Cutting jobless will take time: Summers

[AllentownJake]

WASHINGTON (Reuters) – President Barack Obama's top economic adviser said on Monday that tackling high U.S. unemployment was vital but the problem would take time to fix.

"I think recessions like the one we're suffering now have very substantial costs," said Lawrence Summers, director of Obama's National Economic Council.

"Addressing 10.2 percent unemployment is a matter of very great urgency. It is not something that is going to be fixed in a week, or a month, or a year," Summers said in after-dinner remarks for a conference on innovation and the economy sponsored by Intel Corp and the Aspen Institute.

http://news.yahoo.com/s/nm/20091201/ts_nm/us_usa_economy_summers

[Tansy_Gold]

1. PUT A SOCK IN IT, LARRY, YOU FUCKING ASSHOLE

Those "substantial costs" you're talking about are being borne by the WORKING people who have lost their jobs for no other reason than to put MORE money in the pockets of YOUR friends.

THAT'S RIGHT, Larry, you piece of worm shit. The same number of CARS were being made, but they were not being made by union-wage AMERICAN WORKERS. In order to increase profits for the STOCKHOLDERS, jobs were moved to Mexico, to China, to Bangladesh and Turkey and Honduras. Pukes like Richard Shelby COURTED foreign car makers to bring non-union auto worker jobs to their states, then they reviled the American workers whose unions had fought so workers could have decent lives.

You, Larry, you rotten whore, don't give a wet fart for the "urgency" of high unemployment. And don't give me any crap about "we're suffering." You aren't suffering at all. What did you give up for the recession? Huh, Larry? Did you give up your country club membership? Did you give up lunch three times a week? Breakfast entirely? Did you stop turning on the furnace until the temperature in the house gets down to 55? 50? 45?

Did you go without medical care, hoping the lump on your breast would go away? Did you go without dental care, even though another tooth broke off and your jaw hurts so bad you can't eat anyway? Did you tell the kids their dog ran away when you really took it outside of town and dumped it because you can't afford dog food any more?

YOU AREN'T SUFFERING AT ALL, you smarmy toadstool. So shut the fuck up, resign your cushy job, and get out of our lives.


SINCERELY,


Tansy Gold

[udbcrzy2]

3. Yeah, Tansy Gold

I feel the same way. We are fucked and my family is also suffering.

[OhioChick]

8. Well said, Tansy. n/t

[SammyWinstonJack]

9. +1

:applause:

[madrchsod]

2. over two billion to a chinese construction firm for nyc projects

china decided to ban every foreign company based in their country or outside their country...guess what? their economy grew 12% after their stimulus....


barack is going to be a one term president.

[Statistical]

5. Really?

Strange China imported $1.156B.

Any links to this made up "ban" in China?

http://en.wikipedia.org/wiki/List_of_countries_by_imports

While it looks less than US imports of $2.2 trillion you have to remember Chinese GDP is much smaller.

Chinese GDP is $4.3T so imports represent over 34% of Chinese economy.
US GDP is $14T so imports represent less than 15% of US economy.

[madrchsod]

10. should be on google. the ban was on the stimulus projects

i heard the new york deal on the radio yesterday and i`m not sure if was big ed or hartman.

[Statistical]

11. Chinese economy would utterly be destroyed if they banned imports.

China is dependent on a lot of imports. They have virtually no ability to produce precision machinery or heavy industrial equipment (like that made by US company Caterpillar). Also they are dependent on fuel & coal imports. China imports the majority of their power turbines and they are building a coal plant a month.

Without imports of required heavy machinery all that stimulus would stop. Can't build roads, or building, or bridges without specialized equipment.

Lastly China has plans to build 200 US nuclear reactors over next 20 years. Kinda hard to do that with a ban. Banning US companies inside China would be even MORE stupid. If the choice is import or build domestically building domestically employs citizens even if profits go to Ford, Boeing, Motorolla, etc.

So unless China wants a complete economic collapse they wouldn't due something as stupid as cutoff foreign companies when over 1/3 of the economy is dependent on them.

[Romulox]

4. How long will distributing trillions in taxpayer dollars to Wall Street take, Larry?

[SoCalDem]

6. They'd have better luck by just "exporting" the unemployed

and paying a 3rd party to care for them:)..Cities do this with homeless all the time.. Maybe Larry & the boyz, should just buy the unemployed an airline ticket, and send them off to "somewhere else"...like maybe India, or Mexico, or Canada..

The ones who go to India, could visit their old jobs:)

[Fumesucker]

7. Shorter Lyin' Larry: I Got Mine, Fuck You. n/t