Off Topic · According to an article in Forbes, Obama's stimulus would be a mistake? (page 1)

Sorry, but I thought this was important to post.

There actually may be some truth to this. I mean George Bush's attempts haven't helped much either, when you think about it.

And it's disturbing to see what businesses are going to suffer the most this year. It's getting pretty scary out there folks! Don't lose your jobs, if you can help it.

http://finance.yahoo.com/family-home/art...

In fairness, about a month and a half ago, Time magazine printed a story about what businesses want from Obama. According to the article (and I put it on this board about a month ago) 76% of business don't trust Obama. Do you think there may be some truth to the stimulus not working, or do you think it's just businesses putting out scare tactics. I mean if things get this bad, then we are talking about a depression here in the near future, aren't we?

What do you guys think of this?

I wouldn't pay much attention to anything in forbes- steve forbes is a bit of free market nut, and is probably pushing that agenda.

And franco12 is a communist.

This has a lot to do with the Knicks.

Hard to say really. Though trillion dollar deficeits for years to come sounds like a stupid financial policy. Especially with the way gov't money is usually used. i.e. Katrina, the current bailout. The new code word for pork is now 'stimulus'. There's gonna be alot of ridiculous things you and I will fund either now or later in the name of this.

Posted by 4949:

Sorry, but I thought this was important to post.

There actually may be some truth to this. I mean George Bush's attempts haven't helped much either, when you think about it.

And it's disturbing to see what businesses are going to suffer the most this year. It's getting pretty scary out there folks! Don't lose your jobs, if you can help it.

http://finance.yahoo.com/family-home/art...

In fairness, about a month and a half ago, Time magazine printed a story about what businesses want from Obama. According to the article (and I put it on this board about a month ago) 76% of business don't trust Obama. Do you think there may be some truth to the stimulus not working, or do you think it's just businesses putting out scare tactics. I mean if things get this bad, then we are talking about a depression here in the near future, aren't we?

What do you guys think of this?

as obama said, do you have any better ideas?

76% of business "dont trust obama" 4949? what kind of numbers are those? who was polled? what kind of businesses?

Better than running trillion dollar deficeits year after year? Yes I do. A number of them in fact. One would be to o nothing. Not the one I'd put forth as my best, but given that spending that kind of money on meaningless projects or CEO bonuses would be more harmful than beneficial.

Posted by BigSm00th:

as obama said, do you have any better ideas?

76% of business "dont trust obama" 4949? what kind of numbers are those? who was polled? what kind of businesses?

Let me see...In this corner we have a recent Nobel Prize(2008) winning economist, Paul Krugman who thinks Pres. Obama proposal isn't spending enough on his stimulus plan...http://www.nytimes.com/2008/12/01/opinio......along with many moer like this...

Also in this corner the IMF,the guys who oversee the Global Financial System say we need a massive stimulus plan...

http://www.huffingtonpost.com/2008/12/30...

Also in this corner we have Larry Summers and Paul Volker, one former Treasury secretary and one former FED Chairman (before Greenspan) in on board with Obama....

In the other corner is a political hack, Howard Davidowitz, with no scholarly financial cred other than being in competition with the very institutions he is against getting the bailout out money...The bigger investments banks are just better at underwriting larger deals so he would love to see them fail...Their failure is his gain...

Guys, the bailout out is a necessary evil...This is one of those things where we just have to hold our noses and go in...Without the previous intervention, this economy would have been done...

Posted by BigSm00th:

as obama said, do you have any better ideas?

76% of business "dont trust obama" 4949? what kind of numbers are those? who was polled? what kind of businesses?

It didn't say exactly, but you can almost bet it wasn't small ma and pa corner stores, thats for sure. Like I said, I posted it about a month ago. I'll try to find it again. A part of this article is true, because a lot of the mentioned businesses have already announced more closings and layoffs this year and it is true that you almost have to let a recession bottom out. It's just that is in no ordinary recession, so the question is if this can actually happen. Really comes down to what you believe, but no one can predict what's going to happen overall.

Posted by holfresh:


Guys, the bailout out is a necessary evil...This is one of those things where we just have to hold our noses and go in...Without the previous intervention, this economy would have been done...

I know I asked the question, but sounds like what your saying is 'the stimulus is not going to work' because you say it's a necessary evil? (no diss to our very own eViL).

Posted by BigSm00th:

as obama said, do you have any better ideas?

76% of business "dont trust obama" 4949? what kind of numbers are those? who was polled? what kind of businesses?

I found it, but the actual figure was/is 74% and it was an article in BUSINESS WEEK! Not Time magazine. I was trying to remember the article off the top of my head. But here it is below. This is what I read.

http://www.msnbc.msn.com/id/27597955/

that article is dated november 9th, i think the reaction has been fairly positive so far, especially from the business world. (small and large)

Posted by BigSm00th:

that article is dated november 9th, i think the reaction has been fairly positive so far, especially from the business world. (small and large)

What's the point of asking me for evidence if your not going to take any of it into consideration? Does everything have' to be right up to date? The world doesn't work that way buddy. I put this post on to be objective, not emotional.

Posted by 4949:

Sorry, but I thought this was important to post.

There actually may be some truth to this. I mean George Bush's attempts haven't helped much either, when you think about it.

And it's disturbing to see what businesses are going to suffer the most this year. It's getting pretty scary out there folks! Don't lose your jobs, if you can help it.

http://finance.yahoo.com/family-home/art...

In fairness, about a month and a half ago, Time magazine printed a story about what businesses want from Obama. According to the article (and I put it on this board about a month ago) 76% of business don't trust Obama. Do you think there may be some truth to the stimulus not working, or do you think it's just businesses putting out scare tactics. I mean if things get this bad, then we are talking about a depression here in the near future, aren't we?

What do you guys think of this?

What is the point of citing that 74% of businesses don't trust Obama because typically business are Pro-Republican so who cares. Also if Obama doesn't piss off a few business then he won't be doing his job very effectively because clearly President Obama needs to take a different approach (then cough*cough* Bush) to the business community in this country.

Posted by bitty41:

Posted by 4949:

Sorry, but I thought this was important to post.

There actually may be some truth to this. I mean George Bush's attempts haven't helped much either, when you think about it.

And it's disturbing to see what businesses are going to suffer the most this year. It's getting pretty scary out there folks! Don't lose your jobs, if you can help it.

http://finance.yahoo.com/family-home/art...

In fairness, about a month and a half ago, Time magazine printed a story about what businesses want from Obama. According to the article (and I put it on this board about a month ago) 76% of business don't trust Obama. Do you think there may be some truth to the stimulus not working, or do you think it's just businesses putting out scare tactics. I mean if things get this bad, then we are talking about a depression here in the near future, aren't we?

What do you guys think of this?

What is the point of citing that 74% of businesses don't trust Obama because typically business are Pro-Republican so who cares. Also if Obama doesn't piss off a few business then he won't be doing his job very effectively because clearly President Obama needs to take a different approach (then cough*cough* Bush) to the business community in this country.

Yeah, I'm sure the businesses were overwhelmingly in favor of Bush's economic policies.

Posted by Bonn1997:

Posted by bitty41:

Posted by 4949:

Sorry, but I thought this was important to post.

There actually may be some truth to this. I mean George Bush's attempts haven't helped much either, when you think about it.

And it's disturbing to see what businesses are going to suffer the most this year. It's getting pretty scary out there folks! Don't lose your jobs, if you can help it.

http://finance.yahoo.com/family-home/art...

In fairness, about a month and a half ago, Time magazine printed a story about what businesses want from Obama. According to the article (and I put it on this board about a month ago) 76% of business don't trust Obama. Do you think there may be some truth to the stimulus not working, or do you think it's just businesses putting out scare tactics. I mean if things get this bad, then we are talking about a depression here in the near future, aren't we?

What do you guys think of this?

What is the point of citing that 74% of businesses don't trust Obama because typically business are Pro-Republican so who cares. Also if Obama doesn't piss off a few business then he won't be doing his job very effectively because clearly President Obama needs to take a different approach (then cough*cough* Bush) to the business community in this country.

Yeah, I'm sure the businesses were overwhelmingly in favor of Bush's economic policies.

No' they weren't.

We'll just have to wait and see if this is true, once Barack gets the money going into the system. I don't know if it will get the economy going again, but it certainly will create some jobs. I'm very hopeful.

http://news.yahoo.com/s/ap/20090128/ap_o...

Apparently, the job loses are accelerating and going to get worse as this year goes by.

I find it strange how everything is come crashing down now that Barack is president. The reason why I brought the article forward about what business wants from Obama and the 74% who did not trust him, based on polls is because BIG businesses are billion dollar companies, some multi billion dollar.

With that kind of money, a business can lay off as many people as it wants and the owners of those businesses can virtually walk away with their billions.

So' would it be too far fetched to believe that a huge industry like business in this country would go out of it's way to layoff millions of people just to spite Obama's efforts? To try to under mind his plan to not only inject billions of dollars into new work forces, sciences, environmental business, etc. but also from the fear of being taxed by the new president?

All of these huge business names are Republican backers, because for the most part, they have enjoyed low taxation for years, saving them millions of dollars a year, not to mention other big business benefits they have received. This was my concern ever since I first saw that article almost two months ago now. These names that you see, these are some of the cream of the crop names. The latest economic figures seem to point into this direction more and more.

And also hasn't Barack said repeatedly that he wants to create 'NEW' jobs for America? Meaning new fields in technologies that will be in the fields benefitting the environment? Not giving big business tax cuts, to fuel those companies to spur job openings can be a problem.

So we seem to be reliant on big business to keep us all afloat. Relaxed in our current roles in our working society. A society that we have invested in for decades. To have it all suddenly be threatened by change disrupts many things and I believe that is what we are seeing before our eyes.

When Obama says it's going to get worse, before it gets better, he really means' it's going to get worse before it gets better. So we are talking about re-educating ourselves, adjusting our ways of life and learning to go through some major, drastic changes for the new economies that are upon us.

This is a direct threat to big business and if need be, they will cuts ties with all and re-invest their resources into this new economic plan that Barack keeps talking about. All of this talk about Wall Street's woes and people like Bernie? These are sacrifices that big business is making to survive. Step on and crush the one billionaire so the five billionaire will survive. So on and so on.

And if you wanna start a business, good luck on getting a loan. Banks are owned by Govenment and Government is owned by the very rich. That's how it works and Barack and company only has so much power. But Barack's power lays within his people, the common people and if we are all smart enough, we can spur a whole new world, if we are willing to change our lives, if we are willing to break out of the big business molds. Obama's words are only as strong as his people, only if they act upon them. So how Obama interprets is vitally important to all.