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Title: Obama Economy Worse Than 1970s
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URL Source: http://patriotupdate.com/articles/obama-economy-worse-than-1970s
Published: May 29, 2011
Author: Floyd Brown
Post Date: 2011-05-29 08:53:25 by CZ82
Keywords: None
Views: 121587
Comments: 113
Obama Economy Worse Than 1970s Written on May 28, 2011 by Floyd Brown The worst economic conditions in recent memory were during the Jimmy Carter era of stagflation. Stagflation was a term coined in the 1970s to describe high unemployment with high inflation. Stagflation is back. Translation: America’s middle class is getting poorer; a record number of middle class workers are out of work. If you are lucky enough to have a job, your wages aren’t going up, but you are facing higher prices for everything. “Recent data suggests that the current economic recovery is both sluggish and slowing with unemployment stubbornly high,” this from a page one story in Investor’s Business Daily. The Obama/ Bernanke partnership has been a bust. The Fed is winding down Ben Bernanke’s experiment in money printing called “QE2”. He trumpets his success saying that QE2 has pointed the U.S. economy “in the right direction.” But did it really? It turns out that QE2 has created maybe 700,000 full-time jobs, but at a cost of about $850,000 for each job. All QE2 did was create a boom in the stock market. Wall Street bankers reaped millions while the average investors barely madeback some small amount of the money that they lost during the 2008 crash. We believe this boom is an easy money mirage, as MarketWatch.com reports, “But even the stock market boom hasn’t been what it appears. An analysis shows that most of the rise in the Standard & Poor’s 500 Index under QE2 has simply been a result of the decline in the dollar in which shares are measured.Measured in hard currencies, the stock market boom has been much less impressive. In Swiss francs, the S&P has risen by just 8.4% since Aug. 27. In currencies like the Swedish krone and Australian dollars it’s even less. Measured in gold, the S&P 500 is up just 4.5%.” QE2 has had little visible effect on the real economy. Over the same period, the number of part-time workers has gone down by 600,000. In other words, we’ve basically shifted 600,000 or 700,000 workers from part-time jobs to full-time jobs. Marketwatch.com continues: “The percentage of the population in work is actually lower today – 58.4%, compared to 58.5% last August. The percentage of the work force in actual work, the so-called ‘participation rate,’ has fallen by half a percentage point.” Housing is no better because of QE2, April housing starts fell 11%. Marketwatch.com says, “Housing is double-dipping. According to the National Association of Realtors, the average price of an ‘existing’ home was $177,300 in August, just before QE2. Now it’s $163,700 – or 8% less.Economic growth has slowed. It was 2.6% last summer. It’s a miserable 1.8% now.Meanwhile inflation has risen, from 1.2% before QE2 to 3.1% now.” We all wish for better news, but Obama’s policies are pointing us in the wrong direction. Regulation of business is growing. One CEO of a mining firm we talked with said he is looking for new projects abroad. “I have been fighting for nearly a decade to open a new mine in Montana, and at every turn the government places roadblocks in my way. How am I to create any jobs?” If Obama’s tax policies are enacted then we could see marginal income tax rates of 60% in some states. Obama clings to socialism and his new programs in healthcare and welfare. They all retard growth. Unemployment taxes are at record highs in most states and this further depresses hiring. The Fed has invested nearly $2 trillion in Treasury debt since 2008. The investment hasn’t paid off, but when the relentless buying of US Treasury debt ends, we have no similar experience to guide us. One result could be even further collapse and a full blown depression.
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#1. To: CZ82 (#0)
The middle class has been getting poorer (while the rich have been getting richer) since 1975. Since 1975, practically all the gains in household income have gone to the top 20% of households. CIA World Factbook But darn, we could always live on credit.
It is our responsibility to protect that child once that child’s born too. When we start debating a budget, let’s make sure we don’t cut 100,000 vaccines. Let’s make sure we’ve got health insurance. We seem to worship what we cannot see, but as soon as that baby’s born, oh no, we don’t want to be intrusive. Texas is going to shrink government until it fits inside a women’s uterus. Senator Leticia Van de Putte
Unemployment wasn't high during the Carter administration and the economy grew for most of his term. Stagflation was coined during the latter part of Nixon into Ford.
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." Since 1975, practically all the gains in household income have gone to the top 20% of households. CIA World Factbook But darn, we could always live on credit. Doesn't change the simple undeniable fact, goofy. Owe-bama's economic policies, such as they are, have failed spectacularly. And thats why he's going to get fired in a landslide next year.
Proxy IP's are amusing.....lmao
According to The National Bureau of Economic Research (they're the guys tasked determining the official beginning and end of economic downturns), the recession began in December of 2007. The housing downturn began in 2006. Clearly Obama's economic policies did not cause this recession.
It is our responsibility to protect that child once that child’s born too. When we start debating a budget, let’s make sure we don’t cut 100,000 vaccines. Let’s make sure we’ve got health insurance. We seem to worship what we cannot see, but as soon as that baby’s born, oh no, we don’t want to be intrusive. Texas is going to shrink government until it fits inside a women’s uterus. Senator Leticia Van de Putte
For youse guys who long for the good old days, the longest recession in US history began in October 1873 and ended March 1879, a total of 65 months. The Great Depression was 43 long months - this recession began December 2007 and ended June 2009, 18 months. Since 1865 we've had 7 recessions that have lasted longer than 18 months. Taken in perspective, Obama's economic policies look pretty successful. It is our responsibility to protect that child once that child’s born too. When we start debating a budget, let’s make sure we don’t cut 100,000 vaccines. Let’s make sure we’ve got health insurance. We seem to worship what we cannot see, but as soon as that baby’s born, oh no, we don’t want to be intrusive. Texas is going to shrink government until it fits inside a women’s uterus. Senator Leticia Van de Putte
Caused by high oil prices although I notice the spinning of that is now in full swing.
Yepper. Idea hatched by Kissinger and Nixon so that Iran et al could purchase more weaponry. It is absolutely 0 coincidence that the run up in oil coincided with the winding down of VietNam and increased military purchases by mid-east countries. If you've ever wondered why Israel's relationship with Iran is so covertly cozy, despite the rhetoric, look no further than their business ties which go back to the Shah.
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." The stim was too shallow but, even so, did what a good portion of what it was supposed to do which was to halt the recession and restart growth. The auto makers have paid the US back. Or are you referring to his agreeing to extend the moronic Bush era tax cuts?
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." some folks look at January of 2009 when the U.S. economy shed 700k jobs as "the good old days"
"Thats because your basically and idiot." Yep, even the current GOP front-runner for President is trying to claim credit now for the auto-bailout.
"Thats because your basically and idiot." Jimmiah gets right into it with "executive orders and decisions made directly by ME". Like hObama, he don't need no stinking congress! The tax rate was 70% under Carter. hObama's pushing for 62%, but that should be more than enough to destroy America, building on the Bush disaster. We're screwed, unless we get rid of the Democrats and Republicans real quick.
Obama's watch stopped on 24 May 2008, but he's been too busy smoking crack to notice.
We're screwed, unless we get rid of the Democrats and Republicans real quick Same as Nixon. But nobody has Eisenhower beat with 91%.
Uh-HUH. So you're a die-hard Keynesian, just like "Helicopter Ben" Bernanke. Complete and utter bullshit. Blue represents REAL numbers, with the government manipulations removed. Red represents government propaganda: Notice that, even with "the stim," the GDP never even makes it back to positive. In fact, we've been in a downward spiral for a LONG time, which any moron on the street already knows. Bottom line is quite simple: "the stim" NEVER caused "growth," but simply lined the banksters pockets. That you would promote such gross and wholesale theft, tells me who YOU are... a shill, and an idiot. Let's look at inflation... The money-printing that you so DEARLY love: Since the inflation rate has hovered around 10% for the last five years, this means that prices of goods have gone up (on average) ~61%, in just five years... Oh, yeah, we ARE seeing the effects of your Keynesian philosophies... 'Nuff said on THAT. Of course, no economy can survive when the workforce doesn't work... So what about unemployment? As before, blue is the reality, red is the government propaganda, which only a shill or idiot would believe: As I have just shown with a few simple graphs (that you'll attack, but NOT be able to successfully refute in any way), the economy has NOT "recovered," but continues its downward slide into oblivion- just as Bernanke and the rest of the globalist banksters want. After all, they're after a world-wide central bank, to control ALL economies, and gain more power... But to do that, they must destroy the dollar (and as an end-result, the American economy). Basically, they're applying the Cloward-Piven strategy on a national level. Thanks for playing.
List of those unable to think: Bumper sticker on DwarF's car: THIS is the key, regarding the stock market. Since gold has not appreciated in a like manner to the real inflation rate, it'd be interesting to see how it does against REAL inflation, not the government lies. Of course, a gain of only 4.5% doesn't even the risk premium of investing- especially in current economic times... So investing in the S&P 500 is simply a loser. My wife told me to start investing back in 2007, and I flatly refused. Instead, I bought silver. Unfortunately, I didn't buy as much as I should have. Had I done so, my money would have quadrupled... Compared to the paltry 20% gain in the S&P. (((sigh)))
List of those unable to think: Bumper sticker on DwarF's car: So running up even more debt to give kickacks to the Kenyan's political allies would be such a great idea. The stimulus was an abysmal failure by any measure. The economy should have recovered much stronger and faster if NOTHING had been done.
Now, I know Iâm not going to change the minds of any of the True BelieversâŚthose who read all of Reverend Alâs sermons, and say things like, âYou know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, âŚâ. Can I get an âamenâ??
Unfortunately you, or anyone else, can't prove that. You are welcome to your opinion, however, just as long as it doesn't become policy.
It is our responsibility to protect that child once that child’s born too. When we start debating a budget, let’s make sure we don’t cut 100,000 vaccines. Let’s make sure we’ve got health insurance. We seem to worship what we cannot see, but as soon as that baby’s born, oh no, we don’t want to be intrusive. Texas is going to shrink government until it fits inside a women’s uterus. Senator Leticia Van de Putte
All one has to do is look at the history of recoveries.
Now, I know Iâm not going to change the minds of any of the True BelieversâŚthose who read all of Reverend Alâs sermons, and say things like, âYou know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, âŚâ. Can I get an âamenâ??
Agreed. Which is one reason he will get my vote again in November 2012.
and?
It is our responsibility to protect that child once that child’s born too. When we start debating a budget, let’s make sure we don’t cut 100,000 vaccines. Let’s make sure we’ve got health insurance. We seem to worship what we cannot see, but as soon as that baby’s born, oh no, we don’t want to be intrusive. Texas is going to shrink government until it fits inside a women’s uterus. Senator Leticia Van de Putte
No, during Carter we had 17% inflation and 21% home mortgage interest rates, plus similar unemployment figures compared to today. Also, according to Carter's own National Security Advisor (Zbigniew Brzezinski) Carter was paralyzed into inaction by the Iranian hostage situation. Obama had bin Laden shot in the face. We are in a dire situation today because of the mounting debt. The economy will get worse as a result. As bad as things currently are, we are in a lull before the storm.
the stim ...did what a good portion of what it was supposed to do which was to halt the recession and restart growth. Complete and utter bullshit. The real purpose of the stimulus was to give money to state and local governments to keep their "UNION" employees working!!!!!! If they stayed working then the Democrats knew they would get their money back in the way of campaign contributions..... The only shovel ready projects out there were........ "I love the 45 caliber M1911, I respect the 9MM M9 Beretta but I only carry a CZ for my own personal protection". Quote courtesy of Lt Col John Dean Cooper, recognized as the Father of Modern Handgunning
Darn, someone needs to clue them in... the real American way is to make sure those Chinese workers are taken care of first.
Don't post bullshit that you are neither able to defend nor explain, Erica.
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." I don't know who the Kenyan is, Earache. The stimulus was an abysmal failure by any measure. Bullshit.
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." This is an elegant summary. Pity that so few on this forum- much less the country at large- grasp this. Their learning curve will be very steep.
List of those unable to think: Bumper sticker on DwarF's car: That's a lie. Unemployment Rates in 1980 January 1980 - 6.3% America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." Unemployment Rates in 1979 January 1979 - 5.9% America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." I don't believe that is true.
Isn't 4 years of baby murders on your hands enough? You're not anti abortion. Quit pretending.
Its not, and WTP still own a substantial chunk of General Motors
You are for the death penalty thus are anti-life. Quit pretending you are anything else. Your black and white logic cuts both ways.
Your black and white logic cuts both ways. So are you for or against the death penalty?????
"I love the 45 caliber M1911, I respect the 9MM M9 Beretta but I only carry a CZ for my own personal protection". Quote courtesy of Lt Col John Dean Cooper, recognized as the Father of Modern Handgunning
Why do you think the Panic of 1873 ended in 1879, LM.
Your black and white logic cuts both ways. So are you for or against the death penalty????? Ferret is against the death penalty. You could have a man kill 50 women and children on video. He could cut all their heads off. Then kill 100 ferrets. Ferret Mike would see the video and still be against the death penalty. He votes for a creature that kills innocent life in the womb. But if someone murdered and it is clear. He still would let them live while Obama is enforcing the death of millions of little cute babies. He would smile the whole time too.
Its not, and WTP still own a substantial chunk of General Motors War. Are you a liar to stupid? If you think you are right prove it and you can call me stupid.
Mike has stated many times over that he is anti-abortion.
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." Can you translate that into something resembling English please? Thanks.
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." Chrysler Pays Back Rescue Loan By BILL VLASIC Published: May 24, 2011 DETROIT — Chrysler paid back on Tuesday $7.6 billion in loans from the American and Canadian governments, paving the way for its Italian partner, Fiat, to increase its control over the Detroit carmaker. ~~~~~~~~~~~~~~~~~~~~ GM pays back loans from U.S., Canada ETROIT (AP) — General Motors Co. has repaid the $8.1 billion in loans it got from the U.S. and Canadian governments, a move its CEO says is a sign automaker is on the road to recovery. GM CEO Edward Whitacre Jr. will formally announce the loan paybacks Wednesday at the company’s Fairfax Assembly Plant in Kansas City, Kansas, where he will also announce that GM is investing $257 million in that factory and the Detroit-Hamtramck plant, both of which will build the next generation of the midsize Chevrolet Malibu. GM got a total of $52 billion from the U.S. government and $9.5 billion from the Canadian and Ontario governments as it went through bankruptcy protection last year. The U.S. considered as a loan $6.7 billion of the aid, while the Canadian governments held $1.4 billion in loans. The U.S. government payments, made Tuesday, came five years ahead of schedule, and Mr. Whitacre said they are a sign that the automaker is on its way toward reducing government ownership of the company. The payments on the Canadian loans were also made Tuesday. ~~~~~~~~~~~~~~~ You're weclome.
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." He would smile the whole time too. Still the same Stone. Unable to argue the facts so you tell the whole world why Tea Partiers are so damned stupid. Your favorite country had 19000+ had abortions last year, with at least 5000 more under the table and countless more coming here to have the procedure. I have never heard one word from you condemning them. Here's a list of the countries you can move to: "Abortion illegal in all circumstances or permitted only to save a woman's life. South America: Brazil, Colombia, Chile, Dominican Republic, El Salvador, Guatemala, Haiti, Honduras, Mexico, Nicaragua, Panama, Paraguay, Venezuela, Sub-Saharan Africa: Angola, Benin, Central African Rep.Chad, Congo, C33;te d'Ivoire, Dem. Rep. of Congo, Gabon, Guinea- Bissau, Kenya, Lesotho, Madagascar, Mali, Mauretania, Mauritius, Niger, Nigeria, Senegal, Somalia, Tanzania, Togo, Uganda. Middle East and North Africa: Afghanistan, Egypt, Iran, Lebanon, Libya, Oman, Sudan (r), Syria, United Arab Emirates, Yemen. Asia and Pacific: Bangladesh, Indonesia, Laos, Myanmar, Papua New Guinea, Philippines, Sri Lanka. Europe: Ireland, Malta, Vatican City" Read more: http://wiki.answers.com/Q/In_wha...on_illegal#ixzz1NqcqNG3P">wiki.answers.com/Q/ In_wha...on_illegal#ixzz1NqcqNG3P
Being anti-abortion and anti-death penalty just doesn't make any sense..... I can see one but not the other.....
"I love the 45 caliber M1911, I respect the 9MM M9 Beretta but I only carry a CZ for my own personal protection". Quote courtesy of Lt Col John Dean Cooper, recognized as the Father of Modern Handgunning
Comments (41 - 113) not displayed.
Top • Page Up • Full Thread • Page Down • Bottom/LatestAmerica’s middle class is getting poorer; a record number of middle class workers are out of work.
#2. To: CZ82 (#0)
(Edited)
The worst economic conditions in recent memory were during the Jimmy Carter era of stagflation.
--GW Bush
#3. To: lucysmom (#1)
The middle class has been getting poorer (while the rich have been getting richer) since 1975.
#4. To: Badeye (#3)
Owe-bama's economic policies, such as they are, have failed spectacularly.
#5. To: Badeye, Fred Mertz, A K A Stone, hondo68, Fred Mertz, Godwinson, go65, war, no gnu taxes, Skip Intro, ferret mike, jwpegler, brian s, mcgowanjm, Capitalist Eric, Mininggold (#3)
Owe-bama's economic policies, such as they are, have failed spectacularly.
#6. To: war (#2)
Stagflation was coined during the latter part of Nixon into Ford.
#7. To: mininggold, lucysmom (#6)
--GW Bush
#8. To: Badeye (#3)
(Edited)
Owe-bama's economic policies, such as they are, have failed spectacularly.
--GW Bush
#9. To: lucysmom (#4)
According to The National Bureau of Economic Research (they're the guys tasked determining the official beginning and end of economic downturns), the recession began in December of 2007.
Badeye posted on 2011-04-29 10:30:22 ET
#10. To: war (#8)
The stim was too shallow but, even so, did what a good portion of what it was supposed to do which was to halt the recession and restart growth. The auto makers have paid the US back.
Badeye posted on 2011-04-29 10:30:22 ET
#11. To: CZ82 (#0)
(Edited)
Jimmy Carter - Fireside Chat - Feb. 2, 1977
"We (government) need to do a lot less, a lot sooner" ~Ron Paul
#12. To: hondo68 (#11)
he tax rate was 70% under Carter. hObama's pushing for 62%, but that should be more than enough to destroy America, building on the Bush disaster.
#13. To: war (#8)
The stim was too shallow...
the stim ...did what a good portion of what it was supposed to do which was to halt the recession and restart growth.
mcgowanjm, ferret mike, skippy, fartboy/yukko, white sands, bucky, lucys idiot mom, e_type_jackoff, go56, badlie, wreck, calCON, mininggold, war, Banjo Boris, Biff, Godwinson and meguro. If you're on the above list, you're too fucking stupid to hold a real conversation.
#14. To: CZ82 (#0)
Measured in gold, the S&P 500 is up just 4.5%.”
mcgowanjm, ferret mike, skippy, fartboy/yukko, white sands, bucky, lucys idiot mom, e_type_jackoff, go56, badlie, wreck, calCON, mininggold, war, Banjo Boris, Biff, Godwinson and meguro. If you're on the above list, you're too fucking stupid to hold a real conversation.
#15. To: war (#8)
The stim was too shallow
#16. To: no gnu taxes (#15)
The economy should have recovered much stronger and faster if NOTHING had been done.
#17. To: lucysmom (#16)
#18. To: lucysmom (#5)
"For youse guys who long for the good old days, the longest recession in US history began in October 1873 and ended March 1879, a total of 65 months. The Great Depression was 43 long months - this recession began December 2007 and ended June 2009, 18 months. Since 1865 we've had 7 recessions that have lasted longer than 18 months. Taken in perspective, Obama's economic policies look pretty successful."
#19. To: no gnu taxes (#17)
All one has to do is look at the history of recoveries.
#20. To: CZ82 (#0)
(Edited)
Obama Economy Worse Than 1970s
"Everything that can be invented has been invented."-- Charles Duell, Commissioner of US Patent Office, 1899
#21. To: Capitalist Eric (#13)
#22. To: CZ82 (#21)
The real purpose of the stimulus was to give money to state and local governments to keep their "UNION" employees working!!!!!! If they stayed working then the Democrats knew they would get their money back in the way of campaign contributions.....
#23. To: Capitalist Eric (#13)
(Edited)
--GW Bush
#24. To: no gnu taxes (#15)
So running up even more debt to give kickacks to the Kenyan's political allies would be such a great idea.
--GW Bush
#25. To: jwpegler (#20)
We are in a dire situation today because of the mounting debt. The economy will get worse as a result. As bad as things currently are, we are in a lull before the storm.
mcgowanjm, ferret mike, skippy, fartboy/yukko, white sands, bucky, lucys idiot mom, e_type_jackoff, go56, badlie, wreck, calCON, mininggold, war, Banjo Boris, Biff, Godwinson and meguro. If you're on the above list, you're too fucking stupid to hold a real conversation.
#26. To: jwpegler (#20)
...plus similar unemployment figures compared to today.
February 1980 - 6.3%
March 1980 - 6.3%
April 1980 - 6.9%
May 1980 - 7.5%
June 1980 - 7.6%
July 1980 - 7.8%
August 1980 - 7.7%
September 1980 - 7.5%
October 1980 - 7.5%
November 1980 - 7.5%
December 1980 - 7.2%
--GW Bush
#27. To: jwpegler (#20)
February 1979 - 5.9%
March 1979 - 5.8%
April 1979 - 5.8%
May 1979 - 5.6%
June 1979 - 5.7%
July 1979 - 5.7%
August 1979 - 6%
September 1979 - 5.9%
October 1979 - 6%
November 1979 - 5.9%
December 1979 - 6%
March 1979 - 5.8% April 1979 - 5.8% May 1979 - 5.6% June 1979 - 5.7% July 1979 - 5.7% August 1979 - 6% September 1979 - 5.9% October 1979 - 6% November 1979 - 5.9% December 1979 - 6%
--GW Bush
#28. To: war (#8)
The auto makers have paid the US back.
#29. To: Ferret Mike (#18)
Agreed. Which is one reason he will get my vote again in November 2012.
#30. To: A K A Stone (#28)
I don't believe that is true.
#31. To: A K A Stone (#29)
#32. To: Ferret Mike (#31)
You are for the death penalty thus are anti-life. Quit pretending you are anything else.
#33. To: lucysmom (#5)
1879
#34. To: CZ82, Ferret Mike (#32)
You are for the death penalty thus are anti-life. Quit pretending you are anything else.
#35. To: Thunderbird, war (#30)
I don't believe that is true.
#36. To: A K A Stone (#34)
--GW Bush
#37. To: A K A Stone (#35)
Are you a liar to stupid?
--GW Bush
#38. To: A K A Stone (#35)
--GW Bush
#39. To: A K A Stone (#34)
He votes for a creature that kills innocent life in the womb. But if someone murdered and it is clear. He still would let them live while Obama is enforcing the death of millions of little cute babies.
#40. To: war (#36)
Mike has stated many times over that he is anti-abortion.
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