Thread: Bush's address

Originally Posted by citizen

The text agrees with Mario.

Read closer. The only thing that seems that it does is the following: "Small businesses create over 75 percent of the new jobs in the United States." It says 75% of the new jobs. This is the important piece. Jobs in small business are volatile because of the relatively low success rate of the businesses. The goal is to have more jobs at a given point in time, not just create and destroy frequently. Therefore what may seem to contradict the census bureau, does not. But even if it did contradict, probably a safe bet to go with the census bureau on this one

Originally Posted by citizen

I've learned that small businesses and sole-proprietors alike don't necessarily need huge piles of money to start operation. For example, I could start a word processing service right now with zero investment.

This is important! You can in fact create some business with low to zero investment. But how can they grow? The answer is reinvested profit. Internal or external investment are the same principle. If you want to slow the economy, take that profit away from them or take away external investment dollars. Either one has similar effect.

Lack of small business importance wasn't part of my argument in the least. This is getting to be a long thread but my statements haven't strayed from:

The rich invest much of their excess, often in business. Business uses investment for expansion. That's where jobs come from. Hurting the rich results in hurting the poor.

All of this in response to several statements that condemn the rich and want to punish them.

no worries mate!

Well Capitalism is working and cleaning house. WaMu collapsed today but was acquired by Jp Morgan Chase. This entire crisis is changing the face of the banking industry. What seems very different in this crisis is that some banks are actually in very good positions since they do not have a large share of toxic assets. Only those who dabbled a lot in the now toxic assets seems to be hurting for cash. But Capitalism means that there is another bank to step up and will be in a better position to shoulder the debt and that is exactly what is happening. Bank of America and JP Morgan Chase are becoming very very big banks almost overnight.

I will get fearful when we see banks that do not have toxic assets begin to crumble under the weight of those who do. So far that does not seem to be happening.

It is unfortunate that so many have to lose their jobs because of the actions of a select few. I'm not sure we have hit rock bottom yet in this crisis but after it has passed we should see a very different job and credit climate.

Originally Posted by Bubba

It is unfortunate that so many have to lose their jobs because of the actions of a select few.

And according to a recent news on TV, of which administrators have earned bonuses on the last 2 years that go well over the proposed 700 billion dollars.