Obama: 'Millions of jobs' in danger next year

Obama: 'Millions of jobs' in danger next year

www.msnbc.msn.com
(visit the link for the full news article)

Obama seems to be concerned about "falling prices." How did the President-elect figure that prices are spiralling down?

Just look at the photo to the right of the article. Here he is: Mr Obama went shopping and became horrified by the food prices that, after taking off with the price of gas last year, are too low for our leader designated.

Surely, Mr Obama means well. It's all just a case of junk Internet juornalism to link him with falling prices and add a photo of him buying a sausage.

But>>>>> What if Mr Obama had on his mind the falling prices of oil?

Aaah, not a good start, Barack.


Can anyone figure out what he meant by that "spiral of falling prices" and how bad this is for the American consumer?


www.msnbc.msn.com
(visit the link for the full news article)

Millions of jobs in danger?
Currently there are thousands of jobs in danger so maybe that is the change he is talking about.

This is nothing but a CYA comment after finally realizing being President will not be as easy as he originally had envisioned.

Of course, lower prices are a result of falling demand for consumer goods.
Just like the price of oil.

Maybe that's what he meant.

I hate that though, everyone likes lower prices, but they make that seem like that is what's wrong, perhaps they should focus on people who are broke, if they have money, they can buy stuff (and cause inflation).

Same with houses, they are all up in arms because house values are falling, like it's a bad thing (If you bought high, sure). But if you are looking for a house now, it's a good time, perhaps more people can afford a mortgage now and not have to default on it, which causes certain problems they say (they like to blame the consumer of course) with the financial market.
We, the dummies (people); they, the annointed (CEO's, politicians, bankers) ones.


Seems they get you in good times and bad.

Lots of jobs=good
Higher price of consumer goods=bad

Few jobs=not good
Lower price of consumer goods=good

compulsary military service should certainly boost employment numbers and help the economy, this may be the change he is talking about

There are thousands in one city. Obama is right about millions. What he don't understand is that we have already seen massive inflation from everything like food to fuel. Its about time prices come down so people can have some relief.

We got taken to the cleaners by high prices and now we are losing our jobs or taking pay cuts. That stimulus package had better be a good one or nothing will stop the free fall in the economy. If those rocket scientist in D.C. would have gave the 700 billion back to the real tax paying Americans then the economy would be fixed already. That would give every person assuming there are 200 million of us taxpayers here $3500.00 per year and allot more if they make it to people who make less than $100,000.00 a year witch is what they should do.

The government takes roughly 4.5 trillion a year from us tax payers so they can afford it and they had better do it now before Armageddon happens.

I guess things got settled one way or the other. Obama surely knew what he meant, but he should get used to the fact that he is talking to the nation now, and the nation includes those who may like to see the prices at the gas stations going down still, not up. Just minor oops from the President-elect.

There are 225,633,342 +/- adults over 18 in the US. If they had taken just Four Billion and destributed to us at 1 mil each and a max 2 mil to each household It would have gone along way to curbing most of our debt and our economy would be in much better shape.
Instead, they gave the money to the banks. Our tax money, and then tell us that we have to still pay our debts and also pay back the government shortfall we gave to these same banks and raise our taxes to do so. Yup, Yup, makes perfect sense to me. But then again, I'm no banker or politician!

Zindo



[edit on 11/22/2008 by ZindoDoone]

Face it. While we worry about insignificant political issues and fight over stupid crap, the foxes are in the hen house and they are carting off everything except the roof.

Obama might be a good man, he might not. Regardless, all of his pie in the sky nonsense he rambled about to get elected will be useless in the face of a bankrupted US economy.

Um... guys... Obama is showing what he has learned about economics. He has been studying the economy (as have many who have concerns about it) and he is concerned about deflation.

Deflation is spiraling prices as an indication that there isn't much money or credit to be had and people aren't buying things. That's why gas is low. Because people aren't buying it. It's a Bad Thing. It precedes depressions.



Deflation

What Caused the Great Depression

reply to post by stander

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If you are to post an OP to to talk about one topic please be nice enough to post the entire links that explain the reason why the new president made the comment he did.

From your source



Falling prices raise worries about deflation
Sustained trend could create headwind for growth, problem for markets

While deflation is a good thing for the economy too much of it will render the economy at the mercy of depression.

Prices for housing, fuel, and other things were at an artificial high due to speculation, and to a much lesser extent, demand. We are now seeing them return to normal levels.

We're using as much gas as we ever did, if not more. We haven't had to rent out 1/2 of our house, so we're living in the same amount of space.

Production of oil has not decreased. When Ahmadinejad decides to squeeze his customers, and Chavez goes along with him, you will see another spiral of rising prices. All they have to do is threaten to lower production.

Get ready for more soup kitchens and bare grocery stores...unless you can eat corn 24/7, 365...

The only thing that makes sense to me is that he may be referring to the falling prices of stocks and houses. If he is talking about the falling prices of goods and gas, then your absolutely right. Not a good start, Barack.

I can't imagine how anyone can think (except the people selling) of the prices of goods and gas going down is bad.

reply to post by Mystery_Lady

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That's because people don't understand economics. We're in a period of very loew demand and this is set to get worse. In times like these lower prices means lower demand and can be a very good indicator as to the financial trouble we're in when people can't afford to buy products that are cheap.

Deflation is not always a good thing. The minute I saw gas prices beginning to fall I knew we were in some serious trouble. Same with gold and other commodities.

The credit freeze combined with low confidence as left alot of people VERY cash strapped, and the prices going down is an indicator of a contraction in the America economy not an expansion.

Those of you that keep saying stupid things like "Maybe this is the change he promised" might wanna get informed on the rules. Bush is president until Jan. 20th, and people losing their jobs has nothing to do with the Obama administration as it is Bush who is handling this mess and it is Bush who is mismanaging it.

I've stopped being an Obama supporter, but this whole tugging at whatever blame you can pull from this and dump onto Obama is ridiculous. Most of the time we give newly elected presidents the time to screw up..You can't blame people for things they are not present for.

Millions of jobs will be lost. But those indicators have already come out, Low demand(Which in these times just means people are broke) on oil, food, retail(which include automotive sales) and financial markets. This combined is OF COURSE going to cause the loss of jobs.

reply to post by stander

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Actually there is such a thing called a deflationary spiral which is in many ways far worse for the economy than inflation or stagnation.



en.wikipedia.org...

[edit on 22-11-2008 by grover]

reply to post by stander

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This is from your source



Is this not what he was saying prior to getting elected?

I got a feeling his administration elect is already trying to lower expectations. If jobs losses continue to increase after he takes office they will blame it on Bush. Obama was elected because he said he had plans that would create jobs and improve the economy..

I say no excuses..get busy. None of this isn't anything he didn't know prior to getting elected.

reply to post by munkey66

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I guess he's going to put people to work building bridges and roads.
Maybe he will pay them a few dollars.
Who knows...........

Actually the building of roads and bridges right now is in the hands of immigrants from south of the borders as construction in America is mostly done by them.

So the only ones making money will be the illegals in the country.

"Millions of job in danger next year"? I'm guessing Obama's job won't be one of them. Just us useless eaters that will need to worry about providing for ourselves and our families.

Since all economic models have proven to be a failure I'm sure a new monetary system will be implemented. RFID chips with "credits"?

All economic systems rely on a pool of cheap labor in order to thrive. There can never be economic equality if any of our current monetary models are allowed to continue. Any profit driven system requires that SOMEONE make less money than someone else.

At one time this country had slavery. Essentially free labor. Certain people thrived and profited greatly under this evil system. Then there was serfdom/indentured servitude (which we still basically have today). As long as the labor and production of many continued (continues), a few can continue to profit.

Yes, some does "trickle down" but never enough crumbs fall from the masters' tables to adequately feed the dogs.

An entirely new paradigm is needed. We are at a crossroads in which a more equitous system is initiated or the old system will finally close in to thoroughly insulate and empower those who've benefited from the old paradigm.