Obama: 'Millions of jobs' in danger next year

reply to post by marg6043

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Yep, and since Obama has promised them drivers licenses and Social Security benefits, they're not likely to go home anytime soon.

I believe he was encouraging Congress to bailout the auto industry. If the US auto industry fails we will lose a minimum of 2 to 3 million jobs.

My take from the article was that Obama was saying we need to act decisivly to avert these job losses.

I for one hope that, in addition to infrastructure, we invest heavily in energy independence! I think the path is clear if we want the USA to work we must reinvest in our manufacturing base, restore tariffs, and keep good jobs in the US! I will give Obama a chance to work but if he won't do it we'll get someone else!

Quit spending so much money on useless weapons and start investing in our own nation and people. It ain't rocket science!

I don't understand the "deflation" explanation. The Feds flooded the system with over a trillion dollars, perhaps more. Is it the same like having my fridge stuffed and go hungry? Never happened to me.



[edit on 11/22/2008 by stander]

All I can say is that Obama had better be the miracle man he's been played up to be or he's going to have a very rough four years.

Charisma, sound bites, and comedy-skit philosophy ain't going to cut it.

reply to post by stander

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The problem is that those 2 trillion dollars ended up in the hands of groups that have not desire to inundate anything but their own fat pockets.

That is why the credit is still frozen.

reply to post by jsobecky

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I tell you the only boosting of jobs in America without the manufacturing base will be for the Immigrants.

Chart through Oct 1.
Current figures as of 11/19 stand at $652.85B gathering interest from the Fed and not circulating in the economy.

We've also had a massive contraction of credit, which is exceedingly deflationary.

So to celebrate the job losses Pres Obama is throwing a $5,000,000 Party for the unemployed after his inauguration??
And I didn’t get an invite.

reply to post by Bejing

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That's because you'll be picking up the tab.

I'll be kicking in the "tip".

So why is Obama concerned about the price of sausage spiralling down and not about the credit back in the freezer?

When deflation occurs amidst massive job loss and contractions in output it is a bad thing. Deflation drops prices down, companies make less, they have to cut costs so they lay people off...Because people are going out of work then there is even less demand as the jobless people have to further pinch their pennies, and then prices go down even further due to this decreasing demand and companies make even more cuts.

It's like having a fridge full of food and you die of starvation because you couldn't get the pad lock off the fridge door...Is that a little clearer? I really do hope this explanation works for you.

The credit in the freezer is there because the money(2 trillion) was passed out to the banks and now they are either holding onto it to stay afloat or buying other banks to take over their account to further flush themselves with capital. Because of this, expect credit to STAY frozen. This is the Paulson plan. A fascist consolidation of financial security. If they release the bourse of cash in their vaults then we will go into a period of hyperinflation, which serves no one, instead they are spending this money building wealth and infrastructure in other countries. If GM gets a bailout expect it all to go toward keeping their Russian and Indian operations to continue, with Chinese operations ramping up. GM here in the US will crash anyway and people will lose their jobs anyway. That is how the game is played.

We are going to be left with the bill, and since Bush made sure this all takes place before the 20th of January, there's not a damned thing Obama can do except invest in new industry that will BEGIN to take us out of the Greater Depression in about 10 or 15 years.

We don't have to suffer a bout of hyperinflation when Obama tells the fascists to defrost just enough assets to do away with the deflation. As the top gun of the Executive Branch of the US Government, he has certain powers, doesn't he?

reply to post by stander

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So tell me, genius, what would YOU like to see happen? You seem so hell-bent on Obama screwing everything up, even though he hasn't even been sworn in yet, that you fail to offer your view of the right decision. Care to add to the discussion, or are you just interested in smearing a guy that hasn't even had a chance yet?

I mean you don't even know what you are talking about. Did you take your talking points from Limbaugh or Hannity?

We already know what those jobs will be. Working for the government. Simple as that.

I will read Rahm Emmanuel's book where he talks about compulsory work for the state next week and see what they are planning...

But already on his website, it was promised that everyone MUST do at least a certain amount of work for the state each year...

Obama's youth...

But we shouldn't be surprised, he appointed a bunch of CFRs, Trilateral and Bilderbergers in his administration... this is just disgusting and this will be the most infected administration EVER of these kind of people. Me thinks that the Obama regime will be bad, very bad... when the shadow people are revealing themselves to work in the light, it's because they think they have won.

Obama could call his administration: The Bilderberg administration: because corporatism RULES!

[edit on 23-11-2008 by Vitchilo]

Spiraling prices aren't a symptom he's going to be treating... it's an indicator of a cause. A result if you will.
He's not trying to stop people from buying cheap goods, he's going after the cause...

Okay, some might not automatically understand this...

Take, say, a stereo system for example.
In good economic times, that stereo has a good chance of being bought, at a pretty good profit, as people are willing to spend that much money on it.

In bad economic times, everyone is trying to save their money. Nobody is willing to waste money on the cool things like stereo systems, so the store has trouble selling it. To get people to buy it (otherwise the store has to cover the full cost of the item) they drastically drop the price.

It's basically a sign that the stores feel they run the risk of closing if they don't get rid of the merchandise they have in stock.



See, he's not upset because prices are low, nobody is, everyone loves a bargain... the upsetting part is that the stores are having to get this desperate. If the stores can't turn a profit, you think you can? lol. Nope.

What a wonderful mess the last government has left us.

Let's hope Obama has a decent plan... I don't blame him if it fails though, they've basically asked him to bail out a boat that's already sunken.

Because the latest CPI was negative, and we do actually have deflation going on in the economy, generally unhealthy. I just hope they don't inject so much liquidity that we have an inflationary holocaust as a result

While lower prices would seem to benift the consumer it also creates a very real problem for lenders (banks).

If the value (price) of things such as houses, cars and large purchase items are in a "downward spiral" it becomes much more difficult to obtain financing to purchase.

For instance if I were to ask for a loan to purchase a $350,000 house and told the lender that the loan would be backed by the house as collateral the things the lender would want to known before making the loan would include my ability to repay the loan and the value of the collateral (house).

Lets say I can show that I have ability to repay the loan (I have an
income) and that the house has a value of $350,000 ($50,000 more than I am borrowing) this on the surface may appear to look like a safe loan make. After all if I default the bank would take possesion of the collateral (house) that at the time of the loan was worth more than the loan amount.

But, if the bank knew before making the loan that the house I was borrowing against (and using as collateral) was decreasing in value at a rapid rate "downward spiral" and although the value now is $350,000 trends show that this house will only be worth $200,000 in a short period of time it would not be a good risk for any lender/bank to make the loan. The collateral will not have the value to back the loan in a short period of time.

As values (prices) decrease (downward spiral) the lenders become more reluctant to loan and this adds to, or hardens the credit freeze that has slowed the economy.

As the credit freeze becomes more severe prices and values are driven lower and a vicious cycle begins. Buyers can not borrow to buy and sellers lower prices (value) in an attempt to sell.





[edit on 23-11-2008 by deepred]

I tell you what I'm talking about. It's not much about him, but the news article.




The photo shows Obama inside some food store, and the first paragraph says that he warns against falling prices. What prices? Retail prices?

Retail prices are the same except for gas prices that took a tumble. Is the MSNBC article trying to tell me that Obama knows better?

Obama meant commodity prices, mainly oil, and the MSNBC folks left it upon the reader to figure out what he meant. To make it "easier" they included a photo of Obama buying a sausage or something inside a retail store.

Is Obama really concerned about commodity prices going down as a harbinger of economy slowing down, or is he concerned about the disappearing profit of his rich Exxon friends?

He's not that stupid to tell you. My guess is that both things are worrisome for him.

It's nice that he calls for a "swift action," even though he is not in office yet, as you mentioned it.

He really can't do much, now and after his admin takes charge, with those "fascists packing their pockets with the bailout money." and freezing the credit. BTW he has other plans.


[edit on 11/23/2008 by stander]

That would involve interrupted credit flows at different intervals. Someone would catch on because credit would freeze every other quarter debasing pretty much the whole economy. That wouldn't insure profit for the top fatcats. The best thing to do would be to use the bail out money for aquisitions, and funneling gold, silver, and capital out of the country. The fascists need the dollar strong for now. Once the pieces in the chess board are properly placed then the debasing of the American dollar will take place as China's large cache of T-bonds come to maturity over the next few years. Each one they cash will push the US Government closer and closer into default....

Out of these ashes will emerge a new OPEC trading currency backed by gold and America will become a third world nation. The steps are already being taken. Here's a thread I wrote on the matter..
www.abovetopsecret.com...'
I predict war with China when we become insolvent....Either that or we have to put up with our assets being frozen to prevent China's piggy bank from going bust. They won't take our emensely devalued paper money as collateral when that time comes. I wouldn't.

Case in point:
news.goldseek.com...


Since 2002 China has allowed private citizens to buy gold stocks as well as keeping large amounts of gold circulated through China, and confiscated in time of need as countries in economic trouble as bad as a depression tend to do.

english.peopledaily.com.cn...


If I were a thinking man I'd say China is trying to push America into insolvency.



[edit on 23-11-2008 by projectvxn]

[edit on 23-11-2008 by projectvxn]