My thoughts for 02/09/2010

Now this is our "nations finest" giving out some of the worst business advice out there that I can think of...

OBAMA: "The small businesses I've talked to and I've been talking to a lot of them as I have been traveling around the country, their biggest problem is right now they can't get credit out of their banks, so they're uncertain about that, and they're still uncertain about orders. You know, do they just have enough customers to justify them doing more? It's looking better at this point, but that's not the rationale for people saying I'm not hiring. Let me put it this way. Most small businesses right now, if they've got enough customers to make a profit and they can get the bank loans required to boost their payroll, boost their inventory and sell to those customers, they will do so."

Taken from transcript from Obama's press conference, Feb. 9, 2010

Now I'm no business major, but if I'm a small business owner that is making a profit in today's economy, the last thing I'm going to be looking to do is to borrow money from a bank to expand my payroll, so I can hire another employee. The funny thing about this too is that if you actually went to a bank and gave them that reason for wanting to borrow money from them, they'd probably laugh at you or think you were crazy...

Just another reason why Nov 2010 and 2012 can't come soon enough.