Article

2009-12-04 Economy

Bernanke: US jobless rate to remain high

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by Fred 2009-12-04 00:00|| || Front Page|| [2 views ] Top

#1 Aren't you glad Obama spent 787 BILLION dollars to prevent this. Oh, well, guess he'll have to spend ANOTHER 300 BILLION dollars now.

Posted by DMFD 2009-12-04 07:00|| 2009-12-04 07:00|| Front Page Top

#2 Simple, when small business start hiring again, unemployment will drop. Small business is not going to hire with Obamacare and impacts of Cap & Trade hammering their bottom lines and the 'rescued' big banks not extending credit. The Fed certainly protected their brethren in the New York money markets, but didn't address the basics about credit to the small guy.

Posted by Procopius2k 2009-12-04 08:10|| 2009-12-04 08:10|| Front Page Top

#3 Exactly correct P2K. The other hammer hanging over small business is the pending "Health Care" legislation.

Posted by Besoeker 2009-12-04 08:13|| 2009-12-04 08:13|| Front Page Top

#4 Max income tax rates going from 35% to 39.6% will also stimulate hiring. At least as many as the $3 trillion Federal debt added this year on top of the $9 trillion. And don't forget capital gains taxes going from 15% to 20%. I hear investors love a 33% haircut.

Posted by ed 2009-12-04 08:35|| 2009-12-04 08:35|| Front Page Top

#5 And don't forget capital gains taxes going from 15% to 20%. I hear investors love a 33% haircut.

Oh yes, lovely scheme indeed, 'capital gains.' You LOSE $ 100,000 on an investment, you can take $ 3K IRS write off per year. You MAKE $ 100,000 on investment(s)...you incur a 100% capital gain obligation. Lovely, lovely scheme.

Posted by Besoeker 2009-12-04 09:21|| 2009-12-04 09:21|| Front Page Top

#6 Since 1980, the only net job creation in the US has come from businesses less than 5 years old. Which is to say that the unemployment rate is probably not going to improve much until credit for small businesses and investment capital start to flow freely again. The 0ne administration seems to think this things just happen on their own but public policy matters here. Banks are not lending right now as they seek to cover their losses in the housing market and the explosion in government spending has virtually smothered investment. The looming tax increases do not help matters much, either. I suspect the unemployment situation will possibly worsen before it starts to improve, and that could be awhile.

Posted by eltoroverde 2009-12-04 09:41|| 2009-12-04 09:41|| Front Page Top

#7 The idea here is to intentionally impoverish as many Americans as possible. Poor people vote Democratic and the middle class tends to limit governmental power.

Posted by Iblis 2009-12-04 12:19|| 2009-12-04 12:19|| Front Page Top

23:23 trailing wife
23:16 trailing wife
23:12 trailing wife
23:08 Angleton9
22:25 USN, Ret.
21:59 Glenmore
21:57 Skunky Glins****
21:55 Mike N.
21:38 trailing wife
21:32 Penguin
21:31 trailing wife
20:56 Frank G
20:53 Frank G
20:39 lotp
20:32 trailing wife
20:28 lotp
20:09 phil_b
19:57 Pappy
19:56 JosephMendiola
19:49 JosephMendiola
19:40 JosephMendiola
19:36 JosephMendiola
19:32 JosephMendiola
19:28 Frank G