did not mince words speaking with Investor's Business Daily:

Having built a small business into a big one, I can tell you that today the impediments that the government imposes are impossible to deal with. Home Depot would never have succeeded if we'd tried to start it today. Every day you see rules and regulations from a group of Washington bureaucrats who know nothing about running a business. And I mean every day. It's become stifling.

If you're a small businessman, the only way to deal with it is to work harder, put in more hours, and let people go. When you consider that something like 70% of the American people work for small businesses, you are talking about a big economic impact.

and

[Washington piles on regulations and mandates, the impact is tremendous. I don't think he's a bad guy. I just think he has no knowledge of this.Obama has] never really worked a day outside the political or legal area. He doesn't know how to make a payroll, he doesn't understand the problems businesses face. I would try to explain that the plight of the businessman is very reactive to Washington.

Meanwhile, IBD tallies the magnates, including billionaire Steve Wynn and non-founder CEOs, who are blasting Obama's economy.

Wynn has been a staunch supporter of the Obama administration from the beginning and still considers himself a Democrat. But even more remarkable, it's been out of character for CEOs such as Wynn to express their views in such blunt terms on political matters.

"A lot of people don't want to say that," he said. "They'll say, 'Oh God, don't be attacking Obama.' Well, this is Obama's deal, and it's Obama that's responsible for this fear in America," said Wynn. "The guy keeps making speeches about redistribution, and maybe 'we ought to do something to businesses that don't invest or (are) holding too much money.' We haven't heard that kind of talk except from pure socialists."[/B]

Business is being hammered, he said. "And I'm telling you that the business community in this country is frightened to death of the weird political philosophy of the president of the United States."

Others speaking out include:

•3M's George Buckley, who blasted Obama last February as anti-business. "We know what his instincts are," Buckley said. "We've got a real choice between manufacturing in Canada or Mexico - which tends to be more pro-business - and America," he told the Financial Times.

•Boeing's Jim McNerney, who in the Wall Street Journal last May called Obama's handpicked National Labor Relations Board's suit against his company a "fundamental assault on the capitalist principles that have sustained America's competitiveness since it became the world's largest economy nearly 140 years ago."

•Intel's Paul Otellini, who told CNET last August that the U.S. legal environment has become so hostile to business that there is likely to be "an inevitable erosion and shift of wealth, much like we're seeing today in Europe - this is the bitter truth."


just a sample, there are more.....

[justplugit]

Originally Posted by scottw

If you're a small businessman, the only way to deal with it is to work harder, put in more hours, and let people go. When you consider that something like 70% of the American people work for small businesses, you are talking about a big economic impact.
__________________________________________________ ___________

This is the plight of all the small business owners I know.

__________________________________________________ ____________
I don't think he's a bad guy. I just think he has no knowledge of this.Obama has] never really worked a day outside the political or legal area. He doesn't know how to make a payroll, he doesn't understand the problems businesses face. .[/COLOR]

__________________________________________________ ___________
And there in lies the problem with Obama and most of congress.
Did he or anyone of them,deliever papers and cut lawns at 10 yrs old,
work as a janitor in a school when they got their working papers, work
on farms in the summer, work in a drugstore, start their own small business,
work whie going to college and work for a large corporation?

They don't have an inkling of what hard work,saving money and sacrifice are and therefore have no clue as to the workings of business.

Community Organizer, pfft. What the H???