Quote of the Day
“For a century or so, guided by brilliant private sector leadership, California was a beacon to the world, a land of opportunity such as never had existed in human history. Unimaginable wealth was created. Yet it required only 40 years of liberal governance to bring the whole thing crashing down. Today, California is the most spectacular failure of our time. Its government is broke. Productive citizens have been fleeing for some years now, selling their homes at inflated prices (until recently) and moving to Colorado, Arizona, Texas and even Minnesota, like one of my neighbors. The results of California’s improvident liberalism have been tragically easy to predict: absurd public sector wage and benefit packages, a declining tax base, surging welfare enrollment, falling economic production, ever-increasing deficits. Soon, California politicians will be looking to less glamorous states for bailout money. Things have now devolved to the point where California leads the nation in poverty.”
Quote of the Day
Filed under: economy, Obama Economy, Our Dear Leader, Politics
“…nobody’s worried about being overrun by Mexicans anymore, because what Obama’s doing to the U.S. economy will do more to stanch immigration from Mexico than any border fence.”
Quote of the Day
“Lower rates of taxation will stimulate economic activity and so raise the levels of personal and corporate income as to yield within a few years an increased – not a reduced – flow of revenues to the federal government.”
– President John F. Kennedy, January 17, 1963, Annual Budget Message to the Congress, fiscal year 1964
Note: Joe Biden is a bloody moron.
Let’s get Fiscal!
Obama Economy Chart of the day
Filed under: economy, Obama Economy, Our Dear Leader, Politics
Back in early August, I posted a chart that compared the GDP growth rate of inflation.
It showed that the GDP was growing slower than the rate of inflation, or to put it more simply, the money you have is losing value faster than the economy is growing.
It’s time for an updated version of that chart, since the Fed just reduced the GDP rate for Q2 2012 to 1.3%, not the 1.5% they projected back in early August.
As you can see, the economy under our Dear Leader’s regime is clearly going in the wrong direction.
Let us review the Obama Economy again
Filed under: economy, Obama Economy, Our Dear Leader, Politics
Let’s take a look at how well average Americans have done under the rule of our Dear Leader, Barack Hussein Obama.
Not too well it seems. The average house hold income in America is down 8.2% since our Dear Leader started occupying the White House and inflicting Keynesian economic polices on the American people.
This clearly is not the change most Americans were hoping for. The only sane course for American is to remove BHO from office on election day so the economy and the country can start moving the right direction on January 20, 2013.
Reynolds’ Law
“The government decides to try to increase the middle class by subsidizing things that middle class people have: If middle-class people go to college and own homes, then surely if more people go to college and own homes, we’ll have more middle-class people. But homeownership and college aren’t causes of middle-class status, they’re markers for possessing the kinds of traits — self-discipline, the ability to defer gratification, etc. — that let you enter, and stay, in the middle class. Subsidizing the markers doesn’t produce the traits; if anything, it undermines them.”
Economic Video of the Day
Filed under: economy, Obama Economy, Our Dear Leader, Politics, Video
Obamanomics 101, Understanding How the Obama Economy Works
Taking a look at the Obama Economy
Filed under: economy, Obama Economy, Our Dear Leader, Politics
It’s time again to take a look at the state of the US economy under the so called “guidance” of our Dear Leader.
As you can see we are still at an unemployment level that is much higher than what the Obama economic team promised us it would be if the federal government did nothing, and even higher still than what they claimed it would be if we passed the trillion dollar “stimulus” package. So, not only epic fail on the part of the Obama so called “economic team”, but actual evidence of incompetence is pretty damn clear.
It’s also pretty clear that they are trying to “cook the books” in order to hide their massive pooch screwing of the economy.
Let’s look at that unemployment number of 8.1% for August 2012. It dropped from 8.3%, with only 96,000 new jobs being added. As anyone who has been paying attention knows, you need to add at least 125,000 new jobs a month just to keep up with population growth. So America was short 29,000 jobs of breaking even. The reason the unemployment number when down is because the federal government stopped counting 368,000 Americans as being unemployed for a variety of reasons, none of which was that they became employed. One of the primary reasons that people dropped off the rolls of employed was that the people who were being counted exhausted their unemployment benefits. They are still unemployed, but the feds don’t count them anymore. So in the is case, the reduction in the “official” unemployment rate is an indication that things are getting worse, not better.
Need another example? The Egan-Jones credit rating agency just downgraded the US government’s credit rating. This is because the Obama regime has initiated a third round of “Quantitate Easing.” Incase you don’t know what that means, the Fed created $40 billion out of thin air and inserted that into the money supply. So you have more dollars chasing the same amount of goods. This is bad news for the American consumer. If you still don’t get it (i.e. you can’t repeal the Law of Supply and Demand), here is a helpful instructional video
An observation on political yards signs
Filed under: economy, Obama Economy, Politics, The Peoples Commonweath
As I drove around town this weekend I notices something very consistent with political yard signs.
Every small business, most independently owned, with a yard sign had signs for Scott Brown and/or Marty Lamb.
Scott Brown is running for re-election in the US Senate, on the Republican ticket and Marty Lamb is running for State Representative, also on the Republican ticket.
Senator Brown’s opponent is a Harvard law professor, who makes over $300,000 a year for teaching a single class and claims she “represents the people.” Elizabeth Warren is best known for falsely claiming to have Cherokee Indian ancestors and using that claim to obtain benefits as a minority.
Small business owners are intimately familiar with the negative effect democrats have had on the economy since taking control of Congress and the White House and clearly do not want that to continue