[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Utopian Visionaries Who Won’t Leave People Alone

No - no - no Ain'T going To get away with iT

Pete Buttplug's Butt Plugger Trying to Turn Kids into Faggots

Mark Levin: I'm sick and tired of these attacks

Questioning the Big Bang

James Webb Data Contradicts the Big Bang

Pssst! Don't tell the creationists, but scientists don't have a clue how life began

A fine romance: how humans and chimps just couldn't let go

Early humans had sex with chimps

O’Keefe dons bulletproof vest to extract undercover journalist from NGO camp.

Biblical Contradictions (Alleged)

Catholic Church Praising Lucifer

Raising the Knife

One Of The HARDEST Videos I Had To Make..

Houthi rebels' attack severely damages a Belize-flagged ship in key strait leading to the Red Sea (British Ship)

Chinese Illegal Alien. I'm here for the moneuy

Red Tides Plague Gulf Beaches

Tucker Carlson calls out Nikki Haley, Ben Shapiro, and every other person calling for war:

{Are there 7 Deadly Sins?} I’ve heard people refer to the “7 Deadly Sins,” but I haven’t been able to find that sort of list in Scripture.

Abomination of Desolation | THEORY, BIBLE STUDY

Bible Help

Libertysflame Database Updated

Crush EVERYONE with the Alien Gambit!

Vladimir Putin tells Tucker Carlson US should stop arming Ukraine to end war

Putin hints Moscow and Washington in back-channel talks in revealing Tucker Carlson interview

Trump accuses Fulton County DA Fani Willis of lying in court response to Roman's motion

Mandatory anti-white racism at Disney.

Iceland Volcano Erupts For Third Time In 2 Months, State Of Emergency Declared

Tucker Carlson Interview with Vladamir Putin

How will Ar Mageddon / WW III End?

What on EARTH is going on in Acts 16:11? New Discovery!

2023 Hottest in over 120 Million Years

2024 and beyond in prophecy

Questions

This Speech Just Broke the Internet

This AMAZING Math Formula Will Teach You About God!

The GOSPEL of the ALIENS | Fallen Angels | Giants | Anunnaki

The IMAGE of the BEAST Revealed (REV 13) - WARNING: Not for Everyone

WEF Calls for AI to Replace Voters: ‘Why Do We Need Elections?’

The OCCULT Burger king EXPOSED

PANERA BREAD Antichrist message EXPOSED

The OCCULT Cheesecake Factory EXPOSED

Satanist And Witches Encounter The Cross

History and Beliefs of the Waldensians

Rome’s Persecution of the Bible

Evolutionists, You’ve Been Caught Lying About Fossils

Raw Streets of NYC Migrant Crisis that they don't show on Tv

Meet DarkBERT - AI Model Trained On DARK WEB

[NEW!] Jaw-dropping 666 Discovery Utterly Proves the King James Bible is God's Preserved Word

ALERT!!! THE MOST IMPORTANT INFORMATION WILL SOON BE POSTED HERE


Status: Not Logged In; Sign In

Economy
See other Economy Articles

Title: Obama Economy Worse Than 1970s
Source: PU
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: 117472
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.

Post Comment   Private Reply   Ignore Thread  


TopPage UpFull ThreadPage DownBottom/Latest

Begin Trace Mode for Comment # 25.

#20. To: CZ82 (#0) (Edited)

Obama Economy Worse Than 1970s

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.

jwpegler  posted on  2011-05-29   20:36:27 ET  Reply   Untrace   Trace   Private Reply  


#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.

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.

Capitalist Eric  posted on  2011-05-29   23:12:19 ET  Reply   Untrace   Trace   Private Reply  


Replies to Comment # 25.

        There are no replies to Comment # 25.


End Trace Mode for Comment # 25.

TopPage UpFull ThreadPage DownBottom/Latest

[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Please report web page problems, questions and comments to webmaster@libertysflame.com