Corporate profits hit record high; still no hiring
“The nation’s workers may be struggling, but American companies just had their best quarter ever.
American businesses earned profits at an annual rate of $1.66 trillion in the third quarter, according to a Commerce Department report released Tuesday. That is the highest figure recorded since the government began keeping track over 60 years ago, at least in nominal or non-inflation-adjusted terms.
Corporate profits have been going gangbusters for a while. Since their cyclical low in the fourth quarter of 2008, profits have grown for seven consecutive quarters, at some of the fastest rates in history.”
I know what you’re thinking: You want to see a chart.
OK, here.
I still know what you’re thinking: If only President Obama and the Democrats weren’t so darned anti-business. If only corporate America was making enough money to pump back into the economy. If only we could free up business and make it possible to earn a profit again.
If only ….
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526 comments Add your comment
Granny Godzilla
November 23rd, 2010
2:44 pm
md
“Awful lot of assumptions in there too………….”
Yep you started making them.
Remember ….@ 2:16
“Without TARP, etc., we would have had a full-blown Wall Street meltdown and THEN you would have seen some uncertainty.”
Pure assumption, as there is no way to ever know……………….”
Lil' Barry Bailout
November 23rd, 2010
2:44 pm
If it’s only 2-3% why bother with the increase?
Mary Elizabeth
November 23rd, 2010
2:44 pm
http://www.speaker.gov/issues?id=0002 (Regarding job creation)
Some People are stupid
November 23rd, 2010
2:44 pm
Supply side won’t fix it.
Exactly!!! This is a demand side problem. Tax cuts don’t affect demand.
Jay
November 23rd, 2010
2:44 pm
Lord Help Us, just to clarify further, that would be an increase of 2-3 percentage points on the profit ABOVE $250,000.
So someone reporting a take-home, after-deductions adjusted gross income of $300,000 would be paying all of $1,500 more.
How would they ever feed their children?
Some People are stupid
November 23rd, 2010
2:45 pm
Lil Barry-
If it’s only 2-3% why bother with the increase?
Ask the congress who put a 10 year shelf life on it.
jewcowboy
November 23rd, 2010
2:45 pm
Hillbilly Deluxe,
I’m quite certain I didn’t
md
November 23rd, 2010
2:46 pm
You side choosers are really kidding yourselves………….the perception of either party implementing their mandate/agenda creates a huge amount of uncertainty by those that do not share the ideology. How can one say it doesn’t??
joe
November 23rd, 2010
2:46 pm
The reason? Corporations don’t know what tax bracket they’ll be in under Barry, so they are in a holding pattern until 2012 elections. Hiring will be on the low side until then. If a GOP wins in 2012, hiring will return to normal levels in first quarter 2013.
Lord Help Us
November 23rd, 2010
2:46 pm
Lbb, ‘If it’s only 2-3% why bother with the increase?’
Because deficits really do matter…
marky mark
November 23rd, 2010
2:46 pm
and Matti, regarding that “Uncertainty thing”…here is an article from our very own AJC….
“It’s a reflection of exactly what’s going on in the economy. Share buyback activity does offer a real-time glimpse as to whether the recovery in 2009 will turn into a durable expansion,” said Adrian Cronje, partner and chief investment officer at Balentine.
“It is a worrying sign that corporate treasurers are choosing to buy back stock rather than using cash to hire, or invest in new projects. We’re not suffering from a shortage of cash, we’re suffering from a shortage of confidence.”
They aren’t investing in new projects because of the massive health care and financial regulation legislation enacted this year in Washington, as well as the uncertainty about what corporate tax rates will be next year, he and other analysts said.”
AJC Business Section – September 9, 2010
“More companies buying back shares or looking to acquisitions rather than hiring”, story by Peralte C Paul
Andy
November 23rd, 2010
2:47 pm
We don’t hire if you are unemployed, we don’t hire if you don’t have the exact skill set we need, we don’t hire if you have no work related experience, we don’t hire if you are just out of school, we don’t hire if are too old, we don’t hire if you are a single mom, we don’t hire if you are overqualified, we don’t hire if you want too much money, we don’t hire if your resume doesn’t say the perfect words, we don’t hire if….
And who does that leave to be hired?
Some People are stupid
November 23rd, 2010
2:47 pm
Joe-
UHmm, don’t corporations pay one rate…didn’t think there were brackets for corporate rates.
dave
November 23rd, 2010
2:48 pm
Del – you’re right on, but most of these folks will never understand because they don’t have a payrole to make. When I know that I can afford to expand (if that ever happens) I will, but not until.
Gordon
November 23rd, 2010
2:48 pm
“But what are taxes increasing going to do?
Help lower the deficit”
LOL.
In theory, yes. In practice, no. Let the government show it can restrain itself and THEN let’s talk about raising taxes. Charlie Brown is tired of having the football snatched away.
Del
November 23rd, 2010
2:48 pm
some people are stupid, you said ‘if” the tax cuts are allowed to expire and that your business and personal taxes are linked at the hip. So I take it that you’re not certain what you tax liability will be next year.
md
November 23rd, 2010
2:48 pm
“so you too are making pure assumptions
why would your assumptions be better, more accurate, that most any
economist on the planet?”
I’m not making any assumptions what so ever………merely pointing out that everything but the current outcome is an assumption, for it is the only course of events taken…………
Lil' Barry Bailout
November 23rd, 2010
2:50 pm
Or we can ask the Democrats who want to raise our taxes on Jan 1.
Get Real
November 23rd, 2010
2:51 pm
If you know what we are thinking why waste our time with your article?
jewcowboy
November 23rd, 2010
2:52 pm
“Uncertainty will always be part of the taking charge process.” ~ Harold S. Geneen, former CEO of ITT
It seems some CEO’s don’t mind uncertainty…besides I thought that was capitalism…the increase of profit is directly proportional to the increase in risk.
Unless you are talking about a stacked deck…naw…
md
November 23rd, 2010
2:53 pm
Well Granny, take a look at these 2 statements, and see if you can figure out the difference:
“Without TARP, etc., we would have had a full-blown Wall Street meltdown”
“Without TARP, etc., we may have had a full-blown Wall Street meltdown
marky mark
November 23rd, 2010
2:53 pm
and jay, that article is from your very own business writer….and Amvet, you can no longer claim that you have not seen any documentation that this feeling is invasive in financial circles (and yes I know, I am paraphrasing)….or you guys can just ignore the article and move on…..
Del
November 23rd, 2010
2:54 pm
dave, of course that’s basic business economics 101. Obama and 95% of his administration have had zero experience in private sector business but some on here will continue to suck up the propaganda and fool each other that he’s doing a great job, believing that it’s those horrible business people hoarding all of their money.
Adam
November 23rd, 2010
2:55 pm
But what are taxes increasing going to do? I don’t know but since we haven’t tried them in 10 years. Umh since we had a surplus, why don’t give it a try.
Ugh, terrible rationale. It’s the same rationale as voting GOP because the Democrats didn’t wave a magic wand these past two years. While I agree with letting the cuts expire (read – not the same as INCREASING TAXES OMG), I do not agree with using this kind of argument for it. The rich dont’ need those cuts, and there are many millionaires eager to do their part to help support defecit reduction. They know a healthy government is less likely to want to intrude on business, and a happy government is more likely to be a business’ friend.
Uncertainty is merely a catch-all excuse for blaming Obama offered by people who can’t think up actual things he might have done to cause all this damage.
Zing! It’s basically the message meant to counter “hope and change.” As if all that campaign was about was a catch phrase.
Pure assumption, as there is no way to ever know………
It’s still a much better policy than “LET THEM DIE!” spouted by those who didn’t want to see any sort of bailout at all.
I provide health insurance for all my employees regardless, because if I want the best I have to provide the best.
I applaud you. Keep fighting the good fight there! This is the way business SHOULD be.
Yes, a successful small business owner making a PROFIT (not revenue, pat) of over $250k could see a tax increase of 2-3 per cent. The horror…the horror…
Well said. Quoted for truth.
LBB: Spas, I don’t know but I’m sure Obozo will take the credit when jobs inevitably start to come back.
So will the GOP, only louder, for longer, and on as many GOP controlled networks as possible. Regardless of whether or not anything changed in congress to help or hurt.
joe: If a GOP wins in 2012, hiring will return to normal levels in first quarter 2013.
Hahaha right. So first it was if they win in 2010 things will get massively better, now it’s 2012? And if the GOP fails to take over EVERYTHING will it be 2014? 2016? What if they win and things still don’t change. You’re just spouting nonsense.
We don’t hire if you are unemployed, we don’t hire if you don’t have the exact skill set we need, we don’t hire if you have no work related experience, we don’t hire if you are just out of school, we don’t hire if are too old, we don’t hire if you are a single mom, we don’t hire if you are overqualified, we don’t hire if you want too much money, we don’t hire if your resume doesn’t say the perfect words, we don’t hire if….
And who does that leave to be hired?
Well said!
LBB:Or we can ask the Democrats who want to raise our taxes on Jan 1.
I didn’t realize you were so rich Barry!
md
November 23rd, 2010
2:55 pm
“UHmm, don’t corporations pay one rate…didn’t think there were brackets for corporate rates.”
No, and there are…………
Adam
November 23rd, 2010
2:56 pm
Del: Obama and 95% of his administration have had zero experience in private sector business
Oh, you Beck parrot. This is FALSE:
http://politifact.com/truth-o-meter/statements/2009/dec/02/glenn-beck/beck-says-less-10-percent-obama-cabinet-members-ha/
Some People are stupid
November 23rd, 2010
2:56 pm
Del-
As of this moment yes. I can look at my P&L and calculate my tax liability. Then I can also deduct out my quarterly payments and tell you if I am gonna owe more or get a refund. If they expire, I can do the same thing. That doesn’t hinder my ability to hire. What does hinder my ability to hire is demand.
Dave-
So if I came to you and offered you 6 million dollars worth of business, could you afford to expand?
Lil Barry-
So it’s the democrats fault, even though Republicans had control of congress for 6 out of 10 years. When under a republican controlled congress and presidency, they set them to expire in 10 years. So when an intro rate on your credit card expires, i take it you are one of the people who say the credit card company raised my interest rate.
Granny Godzilla
November 23rd, 2010
2:56 pm
md
deny all you wish…you too are making pure assumptions.
good for dining table conversation
Adam
November 23rd, 2010
2:57 pm
Top Ten Bush Tax Cut Falsehoods. ALL GOP talking points, all FALSE!
http://www.politifact.com/truth-o-meter/article/2010/nov/23/top-5-falsehoods-about-bush-tax-cuts/
AmVet
November 23rd, 2010
2:58 pm
I think Randalph was right.
To fix this mess, what we need is another good old fashioned Christian Crusade!
This time against those godless commies in North Korea!
Hey brother! Can you spare a dime for Raytheon?
Steve
November 23rd, 2010
2:58 pm
You can talk about “Corporate Profits” all you want, but out here in the real world of small business, where the majority of American’s are (or were) employed, I assure you there have been no profits in many, many quarters. We’re still cutting back in order to survive and were sitting on equipment that has little or no value in this economy. And I can see no light at the end of the tunnel either.
Granny Godzilla
November 23rd, 2010
2:59 pm
Thanks for the link Adam.
PeaDawg
November 23rd, 2010
2:59 pm
“But what are taxes increasing going to do?
Help lower the deficit”
Nope. Cutting spending will help lower the deficit. Tax revenue isn’t the problem.
Some People are stupid
November 23rd, 2010
2:59 pm
md-
I’m an idiot…
jewcowboy
November 23rd, 2010
2:59 pm
Del,
“Obama and 95% of his administration have had zero experience in private sector business”
You really should fact check before you make these kinds of statements…
“some on here will continue to suck up the propaganda ”
Oh the irony…
md
November 23rd, 2010
3:00 pm
“It’s still a much better policy than “LET THEM DIE!” spouted by those who didn’t want to see any sort of bailout at all.”
And once again, we will never know……..will we??
Companies die every day……….have been for years……..we gone yet??
les
November 23rd, 2010
3:01 pm
Everyone knows companies are not gonna hire people until President Obama is defeated next election..This is part of the plan to not let the President be successful.
JohnnyReb
November 23rd, 2010
3:01 pm
Some People are Stupid@2:43 – we own an S-Corp and there is no reporting. Perhaps S-Corps with higher cash flow may have to report, but we don’t. And, we are in the much hated group that should pay higher taxes. I stand my my post, the chart and the Feds miss a very big piece of the pie.
Some People are stupid
November 23rd, 2010
3:03 pm
marky mark-
The article was referring to uncertainty of corporate tax rates.
As to this day, I have yet to hear anybody in the administration talk of raising them.
Jimmy62
November 23rd, 2010
3:04 pm
You just don’t get it. Have you ever run a business? It’s based on the expected future. And it’s really, really hard to plan when the government changes things on you every five minutes. They don’t know what their taxes will be, they don’t know how much health care will cost (8 months later, and still no one is sure what’s in the health care bill and how it’s going to affect people, the only thing they do know is that it’s not working how they were told it was going to work… big surprise).
So whether they are making tons of money or no money, they aren’t going to hire until the government shows some stability and assurance that they won’t suddenly change up how people have to business again.
Some People are stupid
November 23rd, 2010
3:05 pm
Johnny Reb-
Do you not fill out an 1120S? Do you not get a K-1?
If you don’t, you probably shouldn’t tell anyone.
md
November 23rd, 2010
3:06 pm
“Pure assumption, as there is no way to ever know……………….”
Sorry Granny….unless one has a crystal ball, that statement is pure fact…………
Del
November 23rd, 2010
3:06 pm
Adam, first of all J.A. I don’t watch Beck so you’re ASS suming. Secondly it’s a hard fact that the Obama administration has the fewest number of cabinet members with actual real world non-academic business experience.
JohnnyReb
November 23rd, 2010
3:06 pm
Some People are Stupid@3:05 – No, No, and I won’t. But, my guess is there are millions like us.
Del
November 23rd, 2010
3:09 pm
Jew cowboy, name his cabinet members and provide their credentials starting with Obama.
Granny Godzilla
November 23rd, 2010
3:10 pm
md
of course it is
no need to be sorry, you are still making assumptions –
we all do
TaxPayer
November 23rd, 2010
3:10 pm
Well, maybe if some of the stocks on my watch list drop another 4 or 5 percent, I might be willing to invest in them but for the most part, they’re way too pricey. I did go ahead and bite the bullet and buy a few shares of CSCO though. I just couldn’t resist gambling a little. A lot of these companies probably just need a good tax cut like Ireland gave them and then maybe they could be coaxed into moving back here and hiring a few folks to man their corporate offices. We could offer 11.5% corporate tax versus Ireland’s 12.5% and get into a bidding war for business. Of course, they would likely continue to do their manufacturing overseas in places like China and India and Pakistan and such where labor costs are at a level where 20+% YOY returns can still be realized. That’s just business and they know that in order to get my investment dollars, that’s what they have to do.
Adam
November 23rd, 2010
3:10 pm
Jimmy62: You just don’t get it. Have you ever run a business?
Have you? You keep referring to businesses as “they” so I have to figure you must not know from personal experience. I, however, do. And you’re wrong. Not everyon has irrational reaction to fear-mongering. It would be hard to run a small business if I was worried about every possible government thing that MIGHT be done to me LATER.
Del – I don’t watch Beck so you’re ASS suming. Secondly it’s a hard fact that the Obama administration has the fewest number of cabinet members with actual real world non-academic business experience.
The quote comes directly from Glenn Beck, so wherever you heard it, that’s its original source. And it is false regardless. Can you provide proof that your assertion is correct? because I just provided proof that you’re wrong, above.
jewcowboy
November 23rd, 2010
3:10 pm
Del,
“non-academic business experience.”
How did that “non-academic business experience” work for Arbusto Energy or Spectrum 7 or Harken Energy, b/c it did wonders for national economy.
Some People are stupid
November 23rd, 2010
3:11 pm
JohnnyReb-
No problem…
That’s probably gonna come back and bite ya if yuo get audited but besides that..did you turn a profit this year?
Adam
November 23rd, 2010
3:11 pm
Del – Name cabinet members and provide their credentials? Look here, and actually READ it this time: http://politifact.com/truth-o-meter/statements/2009/dec/02/glenn-beck/beck-says-less-10-percent-obama-cabinet-members-ha/
Del
November 23rd, 2010
3:13 pm
Adam, no you didn’t. I’ll suggest that in order to prove your point do what I asked of Jew cowboy at 3:09.
md
November 23rd, 2010
3:14 pm
Jay…..can you tell me, as a company, how much expense cap and trade would add to my bottom line??
How much expense did the finance reform bill add to the bottom line????
How about the credit card bill……….I know my rates went through the roof, and I have excellent credit.
Adam
November 23rd, 2010
3:15 pm
Del – READ it. READ. It’s NOT HARD!
jewcowboy
November 23rd, 2010
3:15 pm
Del,
“name his cabinet members and provide their credentials starting with Obama.”
That would be in Adam’s 2.56 link. But better yet, why don’t you back your statement with facts since it was your assertion that, “Obama and 95% of his administration have had zero experience in private sector business .”
md
November 23rd, 2010
3:16 pm
Granny…can I borrow your crystal ball for this weeks lottery??
jewcowboy
November 23rd, 2010
3:16 pm
Adam,
“READ it. READ. It’s NOT HARD!”
It is if Del doesn’t wish to admit that he is wrong.
oh boy
November 23rd, 2010
3:16 pm
so stop blaming “the government!”
Me Again
November 23rd, 2010
3:16 pm
And let me guess, JB, you propose that the governemnt step in and force these businesses to invest THEIR profits in human capital by rehiring everyone.
marky mark
November 23rd, 2010
3:16 pm
Some People – sorry, I don’t see that…that article is referring to why companies are not hiring. In this one business example, they were doing stock repurchases, etc. instead. But the salient point was the reasoning they were NOT hiring. And where this conversation started, is with hiring.
“We’re not suffering from a shortage of cash, we’re suffering from a shortage of confidence.”
They aren’t investing in new projects because of the massive health care and financial regulation legislation enacted this year in Washington, as well as the uncertainty about what corporate tax rates will be next year, he and other analysts said.”
I dont know how the AJC’s own business writer could have reflected this feeling any clearer.
why is the trickle down yellow?
November 23rd, 2010
3:17 pm
Hillbilly Deluxe@2:40 pm
…..it still takes customers willing to spend, and the numbers don’t appear to indicate folks have enough in their wallets yet…………
In my opinion, you’re seeing a long-term shift, much like what took place in the 30’s. A lot of folks, for the first time in their lives, have had an epiphany. They’ve realized that they don’t need a lot of the stuff, that they thought they did. And many are beginning to realize that toys are for kids, not adults. I don’t think spending will get back to the previous levels, until this generation dies off, and the lessons are forgotten, just like the lessons of the 30’s were forgotten.
——————————————–
I agree totally. As a child of depression era parents we don’t buy what as adults we don’t need. The same can’t be said for some of the 2 offs (2 away from the depression).
Some people will buy only new products or cheap products without a care to where they are made. THESE PEOPLE are the ones causing the corporations to not G.A.S. about sending jobs elsewhere.
Oh yeah and every time you buy a Microsoft product you reinforce the jobs losses to India
Del
November 23rd, 2010
3:18 pm
Adam, I said real world, not embellishments from a left leaning news organization.
JohnnyReb
November 23rd, 2010
3:18 pm
Some People are Stupid – our main company income is commission and will show a profit. A wholly owned LLC, which is a retail shop, will be lucky to break even. Because profits roll into our personal return, I am concerned of next year if the tax cuts are not extended. I know we are lucky compared to most to have that kind of income, but we work very hard for it.
jconservative
November 23rd, 2010
3:19 pm
Tax cuts will help the deficit IF those receiving the tax cuts invest in domestic job creating businesses. There is NO evidence that this has taken place since Reagan invented “trickle down” in 1981.
What has happened is that those receiving the tax breaks invested in overseas jobs by moving production overseas. That is why Net Job Creation in the US has fallen from an average of 30% in the 1940’s through the 1970’s, down to 20% in the 1980’s and 1990’s and down to 0% in the 2000’s. Zero percent job creation while the Bush tax cuts were in place.
All of you have heard Bill Clinton brag that he created over 20 million jobs in his administration. What he does not brag about is the 16 million jobs lost. He had a net job creation of 20%.
And now we are down to zero percent job creation and everyone is talking about doing what we have done for the last 30 years.
Someone remind me what Einstein said about “insanity”.
Economic policies that are based on predicting human behavior always fail. Psychologist cannot predict human behavior, which means economists do not have a remote chance of doing so.
jewcowboy
November 23rd, 2010
3:20 pm
“I said real world, not embellishments from a left leaning news organization.”
Poor Del…that’s the best he has. Lame.
Adam
November 23rd, 2010
3:23 pm
After reading Del’s last comment, you are correct jewcowboy. He just doesn’t want to admit he’s wrong.
Politifact is not a news organization. It’s a fact checker, and has checked facts to be false for many people on BOTH sides of the spectrum. It’s not their fault if most of what one particular conservative pundit says is FALSE. That’s on him.
Tychus Findlay
November 23rd, 2010
3:23 pm
The job I do at my current company equates to the job that was done by 4 people at my previous employer. Though the work isn’t substantially greater, the employer’s return is by cutting its overhead comparatively by 75%. Interestingly enough, my current employer is growing and hiring while my previous employer was downsizing and now in the process of being acquired.
Scout
November 23rd, 2010
3:24 pm
……… and they will continue to do the minimum necessary until Obama is gone.
Adam
November 23rd, 2010
3:25 pm
Tychus: love your name. I am curious who you work for. I had intended to make a Marine costume for Halloween but couldn’t get the funds together
jewcowboy
November 23rd, 2010
3:26 pm
Adam,
To Del’s credit…he may not have received his talking points from Beck…it may have been Limbaugh:
http://mediamatters.org/research/200912030015
Adam
November 23rd, 2010
3:27 pm
I’m sure he’s going to LOVE that you linked to mediamatters. lol
larry
November 23rd, 2010
3:29 pm
Beck, Limbaugh, one in the same.
Michelle Mal's Kin
November 23rd, 2010
3:30 pm
Sigh……here we go again……it’s ALLL Obama’s fault!! If it rains tomorrow instead of the sun shining then it’s Obama’s fault. Don’t you people know any new songs?
Del
November 23rd, 2010
3:31 pm
jewcowboy, if you really can’t cogent an argument, I guess you feel the next best thing is to toss out a personal hit through the safety of cyberspace. Sorry but I don’t watch Glen Beck anymore than I would be inclined to accept left wing embellishments as accurate.
Jay
November 23rd, 2010
3:32 pm
md, cap and trade is dead. If you’re using that to justify claims of “uncertainty,” you’d be better off talking leprechauns and unicorns. As to the finance reform bill, it added nothing to anybody’s bottom line except those on Wall Street, and since they’re paying each other record bonuses just two short years after almost bringing all of Western civilization down around our ears, they seem to be managing that awful burden quite well, thank you.
and no, me again, I’m not proposing “that the goverment step in and force these businesses to invest THEIR profits in human capital by rehiring everyone.” Your imagination is getting the best of you.
Adam
November 23rd, 2010
3:33 pm
Del – jewcowboy, if you really can’t cogent an argument, I guess you feel the next best thing is to toss out a personal hit through the safety of cyberspace.
I would say you missed the fact that he DID come up with a solid argument, but then I read the next part: Sorry but I don’t watch Glen Beck anymore than I would be inclined to accept left wing embellishments as accurate.
And that’s the problem. You see facts as “left wing embellishments.” There can be no rational argument with someone who doesn’t agree on what a fact really is, and think the “real world” is free of these “embellishments.” Is the sky blue in your world?
Lil' Barry Bailout
November 23rd, 2010
3:33 pm
So when an intro rate on your credit card expires
——–
There’s your sign. Intro rates are for losers. I don’t even know what my rate is because I don’t pay it. Credit card balances are also for losers.
Scout
November 23rd, 2010
3:35 pm
Seriously, the above chart is not showing up very well on my computer. Is “capital” in the first line spelled wrong ?
Moderate Line
November 23rd, 2010
3:36 pm
still know what you’re thinking: If only President Obama and the Democrats weren’t so darned anti-business. If only corporate America was making enough money to pump back into the economy. If only we could free up business and make it possible to earn a profit again.
++++
Does that make the unemployed feel better. No. I am not sure of the point other than to show that big business benefit from Obama presidency and so far the unemployed do not.
Southern Comfort
November 23rd, 2010
3:36 pm
marky mark
I’ve been with the federal gov’t for almost 6 yrs, and the benefits do not automatically start from day 1. The fact that he asked to do something that would have been covered under the public option that he detested so much is funny to me. I haven’t had one job that said I was covered from day one as far as insurance coverage. I guess I’ve had the wrong jobs or something.
stands for decibels
November 23rd, 2010
3:37 pm
……… and they will continue to do the minimum necessary until Obama is gone.
We had to destroy the country in order to save it.
Del
November 23rd, 2010
3:38 pm
Adam, I know the St. Petersburg Times is a right wing publication and that article wasn’t really intended to dis-credit Glen Beck only to prove him wrong by describing a background in banking, a laboratory manger and private sector lawyers as solid depth in private sector business acumen. Yeah really.
jewcowboy
November 23rd, 2010
3:38 pm
Del,
“if you really can’t cogent an argument, I guess you feel the next best thing is to toss out a personal hit through the safety of cyberspace.”
Um…Del…there is a link with the information…you made the original assertion yet don’t seem to be able to back it up with fact. Defend your assertion or admit you were wrong. It is that simple.
p.s. Cogent is an adjective, not a verb.
JohnnyReb
November 23rd, 2010
3:38 pm
Fox News is reporting the administration has issued a directive to Insurance Companies on how they are to spend their money. If true, it raises the stakes on the Constitutionality of Obamacare.
jewcowboy
November 23rd, 2010
3:40 pm
Adam,
“Is the sky blue in your world?”
It’s a rather angry gray in mine at this moment.
jewcowboy
November 23rd, 2010
3:41 pm
Southern Comfort,
“I haven’t had one job that said I was covered from day one as far as insurance coverage.”
I have…but not my pre-existing conditions.
TaxPayer
November 23rd, 2010
3:42 pm
Tax cuts mean more of my profits stay in my pockets. They have no bearing on hiring people here in the states because they simply are not a significant part of the overall business expenses.
Bye Bye Empire
November 23rd, 2010
3:42 pm
Jay: “Uncertainty is merely a catch-all excuse for blaming Obama offered by people who can’t think up actual things he might have done to cause all this damage.”
But just playing devil’s advocate here for a moment, maybe the know-nothings have a point here.
If we accept for a moment – as I believe we must – that capitalism has entered one of its gravest crises, then it follows that a critical moment in this ‘flex point’ will hinge on what sort of reaction Western governments take towards this crisis. Which means: how will they respond to the crisis of
market fundamentalism (known as neoliberalism) that has largely driven government economic policy over the past three decades and results of which, it can no no longer be denied, have been utterly disastrous. This is why in response a policy of absolute obfuscation is the only possible one – right up to and including tarring and feathering the leader – Obama – who has perhaps done more to save capitalism from itself than any in history. This is, in a nutshell, the dynamic that we’re seeing, with guerrilla skirmishes breaking out in every quarter, from health insurance to immigration to Fed policy and beyond.
Adam
November 23rd, 2010
3:43 pm
Del – To make a claim that Obama’s cabinet is 95% no private sector experience, and then (after proven wrong) modify that to say that somehow the private sector experience that was listed in the article I linked is not private sector experience…. is lunacy.
Chris D.
November 23rd, 2010
3:43 pm
I agree with Del….Busioness are cutting expenses and labor to get more “lean” and profitable…Sure wish Obama had had any type of business experience, so he would understand this and follow the business model and cut the Fed gov down to size
Normal
November 23rd, 2010
3:43 pm
larry
November 23rd, 2010
3:29 pm
Beck, Limbaugh, one in the same.
You may be right. You never see them in public together…
Scout
November 23rd, 2010
3:44 pm
Del:
Don’t you just love those North Korean officer covers (hats to you civilians) ?
They remind me of Lord Dark Helmet (Rick Moranis) in “Spaceballs”.
idaslaptor
November 23rd, 2010
3:44 pm
Well, that chart shows nothing. The conglomerates have been stagnate on hiring since the 70’s – it used to be the small businesses that hire 80% of Americans.
Hillbilly Deluxe
November 23rd, 2010
3:45 pm
http://www.reuters.com/article/idUSTRE6AL4DT20101122
jewcowboy
November 23rd, 2010
3:46 pm
larry/Normal,
“Beck, Limbaugh, one in the same.” / “You never see them in public together… ”
Did you ever see the Family Guy episode where Limbaugh and Michael Moore were the same person…Fred Savage from the Wonder Years.
Adam
November 23rd, 2010
3:46 pm
jewcowboy: I think about that any time Michael Moore is mentioned.
TnGelding
November 23rd, 2010
3:46 pm
It’s using the GOP sniping and media support to bask in its success.
TaxPayer
November 23rd, 2010
3:47 pm
Credit card balances are also for losers
Duhh! That’s what card issuers count on for their profits — losers, that is.
Scout
November 23rd, 2010
3:47 pm
stands for decibels:
Yes, it will get pretty ugly in order to save our future. Whatever it takes to ensure he doesn’t get elected to a second term.
barking frog
November 23rd, 2010
3:47 pm
Corporations will not hire until demand for their products
increases. No ceo says well look how much profit we’re
making, let’s go hire some new people to pay it to. The
public must spend on buying products to stimulate hiring.
The large loss of home equity and 401K depletion has
caused the average consumer to decide to sit back and
pay down debt. Banks are soliciting credit card spending,
Mortgage money is available if you have good credit but
the public waits. Obama is using the ‘bully pulpit’ to no
avail. It will get better but not for awhile and it has nothing
to do with politics or taxes. It is ‘once burned, twice shy’.