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Old 02-20-2010, 01:54 PM   #106 (permalink)
dogzilla
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[quote=pan6467;2760566]I personally don't see ANYTHING better than 2 years ago as far Obama is concerned./QUOTE]

Some things are slightly better but I don't see great improvement either. The DJIA has somewhat stabilized up about 20% from where it was when Obama started, but that level seems weak since every time Obama makes a dumb statement about taxing banks or canceling bonuses the stock market drops again for a few days.

The financing crunch from a year and a half ago seems to have eased but I read about small businesses still having problems getting financing and Obama seems convinced he has to do something about that.

Unemployment is up from a year ago and is projected to be around 10% for years.

Foreclosures are still a problem. Car sales and home sales were up a bit but that seems more like stealing future sales thanks to Obama's giveaways with cash for clunkers and home purchase credit. I read stories shortly after cash for clunkers ended that car sales fell off the cliff again and there was great concern that the same would happen with home sales if the home purchase credit ended.

Now I'm reading that commercial foreclosures are expected to be a problem. I'm reading complaints that the credit card companies are boosting rates again.

I think the reality is that there has been a fundamental shrinkage in the economy thanks to people no longer being able to use their home equity as a piggy bank and no longer being able to live on credit. I think Obama is going to have to deal with that instead of trying to artificially inflate the economy and stick the taxpayer with a huge debt.


Quote:
Originally Posted by pan6467 View Post
There is no reason, whatsoever, that a person who works 40 hours a week should have to live on food stamps, live in fear of foreclosure, need government assistance in ANYWAY.
So where do businesses get the money to make this happen? Most businesses are not making huge profits where they can afford to pay increased salaries and remain competitive. And no, I don't think excessive executive salaries are the rule. Maybe in some large corporations, but in small businesses I think lots of owners are just getting by. I have inlaws who run a small software business and they are commenting all the time about how the money just isn't there.

Secondly, what is a reasonable income? If it's say $15.00/hr, then how is paying the person who formerly made $8.00 /hr $15.00 hr remotely fair to the person who was skilled enough to earn $15.00/hr? What happens to his salary? If it stays at $15.00/hr then why should he improve his skills when all he has to do is show up at work to collect $15.00/hr? If the $15.00/hr guy's salary now increases to $23.00/hr or $30.00/hr then what happens to inflation?

I've been thru this personally and the answer in my opinion is not to just pay everybody what the government says is sufficient to cover his living expenses. When I started working, the best job I could find was at just under 2x minimum wage. I decided that I didn't like that, so I spent the time learning skills that were needed to get hired by the company that I wanted to work for in the first place. It took me a few years bt managed to get to where I wanted to be.
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