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Hillary surprised small business growth has stalled

Hillary surprised small business growth has stalled

Just when you thought Hillary couldn’t possibly be *more* out of touch…

Perhaps Mrs. Clinton should read the newspapers like the current White House occupant, then she might find her self a bit more informed about the goings on in the country she hopes to rule run.

Speaking in Keene, New Hampshire yesterday, Hillary said:

“From my perspective, I want to be sure that we get small businesses starting and growing in America again. We have stalled out. I was very surprised to see that when I began to dig into it. Because people were telling me this as I travelled around the country the last two years, but I didn’t know what they were saying and it turns out, we’re not producing as many small businesses as we used to, and a recent world study said that we are forty-sixth in the world in the difficulty to start a small business. And we’ll get into some of those.”

Um, what?

94142-exsqueeze-me-baking-powder-gif-6HMQ

More than 200,000 small businesses were lost between 2008 and 2010, and we’ve yet to recover.

gallupchart

What a fabulously elite life Hillary must lead if she’s only now discovering the plight of the plebes.

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“Don’t let anyone tell that, ah, you know, it’s corporations and businesses that create jobs,” Hillary Clinton proclaimed to loud applause at a political rally in Boston on October 24.

“You know that old theory — trickle-down economics,” she continued. “That has been tried. That has failed. It has failed rather spectacularly.”
—Ol’ Walleys Clinton

When told [in 1994, that Hillarycare, the prototype for Obamacare] could bankrupt small businesses, Mrs. Clinton sighed, “I can’t be responsible for every undercapitalized small business in America.” When a woman complained that she didn’t want to get shoved into a plan not of her choosing, the first lady lectured, “It’s time to put the common good, the national interest, ahead of individuals.”
—Ol’ Walleys Clinton

IF you think this lying old thug has ANY appreciation for American small business, you deserve to have her CONTINUE to crush the American economy in line with Pres. ScamWOW.

Hillary’s Middle Class Economic Program –

“Everyone gets to build a gold mine in Haiti and…
I will teach online Webinars on Investing In Chicken Futures!”

wow, can’t slip anything past her, no siree. Last week she noticed trucks on I-80!

“…travelled around the country the last two years.” Not much to see between the door on the Gulfstream and the door on the limo.

Pathetic.

Ex…cellent gif.

Maybe, as a way to find some modicum of perspective, Hillary should spend some time watching the jets landing at Chicago’s O’Hare field (just like I did with my dad as a kid)instead of using the “Delete” key to enter the WH.

BTW: I figured that there was alien life out there, for real. I just didn’t think that Sigourney Weaver would have to reprise her role as Ellen Ripley to do battle with the ‘thing’ from Washington.

Sammy Finkelman | April 21, 2015 at 2:19 pm

Because people were telling me this as I travelled around the country the last two years

A “likely” story.

This is even less believeable than claiming to learned something by reading it in the newspapers.

But she’s got to explain why she suddenly noticed this.

So, she was talking to people, and finally decided to check it out, and did some independent research, all by herself, because she never relies on all the aides that she has, or any Ph.D. in economics that she might happen to consult.

I don’t know how she can’t hear how stupid she sounds when she says, “I’ve been hearing this for 2 years but didn’t know what it meant UNTIL JUST NOW.” Can we translate this? “I have no clue what small business is or does for our economy. I barely know what an economy is, unless it’s all about money changing hands, in which case, I guess the US economy is like the Clinton Foundation, only smaller.”

Perhaps Valerie Jarrett will show Hillary how to prepare to rule from day one of her reign!

Sammy Finkelman | April 21, 2015 at 2:30 pm

And does she have any explanation of the cause? Or a solution? Or is this something she intends to work on once she gets elected president?

I’m sure she has been told half a dozen different ecplanations of the cause, none of which she wants to use. Nor does she want to cite any source of knowledge that would have an proposed explanation.

The biggest or most obvious cause probably would be that banks have tightened lending standards to businesses, partially as a result of government banking regulations imposed as a result of the financial crisis of 2008.

http://smallbusiness.house.gov/news/documentsingle.aspx?DocumentID=247057

….Along with Dodd-Frank, many financial institutions are facing increasing pressure from federal regulators. This increased pressure has the potential to hamper small business lending, since some regulators are taking a disproportionally stringent view of small business lending and loan performance.

“One of the biggest issues faced by small businesses is the inability to access sufficient credit and capital to hire employees and invest in their company,” said Walsh. “The Dodd-Frank Act is a massive regulatory reorganization that contains requirements for over 240 new rulemaking actions and will cost $1 billion to implement. The new regulatory environment created by Dodd-Frank has caused uncertainty on behalf of both bankers and business owners, which leads to less lending to small business and less desire to take on additional capital.

Henry Hawkins | April 21, 2015 at 2:32 pm

I’m sure Ms. Clinton was too busy f**king up US foreign policy to notice any problems on the US domestic front. Besides, the domestic side was already being professionally f**ked up by others in the Obama adminstration, so her oversight is understandable and forgivable.

Ms. Clinton retains the stench of inevitability and all is well within the Walled Streets.

    Sammy Finkelman in reply to Henry Hawkins. | April 21, 2015 at 2:45 pm

    She exempts the period when she was Secretary of State as a time when she was busy with other things.

    She says two years to mean since she’s left her job as Secretary of State. Supposedly, she started talking to ordinary people then, but supposedly she didn’t believe what they were telling her about small businesses not growing (like who was telling her this?) but now she’s checked it out.

Sammy Finkelman | April 21, 2015 at 2:40 pm

There have been more bank mergers, so fewere banks that make loans, and the fixed cost of originating a loan has gone up.

http://moritzlaw.osu.edu/students/groups/oseblj/files/2013/07/13-Padgett.pdf

THE NEGATIVE IMPACT OF BASEL III ON SMALL BUSINESS FINANCING

SARAH PADGETT*

    Sammy Finkelman in reply to Sammy Finkelman. | April 21, 2015 at 2:52 pm

    From the PDF (this is talking about how risky small business loans are being considered (as compared, let’s say, to government or corporate debt)

    B. Small and New Businesses Will Be Assigned High Risk Weights

    The new regulations will not only disproportionately affect community banks, but also they will disproportionately impact SMEs and startup companies. Small businesses and individuals will be ascribed a retail risk rating of 75%, provided the bank’s retail portfolio is diverse and no loan
    exceeds one million Euros.

    Banks were anticipating rules very simliar to Basel III being used in the USA.

    http://www.federalreserve.gov/newsevents/press/bcreg/20131206a.htm

    Release Date: December 6, 2013

    For immediate release

    The Federal Reserve Board on Friday issued a final rule that makes technical changes to the Board’s market risk capital rule to align it with the Basel III revised capital framework adopted by the Board earlier this year.

Midwest Rhino | April 21, 2015 at 2:52 pm

Hillary: “You know Bill could help your small businesses. Why don’t you call him and arrange for one of his $10 million instructional one hour speeches. If I’m elected, I guarantee that business will boom. And bring your checkbook to one of our foundation’s galas, so we can discuss the details.”

Sammy Finkelman | April 21, 2015 at 2:57 pm

Not on Hillary’s reading list:

https://www.clevelandfed.org/Newsroom%20and%20Events/Publications/Economic%20Commentary/2013/2013-10%20Why%20Small%20Business%20Lending%20Isnt%20What%20It%20Used%20to%20Be

Different views have emerged about the cause of the slowdown. Bankers say the problem rests with small business owners and regulators—business owners for cutting back on loan applications amid soft demand for their products and services, and regulators for compelling the banks to tighten lending standards (which cuts the number of creditworthy small business owners).

Small business owners, in turn, say the problem rests with bankers and regulators—bankers for increasing collateral requirements and reducing their focus on small business credit markets, and regulators for making loans more difficult to get. …

…Because none of these factors is the sole cause of the decline in small business credit, any proposed intervention needs to take into account the multiple factors affecting small business credit.

..The Demand-Side Problem…

…Small Businesses Are Less Creditworthy Than They Used to Be…

…Lending Standards Have Tightened…

…It’s Not All about the Financial Crisis and the Great Recession…

…Conclusion

No one disputes the decline in the amount of small business credit since the financial crisis and Great Recession. The most recently available data put the inflation-adjusted value of small commercial and industrial loans at less than 80 percent of their 2007 levels…

…This confluence of events makes it unlikely that small business credit will spontaneously increase anytime in the near future. Given the contribution that small businesses make to employment and economic activity, policymakers may want to intervene to ensure that small business owners can access the credit they need to operate effectively. When considering means of intervention, however, it is important for policymakers to understand and take into account the multiple factors affecting small business credit. Any proposed solution needs to consider the combined effect of these factors.

Sammy Finkelman | April 21, 2015 at 3:01 pm

And Hillary Clinton wants to pretend that she learned about this decline from talking to non-economists in the last two years and then what?

Asking the New York Public Library reference service if statistics bear out if it’s true??

Henry Hawkins | April 21, 2015 at 4:13 pm

LI’s getting 50 posts per day and 49 of them are Sammy, lol.

    Not A Member of Any Organized Political in reply to Henry Hawkins. | April 22, 2015 at 1:54 pm

    Please Do Not Feed the Trolls!

    It just makes them flop about and crap all over the place more!

    Snark Snark!

    (Ever notice how they’re only on certain post though? They’ve got “no agenda”….snark snark.)

Phillep Harding | April 21, 2015 at 7:08 pm

Is she so used to failure that succeeding takes her by surprise?

franciscodanconia | April 21, 2015 at 8:42 pm

H. Clinton paid a visit to a friend’s contract manufacturing firm here in Rochester, back in ’02. He thought that with the publicity, and a recent business name change, that somehow her star power would get him more business.

Her visit had the reverse Midas Touch, the company is a shadow of what it was circa 2000 or so. My buddy’s delusions are a metaphor for many here in America, or what’s left of it.

I remember she promised to bring jobs to Upstate, NY, and I of course laughed heartily about it within newsgroups on UseNet in 2000. The only jobs she “brought” were bureaucrat ones within DHS, namely border patrol positions, and some Lockheed and Sikorsky jobs. The Sikorsky/Lockheed deal all but went bust, in the last several years, and border patrol jobs are even less value-added than M-I-C ones.

She doesn’t have the faintest clue what it takes to run a small business, but considering how fickle Americans can be when it comes to voting, chances are she’ll be the next prez.

The beast would be surprised that Obama has put over 94 million people out of work in his time in office. Will “she” also be surprised that someone else knows how to “cook the books” in the way they handled the statistics coming out of the Labor Dept.? Maybe she’ll bring in her green eye-shade folks from the foundation? Money laundering skills will be very helpful if she completes her evil plan for the White House. God help America — PLEASE!

Maybe they should try opening up private equity to non-accredited investors. The SEC has done its best to neuter Title III, and NASAA is doing its best to make Tier 1 of Regulation A+ useless when it’s not lobbying to rescind the private equity provisions of the JOBS Act.

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