Does Anyone feel like Bailing

[classicman]

Recession Ended in June 2009

The National Bureau of Economic Research, the arbiter of the start and end dates of a recession, determined that the recession that began in December 2007 ended in June 2009.
The business-cycle dating committee met by phone on Sunday and came to the determination. “In determining that a trough occurred in June 2009, the committee did not conclude that economic conditions since that month have been favorable or that the economy has returned to operating at normal capacity.
The decision by the NBER means that any future downturn in the economy would be considered a new recession and not a continuation of the recession that began in 2007.

from WSJ

Does their decision to call any future downturn a "new" recession really mean anything? I can see where the GOP would like that politically, but it seems wrong to me. With the current unemployment rate and the housing market still extremely volatile, it would seem logical that it would be related instead of new.

[Happy Monkey]

The GOP may like to be able to blame future downturns on Obama, but they wouldn't like the idea that the last one ended under Obama.

[TheMercenary]

Originally Posted by Happy Monkey

The GOP may like to be able to blame future downturns on Obama, but they wouldn't like the idea that the last one ended under Obama.

I have heard this but you and I know that it was much more complicated than that. Bills passed by Bush, Congress dominated by the Dems since 2007, and yet they all continue to fail the electorate. There is no middle ground in this country anymore, and I don't see any in the immediate future.

[Spexxvet]

Originally Posted by TheMercenary

I have heard this but you and I know that it was much more complicated than that. Bills passed by Bush, Congress dominated by the Dems since 2007, and yet they all continue to fail the electorate. There is no middle ground in this country anymore, and I don't see any in the immediate future.

[Happy Monkey]

Originally Posted by TheMercenary

I have heard this but you and I know that it was much more complicated than that. Bills passed by Bush, Congress dominated by the Dems since 2007,

The recession started in 2007, so it must have been caused before that. So Democrats dominated Congress during the entire process of ending the recession?

I agree that it's always more complicated than a soundbite, but the data you provide isn't quite a counterpoint to "Obama fixed it!", especially since the current Republican party would like to disavow all knowledge of Bush's role in stimulus and bailouts at the end of his term.

[TheMercenary]

Originally Posted by Happy Monkey

The recession started in 2007, so it must have been caused before that. So Democrats dominated Congress during the entire process of ending the recession?

I agree that it's always more complicated than a soundbite, but the data you provide isn't quite a counterpoint to "Obama fixed it!", especially since the current Republican party would like to disavow all knowledge of Bush's role in stimulus and bailouts at the end of his term.

The Republickins are no better than the Demoncrats. Based on your logic the Demoncrats want to get all of the accolades of ending the recession and none of the responsibility for all of it's failures. I am going to go and photo shop a pic of Obama standing on a carrier with a banner in the background saying mission accomplished. Tell that to the millions still out of work in a nation of deficit spending and no plan to pay for them.

[classicman]

That goes without saying HM. I think this administration would like to say that it ended under their reign as well.


I agree with Ariana Huffington when she said that politicians from both parties have been screwing the middle class for thirty years.

[classicman]

Obama Administration Gave General Electric—Parent Company of NBC--$24.9 Million in ‘Stimulus’ Grants

Despite getting $24.9 million from U.S. taxpayers, GE decreased its U.S.-based employees by 18,000 in 2009, according to the company’s 2009 annual report.

According to Standard & Poor's, GE took in $156 billion in revenue in 2009.

All of these federal stimulus grants went to GE’s Global Research Center.

The earliest of the stimulus grants went to GE in July 2009 and the latest in April 2010.

CNSNews.com asked a GE spokesperson if the company contested Recovery.gov’s representation that GE had received 14 stimulus grants worth $24.9 million, and also whether the company now employed more or fewer workers as a result of receiving the grants.

In an e-mail response, GE spokeswoman Anne Eisele said, “I’m afraid I must politely decline to comment.”

What did all the money to GE go for? Recovery.gov posts brief explanations of each grant. For example, the Department of Justice gave GE $999,955 in stimulus money. “The goal of this program,” said Recovery.gov, “is to develop a comprehensive reasoning system for event and scenario recognition for an intelligent video system.”

In addition to the $24.9 million it received in stimulus grants, GE was also awarded $5 million in federal contracts under the economic stimulus law. These contracts were payment for services provided by the company.

Link

Somehow I missed this one. I've perused that site a number of times. I'm constantly amazed at what/where money was spent on/for.

[Happy Monkey]

What's amazing about this? A subsidiary of a big company ran some projects using stimulus money? Did they do the things they got the grants for?

I guess the "NBC" mention is to bring up the "GE owns NBC which owns MSNBC which employs Olbermann and Maddow, who are liberal!" angle, but the article says the money went to the "Global Research Center". A generic name, but I'd guess it isn't part of NBC.

You didn't quote the most damning bit in the article, where GE kept outsourcing while accepting stimulus funds. Unfortunately, to get rid of tax incentives for outsourcing, we'd have to get rid of the legislators who most vociferously decry the stimulus.

[classicman]

nah - I was more interested in this...

Despite getting $24.9 million from U.S. taxpayers, GE decreased its U.S.-based employees by 18,000 in 2009, according to the company’s 2009 annual report.

They got money to "stimulate" jobs and they shed 18,000 workers.

[Happy Monkey]

That's what my third paragraph was in reference to. I'm all for disincentivising outsourcing, but GE is an insanely huge company, and the outsourced/eliminated jobs are probably unrelated to the "Global Research Center". Heck, there were probably more than a few job losses in the NBC division that CNS News hates so much.

[xoxoxoBruce]

GE Global Research is one of the world's largest and most diversified industrial research organizations, providing innovative technology for all of GE's business. Global Research has been the cornerstone of GE technology for more than 100 years, and is now focused on developing breakthrough innovations in areas such as molecular imaging and diagnostics, energy conversion, nanotechnology, advanced propulsion and security technologies. GE Global Research is headquartered in Niskayuna, NY, and has facilities in Bangalore, India, Shanghai, China, and Munich, Germany.

Employees
Worldwide:more than 2,800 (more than 1,000 PhDs)

They do research on new shit that's commercially viable for GE. They also are brains for hire, to anyone that wants research or development done. This isn't a gift to GE, it's a contract for services with Global Research Division.
Lots of goverment agencies hire them for projects, and apparently used some stimulous money to do so.

[TheMercenary]

Originally Posted by Happy Monkey

That's what my third paragraph was in reference to. I'm all for disincentivising outsourcing, but GE is an insanely huge company, and the outsourced/eliminated jobs are probably unrelated to the "Global Research Center". Heck, there were probably more than a few job losses in the NBC division that CNS News hates so much.

Is that the same GE that took a huge chunk of bailout money from Obama and the Demoncrats?

[xoxoxoBruce]

The first part is about electric cars. If that doesn't interest you the bailout starts about 3:40.

[classicman]

He was doing relatively well until he said that the bailout saved a billion jobs.
According to the GM Corporate Website, GM only employs 252,000 people globally.
Too bad.