Emanuel Cleaver and the Economy: The trickle-down effect
Submitted by Adrianne DeWeese on April 20, 2009 - 10:52am
Congressman Emanuel Cleaver spoke for an hour straight Friday morning before a packed room of business professionals at the Independence Chamber of Commerce. He spoke softly, yet firmly, only pausing several times for a sip of water. As he dived into the economic recession and different components of its discussion, he came upon the "Big Three" auto bailouts. He claimed that failing to financially help or "bailout" the auto industry would, by some economists' accounts, cause unemployment in the U.S. to rise to 15 percent overnight.
Period. No questions asked.
What do you as readers think? How does the closing of certain industries trickle down and affect others? (For example, what about the companies that supply toilet paper to all of the auto indstry factories? What about the little restaurant down the street in Claycomo where employees eat? These are hypothetical situations and conditions that Cleaver also posed.)
How has the economic recession affected each of your lives? I've heard time and time again that because we're in the Midwest, we are slightly more insulated from the problems than, say, states like California. But there's no doubting that the recession has affected each of us in some way, no matter how small we might think it is.
- Adrianne DeWeese's blog
- Login or register to post comments
Filed under:
Comments
I think we're now seeing signs of reality check about our past economic huburous like 'Are we in danger of emulating Russian economy down the tubes? and 'Are our policies heading us to a Bananna republic?' on the financial news channels. It's good we ask these questions. What are the consequences if the plan fails? And 'When and with whom does it end?" The old adage I've always heard is "your first loss is usually your least loss". The current mindset is Government has an endless supply of money. If you're fortunate enough to work for Company "too big to let fail.Inc" you've got protection till Uncle Sam goes broke or cuts bait (and every pocket does have a bottom) and if you work for Company "too insignificant to bail out.Inc.", well, that's a cry'n shame. Personal, corporate and governmental financial responsibility all need to become fashionable again. We're just fortunate that this country has enough discretionary resources we can be as stupid as we've been. I think its funny that government is concidered to be the financial adult in all of this.
Normal
0
We have our heads so far up our U NO what on this it is just dumb…
Lead story on even news if we treated Terreist badly and Obama is defending our tactics to the CIA, screw em…
were they concerned about the 20 or 30,000 people they have blown up???
Back in the day we used to give em a helo ride… two at a time..
One landed, one flew to the ground, never failed, all talked..
No one ever lost a min sleep over it…
Auto bail out or no, it seems likely that Chrysler will fail and GM will by the end of June go for a controlled bankruptcy, a scenario that should have been adopted before the first "loans" were made. In both instances what happens to the billions in "loans" that were given to the car companies? The strange thing to me is that nobody seems to be seriously addressing the housing problems. This is especially puzzling since the whole mess really started with the coercion of the banks to loan to under capitalized individuals. Like it or not, until the foreclosures are halted, the economy will suck. If that means giving these folks a hand up, so be it. Mr. Cleaver just announced a $200M grant for a depressed area in KC to weatherized a slew of low income houses. I'm low income also, but I won't benefit from this piece of government largess. So it goes, some will benefit from mortgage adjustments, some won't, but in the end all will.
Civil, I couldn't agree with you more about the housing market. It's perfect time to buy, though, if you have a little bit of money saved up and you're financially in a place to do so. I'm encouraging all of my friends (who are about 25 years old) to buy now if they can.
For a really in-depth, comprehensive look at the economic meltdown, I highly suggest "House of Cards," a documentary that CNBC produced. A lot of it is contingent upon different regions in the U.S., but it's the most comprehensive documentary of the recession that I've been able to locate. Certain parts of it will give you chills and others will bring tears to your eyes.
Right on! A great time to buy a house if you can. Also a great time to refinance if your current interest rate on a 30 year loan is 5.25% or above. For a young person, the stock market could be good. Not to jump in and out, but jump in for the long haul Bad economic times can benefit certain segments, especially those in relatively recession proof occupations.
Normal
0
Well back before the election last Year I posted many blogs that said let em fail..
I said it in every way U could accept Chinese…
How about FORD, that’s a name were not hearing much about???
Why not???
Are they doing a better job than the other two??? YES…
If Ur a Pi$$ Poor bussness man and the Gov keeps U propped up who are they helping?? The people who are buying them vacation Homes in the Hampton that’s who, the GM Ceo’s…
This entire problem is a many affirmative action desaster in the worst since of the word…
In the 70’s & 80’s when we quit hiring the best person for a job, and started hiring the best female, black, Hispanic, best what ever but not the best person… that’s what the entire failure of our country boils down too… That’s why our kids our dumb, when they get out of school.
we made loans to people who could not afford the house, but they were Female, black, Hispanic etc.. So the Gov put on pressure to make the loan…
Its just like going out in the woods to feed the coyotes,
next thing U know were over run with mice..
U have to leave the natural order alone, hardworking smart people well survive, lazy dumb ones will end up in jail, education is the only KEY….