Senior Democrat Conyers criticizes Obama - CNN.com:
"Washington (CNN) -- Senior Democrat John Conyers of Michigan criticized Barack Obama Monday, hoping, Conyers said, to 'make him a better president.'
Citing the troubled job market, rising energy costs, and turmoil in the Middle East, Conyers told reporters at the National Press Club: 'We keep getting a longer and longer list of things he wanted to do, wished he could do more about, and is of course having a big problem.'"
How's that socialism experiment working out for ya, Conyers?
Tuesday, March 15, 2011
Monday, February 28, 2011
3M CEO: Obama is "anti-business"
3M CEO: Obama is "anti-business" - Feb. 28, 2011:
"NEW YORK (CNNMoney) -- The head of industrial conglomerate 3M (MMM, Fortune 500) blasted the president as being 'anti-business,' claiming Obama has not done anything to improve the White House's relationship with Corporate America.
3M CEO George Buckley called Obama's policies 'Robin Hood-esque' and told the Financial Times that manufacturers like 3M may have to shift production to other countries in order to stay competitive. 'We know what his instincts are ... he is anti business,' Buckley said in an interview that ran late Sunday."
Its about time someone called out the current administration. Destroying businesses is NOT the way to create jobs. The big boys will simply move their factories and offices overseas, where labor is cheap and governments actually, ahem, help businesses to succeed. Smaller businesses don't stand a chance, and since small businesses are (were) the largest employers - say goodbye to whatever hopes are left of an economic recovery.
But our government does everything in its power, from over-regulation to over-taxation, to shut down any and every kind of business within the US. What kind of fiscal genius would even think of taxing a company out of business? Isn't it commonsense to realize that shutting down a business also shuts down the tax revenue stream? Commonsense, apparently, is uncommon in D.C.
"NEW YORK (CNNMoney) -- The head of industrial conglomerate 3M (MMM, Fortune 500) blasted the president as being 'anti-business,' claiming Obama has not done anything to improve the White House's relationship with Corporate America.
3M CEO George Buckley called Obama's policies 'Robin Hood-esque' and told the Financial Times that manufacturers like 3M may have to shift production to other countries in order to stay competitive. 'We know what his instincts are ... he is anti business,' Buckley said in an interview that ran late Sunday."
Its about time someone called out the current administration. Destroying businesses is NOT the way to create jobs. The big boys will simply move their factories and offices overseas, where labor is cheap and governments actually, ahem, help businesses to succeed. Smaller businesses don't stand a chance, and since small businesses are (were) the largest employers - say goodbye to whatever hopes are left of an economic recovery.
But our government does everything in its power, from over-regulation to over-taxation, to shut down any and every kind of business within the US. What kind of fiscal genius would even think of taxing a company out of business? Isn't it commonsense to realize that shutting down a business also shuts down the tax revenue stream? Commonsense, apparently, is uncommon in D.C.
Sunday, February 13, 2011
Small business lending slashed by $43 billion last year
Small business lending slashed by $43 billion last year - Feb. 11, 2011:
"NEW YORK (CNNMoney) -- The numbers back up what small business owners have been saying for two years: Main Street suffered a brutal credit crunch.
The total value of outstanding loans to small businesses plunged by $43 billion, or 6.2%, between June 2009 and June 2010, according to a report released this week by the Small Business Administration. That's a drop of $59 billion, or 8.3%, from June 2008."
Oh look, the SBA took just two years to recognize the obvious. The banks have contributed to (if not been totally responsible for) the current "economy". By throttling small businesses by withholding loans, they have squashed tens of thousands of businesses and cost millions of jobs. And all this in spite of the generous "bailouts" that the Obama administration has showered on them, which of course was squandered on generous bonuses and raises to the banks' top management. As small businesses crash and burn, the big corporations quietly swoop in and corner their market. Of course they have no problem getting loans from the banks, in addition to sitting on hundreds of billions in cash.
"The Small Business Jobs Act, passed in September, authorized the creation of a $30 billion fund run by the Treasury Department that offers ultra-cheap capital to banks with less than $10 billion in assets. The idea is that pumping capital into small banks will get money in the hands of Main Street businesses."
And the Obama administration's solution to this? Oh great, yet another bailout. Thirty billion was a nice New Year bonus, don'tcha think? The cash never made it beyond the banks payroll. Thirty big-big ones for American taxpayers to cough up, again.
"NEW YORK (CNNMoney) -- The numbers back up what small business owners have been saying for two years: Main Street suffered a brutal credit crunch.
The total value of outstanding loans to small businesses plunged by $43 billion, or 6.2%, between June 2009 and June 2010, according to a report released this week by the Small Business Administration. That's a drop of $59 billion, or 8.3%, from June 2008."
Oh look, the SBA took just two years to recognize the obvious. The banks have contributed to (if not been totally responsible for) the current "economy". By throttling small businesses by withholding loans, they have squashed tens of thousands of businesses and cost millions of jobs. And all this in spite of the generous "bailouts" that the Obama administration has showered on them, which of course was squandered on generous bonuses and raises to the banks' top management. As small businesses crash and burn, the big corporations quietly swoop in and corner their market. Of course they have no problem getting loans from the banks, in addition to sitting on hundreds of billions in cash.
"The Small Business Jobs Act, passed in September, authorized the creation of a $30 billion fund run by the Treasury Department that offers ultra-cheap capital to banks with less than $10 billion in assets. The idea is that pumping capital into small banks will get money in the hands of Main Street businesses."
And the Obama administration's solution to this? Oh great, yet another bailout. Thirty billion was a nice New Year bonus, don'tcha think? The cash never made it beyond the banks payroll. Thirty big-big ones for American taxpayers to cough up, again.
Friday, February 4, 2011
January jobs report: Payrolls up, unemployment fell to 9.0%
January jobs report: Payrolls up, unemployment fell to 9.0% - Feb. 4, 2011:
"NEW YORK (CNNMoney) -- Winter weather kept job seekers home and offices closed in January, getting the year off to a disappointing start, while the unemployment rate took a surprising tumble.
The economy added just 36,000 jobs in January, falling far short of expectations. Meanwhile, the unemployment rate unexpectedly sunk to 9%, down from 9.4% the month before."
Here is a real conundrum. How can less jobs being added give us a lower unemployment rate? Oh, here is how Uncle Sam does some fuzzy math.
"About 504,000 adults dropped out of the labor force in January for various reasons, bringing the unemployment rate down because they were no longer counted as unemployed.
Adding to economists' confusion, the Labor Department readjusted their calculations in January to reflect the latest Census data. So some of January's drop in the unemployment rate was due to "annual tweaking of the population data," Ian Shepherdson, chief U.S. economist with High Frequency Economics, said in a research note."
Thats convenient. Just stop counting the half million people who stop looking for jobs, each month. Soon, the unemployment numbers will drop to zero, maybe even into negative percentages. Then "tweak" the numbers a wee bit this way and that, and viola. The people nod and ooh and ahh and vote for the same clowns for another term.
Yeah, that sounds like something to expect from D.C.
"NEW YORK (CNNMoney) -- Winter weather kept job seekers home and offices closed in January, getting the year off to a disappointing start, while the unemployment rate took a surprising tumble.
The economy added just 36,000 jobs in January, falling far short of expectations. Meanwhile, the unemployment rate unexpectedly sunk to 9%, down from 9.4% the month before."
Here is a real conundrum. How can less jobs being added give us a lower unemployment rate? Oh, here is how Uncle Sam does some fuzzy math.
"About 504,000 adults dropped out of the labor force in January for various reasons, bringing the unemployment rate down because they were no longer counted as unemployed.
Adding to economists' confusion, the Labor Department readjusted their calculations in January to reflect the latest Census data. So some of January's drop in the unemployment rate was due to "annual tweaking of the population data," Ian Shepherdson, chief U.S. economist with High Frequency Economics, said in a research note."
Thats convenient. Just stop counting the half million people who stop looking for jobs, each month. Soon, the unemployment numbers will drop to zero, maybe even into negative percentages. Then "tweak" the numbers a wee bit this way and that, and viola. The people nod and ooh and ahh and vote for the same clowns for another term.
Yeah, that sounds like something to expect from D.C.
Wednesday, February 2, 2011
Job market looks stronger, maybe
ADP, Challenger data: Signs of strength in January - Feb. 2, 2011:
"Job market looks stronger ahead of Friday report
NEW YORK (CNNMoney) -- The job market started 2011 on solid footing, according to two separate reports released Wednesday.
Payrolls among private employers rose by 187,000 in January, payroll processor ADP said. Analysts polled by Briefing.com were predicting 145,000 jobs added for the month."
A whisper of good news after a year in the economic doldrums and a hideous winter season for the northern States.
On the other side of the coin (which, in this economy, can best be described as haypenny), the article goes on to drop the disclaimer:
"Economists are also cautious about completely trusting the ADP and Challenger reports. For the last six months, the ADP figure has missed the government's reading on private payrolls by an average of 96,000 jobs, said Jennifer Lee, an economist with BMO Capital Markets.
Ahead of the Friday jobs report, economists surveyed by CNNMoney are predicting the economy added 149,000 jobs and the unemployment rate ticked up to 9.5% in January."
So we wait for the "report" (drum-roll) due out on Friday. That is, if we don't get hit by an iceberg till then.
"Job market looks stronger ahead of Friday report
NEW YORK (CNNMoney) -- The job market started 2011 on solid footing, according to two separate reports released Wednesday.
Payrolls among private employers rose by 187,000 in January, payroll processor ADP said. Analysts polled by Briefing.com were predicting 145,000 jobs added for the month."
A whisper of good news after a year in the economic doldrums and a hideous winter season for the northern States.
On the other side of the coin (which, in this economy, can best be described as haypenny), the article goes on to drop the disclaimer:
"Economists are also cautious about completely trusting the ADP and Challenger reports. For the last six months, the ADP figure has missed the government's reading on private payrolls by an average of 96,000 jobs, said Jennifer Lee, an economist with BMO Capital Markets.
Ahead of the Friday jobs report, economists surveyed by CNNMoney are predicting the economy added 149,000 jobs and the unemployment rate ticked up to 9.5% in January."
So we wait for the "report" (drum-roll) due out on Friday. That is, if we don't get hit by an iceberg till then.
Friday, January 28, 2011
Survey of business economists shows improved jobs outlook
Survey of business economists shows improved jobs outlook - Jan. 24, 2011:
"Economists see more hiring on the way
By Charles Riley, staff reporter
January 24, 2011: 11:16 AM ET
NEW YORK (CNNMoney) -- In another sign of a strengthening economy, U.S. companies say they are planning to hire more workers, and expect economic growth to pick up in the first months of 2011, according to a survey released Monday.
The National Association for Business Economics said the hiring outlook for the next six months is at a 12-year high."
How about that! Will the sun peep out over the job market horizon, at long last? With a new Congress in D.C. and the promises of supporting small businesses in the coming year(s), is this really a turning point for the jobs market in the US?
"Economists see more hiring on the way
By Charles Riley, staff reporter
January 24, 2011: 11:16 AM ET
NEW YORK (CNNMoney) -- In another sign of a strengthening economy, U.S. companies say they are planning to hire more workers, and expect economic growth to pick up in the first months of 2011, according to a survey released Monday.
The National Association for Business Economics said the hiring outlook for the next six months is at a 12-year high."
How about that! Will the sun peep out over the job market horizon, at long last? With a new Congress in D.C. and the promises of supporting small businesses in the coming year(s), is this really a turning point for the jobs market in the US?
Saturday, January 22, 2011
The upcoming State of Confusion address
Obama's economic agenda: Boost US competitiveness
"By JULIE PACE Associated Press
WASHINGTON (AP) -- Under pressure to energize the economy, President Barack Obama will put job creation and American competitiveness at the center of his State of the Union address, ..."
How astute! It only took, what, 2 years to figure this out?
"... promoting spending on education and research while pledging to trim the nation's soaring debt. Obama hopes this framework will woo Republicans as he searches for success in a divided Congress and will sway a wary private sector to hire and spend money it's held back. The economy is on firmer footing than when he took office two years ago, and his emphasis on competitiveness signals a shift from policies geared toward short-term stabilization to ones with steady and long-term growth in mind."
You don't say! When will this administration, and the new Congress, figure out that small business is the key to a strong economy. Taxing small businesses out of business does NOT raise any revenue or create any jobs. It is short sighted and foolish, and onerous regulations such as the hidden 1099 tax change due to kick in for 2012 is a classic case of Congressional stupidity.
"By JULIE PACE Associated Press
WASHINGTON (AP) -- Under pressure to energize the economy, President Barack Obama will put job creation and American competitiveness at the center of his State of the Union address, ..."
How astute! It only took, what, 2 years to figure this out?
"... promoting spending on education and research while pledging to trim the nation's soaring debt. Obama hopes this framework will woo Republicans as he searches for success in a divided Congress and will sway a wary private sector to hire and spend money it's held back. The economy is on firmer footing than when he took office two years ago, and his emphasis on competitiveness signals a shift from policies geared toward short-term stabilization to ones with steady and long-term growth in mind."
You don't say! When will this administration, and the new Congress, figure out that small business is the key to a strong economy. Taxing small businesses out of business does NOT raise any revenue or create any jobs. It is short sighted and foolish, and onerous regulations such as the hidden 1099 tax change due to kick in for 2012 is a classic case of Congressional stupidity.
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