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September 16, 2010 at 5:36 pm #596390
JiggersMemberSo you think you can afford to live in Hawai’i? Read on. Two of my closest kin had to file for bankruptcy as well as foreclose in Honolulu late last year. A $300,000 home here in W.S. is nothing(not being cocky). Their homes were well over $600k each, and that was on the cheaper end of the neighborhood.
article,
http://www.staradvertiser.com/news/20100916_Foreclosures_hit_all-time_high.html
September 16, 2010 at 6:33 pm #703684
JoBParticipantjiggers..
thank you for our daily dose of doom and gloom…
i am very sorry your family members lost their homes…
but an increase in foreclosures is not unexpected. those who follow such things expect it to get worse yet.
there is a whole new profit center to feed.. the foreclosure industry :(
September 16, 2010 at 7:14 pm #703685
CarsonParticipantI just looked at the 90 day forecast, rain every single day with dark nights….when will it end??
September 16, 2010 at 8:21 pm #703686
SmittyParticipantSeptember 16, 2010 at 8:24 pm #703687
CarsonParticipant11/6/2012?? Smitty gets a clue day?
September 16, 2010 at 11:08 pm #703688
SmittyParticipantNo, silly. That was sometime in October of 2008 when we realized Obama was going to win and starting laying people off as a result.
You ever see those charts that show job losses by month? He gets “credit” for job losses that happened between Oct-08 and Jan-09 in my book!
http://farm3.static.flickr.com/2649/3798369877_e4e81f8e8e.jpg
September 16, 2010 at 11:31 pm #703689
dobroParticipantYou remind me of those geniuses who blamed Obama for the stock market tanking after his victory in Nov. 08. When it came roaring back over 10,000…*crickets*.
September 16, 2010 at 11:33 pm #703690
DPMemberSmitty and Carson: Sometimes it’s hard for me to divine the points you’re trying to make through all the sarcasm.
Anyway, Smitty, what exactly do you think the graph you linked to shows? I believe you’re offering these stats as proof that Obama is exacerbating the recession, but to me, this inverted bell curve suggests that Obama is gradually pulling us out of slump that Bush got us into. (Take another look. Can you see the correlation there?)
Personally, I don’t believe there’s that strong of a correlation between presidents and employment levels, but even if I did believe in such a correlation, this graph shows that unemployment is coming down steadily under Obama. Is that what you wanted to us to take away from this?
—David
September 16, 2010 at 11:58 pm #703691
CarsonParticipantDP,
Come on, I know you are smart enough to not take anything Smitty says as even close to an actual factual. I might be sarcastic, but I don’t just make stuff up!!!
September 17, 2010 at 12:02 am #703692
JoBParticipantsmitty…
i did read this right, didn’t i?
“That was sometime in October of 2008 when we realized Obama was going to win and starting laying people off as a result.”
When WE realized Obama was going to win and started laying people off as a result…
so… who caused the layoffs?
Looks to me like the WE who started laying people off caused the layoffs… not Obama.. since the layoffs began before he took office.
September 17, 2010 at 12:12 am #703693
SmittyParticipantDP, you are correct. People tend to “draw the line” right down the middle of January (inauguration day) when assigning blame/credit.
I draw the line right before October because corporate America was factoring in an Obama victory at that point and started to make the necessary adjustments to off-set increased regulation, healthcare costs, taxes, etc.
I also agree that unemployment rates and the President is a weak correlation at best. Take the dot-com bubble for example. Those unemployment rates (not to mention tax receipts, high wages, etc)were strictly a result of timing, not policy – yet they are often used as the benchmark for justifying “Clinton tax policies”.
September 17, 2010 at 2:46 am #703694
DPMemberSmitty, I do not share the view of my colleague Carson to the effect that you are a inveterate fabricator. Moreover, I believe that you believe many employers were just making “necessary adjustments to off-set increased regulation, healthcare costs, taxes, etc.” in the months immediately after Obama won the presidency.
Be that as it may, do you realize how it sounds to an ordinary person when somebody makes claims like these?
Let’s imagine some boss actually doing the things you’re attributing to them . . .
Boss 1:
I had to lay people off when I found out that I might have to help pay for their health insurance three years from now.
Boss 2:
I hear Obama’s thinking about raising my taxes . . . Pearson! Gimpleman! Get over here! You’re fired!
I mean, that just doesn’t sound like a nice way to act. It reminds me of that old National Lampoon cover that showed a gun pointed at a dog’s head with the caption, “If you don’t buy this magazine, we’ll shoot this dog.”
If you’re a business owner and business takes a downturn because of the recession or whatever, then sure, lay people off if you have to. But to let people go simply because you might be hurt by some regulation or new tax that’s coming down the pike . . . Now that strikes me as mean and immoral. In fact, it looks more like blackmail than free enterprise.
I think this is an important point, because we’re seeing the same argument crop up in the 1098 debate, where some people opposed to 1098 are saying, “If you raise my taxes, I’m outta here,”—and justifying this in terms of all the job-creating investment opportunities they’ll be missing if their taxes are raised.
Does the “Defeat 1098” campaign really expect us to believe that all of Washington’s $200,000-a-year people are living in shacks and plowing every spare dollar of income back into their businesses?
My oh my! That’s quite a . . .

Â
(Stretch)
September 17, 2010 at 4:01 am #703695
SmittyParticipant“ordinary person” is the key.
I think I am one, and you think you are one.
Let the voters decide- we’ll talk in November.
September 17, 2010 at 4:04 am #703696
JoBParticipantSmitty…
so you made “necessary adjustments to off-set increased regulation, healthcare costs, taxes, etc” two months before he took office and a good six months to a year before any of the increased costs you talk about could possibly manifest themselves…
and you did that with immediate layoffs.
if you were talking about stock prices i might buy this.. but you are talking about business which supposedly acts and reacts to actual market conditions and costs…
what is wrong with this picture?
September 17, 2010 at 4:13 am #703697
SmittyParticipantCorrection, JoB,
Business reacts to *anticipated* market conditions and cost….if you react to “actual” you will probably lose.
September 17, 2010 at 5:03 am #703698
redblackParticipantyeah, it must really suck to have to run a business and adhere to laws and pay taxes.
it’s far better to advocate hamstringing government(s) to the point where one third of any federal budget is interest on money all of us owe to foreign countries to pad tax cuts for people who aren’t hiring anyway.
“supply side = fail.” there’s your bumper sticker.
is it any wonder that most of us could give a flying crap about what wall street wants or what is causing them histrionics this week? the middle class mostly employs itself – and the lower class – without any help from the top 2%. “market conditions” are really not part of our daily conversations.
and, as far as i know, no one is proposing taxes or regulations that affect the middle class. so what’s the problem with ensuring that we don’t pay usurious interest, or that big banks don’t hoard money for themselves instead of lending, or that exxon actually pays some taxes for a change?
as a matter of fact, democrats just passed small business relief with exactly two business-friendly republican votes.
somehow i have a feeling that you, smitty, won’t be affected one iota by proposed regulations or tax increases. ’cause if you were, you probably wouldn’t be hobnobbing on a neighborhood blog with the rest of us rabble. you’d be in broadmoor sipping scotch while seeking more effective tax shelters with your accountants.
September 17, 2010 at 4:41 pm #703699
JoBParticipantSmitty…
When you follow chicken little into shelter because the business sky is falling it is unwise to weaken the pillars of the shelter by firing the consumers who fuel your business…
just saying.
September 17, 2010 at 4:46 pm #703700
CarsonParticipantJoB,
Don’t forget, this is Smitty’s fantasy Fortune 500 Company. No real company would ever behave like that. It would be a classic MBA study much faster than it takes to actually turn around the economy like that all time classic, “New Coke” that every student studies and laughs at today.
September 17, 2010 at 4:59 pm #703701
SmittyParticipantWhat’s this “new coke” you speak of, and where can I find it?
Top half of the Fortune 500 actually – and moving up because of our fiscal responsibility!
Think GM vs Ford.
September 17, 2010 at 5:00 pm #703702
CarsonParticipantSmitty, you crack me up!! Let me know, I am always looking for a great short! (with my welfare check, of course)
September 17, 2010 at 5:01 pm #703703
JoBParticipantthe sky is falling
the sky is falling
if i just find the right place to stand and get myself a big enough bucket i can catch some of that sky and i’ll be rich …..
the sky is falling
the sky is falling
head for shelter or you’ll all be killed
September 17, 2010 at 6:16 pm #703704
SmittyParticipantCarson,
Don’t they give you guys debit cards now so you can’t waste it playing options? Maybe that’s “food stamps”. Either way – go to Target, they have some really good deals and a nice promotion involving hair-legged skinny chicks!
JoB,
We finally agree on something – although I am on to the next chant. “Canned food and guns, canned food and guns…..”.
September 17, 2010 at 6:29 pm #703705
CarsonParticipantSmitty,
I am not looking for options, just a straight up short. Any company that dumb is a sure bet.
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