Wynn Resorts CEO Blasts Obama

[denner]

Quote from Petsamo:

It wasn't just Jews who supported him, it was a bunch of easily influenced independents.

Basically every President for the past fifty years has been elected as a vote AGAINST his predecessor. Even in recent history, Obama sways independents as a "vote against Bush"; Bush "wins" the election as a vote against the Clinton admin's dirty dealings; Clinton wins the election during the 1992 recession and Bush Sr's failings; Reagan/Carter; Carter/Nixon-Ford; Nixon/LBJ, etc, etc...

It's been failed leadership for a few generations now.

 

[Big Kahuna]

You've hit the nail on the head! I agree 100%. There is no man who is willing to fix this mess or able to fix this mess or politically supported to fix this mess.

Quote from denner:

Basically every President for the past fifty years has been elected as a vote AGAINST his predecessor. Even in recent history, Obama sways independents as a "vote against Bush"; Bush "wins" the election as a vote against the Clinton admin's dirty dealings; Clinton wins the election during the 1992 recession and Bush Sr's failings; Reagan/Carter; Carter/Nixon-Ford; Nixon/LBJ, etc, etc...

It's been failed leadership for a few generations now.

 

[Petsamo]

Quote from denner:
Basically every President for the past fifty years has been elected as a vote AGAINST his predecessor.

Everyone has excuses, rationalizing bad decisions. Voting for Obama, regardless of the reason, was one hell of a bad decision. The left and right knew what Obama was made of. The independents allowed themselves to get blindsided by the leftist media.

 

[Messi007]

Quote from huh:

How many jobs did the bush administration with the tax cuts create?

If Im not mistaken, between 2003 and 2007 the Unemployment was about 4,5%. One of the lowest in the US ever. But im not so sure, cause I was living in Europe at the time.

 

[DT-waw]

oh my lord. americans living in capitalist country for over 200 yrs think that presidents create jobs?

with that kind of intelligence its easy to understand why americans lose jobs.

 

[huh]

Quote from Messi007:

If Im not mistaken, between 2003 and 2007 the Unemployment was about 4,5%. One of the lowest in the US ever. But im not so sure, cause I was living in Europe at the time.

Yes unemployment WAS 4.5% but you have to remember that at the time we were in a massive credit bubble that generated millions of jobs that should not have existed. Consumer spending was roaring fueled with money the consumer didn't really have (ie credit cards, Helocs, etc). There were so many jobs created around the inflated housing market from construction workers to new financial jobs that were created not by the bush tax cuts or bush policies but by the low interest rate env that Greenspan was running. Once that bubble popped and the jobs that should never have existed are gone with it and here we are at 9%+.

So I would contend that the 4.5% unemployment was artifically low because of Greenspan and the fed rather than bush....

And saddest of all is that even with 4.5% unemployment in the US this dumb fuck US gov't still managed to run a deficit every year....just pathetic.

 

[denner]

Quote from huh:

Yes unemployment WAS 4.5% but you have to remember that at the time we were in a massive credit bubble that generated millions of jobs that should not have existed. Consumer spending was roaring fueled with money the consumer didn't really have (ie credit cards, Helocs, etc). There were so many jobs created around the inflated housing market from construction workers to new financial jobs that were created not by the bush tax cuts or bush policies but by the low interest rate env that Greenspan was running. Once that bubble popped and the jobs that should never have existed are gone with it and here we are at 9%+.

So I would contend that the 4.5% unemployment was artifically low because of Greenspan and the fed rather than bush....

And saddest of all is that even with 4.5% unemployment in the US this dumb fuck US gov't still managed to run a deficit every year....just pathetic.

Exactly right. The housing bubble was engineered to offset the "potentially deflationary effects" of the tech crash. By 2001-02, we were already well into the offshoring of jobs and the lack of purchasing power for the consumer. The housing bubble was another attempt to inflate household wealth for boomers nearing retirement years, spur consumption and give the banks carte blanche in fueling lending, creating new debt, etc, etc...It was always envisioned as a temporary stop gap measure (even though none of them would admit to it). Just more of the manage for today, forget about next year mentality we've been living thru over the past decade or so.

 

[huh]

Quote from denner:

Exactly right. The housing bubble was engineered to offset the "potentially deflationary effects" of the tech crash. By 2001-02, we were already well into the offshoring of jobs and the lack of purchasing power for the consumer. The housing bubble was another attempt to inflate household wealth for boomers nearing retirement years, spur consumption and give the banks carte blanche in fueling lending, creating new debt, etc, etc...It was always envisioned as a temporary stop gap measure (even though none of them would admit to it). Just more of the manage for today, forget about next year mentality we've been living thru over the past decade or so.

Yup basically the way I see it, we never actually got out of the 2001 recession because the natural resetting of the economy was artifically interrupted by Greenspan and now the recession is even worse now than it would have been if Greenspan hadn't set off the housing bubble.

Seems to me when you outsource a million jobs out of the US the natural flow should be deflationary in the US and inflationary in the country where the jobs end up. At some point you should begin to reach some sort of equilibrium between cost of outsourcing the job to an inflationary env where wage pressure is going up and keeping the job in the US where wage pressure is decreasing. Of course if you allow this then that means the US corporations lose money in the US because consumer spending goes down which is what these outsourcing companies deserve as a consequence of their outsourcing.

But enter the dumb fuck US gov't who borrows and prints money to make up the revenue loss for these corporations and instead creates more inflation in the US. Now the US gov't has twisted outsourcing to where its creating inflation on both ends the US and Overseas, how the hell is the US worker supposed to be competative wage wise if the cost of living in the US keeps going up?????? But gee I guess I'll leave this to the "educated geniuses" like the Bernank because there is no inflation as long as you don't eat, drive, or rent a roof over your head...

 

[as678]

Quote from huh:

Yup basically the way I see it, we never actually got out of the 2001 recession because the natural resetting of the economy was artifically interrupted by Greenspan and now the recession is even worse now than it would have been if Greenspan hadn't set off the housing bubble.

The states have a history of poor economic policies don't they. Greenspan had his term and as long as the numbers looked good while he was in office - no harm done. As soon as he is not in office it's the next guy's problem.

 

[bone]

Quote from as678:

The states have a history of poor economic policies don't they.

I recall seeing something where something like 47 States have balanced budget amendments. Hell, Indiana has a $1.5B surplus and has authorized performance review-based bonuses for state employees.