Jobs report, someone's estimation

[byu71]

was way off. After the ADP report this week I was hearing new jobs up around 100,000. Came in at 18,000.

Even President Obama must have thought they were coming in good. He had scheduled a news conference this morning to talk about the jobs report. The speech will have to be rewritten.

This time around, I trust the ADP number more than the government number. For some reason the government number doesn't pick up hiring in the some start up companies.

I sure hope there isn't a overreaction to this number and more stimulus money thrown down the toilet is a result.

[Uncle Ted]

Warren Buffett has big money riding on unemployment being below 8% for the election next year...

As investors anxiously await tomorrow’s report on how quickly or slowly the U.S. private sector is adding jobs, Buffett disclosed this morning that he has bet $1 that the U.S. unemployment rate – now at 9.1% — will dip well below 8% by the presidential election next year.

I wonder if Randolph and Mortimer also got in on this action...

[byu71]

Warren Buffett has big money riding on unemployment being below 8% for the election next year...



I wonder if Randolph and Mortimer also got in on this action...

As I watched Warren being interviewed on CNBC from some conference he was at in a famous resort in Idaho, I just wondered if the old feller isn't starting to lose it.

Again he got on the kick that he doesn't get taxed enough. His new blurb relating to his secretary is she pays more in SS tax than he does in capital gains. He added, when you add what she pays and the employee match.

For him to be right he has to add SS tax plus the medicare tax and even at that it is barely over the capital gains rate.

At least someone asked him if he thinks he doesn't pay enough in taxes, why doesn't he just give the money to the government instead of charities. After dodging the question or at least seeming not to understand such a simple question, he muttered something about wanting to control what the money was spent on.

No doubt he has been a genius investor over the long haul. However, IMHO, people pay way too much attention to him now days.

[Surfah]

I loved this quote by Reid after getting the jobs report:

Senate Majority Leader Harry Reid (D., Nev.) said the report shows the economy isn’t adding jobs at an “acceptable rate.” But he said the government has to reduce a deficit in a way that won’t dampen job creation. “That means taking a balanced approach in which millionaires and billionaires contribute to deficit reduction,” Mr. Reid said.

http://blogs.wsj.com/washwire/2011/0...ogle_news_blog

[Moliere]

Time for stimulus part deux or QE3?

Or maybe it's time to try something new?

[il Padrino Ute]

Time for stimulus part deux or QE3?

Or maybe it's time to try something new?

Like getting rid of this job killing administration in '12?

[Tim]

I loved this quote by Reid after getting the jobs report:


http://blogs.wsj.com/washwire/2011/0...ogle_news_blog

The theory behind not taxing the rich higher is that they'll use the money instead to create jobs and invest. Shouldn't we tax them, then, if they're not following through on their part of that bargain by hiring people and investing? All the people here who oppose taxing the rich a bit higher should be pissed at them and feel "used" right now. Somehow I'm sure they'll continue to defend the rich regardless of the reality of our economic situation, though.

[il Padrino Ute]

The theory behind not taxing the rich higher is that they'll use the money instead to create jobs and invest. Shouldn't we tax them, then, if they're not following through on their part of that bargain by hiring people and investing? All the people here who oppose taxing the rich a bit higher should be pissed at them and feel "used" right now. Somehow I'm sure they'll continue to defend the rich regardless of the reality of our economic situation, though.

Why punish them for doing what they want with their own money? Besides, I'd say that the reason they aren't hiring is because this administration has done nothing to make the rich comfortable in investing their money or to create jobs.

I don't feel used at all. If I had that kind of money, I wouldn't do anything until Obama and Reid are no longer in power.

[Borderline Divine]

The theory behind not taxing the rich higher is that they'll use the money instead to create jobs and invest. Shouldn't we tax them, then, if they're not following through on their part of that bargain by hiring people and investing? All the people here who oppose taxing the rich a bit higher should be pissed at them and feel "used" right now. Somehow I'm sure they'll continue to defend the rich regardless of the reality of our economic situation, though.

As a potential lottery winner I fully support tax cuts for the rich. And after that lotto windfall comes, I'll do whatever I wish with the money including park it offshore. And just because I'm getting huge concessions under the assumption that I am now a "job creator" I'm under no legal or moral obligation whatsoever to hire so much as a gardner.

God I love America.

[il Padrino Ute]

As a potential lottery winner I fully support tax cuts for the rich. And after that lotto windfall comes, I'll do whatever I wish with the money including park it offshore. And just because I'm getting huge concessions under the assumption that I am now a "job creator" I'm under no legal or moral obligation whatsoever to hire so much as a gardner.

God I love America.

You can't hide your sarcasm. We all know you believe in distribution of wealth.

[Borderline Divine]

You can't hide your sarcasm. We all know you believe in distribution of wealth.

Only because I don't have any. It all depends on where you sit and where you stand my friend.

[Uncle Ted]

Only because I don't have any. It all depends on where you sit and where you stand my friend.

So I take it you liked the bush tax cuts?

[Borderline Divine]

Yeah, W. was no friend to the wealthy. Although I appreciated the hell out of that $100 he sent me in 2003.

[cowboy]

The theory behind not taxing the rich higher is that they'll use the money instead to create jobs and invest. Shouldn't we tax them, then, if they're not following through on their part of that bargain by hiring people and investing? All the people here who oppose taxing the rich a bit higher should be pissed at them and feel "used" right now. Somehow I'm sure they'll continue to defend the rich regardless of the reality of our economic situation, though.

What law obligates people to create jobs and invest their money? It's their money, not the government's, and I'm not aware of any legislation that grants the government authority to take people's money away if they don't contribute to the economy. Depending on your definition of 'rich' these folks already shoulder 70%-to 90% of the tax burden, and I wonder what justifies making them bear more of it.

Also, don't think that the rich aren't investing their money. They're investing it somewhere. They may not be starting or expanding businesses, but they are investing it. Perhaps they'd invest it in business development and expansion if Obama would tone down his ant-business rhetoric and job-killing regulation.

[Paperback Writer]

Also, don't think that the rich aren't investing their money. They're investing it somewhere. They may not be starting or expanding businesses, but they are investing it. Perhaps they'd invest it in business development and expansion if Obama would tone down his ant-business rhetoric and job-killing regulation.

Well, they're not investing it in real estate...anymore. Without looking it up, I recall reading something that IPOs may start to pick up once again. That might be a start. I think that many of the rich have been "parking" their capital. Waiting for the business climate to improve. I somewhat agree that Obama isn't helping matters. IIRC, on the campaign trail Obama proposed favored tax treatment (tax breaks) on start-up investments. Perhaps that campaign promise got lost like so many others of past candidates. Or Obama realized that it would be another tax break for the rich. Perhaps Obama could get some traction with the spin that increased taxes on the rich are necessary but will give favored tax treatment for investment start-ups and similar investments. That might get some of the dormant investment capital off the sidelines and back into play. Just my speculation and ramblings....