Sep 2, 8:57 AM (ET) (AP) WASHINGTON (AP) - Employers stopped adding jobs in August, an alarming setback for an economy that has struggled to grow and might be at risk of another recession. It was the weakest jobs report since September 2010. The unemployment rate remained at 9.1 percent. These are the expected results with a massive government blasting away at private business with a preponderance of confounding regulations and onerous corporate taxes. Business does not respond well to blatant socialism and Obama and his army of czars are socialists.
But they obviously respond well to rampant greed and recklessness that results in a crippling credit market...... :roll:
:twisted: You Have Barney Frank and his buddies to thank for that one....... Have your learned nothing. and the only one that can ruin credit is yourself. greed is and can be a persons worst enemy. You have to take responsiblilty for your actions alot of people dont they just want to buy and spend whether they can pay it back or not... they want something for nothing then complain when things go wrong. Interest rates and hard to get credit is caused by lack of responsibilty from the consumer who spends charges then refuses to payback what they borrowed. Thats where the problem lies if you want to blame someone blame the ones who dont pay their bills but continue to charge and spend. I have worked credit collections I get tired of people blaming others for their actions. Its time to grow up .. :?
You had six years of a GOP Congress and Pres..... I'm not talking about credit problems for individuals I'm talking about banks who were unwilling or unable to lend.....which sent the auto industry into a death spiral and housing and the economy into a deep deep recession that still plagues us. Look at the big picture here......jeezus.... And I'll say only one more thing to you about the egregious activities of credit card issuers..... I can't imagine many....if ANY...people in the early to mid-2000s when credit card debt began to get run up in this country who knowingly took on credit card debt with the knowledge that very easily.....and without provocation the issuers could charge exorbitant rates so high that it would make paying off cards almost impossible for the average consumer. Couple those rip-off rate changes with sudden loss of home equity and/or good paying jobs and the credit card user was caught in a whirpool and at the mercy of issuers hellbent on highway robbery. Thankfully the Credit Card Reform Act has held these hounds at bay and laughingly to me they have not won back the card users in spite of the checks put into place to curb their unsavory practices.
granted BT the auto industry had problems on their own but the one thing they could not.....did not survive was the inability of consumers to get car loans.....which began in earnest with the fall of Lehman Bros. and the resultant credit/housing crisis.
You are staggeringly consistent if nothing else......it's ALWAYS somebody else's fault. The notion of personal accountability and self-determination is just non-existent in your world...... You are of course entitled to your own opinion, but you are not entitled to your own set of facts......forgive me but in that regard you are extremely naive, grossly misinformed and frankly in my view completely incapable or unwilling to appreciate nor understand the key factors that led to the credit crisis......continue with your fairy tales.
You have never accepted the premise that the housing/credit crisis severely affected the auto industry. http://money.cnn.com/2008/09/30/autos/car_dealer_pain/index.htm "but Fitzpatrick thinks tight credit is doing even more damage. "We're seeing people with Beacon scores that are pretty darned good," Fitzpatrick said, "and the finance companies are just looking for reasons to turn them down." That was October 1st 2008. As we all know now.....things would get a lot.....lot worse for the housing industry, credit markets........and ultimately for auto dealers and manufacturers.
What I don't understand is how can the left keep crying about tax breaks and loopholes when they had 2 yrs. of a filibuster proof Senate, majority in the House and the White House. If there are inequities why the hell weren't they resolved during the Dem hay day? The fact is Obama and his Congress EXTENDED the "Bush tax cuts" (actually they were a rollback of the Clinton tax hikes) and the hypocrite still cries about the "rich not paying their fair share."
That statement is a compete and utter falsehood.....the credit crisis impacted every element of the economy in this country and every corner of the globe - without exception. You need to read that article more closely..... and let's be clear, a "finance company" is not a bank. The "finance companies" being specifically identified and most often discussed in the article are GMAC - yes as in that GM - and Chrysler Credit - yes, as in that Chrysler. Now, what was that you were saying about banks? Shall we continue? If you want to now suggest - based upon your own initial argument - to me that GM and Chrysler themselves were primarily responsible for their own demise and ultimate bankruptcy I would wholeheartedly agree......or now do you have a new and different claim?
Turning out a shitty product and workers getting paid $40-50 per hour for sleeping on the job and drinking and drugging in the parking lot had nothing to do with it, right?
Yeah....every damned last one of em....man or woman did exactly that.....yeah....eff em all.....they were all worthless human beings. Jes like every Dem is a no good lazy bum wantin a handout.....heck fire yes.....you nailed it.
No not every one of them. But all it takes is 5% of a plant to turn out thousands of crap that destroys the reputation of a product manufacturer. And if you know people that were in the plants in the 60's and 70's you've heard the horror stories of how SOME union protected workers turned out ****. Why post the absurd to hide the problem?
Don't press me on this Dave. I grew up in Dayton Ohio surrounded by a multitude of GM plants, NCR etc. My dad worked for two of them and was a union steward. I know a lot about this subject through him, friends who worked there etc. I know at least as much about midwestern factories and auto plants as you. A chain is as strong as its weakest link. Those plants had lots of weak links. And you know I'm right. You couldn't get fired from a UAW job if they found you over a bullet riddled corpse holding a smoking gun.
That statement I can agree with. But I can't agree with generalizations that cancel out millions of hard working Americans who didn't fit in that category but rather were more victims of that behavior and of other outside influences like the credit meltdown. The fire was burning out of control and the credit crunch threw gasoline on it. Thing is though......high wages and benefits used to be the American manufacturing legacy and people can't be faulted for wanting it any more than BT can be faulted or you can be faulted for wanting to make a good living from a successful business. It's the path chosen when presented with opportunities. The hard workers weren't bad people for choosing that path they just got caught by the world economy and downward pressure of acceptable operating expenses created by things like outsourcing and foreign competition etc.