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Obama's Legacy: The Economy, Presidential Orders, Etc.
#1
Restaurant Industry, Leading Indicator of US Economy Sours, Bankruptcies Pile up

Quote:On Friday, September 30, Restaurants Acquisitions, the operator of Black-eyed Pea and Dixie House restaurant chains, converted its Chapter 11 filing to Chapter 7 liquidation. The bankruptcy court order noted the company had shuttered its restaurants and management had resigned.
The day before, Cosi Inc., a fast-casual chain with 1,100 employees filed for bankruptcy. It closed 29 of its 74 company-owned restaurants and laid off 450 people. The 31 independently owned franchise operations continue operating.
Also last week, Logan’s Roadhouse, a casual steakhouse with over 200 locations, closed more than 10 restaurants, on top of the locations it had already closed in August when it filed for Chapter 11 bankruptcy.
Eight restaurant companies representing 12 chains have filed for bankruptcy since December: Restaurants Acquisitions, Cosi, Logan’s Roadhouse, Fox & Hound, Champps, Bailey’s, Old Country Buffet, HomeTown Buffet, Ryan’s, Johnny Carino’s, Quaker Steak & Lube, and Zio’s Italian Kitchen
Personally, I prefer all you can eat road kill.
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#2
Yeah, folks don't have the excess spending money in order to enjoy eating out.
___________________________________________________________________________________________________
"INSIDE EVERY PROGRESSIVE IS A TOTALITARIAN SCREAMING TO GET OUT" - David Horowitz

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#3
His economy honestly is not "his" beyond ObamaCare's effects. He hasn't made major changes in economic ideas, our tax rates are roughly what they were when Reagan left office.

The difference is we are as a society running out the end of the string of our debt problems with monetary policy that monetizes our debt, we can't raise rates off dead 0 w/o fear of collapsing our economy, etc.

It didn't matter who the Potus was when Obama was elected and it won't matter who the next one is for economics, the USA is near the end of a debt cancer that is going to drive us into the ground and if Russia and China succeed in getting the globe off the US dollar, we're in for an economic retraction like Greece.
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#4
Part of these Bankruptcies are probably a fear of minimum wage and high regulations intruding. Consider ObamaCare to be another huge liability. When one stops making money it is stupid to keep throwing funds down the toilet. These are things that have gotten worse and not something to blame on prior administrations.
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#5
That's true, but, the western economy with the USA as the worst example is out on a debt/low interest rate binge that is coming to a conclusion in our lifetimes.

Specific things like OC hurt, but, are drops in the bucket of the debt we've accumulated, mainly since and due to Reagan.

Not due to his tax cut views, to his conclusion that debt was meaningless if you get enough economic growth.

Everyone agreed and it's too late to turn around and the rocket scientist secularists that run the nation forgot the economy doesn't always grow.
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#6
But Reagan was proven right. His tax cuts did result in significant business improvement, and overall increase in federal revenues. This resulted in a sustained financial growth of the nation for 12 straight years--something the leftist economists had previously said was impossible. Why do some people keep trying to revise this history? Obviously leftwingers want to pretend their tax and spend policies will someday eventually work, and deny the proof to the contrary that Reagan provided. This highlights how important it is for us to be intelligently informed about history, and not let ourselves be manipulated by control-freaks willing to tell blatant lies to deny the lessons of the past.
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#7
Subprime Auto-Loan Backed Securities Turn Toxic

Quote:In the subprime auto loan market, things are turning ugly as delinquencies and losses have begun soaring. Specialized lenders – a couple of big ones, and a whole slew of small ones that service the lower end of the subprime market – slice and dice these loans, repackage them into auto-loan backed securities (auto ABS), and sell them to investors, such as yield-hungry pension funds.
Delinquencies of 60 days and higher among subprime auto ABS increased by 22% year-over-year in August, Fitch Ratings reported on Friday – now amounting to 4.9% of the outstanding balances that Fitch tracks and rates. And subprime annualized losses increased by 27% year-over-year, reaching 8.9% of the outstanding balances of auto ABS.
Even delinquencies among prime borrowers are rising, with delinquencies of 60 days or more increasing by 17% from a year ago, and annualized losses by 11%, though they’re still relatively tame at 0.4% and 0.6% respectively of the balances outstanding.
And according to Fitch, the toxicity level in the subprime auto ABS space isgoing to rise, with “subprime auto losses to pierce 10% by year-end.”
Total auto loan balances, both subprime and prime – given the soaring prices of cars, the stretched terms of the loans, and the ballooning loan-to-value ratios – have been skyrocketing, up 46% from the first quarter in 2011 through the second quarter in 2016, when they hit $1.07 trillion:

Just another sign we are about 6 months away from a financial meltdown.
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#8
(10-04-2016, 11:22 AM)Palladin Wrote: That's true, but, the western economy with the USA as the worst example is out on a debt/low interest rate binge that is coming to a conclusion in our lifetimes.  

Specific things like OC hurt, but, are drops in the bucket of the debt we've accumulated, mainly since and due to Reagan.

Not due to his tax cut views, to his conclusion that debt was meaningless if you get enough economic growth.

 Everyone agreed and it's too late to turn around and the rocket scientist secularists that run the nation forgot the economy doesn't always grow.

Actually,

Obama is by far the number one debt creator,Bush II as number two. Reagan is at Number Five.

U.S. Debt by President: By Dollar and Percent
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#9
(10-04-2016, 12:27 PM)Ron Lambert Wrote: But Reagan was proven right. His tax cuts did result in significant business improvement, and overall increase in federal revenues. This resulted in a sustained financial growth of the nation for 12 straight years--something the leftist economists had previously said was impossible. Why do some people keep trying to revise this history? Obviously leftwingers want to pretend their tax and spend policies will someday eventually work, and deny the proof to the contrary that Reagan provided. This highlights how important it is for us to be intelligently informed about history, and not let ourselves be manipulated by control-freaks willing to tell blatant lies to deny the lessons of the past.

Very true,while he did create a lot of debt,it was tempered by unusually strong economic growth.
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#10
(10-04-2016, 01:01 PM)sunsettommy Wrote:
(10-04-2016, 11:22 AM)Palladin Wrote: That's true, but, the western economy with the USA as the worst example is out on a debt/low interest rate binge that is coming to a conclusion in our lifetimes.  

Specific things like OC hurt, but, are drops in the bucket of the debt we've accumulated, mainly since and due to Reagan.

Not due to his tax cut views, to his conclusion that debt was meaningless if you get enough economic growth.

 Everyone agreed and it's too late to turn around and the rocket scientist secularists that run the nation forgot the economy doesn't always grow.

Actually,

Obama is by far the number one debt creator,Bush II as number two. Reagan is at Number Five.

U.S. Debt by President: By Dollar and Percent

Yeah, and note the Second Greatest President of the US, and see how he did with the debt.  

Quote:Calvin Coolidge: Subtracted $5 billion from the debt, a 26% decline from $21 billion the debt level at the end of Harding's last budget, FY 1923.

FY 1929 - $1 billion surplus.
FY 1928 - $1 billion surplus.
FY 1927 - $1 billion surplus.
FY 1926 - $1 billion surplus.
FY 1925 - $1 billion surplus.
FY 1924 - $1 billion surplus.

Now, That's What a REAL Leader is capable of doing.  And that's why I am a Cooledge lover.  He was the Greatest, right behind Washington.   All others are midgets by comparison. S22

"Course, he had Andrew Mellon along with him.  Great link Tommy. S22
___________________________________________________________________________________________________
"INSIDE EVERY PROGRESSIVE IS A TOTALITARIAN SCREAMING TO GET OUT" - David Horowitz

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#11
U.S. Debt by President: By Dollar and Percent

Instead of just by President, I'd like to see it to include what Party controlled Congress at the time.
I know you think you understand what you thought I said,
but I'm not sure you realize that what you heard is not what I meant!
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#12
(10-04-2016, 05:27 PM)JohnWho Wrote: U.S. Debt by President: By Dollar and Percent

Instead of just by President, I'd like to see it to include what Party controlled Congress at the time.

You asked for it,...........you got it..............Toyota. S22

Party divisions of United States Congresses
___________________________________________________________________________________________________
"INSIDE EVERY PROGRESSIVE IS A TOTALITARIAN SCREAMING TO GET OUT" - David Horowitz

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#13
Ron,

Reagan was proven right that drastic tax reductions = higher economic growth, that isn't what I was lamenting. I lament the fact that as his years went on, he intellectually said "F IT" vis a vis deficits and the entire political spectrum agreed with him.

Now, our society is heading toward a serious crisis because of debt, rigid monetary policy and interest rates and it shouldn't have come to this.

Reagan is the man that started the USA down the road to this massive deficit/interest rate/monetary policy dead end we're on now. If the next set of leaders had reversed course, we'd be fine right now, everyone on all sides bought into "deficits don't matter" view.
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#14
Heavy Truck Orders Plunge, Worst September since 2009

Another sign of the mess Donald Trump is about to inherit. Who feels the reason the DNC nominated two duds is because they are very much aware the economy is a mess want the Republicans to wear it?
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#15
Remember when candidate Al Gore kept harping on putting the surplus from the end of the Cold War into a "lock box"? At the end of the Reagan years, there was a lot of money in the federal budget freed up because of the end of the Cold War, allowing a substantial reduction in the cost of defense. Had that money been applied to paying down the national debt, Reagan would not be credited with having created a lot of debt; in fact, we would be in much better shape now. But Democrats wanted to apply the money to their favorite socialist boon doggles. Evidently someone wants to lead America along to the point where our financial system goes bust.
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#16
Obama's Legacy

Have fun with this one.
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#17
Ron,

No, there was no money, we had trillions already in deficits.

What Gore was discussing was a social security surplus( that didn't exist in reality, just on paper) and the lock box, go do your own search.

Clinton had a balanced budget I think 1 year and didn't add to the deficit, otherwise that's it.
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#18
(10-05-2016, 01:13 PM)Palladin Wrote: Ron,

No, there was no money, we had trillions already in deficits.

What Gore was discussing was a social security surplus( that didn't exist in reality, just on paper) and the lock box, go do your own search.

Clinton had a balanced budget I think 1 year and didn't add to the deficit, otherwise that's it.

Actually Clinton, Never had a balanced budget during his time in office. The lowest he got was 18 Billion for year 2000:

Bill Clinton: Added $1.396 trillion, a 32% increase to the $4.4 trillion debt level at the end of Bush's last budget, FY 1993.
  • FY 2001 - $133 billion.
  • FY 2000 - $18 billion.
  • FY 1999 - $130 billion.
  • FY 1998 - $113 billion.
  • FY 1997 - $188 billion.
  • FY 1996 - $251 billion.
  • FY 1995 - $281 billion.
  • FY 1994 - $281 billion.
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#19
(10-05-2016, 04:00 PM)sunsettommy Wrote:
(10-05-2016, 01:13 PM)Palladin Wrote: Ron,

No, there was no money, we had trillions already in deficits.

What Gore was discussing was a social security surplus( that didn't exist in reality, just on paper) and the lock box, go do your own search.

Clinton had a balanced budget I think 1 year and didn't add to the deficit, otherwise that's it.

Actually Clinton, Never had a balanced budget during his time in office. The lowest he got was 18 Billion for year 2000:

Bill Clinton: Added $1.396 trillion, a 32% increase to the $4.4 trillion debt level at the end of Bush's last budget, FY 1993.
  • FY 2001 - $133 billion.
  • FY 2000 - $18 billion.
  • FY 1999 - $130 billion.
  • FY 1998 - $113 billion.
  • FY 1997 - $188 billion.
  • FY 1996 - $251 billion.
  • FY 1995 - $281 billion.
  • FY 1994 - $281 billion.

That's right Tommy, a Jackass president galloping alongside a Dumbass congress, following the 1994 elections. They certainly know how to work together, in concert, don't they? Shock
___________________________________________________________________________________________________
"INSIDE EVERY PROGRESSIVE IS A TOTALITARIAN SCREAMING TO GET OUT" - David Horowitz

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#20
Manufacturing Remains Weak, Trade Growth Is Slowing Dramatically, Corporate Profits Continue To Fall… And Now Real Estate Is Finally Rolling Over?
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