Finding jobs in recession is needlessly hard.

[Dave_techie]

as recession is a function of a loss of faith in a financial system.

/tl;dr

I wanna job, and am bitching about it.

[cowboyangel]

I am a high end contractor. Some of my clients have been the rich and famous, like Nicholas Cage and Dianne Feinstein. Most of the other contractors I work with or know are at the same level. We are all out of work right now. This is pathetic.We can do something about it. I'm calling and writing my congressperson, who in my district is Lynn Woolsey. Tell your reps about what's going on. Ask them why the trillions in bailout money is not helping the working man and women. Demand action. There's a bunch of legislation going around that needs support now, like HR 888 (abolish the Federal Reserve) This is a private banking corporation that has no reserves and is not federal. Fed member banks, like Chase and Bof A were the recipients of the largest bailout dollars. What have they done to jump-start the economy? There's also HR 1207 to bring more oversight and accountability into the secret dealing of the fed. Call your Senator and urge passage of S.582 the interest rate reduction act. Many of us use credit card purchases for business, this would help. It caps credit card rates at 15%, 18% in some cases.

Demand that workers get bailed out, not the banks. This recent round of "Bank Stress Tests" is nauseating. THey need more money. Wow. Amazing. How about a worker stress test?

If all else fails join others and march in the streets of in your local town.
The press is continuing with laddy-da news coverage while American workers are crashing and burning.

[Elderberry]

I am a high end contractor. Some of my clients have been the rich and famous, like Nicholas Cage and Dianne Feinstein. Most of the other contractors I work with or know are at the same level. We are all out of work right now. This is pathetic.We can do something about it. I'm calling and writing my congressperson, who in my district is Lynn Woolsey. Tell your reps about what's going on. Ask them why the trillions in bailout money is not helping the working man and women. Demand action. There's a bunch of legislation going around that needs support now, like HR 888 (abolish the Federal Reserve) This is a private banking corporation that has no reserves and is not federal. Fed member banks, like Chase and Bof A were the recipients of the largest bailout dollars. What have they done to jump-start the economy? There's also HR 1207 to bring more oversight and accountability into the secret dealing of the fed. Call your Senator and urge passage of S.582 the interest rate reduction act. Many of us use credit card purchases for business, this would help. It caps credit card rates at 15%, 18% in some cases.

Demand that workers get bailed out, not the banks. This recent round of "Bank Stress Tests" is nauseating. THey need more money. Wow. Amazing. How about a worker stress test?

If all else fails join others and march in the streets of in your local town.
The press is continuing with laddy-da news coverage while American workers are crashing and burning.

So, considering that you are a high-end contractor, it would seem that you would benefit more if the government gave money to the banks to assure they are stable and have money to loan so that your high-end clients could more easily borrow money so they could again afford to hire you, no?

Helping the working man directly sounds good, but what assures jobs is enabling employers to hire him. Otherwise, it is not much more than social welfare; where money given to banks and certain failing businesses is more an investment to assure the working man can again have a job.

Just some thoughts.

JK

[ygmir]

"as we dance to the comm-u-nism tango"......................

[littleflower]

also, a lot of people work for those banks ... letting them fail would create more unemployment, not less.

and the government does help workers who were laid off ... it's called unemployment. this may not help contractors, but it does help a lot of people who are looking for jobs.

[Elderberry]

"as we dance to the comm-u-nism tango"......................

I thought it was the masochism tango!

I'm going to "Tango Tuesday's" at Balliamos Dance studio next week...does that count?

JK

[ygmir]

"as we dance to the comm-u-nism tango"......................

I thought it was the masochism tango!

I'm going to "Tango Tuesday's" at Balliamos Dance studio next week...does that count?

JK

I do love Proffesor tom lehrer............

[gaminwench]

yea! LEHRER...wish he were writing NOW...Oh! the material he'd have to work with...

[Dave_techie]

B of A and chase are also getting more money as per a federal reserve stress test.

the government SHOULDN'T be giving the banks money, and shouldn't be giving it directly to people, if anything there should be job creation grants and tax breaks, create a job in america that makes 25,000 a year and more, get x money in tax breaks and grant funds.


it's liberal, it supports business OMG! what is that hideous amalgamation!

[cowboyangel]

I am a high end contractor. Some of my clients have been the rich and famous, like Nicholas Cage and Dianne Feinstein. Most of the other contractors I work with or know are at the same level. We are all out of work right now. This is pathetic.We can do something about it. I'm calling and writing my congressperson, who in my district is Lynn Woolsey. Tell your reps about what's going on. Ask them why the trillions in bailout money is not helping the working man and women. Demand action. There's a bunch of legislation going around that needs support now, like HR 888 (abolish the Federal Reserve) This is a private banking corporation that has no reserves and is not federal. Fed member banks, like Chase and Bof A were the recipients of the largest bailout dollars. What have they done to jump-start the economy? There's also HR 1207 to bring more oversight and accountability into the secret dealing of the fed. Call your Senator and urge passage of S.582 the interest rate reduction act. Many of us use credit card purchases for business, this would help. It caps credit card rates at 15%, 18% in some cases.

Demand that workers get bailed out, not the banks. This recent round of "Bank Stress Tests" is nauseating. THey need more money. Wow. Amazing. How about a worker stress test?

If all else fails join others and march in the streets of in your local town.
The press is continuing with laddy-da news coverage while American workers are crashing and burning.

So, considering that you are a high-end contractor, it would seem that you would benefit more if the government gave money to the banks to assure they are stable and have money to loan so that your high-end clients could more easily borrow money so they could again afford to hire you, no?

Helping the working man directly sounds good, but what assures jobs is enabling employers to hire him. Otherwise, it is not much more than social welfare; where money given to banks and certain failing businesses is more an investment to assure the working man can again have a job.

Just some thoughts.

JK

This is nutty reasoning JK. The banks are basically insolvent with by some estimates up to 6 trillion dollars in toxic assets, derivatives, call em what you want. The bailout money is "our money" going into a system that is trying to stabilize because of these bad assets. It's your friends the dems and the republicans who helped engineer the removal of what regulation existed for thsi corrupt industry. Why not give direct funds to th epeople in the form of meaningful tax breaks? We would pump it back into the economy faster than the banks are my friend.


Here's a blog post I just saw: the guy uses the trem "malinvestments" for
derivatives.

The malinvestments brought about by the Federal Reserve's monetary policy over the past eight years or so are massive in scope, rivaling the malinvestments that brought about the Great Depression, which means the current economic downturn has only just begun.

Here's the really bad news though. Only until those malinvestments are allowed to clear the market will investors begin to make appreciable loans. Until then, money wii naturally be tight, for investors will not lend when future prices (for capital, resources. labor, etc.) can't be calculated correctly, and the only way future prices can be calculated correctly is for the malinvestments to clear the market (the current pricing structure for capital, resources, labor, etc. is also based on those existing malinvestments).

Get ready for Great Depression II.

Dean Jackson/Editor-in-Chief DNotice.org
Washington, DC


What you are failing to see, is that there's a spiral effect going on, that includes the rest of the worlds countries.

The kind of financial "change" needed is way beyond your hero of "change " to effect. His false promises will come crashing down soon enough. Wait and see.

I ain't gonna sit around, though. Letter writing, demonstrating, blogging,
Talking, helping friends. We can make a difference, not the guy in the white house. The banks own him. Sorry. Dream on pal.

[Simon of the Playa]

just do what i did.


start your own little gang, and rob banks.


give some away to those people in need, if you wanna do the whole robin hood thing.


Myself, i like stealing from J.P and the House of Morgan, because these motherfuckers have been stealing from you for generations.

fair is fair.

[ygmir]

just do what i did.


start your own little gang, and rob banks.


give some away to those people in need, if you wanna do the whole robin hood thing.


Myself, i like stealing from J.P and the House of Morgan, because these motherfuckers have been stealing from you for generations.

fair is fair.

yeah, but,
who plays "Clyde"?................

[ygmir]

Demand that workers get bailed out, not the banks. This recent round of "Bank Stress Tests" is nauseating. THey need more money. Wow. Amazing. How about a worker stress test?

If all else fails join others and march in the streets of in your local town.
The press is continuing with laddy-da news coverage while American workers are crashing and burning.

This is nutty reasoning JK. The banks are basically insolvent with by some estimates up to 6 trillion dollars in toxic assets, derivatives, call em what you want. The bailout money is "our money" going into a system that is trying to stabilize because of these bad assets. It's your friends the dems and the republicans who helped engineer the removal of what regulation existed for thsi corrupt industry. Why not give direct funds to th epeople in the form of meaningful tax breaks? We would pump it back into the economy faster than the banks are my friend.




The kind of financial "change" needed is way beyond your hero of "change " to effect. His false promises will come crashing down soon enough. Wait and see.

I ain't gonna sit around, though. Letter writing, demonstrating, blogging,
Talking, helping friends. We can make a difference, not the guy in the white house. The banks own him. Sorry. Dream on pal.

So often CA, I find myself agreeing with you........or not...........hahaha

I agree with this.
I don't like the gov. giving money they don't have, and, worse yet, are borrowing from our kids.

That said,
If they are going to give it away, I agree in giving it directly to the "citizens"..........whether a large tax break, or, direct check. I'd go for the direct check..........I think that would stimulate the economy fastest and best.........

[can't sit still]

YGMIR, keep in mind that GOV is not giving money. Most of the money is coming from the FED. Congress has no control over the FED. BUT, after the FED buys government debt, it is automatically laid on the back of the taxpayer. We and congress have no say-so in the funding but, we have to pay it back.
We all need to be realistic about the future that we face. The job market will never be the same. Those jobs that went to the maquilladoras and the Pearl River Basin and Delhi... are not going to come back.
Here's some numbers to think about;

"At the peak, the U.S.A. had net borrowing of some $2 billion per day (trade deficit/365)."
"But now, take America's anticipated budget deficit and divide it by 365. You get a figure of nearly $6 billion per day"
Nobody has the bucks or the motivation to cover all these deficits. The FED is producing about $ 90 billion a month of money [debt] I don't really see them doubling this number. You must also keep in mind that we have an enormous debt to roll over.

China has already headed for the exits. China and OPEC are redeeming a lot of US debt. China is buying tangibles. Saudi is covering deficits resulting from the low oil price
China is complaining about our money printing already. If we print too much, they could short treasuries and then dump them.
China needs a lot of money to cover their deficits anyway. They could just spend their dollars and not worry about losing them to inflation. China claims that they are still growing at 8.9 %. Funny thing is that their consumption of Diesel and electricity is down about 9 %. They're crashing badly but, won't admit it;
"at least 67,000 factories overall closed in the last six months of 2008. With another 60,000 factories in the Wen Zhou Province alone about to shut down."

The US has 14 million empty houses and is only utilizing 67 % of it's industrial capacity. I don't believe that the job picture will improve until there is a renewal of demand.
Watch for the opening of new Starbucks shops

[mdmf007]

as recession is a function of a loss of faith in a financial system.

/tl;dr

I wanna job, and am bitching about it.

Rscessions and Depressions are the inevitable side effect of a free market. It is impossible for markets to be booming and show growth year, after year - it is just not sustainable.

An occasional resetting is necessary to bring thing back into perspective.

[DVD Burner]

I love doing High-end contracting with the high profiles.



hate to say it but I love facebook too.

It pays goooood!

[Apollonaris Zeus]

2 Banks Cited in Stress Tests Find Ready Investors


Published: May 8, 2009

Yuri Gripas/Reuters
Treasury Secretary Timothy Geithner indicated the administration would stand behind GMAC, which needs to raise capital.

Room for Debate: Grading the Banks’ Stress Test (May 6, 2009) A day after the bank stress tests were released, two major institutions, Wells Fargo and Morgan Stanley, handily raised billions of dollars in the capital markets on Friday to satisfy new federal demands for more capital. A third, Bank of America, hastily laid out plans to sell billions of dollars in new stock.

The speed and ease with which the banks swung into action, combined with a surge in financial shares, was hailed as a sign that confidence was returning to the financial industry. The sales seemed to put to rest questions about whether big banks would be able to lure private investors, rather than have to turn to the government again.

Before the results were made public, many of the larger banks successfully pushed the government to minimize the capital they needed to raise.

While the results of the tests on 19 major banks, released by the administration on Thursday, were far more positive than many had expected, they nevertheless created an immediate urgency for 10 banks to raise new capital. Federal regulators ordered them to raise a combined $75 billion to buffer their potential losses.

With some off to such a rapid start — Goldman Sachs raised $5 billion before the stress test results were announced — the race is now on among the most robust to repay the government money they received last fall and so escape from government control.

If cowboyangel is correct, though I find the toxic asset value of 6 trillion higher then the levels I've read- then again we did have a acounting change. It seems that investors see a great value here since those toxic assets are actually at bargan prices and worth trillions more. The foreclosure properties are being swept up in the better neighborhoods.

So I don't agree with the doom and gloom outlook posted here. The stock market hit its bottom as I predicted and now we're above the 8400 ceiling mark that many investors didn't want to invent if it when above, but this good news in several indicators is just cementing that the economy is not going to get worse.

Obama's stimulus plan in just kicking in and already working here in NY/NJ. Once this Flu scare is over, I see the economy agressively recovering.

Obama has countered the banks want to raise cash though credit card interest fee and all other increase in penalties such as Late, overdraft and missed payments. He wants to change the bankruptcy rules on student loans and give out grants- something that the republicans since Raygun have fought against! Recently, the Democratically controlled congress has passed the Consumer Credit Rights Bill that will go into effect next year. The Republicans have fought this for over 8 years!

Read the Fact sheet:
http://www.barackobama.com/pdf/issues/C ... ctSheet.pd

Here the banks are voicing their opposition:
http://www.financialaidfinder.com/obama ... -plan.html

Give him time cowboyAngel. The banks don't own him, he owns the banks!

AIIZ