On Joe Scab: "Corporation moving overseas because NO GROWTH in U.S."

[Atman]

Once again, Propaganda Joe catapults it through the roof. It's painfully obvious why an ex-Congressman was installed in that anchor chair...he will shamelessly advance any absurd claim the administration wants. Once again today he went on and on about the phenomenal economy, the lowest unemployment rate in decades, DOW at record levels, but here's the kicker; he also talked about the fantastic growth in the economy, over 4%, which certainly would be good if there appeared to be any truth to it.

GM announces the largest corporate loss ever, oil the highest in history, consumer credit drying up, horrible Christmas season forecast, foreclosure rates soaring, more layoffs coming, recession likely, but everything is great! "Why doesn't the GOP take/get any credit for this great economy?" they ask. "This shows the tax cuts worked! Why don't they talk about that?" Uh, Joe...you just did. Kinda like looking out the window into a driving rain storm and proclaiming it's beautiful and sunny.

Then Louis CK (who made this guy an economist?) inadvertently spills the beans during one of his caffeinated rants about corporate motivation. He said the economy is strong because of the global economy and that (here it comes) "the corporations know America is a NO-GROWTH economy" so they are doing business overseas, and that is what is keeping us afloat.

Huh? but Joe and Louis CK, just claimed that we had the best economic growth in years! Joe remains incredulous, but won't question anything. He won't wrestle with the ridiculous logic behind every segment of the economy taking a beating except CEO salaries, while BushCo continues to report fantastic numbers. No one seems to question it. As long as the extremely wealthy are still extremely wealthy, I guess that is all that counts for a strong economy in the U.S.

I know I've ranted about this before, and I will again. I just wish there was someplace to find an actual journalist on the tv anymore, someone who would actually ask "How can this be?" instead of just reading White House press releases.

:rant:

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[notadmblnd]

1. and there's no growth in the US

BECAUSE THEY'VE FIRED EVERYONE AND SENT THEIR JOBS OVERSEAS!

[hobbit709]

2. What needs to be done

Is keep the jobs here and outsource the CEO's.

[notadmblnd]

3. I can't fully express what needs to be done to the people running corporations today

but it involves seizing their assets, tar and feathering, assigning them a street corner in an urban area, and giving them a sign that says "will work for food"

[hobbit709]

5. You left out riding them out of town on a rail.

:rofl:

[notadmblnd]

7. well I did say I couldn't fully express it.

[Cassandra]

8. The US is, or was, a mature market...

and the greedy could see that the only way they could experience double digit profits was to cut costs and open markets elsewhere (how many consumer goods do we need vs. people who have nothing?). These "global capitalists" care nothing about this country, or they have deluded themselves that what's good for them is good for the country. At the point when they've driven our economy into a ditch, they may think we're worth investing in again, although they may wait until we're all in rags (made in China).

[Orsino]

4. Who is Louis CK?

I presume that Joe Scab is Mr. Scarborough.

[Atman]

6. AKA Jim Cramer

I think he does a bawdy stand-up routine on HBO in his off-time.

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Can you tell which is which?

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:sarcasm:

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[Orsino]

11. Ah. Separated at birth. n/t

[watercolors]

9. Lets send Joe overseas

Can't stand the impecile! I e-mail msnbc everday and ask them to remove him,

[whistle]

10. Where does a dead fish rot first?....

...answer: In the head.

Don't listen to the speculator gamblers who look only at short term gains and what they can loot and pillage from these companies. The problem goes way beyond the U.S. as the world's central bankers are now holding conference calls with each other every day on the credit collapse. It is obvious today that these so called business leaders, who are in fact nothing more than gamblers, hace lost all semblance of control of the hyperinflationary dollar crash underway.

- The price of gold in dollars leaped to $845;
- The price of oil in dollars passed $98, headed for $100
and quickly beyond, in all estimations;
- The dollar fell to nearly $2.11 to the British pound; to a 60-year low against the Canadian dollar; to below $1.47 to the euro; nearly to 113 yen/dollar; all of these are accelerating plunges;
- Wall Street financial interests were demanding Fed Chairman Ben Bernanke promise another interest rate cut, in Congressional testimony tomorrow--an hysterical demand given the hyperinflation already set off by central bank money-printing to save the banks;
- The New York Stock Exchange Dow-Jones index fell 360 points, and other indices by comparable degrees, as all financial and insurance stocks were plunging, some by 10-15%;
- Morgan Stanley, which had just reported a billion-dollar loss in leveraged buyouts which failed, discovered $3.7 billion in new losses in mortgage securities, joining virtually all big banks in the tank;
- Moody's Investors Service started cutting rates on on $33 billion of debt of the big banks' structured investment vehicles (SIVs), hitting 16 SIVs of Citigroup, British HSBC and Germany's WestLB.

Does this sound like they have any place to go?