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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: 121583
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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#23. To: Capitalist Eric (#13)
(Edited)
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
Did you go to the same school that Boofer did? And ownership is different from being a creditor.
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." That's the position of the Catholic Church...
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." Is that the best you can do? Also your abortion numbers are way off. We had way more abortions than you mentioned.
There's only one country you never criticize. It's not the USA.
You really are 'goofy'.
Proxy IP's are amusing.....lmao
In the case of GM, they simply used an equity line from the TARP program to pay off their bailout. That’s just a shift from one government bailout program to another, however the latter doesn’t contain the strings the specified automaker bailout did. Then there is the separate case of the $50 billion dollar bridge loan based upon stock valuations as well yet to come. Chrysler didn’t use TARP money, rather they simply swapped out the government loan with private investor equity lines with far preferable terms. They still owe the same amount, only with much less interest in the future. In short, nobody has paid off anything. It’s merely been shuffling of debt and accounting sleight of hand in order to generate favorable publicity and remove the government from its oversight role. I have no complaint with the latter at all. Government shouldn’t be in this business whatsoever anyway, I just disagree with the sales pitch. You're stupid.
Did Jews take your lunch money when you were a little girl?
That's how the current version of the US economy works. We are a debt driven economy, with debt now considered an asset. Why do you think the whole market now revolves around interest rates?
So war was wrong and I am right. Ok If someone owes you money. That should be an asset.
Actually I took my lunch to school but it definitely was not kosher. Sorry, I can see I dissed your idols again.
Ok If someone owes you money. That should be an asset. War said the TARP monies were paid off by the auto makers, which is true.
No war said in post 8 "The auto makers have paid the US back." You're playing semantics. They didn't pay back the money. If I supported anything to do with TARP. It would be to save the automakers. So I don't give anyone to hard a time about that one. But it isn't accurate to say that the automakers loans are repaid.
Blah blah blah... There are no outstanding debts owed to the US by the automakers... You were wrong again, Stone...courtesy of me... But thanks for once again showing what you are...incapable of admitting error...
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." I knew he wouldn't admit to being wrong...
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." They took out one govt loan to pay another one. They are still in debt to US govt. Unfortunately. Are you really that dumb? Or is it an act?
The US owns an equity stake in GM, Stone. Ownership is different from being a creditor. What I stated was 100% correct and, what's worse, is you know it. Quick: Tell me I support murdering babies and delete a post. It's you at your "best".
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." Are you really that dumb? Or is it an act? The context mentioned for the original quote in case you can't read was the stimulus monies.
You support murdering babies. I'm not going to delete your nonsense. I want everyone to see it. Hey at least you like AC/DC and Star Trek. We can agree on that.
"So are you for or against the death penalty?????" -- CZ82 Don't glom my words together with someone else's. Indicate whom you quote.
I have never been for the Death Penalty. I have always opposed it, consistently, as long as I have had a view on it.
Okay...I laughed... True...
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." What was the unemployment rate when the stimulus was passed? What is it now, 2 1/2 years later? Only a dumbass would conclude there was anything successful about it. Economies typically recover a lot more robustly when NOTHING is done.
Now, I know I’m not going to change the minds of any of the True Believers…those who read all of Reverend Al’s sermons, and say things like, “You know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, …”. Can I get an ‘amen’??
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--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.
#41. To: Thunderbird (#30)
Its [sic] not, and WTP still own a substantial chunk of General Motors
--GW Bush
#42. To: CZ82 (#40)
Being anti-abortion and anti-death penalty just doesn't make any sense.....
--GW Bush
#43. To: mininggold (#39)
Tea Partiers are so damned stupid.
#44. To: A K A Stone (#43)
so your abortion numbers are way off. We had way more abortions than you mentioned.
#45. To: lucysmom (#5)
Taken in perspective, Obama's economic policies look pretty successful.
#46. To: war (#38)
#47. To: mininggold (#44)
There's only one country you never criticize. It's not the USA.
#48. To: A K A Stone (#46)
In the case of GM, they simply used an equity line from the TARP program to pay off their bailout. That’s just a shift from one government bailout program to another, however the latter doesn’t contain the strings the specified automaker bailout did. Then there is the separate case of the $50 billion dollar bridge loan based upon stock valuations as well yet to come.
#49. To: mininggold (#48)
#50. To: A K A Stone (#47)
Did Jews take your lunch money when you were a little girl?
#51. To: A K A Stone, war (#49)
(Edited)
So war was wrong and I am right.
#52. To: mininggold, war (#51)
War said the TARP monies were paid off by the auto makers, with is true.
#53. To: A K A Stone (#46)
--GW Bush
#54. To: mininggold (#50)
--GW Bush
#55. To: war (#53)
#56. To: A K A Stone (#55)
--GW Bush
#57. To: A K A Stone (#55)
They took out one govt loan to pay another one. They are still in debt to US govt. Unfortunately.
#58. To: war (#56)
#59. To: A K A Stone (#34)
"You are for the death penalty thus are anti-life. Quit pretending you are anything else. Your black and white logic cuts both ways." -Ferret Mike
#60. To: CZ82 (#32)
"So are you for or against the death penalty?????"
#61. To: A K A Stone (#58)
Hey at least you like AC/DC and Star Trek. We can agree on that.
--GW Bush
#62. To: war (#24)
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