Obamonomics

[Shady]

It seems as though if you're in an industry that's not approved or adored by the Obama administration, you may as well kiss your job goodbye. Which is very ironic. Considering this is the guy who complained during the campaing, and still complains about companies outsourcing jobs overseas. Especially manufacturing jobs.

This man is a jobs wrecking ball. :angry:

First rig sails away over drilling ban

Lawmakers and experts fear loss is only the start of offshore exodus

WASHINGTON — Diamond Offshore announced Friday that its Ocean Endeavor drilling rig will leave the Gulf of Mexico and move to Egyptian waters immediately — making it the first to abandon the United States in the wake of the BP oil spill and a ban on deep-water drilling.

And the Ocean Endeavor's exodus probably won't be the last, according to oil industry officials and Gulf Coast leaders who warn that other companies eager to find work for the now-idled rigs are considering moving them outside the U.S

AP

And...

U.S. agency's action may kill Bucyrus deal, cost 1,000 jobs

Up to 1,000 jobs at Bucyrus International Inc. and its suppliers could be in jeopardy as the result of a decision by the U.S. Export-Import Bank, funded by Congress, to deny several hundred million dollars in loan guarantees to a coal-fired power plant and mine in India.

About 300 of those jobs are at the Bucyrus plant in South Milwaukee, where the company has 1,410 employees and its headquarters. The remaining jobs are spread across 13 states, including Illinois, Minnesota and Indiana.

On Thursday, the Export-Import Bank denied financing for Reliance Power Ltd., an Indian power plant company, effectively wiping out about $600 million in coal mining equipment sales for Bucyrus, chief executive Tim Sullivan said.

The fossil fuel project was the first to come before the government-run bank since it adopted a climate-change policy to settle a lawsuit and to meet Obama administration directives.

I, like probably many others, can't wait until this jobs wrecking ball is out of office.

[Shady]

Btw. Obama's already been told by the courts that he doesn't have the authority to ban offshore drilling. He also lost his appeal.

Also, the coal-fired power plant that was denied funding by the Obama administration, is going to be built anyways. The only issues was whether it would be a Chinese company or an American company. I guess Obama figured the Chinese deserved the jobs more.

[sharkman]

Sadly, the havoc that Obama is authoring is only beginning to be revealed. It's been a long time since a president was so out of touch with how business works. A stimulus package at its very best will only provide temporary jobs for the projects which Obama deems appropriate. When the road, construction or census project is complete, the jobs end and add to the unemployment numbers again. Building a factory sounds better, but if there is no economy for growth, the product the factory builds will not sell.

But wait, there's more. As was reported yesterday, Obama still has over 300 billion of the original package left!(And last month he was trying to pass another 100 billion stimulus bill, the mind boggles) Like I said when the stimulus was first announced, he's now using it as an election war chest instead of following through with his promises of shovel-ready projects over a year ago. He lets the economy flounder so he can spend the money closer to the midterms, 2 years after the recession started.

And then there is the oil fiasco. The American economy will die without oil, and will be greatly harmed if the price per barrel rises over 100 again. Yet Obama single-handedly tightens supply by banning offshore drilling. At least the courts got it right although word is that Obama will try again with the banning. And if America is not producing its own oil, it will be buying it elsewhere. That makes no sense, you've got your own oil, but would rather buy it and fund countries that want to see you fall.

[Borg]

Barry is purposely destroying the United States.

Borg

[bloodyminded]

Barry is purposely destroying the United States.

Borg

Well, that sounds a bit unlikely.

[sharkman]

Well, that sounds a bit unlikely.

What, no demand that he 'back up' his claims? That seems a bit unlikely.

[bloodyminded]

What, no demand that he 'back up' his claims? That seems a bit unlikely.

What the hell are you on about now?

I guess my asking you for evidence for your asertions is unreasonable of me.

Like you, i should take right-wing claims about the media, without evidence, as gospel.

[Michael Hardner]

Barry is purposely destroying the United States.

You guys sure get "whipped up" on things.... Edited July 11, 2010 by Michael Hardner

[dre]

Barry is purposely destroying the United States.

Borg

[Shady]

Barry is purposely destroying the United States.

I'm not sure I agree that he's purposely destroying the United States. But he's certainly destroying jobs and industries he doesn't deem appropriate. Which isn't the job of the President.

Edited July 11, 2010 by Shady

[dre]

I'm not sure I agree that he's purposely destroying the United States. But he's certainly destroying jobs and industries he doesn't deem appropriate. Which isn't the job of the President.

Can you list the industries hes destroying? That way in a year or so, once its plain to see that these industries havent been destroyed and are still healthy and strong, you can apologize for wasting our time.

[davmab2000]

Obama is an enemy of the PLEASURE PRINCIPLE...

Can you list the industries hes destroying? That way in a year or so, once its plain to see that these industries havent been destroyed and are still healthy and strong, you can apologize for wasting our time.

[Shady]

Can you list the industries hes destroying?

I already have. But if you still need to know.

1. Offshore drilling.

2. Manufacturing.

3. Coal industry.

4. Health insurance.

I'm probably missing some.

[Michael Hardner]

Some of those industries may be affected by other forces.

[TimG]

Some of those industries may be affected by other forces.

Obviously there are many factors at work but the combination of the healthcare bill which heaps costs on employers, threats of CO2 regulation/higher energy prices and large deficits (meaning higher taxes in future) make the US an extremely hostile business environment today.

[Michael Hardner]

Obviously there are many factors at work but the combination of the healthcare bill which heaps costs on employers, threats of CO2 regulation/higher energy prices and large deficits (meaning higher taxes in future) make the US an extremely hostile business environment today.

Right. Obviously, hence my tongue in cheek post. Blaming Obama for the fortunes of manufacturing begs for a footnote.

The US has pretty low taxes now - do we think reducing them will bring those jobs back ? I don't think that will happen. Once the jobs are gone, they're gone.

[dre]

I already have. But if you still need to know.

1. Offshore drilling.

2. Manufacturing.

3. Coal industry.

4. Health insurance.

I'm probably missing some.

The offshore drilling industry has certainly shot itself in the foot temporarily, but my guess is that revenues will grow in the next few years not shrink.

The destruction of manufacturing/production was started by Reagan has continued under every administration since.

The Coal industry will remain strong and continue to grow.

Health Insurance company stocks went UP as a result of Obamacare which is essentially a health insurance company welfare bill that guarantees them more customers.

So youre batting 0 for 4. Any other attempts?

[dre]

Right. Obviously, hence my tongue in cheek post. Blaming Obama for the fortunes of manufacturing begs for a footnote.

The US has pretty low taxes now - do we think reducing them will bring those jobs back ? I don't think that will happen. Once the jobs are gone, they're gone.

The number one reason why manufacturing isnt strong in the US? Workers wont work for $1 an hour like they will in the places US manufacturing jobs are being offshored to.

[Shady]

The offshore drilling industry has certainly shot itself in the foot temporarily, but my guess is that revenues will grow in the next few years not shrink.

Revenues may grow, but not by as much. Also, jobs might grow, but not by as much. Not nearly as much. Obama's unconstitutional moratorium has already cost the Gulf states 10,000 jobs. And the movement of oil rigs to other countries is only beginning.

The destruction of manufacturing/production was started by Reagan has continued under every administration since.

But we've already seen 1,000 workers in Wisconsin, out of jobs, specifically because of Obama's orders. Couple idiotic decisions like that with higher taxes, and jobs will leave faster than before.

The Coal industry will remain strong and continue to grow.

Your words are great, but don't jive with reality. The coal industry already took a hit in Wisconsin. I've already posted about the Obama administration refusing to allow a company to built a coal-fire power plant. Instead that work went to a company in China. Is that what you call remaining strong and continuing to grow?

The loss of 1,000 jobs? If Obama wasn't President, those workers would still have their jobs. That's a fact.

Obama's own words:

if somebody wants to build a coal plant, they can — it’s just that it will bankrupt them, because they are going to be charged a huge sum for all that greenhouse gas that’s being emitted

Under my plan of a cap and trade system, electricity rates would necessarily skyrocket

Yeah, sounds like the coal industry has a great future under Obama!

[dre]

Revenues may grow, but not by as much. Also, jobs might grow, but not by as much. Not nearly as much. Obama's unconstitutional moratorium has already cost the Gulf states 10,000 jobs. And the movement of oil rigs to other countries is only beginning.

But we've already seen 1,000 workers in Wisconsin, out of jobs, specifically because of Obama's orders. Couple idiotic decisions like that with higher taxes, and jobs will leave faster than before.

Your words are great, but don't jive with reality. The coal industry already took a hit in Wisconsin. I've already posted about the Obama administration refusing to allow a company to built a coal-fire power plant. Instead that work went to a company in China. Is that what you call remaining strong and continuing to grow?

The loss of 1,000 jobs? If Obama wasn't President, those workers would still have their jobs. That's a fact.

Obama's own words:

Yeah, sounds like the coal industry has a great future under Obama!

All you have done is described a few ways in which you think various industries might be set back. None of these examples justify your hyperbole about "destroying industries".

For an example of "destroying an industry" look at what Reagan and his predecessors did to the steal industry.

The oil industry will remain strong, as will the coal industry. I bet you in one year that revenues for both will actually have GROWN. Revenues and stock prices for the Healthcare industry have already grown during Obamas presidency. Manufacturing may shrink or stay stagnant but thats because of the bipartisan decisions that dirt cheap non durable consumer goods are more important than jobs, which is a policy thats been under way for almost 30 years.

Do you have ANY examples at ALL that support your overheated hypbolic rhetoric?

[Shady]

All you have done is described a few ways in which you think various industries might be set back. None of these examples justify your hyperbole about "destroying industries".

Personally, when I hear somebody say they want to bankrupt an industry, I sort of think of that as being similar to destroying an industry. Now, it might not happen overnight. But the process is still in place. Hopefully a new congress and a new president can reverse any damage in time.

[punked]

Personally, when I hear somebody say they want to bankrupt an industry, I sort of think of that as being similar to destroying an industry. Now, it might not happen overnight. But the process is still in place. Hopefully a new congress and a new president can reverse any damage in time.

Bankrupting the oil industry means bankrupting Iran Shady. Like it or not the US provides only 3% of the worlds oil.

[Jack Weber]

Bankrupting the oil industry means bankrupting Iran Shady. Like it or not the US provides only 3% of the worlds oil.

And Hugo Chavez...

He should be jumping for joy at that possibility!!!

[Shady]

Bankrupting the oil industry means bankrupting Iran Shady.

Not at all. In fact, Canada provides more oil to America than Iran. And Canada and Mexico provide the vast majority of oil to America. However, when I talk about bankrupting an industry, it was the coal industry Obama was talking about. And now with his unconstitutional moratorium, he's doing a good job against the American oil industry as well.

[dre]

Not at all. In fact, Canada provides more oil to America than Iran. And Canada and Mexico provide the vast majority of oil to America. However, when I talk about bankrupting an industry, it was the coal industry Obama was talking about. And now with his unconstitutional moratorium, he's doing a good job against the American oil industry as well.

So nothing? Nothing to back up your hyperbole at all?

How much have coal industry revenues dropped since Obama has been in office?

Clearly before you called Obama a Destroyer Of Industry, you did some research and found out various industries were rapidly losing revenue and shedding jobs as a result of Obamas policies.

Can you share that research with us? Provide us some links? Clearly you have that information at disposal because we KNOW that youre not the kind of guy that would engage in unsubstantiated political hackery and hyperbole