Newly revised economic data encourages, discourages

Two significantly revised economic statistics are out, which the two presidential campaigns will no doubt attempt to spin to their candidates’ advantage. But the net political effect is likely to be minimal.

First, the bad news. Economic growth in the second quarter, originally estimated at an anemic 1.7 percent of GDP, was actually an even more anemic 1.3 percent, the Commerce Department announced. As Reuters notes, that downward revision reflects a better understanding of the impact of “the worst drought in half a century, which gripped large parts of the country in the summer (and) saw farm inventories dropping $5.3 billion in the second quarter.”

(In that same announcement, the WSJ’s MarketWatch notes, “the government said corporate profits climbed $21.8 billion in the second quarter, compared to a prior estimate of a $10.4 million increase.”)

The better news comes out of the Bureau of Labor Statistics, which released its regularly scheduled revision of job creation numbers. According to the BLS, the economy created 453,000 more private-sector jobs than reported in the April 2011-March 2012 period. It also lost 67,000 more government jobs that reported, producing a net unreported job growth of 386,000 over previous estimates.

That’s an average of an unreported 30,000 jobs a month over that 12-month period. In political terms, the Obama campaign can now claim that more Americans are working today than when the president took office.

But again, this is hardly earth-shaking news, and combined with the GDP revision, it suggests that this long, hard slog to a better economy is likely to continue a while.

– Jay Bookman

276 comments Add your comment

Fly-On-The-Wall

September 27th, 2012
12:13 pm

The drought – Obama caused it! There let me get that out of the way.

DebbieDoRight - You Show Me A Capitalist & I'll Show You A Bloodsucker...

September 27th, 2012
12:15 pm

Oh well, at least in the grand scheme of things, Obama’s left leaning media proletariat are winning the “We the People” with their dazzling spinning and lying about Obama’s birth place (Kenya).

On the other hand, Romney, that paragon of virtue, is winning the “We the Dumb, Stubborn, Git Yor Hands Off My MEDICARE!!, This Guns-a-smoking People” with his dazzling spinning and lying about Obama’s numbers, HIS numbers, His view of the 47%, his assertion that it was HIS idea to save the auto industry, and on and on and on.

At least we still have Honey BooBoo, Bubba, Cletus, and Ernest P.; to show us the way.

CJ

September 27th, 2012
12:16 pm

According to the BLS, the economy created 453,000 more private-sector jobs than reported in the April 2011-March 2012 period. It also lost 67,000 more government jobs that reported, producing a net unreported job growth of 386,000 over previous estimates.

The loss of government jobs over the course of our recovery, primarily at the state and local levels, is the real story behind the drag on our recover–

“Putting our four components together—the jobs lost in the public sector, the jobs the public sector should have gained just to keep up with population growth, the jobs lost in the private sector due to direct public-sector job declines, and the jobs likely lost when state spending cutbacks on transfer programs were made—we find that if it weren’t for state and local austerity, the labor market would have 2.3 million more jobs today; half of these jobs would be in the private sector.

This is more than one-fifth of our 9.8 million “jobs gap,” the number of jobs needed to bring the economy back to full employment. If all of these 2.3 million jobs had been filled, it is likely that the unemployment rate would now be between 6.7 percent and 7.5 percent instead of 8.2 percent, and the labor force participation rate (which has dropped dramatically in recent years due to weak job opportunities) would be up to three-tenths of a percentage point higher than it is.”

http://www.epi.org/blog/years-recovery-state-local-austerity-hurt/

stands for decibels

September 27th, 2012
12:16 pm

the Obama campaign can now claim that more Americans are working today than when the president took office.

and it’d constitute political malpractice if he didn’t, I think.

Fly-On-The-Wall

September 27th, 2012
12:16 pm

Jay,

You are correct, these numbers are minor variations in the overall trend. But I’m sure we’re going to hear the wailing and gnashing of teeth from the Right on this. It only shows that if Congress would have gotten off its backside over the last two years and really did do something about jobs (instead of abortion) then things might be incrementally better. But I forget that we can’t have cooperation from a Republican House. //snarc//

Kamchak ~ Thug from the Steppes

September 27th, 2012
12:17 pm

(In that same announcement, the WSJ’s MarketWatch notes, “the government said corporate profits climbed $21.8 billion in the second quarter, compared to a prior estimate of a $10.4 million increase.”)

But…but…but…UNCERTAINTY, OBAMACARE, UNCERTAINTY, UNIONS, UNCERTAINTY.

Stevie Ray..Clowns to the left and Jokers to the right..here I am...

September 27th, 2012
12:17 pm

JAY,

Couldn’t agree more..do you think the WH can really do much beyond spending more of our cash (with dismal results)? I just don’t see anyone reversing these trends except time….many are suggesting if trends since great depression continue, it will take at least 10 years for any meaningful job recovery…we can’t make corporations spend more of profits without generating a return..

stands for decibels

September 27th, 2012
12:18 pm

We should be spending more, of course.

re-linking because more people should be annoyed and taken out of their stupid deficit-hawk comfort zones:

http://www.usatoday.com/news/opinion/forum/story/2012-09-25/ben-bernake-inflation-money/57840674/1

The Federal Reserve should give people free money. People would spend this money, increasing demand for goods and services, causing employers to hire additional workers to meet this increased demand and reducing unemployment in the economy overall.

This probably sounds like a crazy idea, but it isn’t. People are a bit uncomfortable with the notion that the Fed can simply create money, but that is what the Fed does. Currently, under a program dubbed “QEIII” (Quantitative Easing III), the Fed is creating money and, instead of simply giving it to people, is using that money to purchase mortgage backed securities in order keep mortgage rates low and increase the supply of money in the economy. This also boosts the prices of these financial assets, providing a windfall to those who own them.

getalife

September 27th, 2012
12:19 pm

“the government said corporate profits climbed $21.8 billion in the second quarter, compared to a prior estimate of a $10.4 million increase.” WSJ

We need more corporate welfare right cons?

Stevie Ray..Clowns to the left and Jokers to the right..here I am...

September 27th, 2012
12:20 pm

KAMCHAK,

For better or worse and often legitimately, the unknown’s you mentioned via government design and also due to global economy, are what keeps them from spending this money….no strong case can be made for any of them to spend in light of the risks exceeding possible returns..

CJ

September 27th, 2012
12:20 pm

getalife

September 27th, 2012
12:21 pm

Is that 21.8 billion or million Jay?

stands for decibels

September 27th, 2012
12:21 pm

Unemployment rate without state and local government cuts?

pshaw. What do those liberals at the Wall Street Journal know about business?

Stevie Ray..Clowns to the left and Jokers to the right..here I am...

September 27th, 2012
12:21 pm

GETALIFE,

Are you suggesting that businesses should spend more in hopes of creating US jobs or are you suggesting we tax them more??

DebbieDoRight - You Show Me A Capitalist & I'll Show You A Bloodsucker...

September 27th, 2012
12:22 pm

Why I Hate Obama – By Mitt Romney:

1. His first name is cool.

2. HE’s cool.

3. People LIKE him, me, not so much…….

4. He ate dog, and people still like him. I tied my dog to the roof of my car and the PETA people pelted me with Purina Dog Chow.

5. His wife knows bizarre words like, “On Sale” and “Bargain Bin”.

6. He actually went to school, (and finished), without Daddy writing him a check.

7. He stole my Romneycare idea and then, after he got the bill approved, made me have to pretend that I had nothing to do with the concept.

8. Bill Clinton.

9. His kids LIKE him.

10. He can say “You People” and “those people” don’t even care!

Aquagirl

September 27th, 2012
12:22 pm

Is that 21.8 billion or million Jay?

That’s what I thought too, but according to the article it’s 21.8 billion.

Stevie Ray..Clowns to the left and Jokers to the right..here I am...

September 27th, 2012
12:23 pm

STANDS,

Are you suggesting we print more money or am I misuderstanding you?

The money in circulation has risen from 800 billion to over 2 trillion in the last 8 years or so….this is not a good thing….

Kamchak ~ Thug from the Steppes

September 27th, 2012
12:24 pm

For better or worse and often legitimately, the unknown’s you mentioned via government design and also due to global economy, are what keeps them from spending this money….no strong case can be made for any of them to spend in light of the risks exceeding possible returns..

Rationalizing, not rational

Uncertainty is a fact of life, and it’s now being used as an excuse to hoard.

stands for decibels

September 27th, 2012
12:24 pm

“the government said corporate profits climbed $21.8 billion in the second quarter, compared to a prior estimate of a $10.4 million increase.”

that is a direct quote from the source, but I’m sure the latter figure should be in billions, yes?

Stevie Ray..Clowns to the left and Jokers to the right..here I am...

September 27th, 2012
12:25 pm

DDR,

If I understand you correctly by your moniker, you are against our current capitalist system?

Your post is funny…

Billybob

September 27th, 2012
12:25 pm

i hope obama runs on your post b/c that is a LOSING argument……good day

getalife

September 27th, 2012
12:25 pm

From 10.4 million profit to 21,8 billion profit?

You tell me Stevie Ray?

Can they afford higher taxes?

Do they need any welfare from anyone?

Welcome to the Occupation

September 27th, 2012
12:25 pm

If the Obama people keep running ads like this, Romney better hope his vote suppression efforts make a difference.

http://www.youtube.com/watch?v=B9xCCaseop4&feature=youtu.be

stands for decibels

September 27th, 2012
12:26 pm

Are you suggesting we print more money or am I misuderstanding you?

we’re already printing more money.

we are giving it to banksters. We should give it to human beings instead. You can pick the methodology–a one time Freedom Fries Paycheck to every adult citizen, or something less crass.

DebbieDoRight - You Show Me A Capitalist & I'll Show You A Bloodsucker...

September 27th, 2012
12:27 pm

Are you suggesting that businesses should spend more in hopes of creating US jobs or are you suggesting we tax them more??

Both. Without JOBS no one can afford to buy the crap the corporations put out. And a few more tax dollars from them wouldn’t hurt them. And before you make the argument of “They’ll take their businesses to another country!!!” — let them.

They need to move their rights of incorporation to someplace like China or India — then, after they do that, the Chineese and INdian governments can take them over and kick them out. “Outsourcing” so to speak — Works for me.

Mick

September 27th, 2012
12:27 pm

Dang mr. obama, after fours year of an almost worldwide depression, why don’t you have all this fixed already? C’mon man the dogs are howling at the gate to get back to where we once belonged, what gives???

Stevie Ray..Clowns to the left and Jokers to the right..here I am...

September 27th, 2012
12:30 pm

KAMCHAK,

The risks you suggest are way outside control by these corporations as opposed to being able to attach risk scores to traditional, non regulatory issues..If corporations think they will get taxed more heavily in the future, they likely need to maintain material capital to employ to offset the hit to earnings more government influences will cause..

Would you want a company you owned to create jobs that weren’t needed just for the sake of being a good corporate citizen? Most of them already give plenty to charity..

Aquagirl

September 27th, 2012
12:31 pm

but I’m sure the latter figure should be in billions, yes?

I guess I’ll throw myself on the grenade and go hunting at the Commerce Dept. website.

getalife

September 27th, 2012
12:31 pm

Stands,

I think the 10.4 should be billion too so they doubled profit with Qe3.

Unfortunately, since the gop refuse to help it is the last option for unemployment.

For principles

September 27th, 2012
12:31 pm

With appologies to Disraeli.

There are 3 kinds of lies – lies, damn lies, and government statistics.

Expect massive amounts of government lies the closer we get to the election. QE3 was all about getting Obama re-elected as well. This is how the ruling class manipulates our lives for their benefit. It doesn’t matter which party is in power, it is all the same, so please get over your delusion that there is actually a difference between the parties – THERE ISN”T.

DebbieDoRight - You Show Me A Capitalist & I'll Show You A Bloodsucker...

September 27th, 2012
12:31 pm

If I understand you correctly by your moniker, you are against our current capitalist system?

Not at all. I’m just merely stating a fact. Just by following the history of America we can see where the chase for the almighty dollar LEAD to all these things we have now. Things like the EPA, FDA, Anti-Trust laws, etc., etc., etc. Long live the dollar bill — the father of all inventions!

“The Only Thing Wrong With Capitalism Is Capitalists”………..Herbert Hoover.

Simple Truths

September 27th, 2012
12:32 pm

“Two significantly revised economic statistics are out, which the two presidential campaigns will no doubt attempt to spin to their candidates’ advantage.”

Any one want to take a flyer on how Jay will spin this?

Brosephus™

September 27th, 2012
12:34 pm

According to the BLS, the economy created 453,000 more private-sector jobs than reported in the April 2011-March 2012 period. It also lost 67,000 more government jobs that reported, producing a net unreported job growth of 386,000 over previous estimates.

Add the fact that more people are keeping more of their money as opposed to paying taxes, with 47% not paying any federal taxes, and you would think the GOP would be doing a victory dance. After all, the GOP crows about shrinking government and making sure people get to keep more of their own money.

Instead, they’ve demonized the economy so bad, that the GOP can’t step forward and take credit for the things that are happening which are textbook GOP rhetoric and policy. Funny thing is, achieving what the GOP has preached about gives us the idea of what their intended policies actually do in real life.

Stevie Ray..Clowns to the left and Jokers to the right..here I am...

September 27th, 2012
12:34 pm

STANDS,

We definitely need to stop printing money, if for nothing else the significant security risk it creates..

I do agree that had the bank bailout money gone directly to homeowners to maintain payments, that would have been a much better return for taxpayers relative to the debt we created..banks would have been able to improve balance sheet risk, more people could stay in homes etcetera..

Of course, our fine government thinks the cash those financial institutions will kick back to help re-election is more important than the $3.8 Trillion they collect every year to pay our bills..

ken

September 27th, 2012
12:36 pm

Most people that will vote for Obama do not have economic knowledge and could care less. But I’ll bet they watch the Super Bowl !!!

Billybob

September 27th, 2012
12:37 pm

welcome,
axelrod’s dishonest marketing to people who don’t know the difference seems to be ok with you……enlightening.
the percentage was wrong but the point was honesty that the media continues to manipulate and lie about like what happened with romney in europe and concerning libya…..first ambassador killed since carter and the media discusses what romney said and when he said it instead of holding obama accountable as the president and accountable for keeping our embassy people safe…..you know better, not that you will admit it

DebbieDoRight - You Show Me A Capitalist & I'll Show You A Bloodsucker...

September 27th, 2012
12:37 pm

Stevie Ray it was a GLOBAL problem (banks failing) not just a US problem. Banks have tentacles all over the world with some of the “heads” here in the US. It would not have been JUST about the US but about every world economy. That was the reason for the “bailout”.

stands for decibels

September 27th, 2012
12:39 pm

I do agree that had the bank bailout money gone directly to homeowners to maintain payments, that would have been a much better return for taxpayers relative to the debt we created..banks would have been able to improve balance sheet risk, more people could stay in homes etcetera..

Then you and I basically agree–you just don’t want more money literally printed? do I have that right?

I don’t care if it’s in Benjamins or electronic bank transfers. I assume when we say “print money” we don’t generally mean, you know, literally more greenbacks, although I guess there’s some of that too.

But yeah, for instance, HAMP…

http://en.wikipedia.org/wiki/Home_Affordable_Modification_Program

it was supposed to help 3-4 million, only wound up helping 500,000. Never too late to fix it (call it something different, make the aid much more direct, etc.)

RB from Gwinnett

September 27th, 2012
12:39 pm

Stands, from below…

Stands, are you really that naive to think EVERY election isn’t about swaying the group in the middle? Romneys mistake is he told the truth and morons who would never have voted for him got all upset about it. Kinda proves his point doesn’t it, stands?

I tell you what, though, since you don’t seem to get it. Why don’t you start a PAC and put all the resources into getting Rush, Hannity, and Boortz to vote for Obama. If you can get just one to flip, O is guaranteed to win. Sounds like a great use of your time and resources doesn’t it? If it doesn’t, it appears you and Romney have a little something in common.

Kamchak ~ Thug from the Steppes

September 27th, 2012
12:40 pm

.If corporations think they will get taxed more heavily in the future, they likely need to maintain material capital to employ to offset the hit to earnings more government influences will cause..

Rationalizing.

Tax rates were much higher in the 50s and we had the added uncertainty of nuclear annihilation, but yet we had a strong manufacturing sector; a greater union representation than we have now; benefits packages that included full health care coverage for employees plus their families, and a guaranteed pension plan — not this BS 401k crap that requires a member of the market place to siphon off a percentage.

Wealth has been distributed upwards for the past 40 years, and it’s been justified by this same bit of rationalizing that you are now displaying.

Again — uncertainty is a fact of life, and it is being used as an excuse to hoard.

Stevie Ray..Clowns to the left and Jokers to the right..here I am...

September 27th, 2012
12:40 pm

BRO,

If I remember my Keynes studies that he was for decreasing taxes and increasing spending in difficult times…funny how both parties subscribe to one aspect…

stands for decibels

September 27th, 2012
12:40 pm

Anyway, as much fun as it is to think about what I’d do with my Free Money, gots to go produce. Later!

DebbieDoRight - You Show Me A Capitalist & I'll Show You A Bloodsucker...

September 27th, 2012
12:41 pm

Instead, they’ve demonized the economy so bad, that the GOP can’t step forward and take credit for the things that are happening which are textbook GOP rhetoric and policy.

I personally like the part where they’re screaming for Less Guvmint!! , while politicking for a government job. Kinda makes you wonder if we’re all really in a reality show, (a la Truman), called, “Of Men And Fools”; that’s being broadcasted to another planet in the Zebulon Star System.

Welcome to the Occupation

September 27th, 2012
12:41 pm

Stevie Ray: “If I understand you correctly by your moniker, you are against our current capitalist system?”

Aren’t there quite a large number of people against the “current capitalist system”? And with good reason?

Actually, there are quite a lot of supporters of capitalism who are “against the current capitalist system” come to think of it, no?

stands for decibels

September 27th, 2012
12:42 pm

jeez, I can’t let this one sit…

Stands, are you really that naive to think EVERY election isn’t about swaying the group in the middle? Romneys mistake is he told the truth

you’re in pretty serious denial.

the problem wasn’t that Romney was discussing the realities of swing voter attraction. the problem was that Romney couldn’t resist telling a bunch of rich guys that Those People are, basically, scum who can’t take personal responsibility.

Do you really not get that, RB?

parah salin (the governor)

September 27th, 2012
12:43 pm

None of these number will make a difference. I think a previous post by Jay was correct. The republicans are going to lose in a year when everything seems to favor them. Here is something that I found interesting as it relates to the 47% thing, Romney is ahead in all of the TEN poorest states in the union. My bet is, most of the 47% lives in red states. Obama is probably going to win EIGHT of the ten most affluent states in the union. I guess that means that Obama’s policies favor the rich (or Romney needs to reconsider his thoughts about the 47%)

Jeffrey

September 27th, 2012
12:43 pm

Well the deficit should be fixed soon. All those corps making all that money. Everyone knows corps pay huge amounts in taxes Glad I could twist that into good news.

Jefferson

September 27th, 2012
12:46 pm

Romney and mom jeans, is this the best the GOP can do ? Lame.

Rightwing Troll

September 27th, 2012
12:47 pm

According to Mittens the very day after he’s elected, 2.3 million jobs will materialize… details not necessary…

JamVet

September 27th, 2012
12:47 pm

Our first ambassador killed since Carter and Romney blames our embassy personnel for sympathizing with their attackers.

What a stupid schmuck, huh?

Also interesting to me, is how you cowards say Obama is NOT responsible for having Osama bin Laden killed but he IS responsible for these four recent deaths.

What is with you ethically bankrupt screwups??

getalife

September 27th, 2012
12:47 pm

We know corporations and the wealthy do not need any help or any welfare.

We know the middle class are hurting and need better paying jobs to keep up with higher costs of living.

We know the gop refuse to cooperate and never vote to help the middle class so mitt is lying about helping them unless he can change the gop. Not..

This leaves only one choice this cycle.

Stevie Ray..Clowns to the left and Jokers to the right..here I am...

September 27th, 2012
12:49 pm

KAMCHAK,

I’m not sure you are not rationalizing…the unionized jobs and strong manufacturing in US is long gone and isn’t coming back any time in my life.

The risk here is not terrorism, the risk is the probabability that gov’t will change tax policy, regulatory policy (including medicare/caid reimbursments for example) or relax or increase what are characterized as impediments to success….Why build a new nursing home if the risk exists reimbursement rates will fall…take the HC bill as written, it is already driving up total costs for employers who are now shifting cost back to employees…these are real issues that are factors in investment decision making..

No rationalization here, it is just the business logic….serving shareholders interest as opposed to sacrificing shareholder value for what amounts to donations…which would get CEO’s and the like fired quickly..

getalife

September 27th, 2012
12:50 pm

The mindless support for corporations that need no help and the widening gap of wealth in this country will lead to socialism you cons say you hate.

So work on the middle class jobs and helping them close this gap or you will get socialism.

Rightwing Troll

September 27th, 2012
12:50 pm

” Here is something that I found interesting as it relates to the 47% thing, Romney is ahead in all of the TEN poorest states in the union. My bet is, most of the 47% lives in red states.”

Please refer to my post showing the top ten states for receiving welfare for confirmation that you’d win that bet… Also, curiously…, those same states are among the most obese…

There it is folks, Money Boo Boo’s chief constituency… on welfare and fat…

Welcome to the Occupation

September 27th, 2012
12:50 pm

Billybob: “the percentage was wrong ”

The point though is not the percentage being off by a bit here or there — in fact it was only off by about 1% — but the PREMISE that 1) those who pay no income taxes are people who are “dependent on government” and thus unable to take responsibility for themselves, and 2) that those very same people are all in Obama’s pockets, which couldn’t be further from the truth as a great many of those same people are retirees and seniors, etc., many of whom are faithful GOP voters (or were). So you’re missing the point.

“..but the point was honesty that the media continues to manipulate and lie about like what happened with romney in europe and concerning libya”

Why jump to foreign policy as though one is being used by the media to hide the other? That’s nonsense. The death of the Ambassador, terrible though it is, is not significant because of the fact that a Democrat or Republican is in office. It’s significant because of what it says about our imperial role in the world. And when it comes to this, both parties are right in line with each other, so it doesn’t really matter. If the fact that this happened under a Democrat bothers you, then why doesn’t the killing of the marines in Lebanon under Reagan bother you equally? Because your vision is selective, that’s why.

Brosephus™

September 27th, 2012
12:52 pm

Stevie Ray

That sounds about right for Keynes, but then again I’m no expert.

————————–

DDR

That “Less Gubment” crowd makes me laugh each and every election. They preach from Reagan 1:2 in that government is the problem while spending millions of dollars to become part of government.

Brosephus™

September 27th, 2012
12:53 pm

JamVet

Did you get my question from the previous thread?

RB from Gwinnett

September 27th, 2012
12:53 pm

Stands, ” the problem was that Romney couldn’t resist telling a bunch of rich guys that Those People are, basically, scum who can’t take personal responsibility.”

Hey, I get you libs don’t like dealing with truths, but do yo really think Obama has any less disdain for R’s? You know, the one he called his “enemies”? Or does he get a pass for having a D by his name?

I guess we won’t be seeing any ads from your PAC then, eh?

Rightwing Troll

September 27th, 2012
12:54 pm

“Also interesting to me, is how you cowards say Obama is NOT responsible for having Osama bin Laden killed but he IS responsible for these four recent deaths.

What is with you ethically bankrupt screwups??”

I already tried to point this out to Jay’s wingnuts, they just nodded their heads and said uh huh… In bizzarro wingnut world, Obama is directly responsible for not having enough guards on duty at the embassy, but had nothing to do with the raid that killed OBL (W gets credit for the kill, even though he never existed…)

Rightwing Troll

September 27th, 2012
12:56 pm

“Hey, I get you libs don’t like dealing with truths, but do yo really think Obama has any less disdain for R’s?”

The “truths” is that 7 of the top ten states collecting welfare are Red (and fat…)

Brosephus™

September 27th, 2012
12:57 pm

Rightwing Troll

:lol: :lol: :lol:

Granny Godzilla - Union Thugette

September 27th, 2012
12:58 pm

RB

“Hey, I get you libs don’t like dealing with truths,”

.
.
.
Ah nope.

We dealt with “your” truths….wmds, greet us as liberators,mental recession, socialists, muslims, hate america….

Silly silly Silly

Rightwing Troll

September 27th, 2012
12:59 pm

The “truths” is that Obama identified his “enemies” after they identified themselves on day one of his term. While caribou barbie identified any who don’t vote for her as “them” and “not real Americans”…

DebbieDoRight - You Show Me A Capitalist & I'll Show You A Bloodsucker...

September 27th, 2012
1:01 pm

it was supposed to help 3-4 million, only wound up helping 500,000. Never too late to fix it (call it something different, make the aid much more direct, etc.

Your comment reminded me of a scene from Showtimes’ “House Of Lies”. In it these consultants are trying to convince these Wall Street Players to choose them to represent them, (because they want to get their bonuses but know that the public will go gonzo if they do; so they’re trying to figure out a way to get their bonuses in an underhanded way).

The main character, Marty the top consultant, tells the Wall Streeters about a scam that’ll work for them. They can go on national television and say that they “understand” about the suffering thats been happening because of the housing collapse and they’re willing to work with as many as 10 million people who are underwater or sinking with their mortgages to come up with a lifeboat.

However, Marty points out that what will really happen is that they could deny about 9.5 million for stupid ridiculous reasons, have them jump through hoops but never make the cut, and only approve the remaining BUT shaft them with a higher interest rate and, when no one is looking; get their bonuses anyway.

Funniest show ever!!

http://www.youtube.com/watch?v=GYgPzw7lbtI

gtt

September 27th, 2012
1:02 pm

getalife

September 27th, 2012
1:02 pm

Those corporate profit numbers are sick and they don’t need to hire with those numbers.

Obviously they can afford to pay higher taxes and don’t need ay government welfare.

Can you cons agree to these obvious or are you still going to fight for more corporate welfare and lower taxes?

Brosephus™

September 27th, 2012
1:03 pm

50th!

Maybe if you had been 15 posts earlier…

:lol: :lol:

getalife

September 27th, 2012
1:04 pm

obvious facts.

0311/8541/5811/1811/1801

September 27th, 2012
1:04 pm

“OBAMA HAS MY VOTE, HE GAVE ME A FREE PHONE”

The old “tipping point” ……………. takers vs. makers.

0311/8541/5811/1811/1801

September 27th, 2012
1:04 pm

For those of you yesterday who said they didn’t want to read Ann Coulter’s new book on the historical institutional racism of the Democrat party …………… don’t.

Just read the footnotes. That’s indictment enough.

Kamchak ~ Thug from the Steppes

September 27th, 2012
1:05 pm

No rationalization here, it is just the business logic….serving shareholders interest as opposed to sacrificing shareholder value for what amounts to donations…

Sure, why risk investing large amounts of money in green energy technology when the pay off is years and years away, when shareholders interests can be gratified immediately? :roll:

I mean, it’s not like that idea was put forth 40 years ago by a sitting president who warned that our security would be threatened by terrorist using petrodollars.

You are rationalizing for the short term status quo when what we should be doing is investing in our country’s long term security by bringing manufacturing back to this country — and yes that means the shareholders will have to expect less for return on investment

Rightwing Troll

September 27th, 2012
1:05 pm

“The old “tipping point” ……………. takers vs. makers”

I hate it for you brother… but you appear to be a “taker”… part of that 47%…

0311/8541/5811/1811/1801

September 27th, 2012
1:06 pm

Maybe we should let the NFL referees decide who should be president ?

Regnad Kcin

September 27th, 2012
1:06 pm

“the percentage was wrong but the point was honesty that the media continues to manipulate and lie about like what happened with romney in europe and concerning libya”

B-Bob – It would be easier to take you seriously if I could tell what you were talking about? Thanks.

0311/8541/5811/1811/1801

September 27th, 2012
1:07 pm

Rightwing Troll:

Yep ………… after I gave at the risk of my life for 36 years vs. those who gave nothing ……… zero …………… nada ………… and that probably includes you.

Fly-On-The-Wall

September 27th, 2012
1:07 pm

If Romney and the GOP believe that Corporations are people and that people should not get handouts from the government then they should have no problems stopping all of the Corporate welfare tomorrow.

0311/8541/5811/1811/1801

September 27th, 2012
1:07 pm

Righwing Troll:

Got your free phone yet ?

Tundra Dude

September 27th, 2012
1:07 pm

“OBAMA HAS MY VOTE, HE GAVE ME A FREE PHONE”

RMoney has my vote…he gave me a free P.O. box in the Caymans….

getalife

September 27th, 2012
1:08 pm

scout,

And now you gave up on America,

Waved the white flag of surrender.

0311/8541/5811/1811/1801

September 27th, 2012
1:08 pm

Fly-On-The-Wall:

“If Romney and the GOP believe that Corporations are people and that people should not get handouts from the government then they should have no problems stopping all of the Corporate welfare tomorrow.”

Maybe you should send the above to Obama re: his bailout of the union/General Motors.

Kamchak ~ Thug from the Steppes

September 27th, 2012
1:09 pm

Money Boo Boo has my vote, he gave me a dog carrier for the top of my car.

0311/8541/5811/1811/1801

September 27th, 2012
1:10 pm

getalife:

The “tipping point” will show America destroyed itself from within.

Kamchak ~ Thug from the Steppes

September 27th, 2012
1:10 pm

Brosephus™

September 27th, 2012
1:10 pm

Yep ………… after I gave at the risk of my life for 36 years vs. those who gave nothing ……… zero …………… nada ………… and that probably includes you.

That doesn’t matter, just as Bush isn’t running for office anymore. The past is the past, and we’re in the present. If the election is currently makers vs takers, you sir, are a taker. Own up to it.

0311/8541/5811/1811/1801

September 27th, 2012
1:11 pm

“RMoney has my vote…he gave me a free P.O. box in the Caymans….”

No …………. the U.S. Congress did that through legal tax loopholes.

Take it up with them.

Rightwing Troll

September 27th, 2012
1:11 pm

“Yep ………… after I gave at the risk of my life for 36 years vs. those who gave nothing ……… zero …………… nada ………… and that probably includes you.”

Either you are or you aren’t… don’t try to redirect… I promise you this, my family has “sacrificed” more over those past 36 years than you. Have you ever seen the inside of a room at Bethesda Naval Hospital?

0311/8541/5811/1811/1801

September 27th, 2012
1:11 pm

Brosehpus:

Give up that federal teat brother ………….. you are a TAKER !

getalife

September 27th, 2012
1:11 pm

scout,

The tipping point is the wide income and wealth gap.

Your ideology made that happen.

You won.

Congrats.

You are helping to being socialism to this country.

Wake up .

getalife

September 27th, 2012
1:12 pm

bring not being.

Rightwing Troll

September 27th, 2012
1:13 pm

Why would I need a free phone when I have a perfectly good one that I paid for???

You don’t make much sense sometimes…

0311/8541/5811/1811/1801

September 27th, 2012
1:13 pm

Rightwing Troll:

“Either you are or you aren’t… don’t try to redirect… I promise you this, my family has “sacrificed” more over those past 36 years than you. Have you ever seen the inside of a room at Bethesda Naval Hospital?”

No but I spent a very long time in a room at the Camp LeJeune Naval Hospital. Does that count?

Geez !

P.S.

My Dad can whip your Dad.

Rightwing Troll

September 27th, 2012
1:14 pm

I’m pretty sure I don’t see Bro on here lambasting others who do the very same thing he does…

That’s called hypocrisy…

DebbieDoRight - You Show Me A Capitalist & I'll Show You A Bloodsucker...

September 27th, 2012
1:15 pm

Enter your comments here

Brosephus™

September 27th, 2012
1:16 pm

Give up that federal teat brother ………….. you are a TAKER !

Wrong. I live in a two-income home, and unlike you, I pay federal taxes. You sir, are on the government teat, not me. For what I get from the government, I put my ass on the line and give up my labor for in return for pay.

Why can’t you embrace your moochiness? You seem to have no problem about pointing out the moochiness of others.

Tundra Dude

September 27th, 2012
1:18 pm

Say it ain’t so…..all that $$ invested in Romney…they’re throwing in the towel already…?

Wall Street braces for an Obama win

Across Wall Street and the broader landscape of corporate America, even strong supporters of Romney acknowledge that swing state polling numbers and the direction of economic data and markets suggest it’s time to brace for a second Obama term.

http://www.politico.com/news/stories/0912/81738.html?hp=t2_3

Rightwing Troll

September 27th, 2012
1:18 pm

“My Dad can whip your Dad.”

Maybe, maybe not… another redirect… typical…

(being too frail to make it through basic training is a tad bit different from almost losing limbs and life from IED’s…, but that being said, I do commend you for your service and all you did for OUR country, 36 years is a choice, and probably not an easy choice…)

DebbieDoRight - You Show Me A Capitalist & I'll Show You A Bloodsucker...

September 27th, 2012
1:18 pm

the U.S. Congress did that through legal tax loopholes

Honestly scout, how old ARE you? CONGRESS makes people take their money and HIDE it in the caymans and that’s LEGAL?

If it was legal scout, then why would they hide it? Duh!

Aquagirl

September 27th, 2012
1:20 pm

The only thing to be found at the Commerce Dept. website is a headache.

Kamchak ~ Thug from the Steppes

September 27th, 2012
1:21 pm

Enter your comments any damn where you please, this is ‘murika after all.

0311/8541/5811/1811/1801

September 27th, 2012
1:22 pm

Brosephus:

I still pay a lot of federal taxes ………… I’ll guess you’ll be surprised about that when you retire brother.

Hey, I’ve got a better idea …………… give up that federal pension you Moocher !