Stimulus @ Work In Indiana
Tweet
More than 2,400 people are now at work on federal stimulus-funded roadway projects in Indiana, according to a state report being released today.
Covering 83 projects and listing a total payroll of $2.8 million, the Indiana Department of Transportation report details only a small fraction of the hundreds of projects so far selected for funding using the $440 million the agency received under the American Relief and Recovery Act.
Economists say it’s too early to tell whether the long-term value of President Barack Obama’s economy-boosting effort will justify its $787 billion cost. But construction executives say stimulus-funded projects certainly have created jobs and spared layoffs within the industry.
‘Things were slowing down, and the stimulus filled in the gap,’ said Tim Mahoney, an economics professor at the University of Southern Indiana.
‘It has kept people employed that would be laid off.’
This is happening all around the country.
72 Responses to “Stimulus @ Work In Indiana”
GOP Rep. Spencer Bachus Facing House Ethics Probe For Insider Trading
Jennifer Aniston Reportedly Pregnant With Twins
PHOTOS: Tamara Ecclestone At The Langham Hotel
Red Front? “Center For American Freedom” Logo Echoes Communist Style
Romney Calls For Defunding Planned Parenthood, Wife Was A Donor
GOP Fundraising Email Asks Supporters To “Knock Out” Obama
Romney Comes Up Limp In Nevada
Obama Opens Lead On Romney In New Poll
Latest Entries
Why Do Liberals Support Drone Strikes?
Weekly Standard Rolls Out The Iraq Argument For Iran
Equal Polarization, My Ass
Some Crazy Stuff That Happened In World War II
Maryland Republican Campaign Funds Used To Defend Voter Suppression
The Obama Jobs Record In One Graph
Martin O’Malley All In For Marriage Equality
Newt Gingrich, Filled With More Excrement Than Your Average Politician
New Year, Powerline Still Stupid
Thanks Again
Meta
Blogroll
Disclaimer
The views on this site are mine and mine alone, and do not reflect the views of my employer, Media Matters for America
© 2000-2011 Oliver Willis
Ah yes…the key to prosperity has arrived!
Not so much in the DC area yet, still sitting on the bench at the hall and have been since December. That said their is metro expansions, aqueducts and many many bridges that are going to be patched up soon.
Dow at a six month high, stimulus putting people to work. Of course we know it’s way too early to be celebrating, but by the standards of our wingnut friends here, the Obama stimulus is clealy a spectacular success.
I LOVE the Comments section …
“Ah yes…the key to prosperity has arrived!”
I’d love to see you say this to the face of one of the men or women who know can put food on the table, pay the rent, and/or maintain the house payment thanks to these jobs. Really — tell them with a straight face that the stimulus bill isn’t a good thing for them, or that government can’t create jobs.
That’s the thing about you wingers — people’s livelihoods are an abstraction to you. You can’t comprehend or empathize with folks who are getting back to work now thanks to Obama’s stimulus bill.
As I’ve said before, nobody has a crystal ball. But in six months Obama has stabilized, if not turned around, the Bush Recession. Granted, the timing of his election was such that anyone would eventually benefit from a pick-up (to put it another way, it couldn’t get any worse after eight years of Bush, it had to pick up).
But really, I can’t wait until Obama trounces whatever lame-ass Randian the GOP puts up in 2012. Because your faith in a false idol called “conservatism” is greater than the actual economic well-being of real, living and breathing Americans. And this is why your party is dead.
“Dow at a six month high, stimulus putting people to work. Of course we know it’s way too early to be celebrating, but by the standards of our wingnut friends here, the Obama stimulus is clealy a spectacular success.”
Too early to be celebrating, but not too early to see that four more years of Republican “economics” would have destroyed the country.
My party ain’t dead Bubba. I expect big gains in 2010, as we take the mask off what a joke this administration is. I fully expect you Dems to gloat, you’re not used to winning. Time is running out on that though.
Yeah, let’s spend trillions of dollars to bring a few measley jobs back. Fact is you don’t create long term prosperity through road construction jobs or “shovel ready jobs”. You stimulate the private sector, not the government.
So not only is unemployment going higher and higher and higher, but your beloved Democrats have created a hell of a fiscal mess that will result in massive tax increases. So congratulations on that.
And I have no problem telling people stimulus packages are dumb ideas. None whatsoever. I’m an economic libertarian….The economy is self correcting, government only prolongs problems.
While you’re crowing about those 2,400 people, the other 10.7% of the state’s workforce would like a word.
Barack Obama: putting people out of work since 2009.
How many people have been laid off because of Obama’s dopey policies? I’m guessing more than 2400…Heh.
And I have no problem telling people stimulus packages are dumb ideas
Thats okay, because stimulus packages think Gabriel McKee’s are dumb ideas too, so it all evens out.
How many people have been laid off because of Obama’s dopey policies?
Probably close to zero. Any more stupid questions?
Barack Obama: putting people out of work since 2009.
Yep, according to the right wing nothing happened before Jan. 20 that might have an effect after Jan. 20. This is why Republicans keep driving off the same cliff. Those who don’t know history are doomed to repeat it.
Which would be fine if they weren’t fighting tooth and nail to make us repeat it with them.
Close to zero? bwhahahaa….Talk to some business owners and get back to me with a new estimate.
The economy is self correcting, government only prolongs problems.
Okay, Gabriel. Explain how this would have worked in the current economic meltdown. Please be specific.
I’m guessing
Yeah, you are.
“Fact is you don’t create long term prosperity through road construction jobs or ‘shovel ready jobs’.”
The idea of the stimulus wasn’t to create long term prosperity all by itself, it was to get us out of the GOP/Bush Recession. It’s like going to an ER because you’re bleeding to death. Once the Bush Recession ends (probably by the end of the year), and once unemployment numbers improve (a lagging indicator, probably not something that will look too rosy until the second half of 2010), then you can start really laying the groundwork for a Clinton/1990′s style era of prosperity.
Guess we won’t know what’s up until 2012, but I’d be happy to make bets that the GOP will actually lose more seats.
“The economy is self correcting, government only prolongs problems.”
Not when you’ve got Wall Street basically playing the equivalent of slot machines with other peoples money due to hyper-deregulation.
The private sector needs oversight to work best. The last few years are a testament to what happens when Randians like Greenspan are allowed to fuck us all over.
“While you’re crowing about those 2,400 people, the other 10.7% of the state’s workforce would like a word.”
Because 100% of the stimulus package went to Indiana and not to any of the other 49 states. Christ you’re an idiot.
“Talk to some business owners and get back to me with a new estimate.”
Like the vendors and sub-contractors in Indiana who will get asked to provide material and labor? Because yeah, building highways can be done by two dudes and a really heavy wheel. Doesn’t take supplies, equipment, machine operators, or anything like that.
Jesus, do you know anything about how modern economies work? Apparently not.
Fact is you don’t create long term prosperity through road construction jobs or ’shovel ready jobs
History is your friend. Study it.
Gabriel, while you’re reading up on the 1930s, why don’t you also tell us all why the mini-stimulus (Lots and lots of 600 dollar checks into private hands) failed.
Take your time.
I know several small business owners, Gabriel, and none of them to my knowledge has sacked anyone as a direct result of Obama’s policies. They’ve sacked some people due to the crappy economy that’s existed since before O took office, but that’s a different thing, as I’m sure you understand.
Now there are, probably, a handful of wingnut business owners who heard Rush Limbaugh say that Obama was bringin teh soshalizzum and went out and fired people because of that. That’s why I said “close to zero” instead of “absolute zero”, but most business owners aren’t nearly that stupid, in my epxerience. Maybe your experience is different. Guess it depends on the company you keep.
Oh God, libs are still going on about the New Deal. Yeah fall back on that…so what if it was almost 80 years ago, and has a mixed track record at best. FDR was awesome!
“Oh God, libs are still going on about the New Deal. Yeah fall back on that”
Fall back on the greatest economic recovery plan ever? Sounds good to me, but we’ll have to wait until the end of 2010 to see how effective Obama has been at counter-acting the Bush Recession.
“FDR was awesome!”
My irony meter is broken due to your failure to make any sense, so I’ll just take you at face-value. Yes, FDR was awesome. Got us out of the Great Depression, and won WWII (or technically Truman did, but you have to give FDR credit).
Keep swinging and missing, Gabriel.
(Is this where you try and tell us what great presidents Harding, Coolidge and Hoover were? As opposed to two of our greatest in FDR and Truman? Yes? Goodie! More wing-nuts losing their mind every day!)
Remember how just recently many in the right wing said that those that weren’t ‘with’ Republican President Bush were ‘against us’ (and basically said that those that weren’t ‘with’ Republican President Bush were ‘with’ the terrorists)?
Does that work with right wingers who are against Democratic President FDR, who defeated two totalitarian cults (Nazi Germany and Imperial Japan)?
Are the right wingers that are ‘against’ Democratic President FDR with the Nazi’s and/or Totalitarian Cults?
Enlighten US, “Gabriel McKee”, by the right wing magic of ‘if you’re not with us you’re against us’, are you with Totalitarian Cults in general or just Nazi Germany specifically.
(And if there isn’t an addendum to Godwin’s Law for poorly educated jerks talking smack about FDR, there should be).
Considering right winger “Gabriel McKee’s” revisionist sense of history, perhaps he should examine the relative successes of left and right economic systems:
Democratic President FDR pulled US out of the Great Depression.
Right wing economics shoved US into the ongoing Republican 2007 Great Recession.
Why are you rooting for America to fail, “Gabriel McKee”?
Not a fan of FDR. At least his economic polices. And the fact that he broke the two term tradition. And internment camps. And stacking the Supreme Court. And I’m not a fan of the other ridiculous shit he did. Truman was rather underrated in his day.
And yes, Calvin Coolidge is one of my favorite presidents.
The New Deal era is long gone. Come up with some new ideas.
Winning the largest armed conflict ever, getting us out of the Great Depression, and launching a decades-long cycle of economic expansion that made the US the envy of the world isn’t good enough for you?
Reagan was certainly impressed by it. As are all reality-based adults like my older relatives, people who actually lived and suffered through the 1930′s and later in WWII.
But please, enlighten us some more as to Republican Calvin Coolidge’s contributions to America’s greatness.
But in six months Obama has stabilized, if not turned around, the Bush Recession.
Hilarious. Absolutely hilarious.
Not when you’ve got Wall Street basically playing the equivalent of slot machines with other peoples money due to hyper-deregulation.
Oh good Lord this is stupid.
Jaim, I’d like you show me a no load mutual fund that over the last 30 years has LOST money. Please. Enlighten us as to how investments like that are the equivalent of slot machines.
The mind boggles.
Jay, I realize you don’t do facts or informed opinions, but here’s Nouriel Roubini’s stilly-gloomy but ultimately positive forecast (i.e., the Bush Recession is in its 19th month, and historically “U-shaped” recessions last about 24, and while growth will be low it’s better than negative growth).
http://bloomberg.com/apps/news?pid=20601087&sid=a2Ycv6qB7FvA
But please, continue to root against Obama and America. This is really going to pay off for your doomed party, I’m certain of it!
The point being, we still have a ways to go, but stimulus spending in a time of of Recession is a no-brainer among adults in the reality-based community. I’m sure you spent the time continuing to board up the windows of your mom’s basement and buying more ammo but hey, that’s why nobody has ever taken you seriously.
You’re arguing Wall Street didn’t lose trillions of dollars due to unsound decisions based around the hyper-deregulation of the market?
Someone invested since 1979 who wasn’t about to retire is probably OK, since the market is picking up under Obama (I still haven’t seen you praise him for that, hmm). But lots of people lost their shirts. I know I took a hit with a conservative portfolio, but luckily I’m not going to be retiring for at least another three decades myself.
But please, your prattle and whining amuses me to no end. Continue Jay Tea.
Right winger “Jay” has to go back 30 years (just less than half a lifetime), to show historical gains in the stock market.
Because if he was paying attention and not hard wired to right wing fictional nonsense he’d know that the damage done to “no load mutual fund[s]” under the disastrous Republican 2007 Great Recession just negated gains going back many, many years with little or no signs of recovery for at least a year or two and even then by only small increments that could take a decade or more to recover the losses under Republican President Bush.
Kiplinger’s “BEST” “no load mutual fund[s]” lost an average of between 30% to nearly 55% under Republican economic stewardship.
It’s not even about reality to right wingers anymore, it’s just an obsessive, destructive belief in fictions.
Well, these are the guys who argue Warren G. Harding was a better POTUS than Franklin Roosevelt.
Did you wingers try and stay awake for even one day of your high-school history classes? Just one?
Republican Economic Stewardship = HUGE NEGATIVE GAINS
From Kiplinger’s “BEST” “no load mutual fund[s]”:
1-YR RETURNS:
-30.43%
-54.82
-37.09
-25.14
-22.62
-31.27
-28.77
-16.49
-38.98
-44.73
-33.8
-32.39
-29.65
-29.53
-25.48
-26.09
THAT’S REPUBLICAN ECONOMIC LEADERSHIP: NEGATIVE NUMBERS.
And those should be reflecting the improvements under Democratic President Obama, take that out and Republican Bush’s economic numbers are worse.
I’m guessing that both “Jay” and “Gabriel McKee” were home-schooled.
Right winger “Gabriel McKee”: FDR “broke the two term tradition”
Seriously, were you home schooled?
FDR WON THE ELECTIONS.
Not having more than two terms was about as ‘traditional’ as not allowing women to vote (seriously, read the timing on those two Amendments).
AMENDMENT XXII February 27, 1951.
AMENDMENT XIX Ratified August 18, 1920.
Your reverence for “tradition” likely includes things I find offensive, but do tell, are you one of the “Originalists” that think the Original Constitution should hold sway?
Do you even know what that means?
YEP, putting people to work!
Oh wait! What about that 10% unemployment?
Fall back on the greatest economic recovery plan ever? Sounds good to me, but we’ll have to wait until the end of 2010 to see how effective Obama has been at counter-acting the Bush Recession.
The “greatest economic recovery plan ever” took 13 years to work. We’ll be waiting a *LOT* longer than 2010.
“JoeQueen’s” back! Still confused about, well, everything.
Under Republican President Hoover, unemployment was at, what, 24%, 25%?
Right wing economic policies = Depressions and Recessions.
From the Republican President’s unemployment rate of 25%
to 10%
means that even the confused “JoeQueen” credits FDR with lowering unemployment by 60%.
The right wing’s economic system is a cult-system that has to deny reality and work with fantasy numbers.
Real numbers support left-wing economic policies for sustained, even growth that’s broadly shared.
But that would require some familiarity with facts and mathematical concepts that is clearly beyond the average right winger.
News Reference: You’re crazier than Keith Olbermann but I love ya.
Right wing economic fictions created both the Republican Great Depression of the 1930′s AND the Republican 2007 Great Recession.
And right wingers think they deserve to continue to destroy the economy….
THE STUPID, IT BURNS!!!
FDR did not get us out of the Great Depression. WW II did…When you have tons of people joining the military that does a lot for the unemployment rate dontcha think?
Government, including the administrations of Hoover and FDR prolonged the Great Depression…
What got US out of the Great Depression was a massive infusion of government money that stimulated the economy.
Period.
The biggest mistakes FDR made were in trying to prematurely balance the budget and in not initially spending enough money over a long enough period.
(Obama appears poised to make the same mistake and the Republicans are pushing him into it as well, the initial stimulus packages were too small, misdirected toward banks instead of employing people, and included NON-stimulative ‘tax-cuts’ that didn’t get ‘spent’ and instead were generally ‘saved’, a condition called the “Paradox of Thrift”).
World War II was an enforced, sustained MASSIVE GOVERNMENT EXPENDITURE.
A bit ignorant, but whatever helps you sleep better at night. I don’t have the energy to refute your sillyness at the moment.
Ha. “bit ignorant” trumps “pig ignorant”.
I don’t have the energy to refute your sillyness at the moment.
What kiddies who grow up on a steady diet of Rush & Co. turn out like, unable to engage in an argument beyond recitation.
“the government has never created a job”-Mike Steele
You support your silly argument by equating the here and now with the Hoover presidency. And you wonder why we sit here laughing at you.
What’s next? You going to throw toys from your pram?
“Gabriel McKee”: “When you have tons of people joining the military that does a lot for the unemployment rate dontcha think?”
Yes, when government spends massive amounts of money to employ people the unemployment rate goes down.
And those employed receive money which they spend.
And thus an economy can be “stimulated” and even resuscitated from whatever state of near death right wing economic fallacies put it in.
And if that massive government employment program does something constructive, like building Republican Communist Eisenhower’s National Highway System (using some of the highest progressive tax rates in America’s history) there can be economic benefits (a Return On Investment [R.O.I.]) for decades.
Or at least until a Republican Hollywood entertainer like Ronald Reagan comes in and begins a new right wing “tradition” of neglecting public infrastructure, as the right wing has done for most of the last 30 years as America’s infrastructure crumbles around US.
I don’t have the energy to refute your sillyness at the moment.
Oh my, Oliver. You linked to an article, quoted a portion of it, and your argument consists of two phrases “OMG, teh socialism” and “This is happening all around the country.”
Whatever a “Rush & Co. recitation” is, does that qualify as a one-upping of it?
And surely you don’t think the pure silliness and obvious tactic of arguing by verbosity that News Reference relies on here qualifies as serious argument, do you? With multiple scare quotes around names, descriptives like “Republican Hollywood entertainer Ronald Reagan” and “Republican Communist Eisenhower” and his daily plagiaristic lifting from Paul Krugman without attribution, anyone taking the time to counter his ‘argument’ for more than ten minutes has far too much time on his hands, because he just keeps coming back with more of the same crap. How can any sane person blame Gabriel McKee for leaving Newsie to his own delusions in which he’s still fighting battles from 80-100 years ago about which party is better for the economy?
Really, Oliver. What gives with that remark?
FDR did not get us out of the Great Depression. WW II did…When you have tons of people joining the military that does a lot for the unemployment rate dontcha think?
Who would of thought after an economy devastated by wealthy speculators that it would take a mediocre three-term socialist overlord who pumped gubnit’ cash into to both the industrial and public sectors to turn things around?
Anonymous Democratic Congressional source:
“We appreciate the rhetoric and his willingness to ratchet up the pressure but what most Democrats on the Hill are looking for is for the president to weigh in and make decisions on outstanding issues. Instead of sending out his people and saying the president isn’t ruling anything out, members would like a little bit of clarity on what he would support – especially on how to pay for his health reform bill,”
Now possibly that one-ups ‘Rush & Co. recitations’.
Except this will be today’s Rush & Co. recitation of the day, and I think I much prefer it to Newsie’s ad infinitum argumentum verbosium:
Charles Grassley: “Let’s just lay everything on the table,”… “A Democrat congressman last week told me after a conversation with the president that the president had trouble in the House of Representatives, and it wasn’t going to pass if there weren’t some changes made … and the president says,
‘You’re going to destroy my presidency.’
Waaaah!
Violent right wing coward “Dennis” articulates why he and many of his fellow right winger’s don’t believe in anything, have no loyalty to America, and only thinks of themselves: “Waaaah!”
Right wingers like “Dennis” have the average emotional and intellectual maturity level of two year olds.
The same right wingers who put our economy in the toilet are obstructing serious efforts to get the economy back on track.
How can anyone take these people seriously?
Newsie, your own party members are ashamed of this proposed legislation, what little they know of it.
The slight amount of credibility you possess with other liberals here that you get mainly from constantly sucking up to them, by basic mathematics you’d be multiplying it exponentially by directing your verbosity towards those highly skeptical Dems in Congress. Instead, you attempt to argue this battle by invoking Herbert Hoover.
Mook.
By the way, “Dennis”, don’t you still owe that blogger you threatened, and then you ran from like a coward, a plane ticket?
Or are you still cowering under your bed, “Dennis”, too frightened to make good on your promises?
…right wing coward “Dennis”…
Whoa there! Dennis is an extremely tuff anonymous blog commenter. Way tuff. Ultra way tuff. Why he even hinted that he would knock out Jaim, Dennis is so tuff. Cowards don’t act like that. They hide behind facts, statistics, and reality.
Oliver asked us to cool it, Newsie. You no doubt think you are exempt, but since you ask, I’m still good. You naturally side with Jaim, but the offer I extended didn’t stretch to infinity, or at his convenience. Once he declares that he’ll lift my offer and then tries to dictate his own terms at his liking, that can and does nullify the original offer, if I so choose. I can honor the original offer on my terms, which is now instead of six months from now, but he had no interest in doing so.
Since neither you nor he has any kind of real world experience to speak of instead of what you read on the internet or out of a textbook, you’d know that. As a real world example, if young Jaim, upon not being able to find gainful employment in the US despite a Bush economy of 4.5% unemployment, seeks and is extended an offer from a Korean school superintendent to teach in his school there, and young Jaim thereupon says in effect,
‘Fine, sir, I was going to be in Korea in six months after I finish my vacation sitting by the beach. I’ll start then, just send me the money now and that’d be great.’,
then the school superintendent has every right to tell young Jaim to go pound American salt, and that the original offer he tried to suit to his wishes was no longer valid, since young Jaim just displayed what a terrible hire he as the superintendent of schools might’ve just made. The one doing the weaseling in this case, as he did in mine, was Jaim.
Nice counterargument though, Newsie. Impressive. Especially after OW gave you the thumbs up for supposedly taking down the Rushian recitation by your vast array of irrelevant references to Hoover and Coolidge.
News Reference: You’re crazier than Keith Olbermann but I love ya.
Gabe, that’s so far the only thing I agree with you about.
FDR did not get us out of the Great Depression. WW II did…When you have tons of people joining the military that does a lot for the unemployment rate dontcha think?
You don’t consider the Army a form of government spending?
Dangling Tag Syndrome again.
(/I)
Gabe, that’s so far the only thing I agree with you about.
You support your silly argument by equating the here and now with the Hoover presidency. And you wonder why we sit here laughing at you.
Because the similarities are striking.
but you wonder why we’re laughing at you whenever you dig up Reagan’s corpse.
Jesus H chill with the personal attacks. News Reference, you’re this close to getting kicked out of here. Chill out.
And if that massive government employment program does something constructive, like building Republican Communist Eisenhower’s National Highway System (using some of the highest progressive tax rates in America’s history)
I wouldn’t go so far as to call Eisenhower a communist, but it is funny how Republicks always step right over the 90% tax rate of that administration. And if it weren’t for the newly implemented 22nd amendment, Eisenhower probably would have gotten a third term.
he’s still fighting battles from 80-100 years ago about which party is better for the economy?
I’ll agree with that. That argument has been settled for years.
Who would of thought…
Who would have thought.
Sorry, pet peeve.
I can honor the original offer on my terms, which is now instead of six months from now, but he had no interest in doing so.
Or you could both man up and forget about it. Bygones.
Oliver, it’s your living room, and I certainly step on enough toes to understand where you’re coming from.
But your blog is riddled with folk like “Dennis” who’s threatened another blogger, “Frank DiSalle” who just made another violent threat to another blogger, amongst a whole slew of right wingers that use your blog as their personal piss pot.
Just seems like an odd place to put your marker.
But chill it is.
You’re arguing Wall Street didn’t lose trillions of dollars due to unsound decisions based around the hyper-deregulation of the market?
Wall Street lost because of market conditions. This happens. I’m going to throw down the gauntlet here. You are constantly calling others stupid, dumb, etc. You make claims. All the time. You’re making a claim now. PROVE IT. IN YOUR OWN WORDS.
If you are so smart, and everybody else is so dumb, you’ll be able to easily explain in a few paragraphs to the dumb ones how “hyper-deregulation” led to Wall Street getting their asses kicked over the last couple of years.
Go for it. If you do, great. If you come back with some bullshit about how you don’t have to do anything or how I have to prove that it WASN’T because of deregulation (proving a negative is a logical fallacy and challenging somebody to prove a negative is chickenshit) or some other nonsense, then I will safely assume you are merely talking out of your ideological ass and have no idea what you’re talking about.
Ready? Go.
1-YR RETURNS:
Yes, and everybody that invests in mutual funds does so for one year. Good grief.
“if young Jaim, upon not being able to find gainful employment in the US despite a Bush economy of 4.5% unemployment”
Indeed -An 8 year Bush economy that could not produce not one net job.
Yes, and everybody that invests in mutual funds does so for one year. Good grief.
I’ve had mine for 9 years now. Lost more than half of it’s value last year.
“FDR did not get us out of the Great Depression. WW II did”
FDR was president until almost the end of WWII. Second, how was WWII anything more than a massive stimulus package? And how can you possibly say government can’t create jobs when in fact, it creates jobs all the time? The military ca. 1941-1945 is a prime example of this.
“If you are so smart, and everybody else is so dumb, you’ll be able to easily explain in a few paragraphs to the dumb ones how “hyper-deregulation” led to Wall Street getting their asses kicked over the last couple of years.”
A few paragraphs? How about three letters: CDO’s.
Wall Street writ large was taking bad debt and re-packaging it as medium and/or “good” debt. This should never have been allowed to happen in the first place, since it was basically a Ponzi Scheme (first people in would do fine, then every re-sell after that got riskier and riskier for the investor).
Way to swing and miss yet again, Jay Tea.
So here’s where you’ll try to blame poor people for all the bad mortgages out there, and I agree that this was part of the problem. But for lending agencies to offer up bad mortgages then re-package the bad debt and off-load it onto someone else makes them fully accountable for the melt-down.
Dennis the punk-bitch writes: “As a real world example, if young Jaim, upon not being able to find gainful employment in the US despite a Bush economy of 4.5% unemployment, seeks and is extended an offer from a Korean school superintendent to teach in his school there, and young Jaim thereupon says in effect,”
Dude, you need to cut it out you little fuckwit. As long as you keep doing this, I keep reminding people that you backed out of an offer to buy me a round-trip ticket home. You are a loser, a coward, a shitty husband, and a terrible father Dennis. Me? I’ve got a career going, something you either don’t have or are far too ashamed of to tell us what you actually do.
Fuck. Off. As I’ve said a hundred times, I had a job in America, I have a better one here with better prospects, and it’s more fulfilling to boot. And this bothers you to no end, but guess what? I don’t fucking care you little sniveling bitch. Knock it off.
Jay Tea’s argument is basically that the Bush Recession was a simple market correction to the tune of about 40% to 60% losses.
Jay Tea is a moron.
You know, I think we should do away with this private sector deal, and have an economy entirely based upon government spending!! I bet we’d have a killer economy then!
The government just hasn’t been spending enough money. That’s definately what’s wrong with the economy.
“You know, I think we should do away with this private sector deal, and have an economy entirely based upon government spending!”
Nobody suggested that. But have fun with your strawmen.