Congratulations moonbats. You managed to get your socialist leader reelected despite 7.9% unemployment (which is only that low because the active workforce measured by the feds has shrunk dramatically during our Dear Leader‘s first term), record long term unemployment, and anemic economic growth (a 2% GDP growth rate has been the growth ceiling and GDP growth rate has consistently been lower than the inflation rate).
I won’t go into how Obama managed to drag out a win against someone with an actual record of success. Plenty of posts out there covering that subject.
Let’s just look at the affect of the news of a second Obama term has had and will most likely have.
First there is the Wall Street reaction. Remember that Barry was the Wall Street Golden Boy back in 08, receiving record high donations from the Big Money folks. The day after the election results were known, the DOW dropped over 300 points and has shown no signs of recovery.
Now the democrat operatives with press credentials will try to tell you that the stock market plunge had nothing to do with the election results, and is purely a reaction to the looming “fiscal cliff.” Yes, they really do think you are that stupid. The on coming “fiscal cliff” has been known about for months. If it really didn’t matter who was going to occupy the White House come January 20, 2013, the market would have tanked prior to the election. Instead, while there was still a chance that someone who understands actual economic reality and was not addicted to Keynesian fantasy, would win on November 6, 2012, the market chugged along fine, maintaining a DOW of about 13000. Ignoring the timing of the 300+ point drop would be like ignoring the Simpson DNA. It requires believing in ideology more than the objective evidence of actual facts.
Besides watching the value of your 401K drop (OK, there are a lot of moonbats who don’t have a retirement plan other than depending on the government, but there are some who actually participate in the economy in ways other than being a leech), you may have noticed the round of layoff announcements that started cropping up on November 7, 2012. Boeing being one of the larger ones. Don’t worry kids, plenty more of those on the way. While there will be plenty of white collar layoffs, there is plenty of pain in store for those part time workers at the lower end of the economic scale. Even if a company that employs large numbers of part time employees can actually stay in business given the crippling costs of Obamacare, they will almost certainly capping the number of hours a single employee can work. They have to do that in order to avoid being penalized even more by the job killing, economy crippling, federal nightmare known as Obamacare. Why do you think all those Unions, which supported our Dear Leader, asked for and received exemptions from have to be subject to Obamacare?
Short term, unemployment is going to kick back up over 8% and will continue to rise (unless the fed reduces the size of the workforce they count even more drastically than they already have). For the next two years, 8% unemployment (with the U6 rating being in the 14%-16% range) will be the best you can hope for. The odds of GDP growth rate breaking though a 2% ceiling also run slim to none.
As a wise man cautioned me in my youth, “Be careful of what you wish for. You may get it.” Well moonbats, you got your wish of a socialist utopia. Welcome to it.
Oh ya, the only thing that could possibly make our Dear Leader‘s economic policies look good will be the results of his foreign policy. That is a topic for another day, though.