Let’s look at some economic news:
From Professor Reynolds, Three ways to actually do something positive about the economy.
The reality behind the current “low” unemployment numbers
Businesses quietly switch to dollar in socialist Venezuela. Add this to long list of socialism failures that socialists refuse to acknowledge.
Tags: economy, Obama economy, Politics, unemployment
One of the shining qualities of Creepy Uncle Joe, the current Vice-President, is that he will occasionally let the truth slip from his mouth.
Yup, the past six years have been really, really hard for America. That is what you get for letting an admitted socialist run the federal executive branch.
Let’s review the numbers. The last recession ended on July 1, 2009. We have had at least one single quarter of negative GDP growth since then, but it takes two or more in a row to count as a recession. That puts America over five and half years into a very lackluster “recovery,” which has often be described as “jobless.”
Historically, recoveries from recessions have been been as strong as the preceding recession was deep. Except for this current recovery. Instead of an actual recovery, we have the worst economy in over a half century.
Clearly, the so-called “economic policy” of our Dear Leader and the Congressional democrats have hindered economic growth, which is not a surprise to anyone paying the slightest bit of attention. It’s a tribute to the robustness of the American economic engine that there has been any growth under the Obama regime’s anti-growth policies of massive tax hikes, “wealth distribution”, and record setting levels of crippling federal debt ($18.1 Trillion and climbing).
Tags: Barack Obama, democrat, economy, Obama economy, Politics, recession, Worst President Ever
Dr. Charles Krauthammer makes the following astute observation:
“To understand the workings of American politics, you have to understand this fundamental law: Conservatives think liberals are stupid. Liberals think conservatives are evil.”
Example: Republican line: “Your Obama for President bumper sticker might as well say ‘I’m with Stupid.'”
Democrat article: Republicans are committing treason.
Of course the democrat op-ed is based on multiple false assumptions. Spotting them is left as an exercise to the reader.
Here is a hint. His grasp of economics is weak.
Tags: economy, leftist hypocrisy, Obama economy, Politics, quote, Quote of the Day
Here is a clear example of a decline in economic literacy to start with.
In the early sixties, you had the head of the democrat party saying things like:
“…an economy hampered by restrictive tax rates will never produce enough jobs or enough profits.” — President John F Kennedy
Here in the early 21st Century, we have a former, and probably future democrat candidate for President spouting nonsense like this:
Really, she said that. What’s worse is the moonbats who actually believe this nonsense.
Let’s go to the video.
It’s not just HRC, back in 2010, another democrat was stumped by the question, “How do you create a job?”
Tags: economy, Hillary Rodham Clinton, HRC, incompetent, leftist, Liberal Idiocy, Politics
“G.W. Bush was a fiscal loose cannon. Obama is a flaming fiscal train wreck colliding with a killer asteroid falling into a super massive black hole.”
Tags: Barack Obama, culture of corruption, democrat, economy, incompetent, Obama economy, Politics, Worst President Ever
Let’s start with the BLS unemployment numbers.
The U3 number for June 2014 was 6.1%. Now if you were paying attention, you would know that there was a net gain of over 200,000 jobs in June. Which is generally a good thing, since it was about double what is needed to just offset population growth. Anemic growth by other recovery standards, but pretty damn good in the Obama economy. If you were paying attention to the details, you wouldn’t be popping the corks on the bubbly yet. Those 200,000 new jobs were part of the 700,000 new part time jobs, offset by a loss of 500,000 full time jobs. Yup, in the Obama economy, full time work with benefits is out, and wearing a name tag and asking, “Would you like fries with that?” is in.
It gets worse for minorities. They key democrat voting blocks of blacks, hispanics, and the ‘youth vote’ have gotten the nasty end of the shafting in the Obama economy. These are the official government June unemployment numbers from the BLS. Look ’em up if you don’t believe ’em.
Hispanics: 7.8%
Blacks: 10.7%
Aged 16-19: 21.0%
You know that the overall 6.1% number is only so low because the feds have stopping counting more and more of the long term unemployed. “Not in the labor” force is at 92.2 million and still climbing. If they were added back in, that number would be comfortably in the double digits. So inflate the minority numbers by the same factor and you have 2 out of ten black Americans out of work.
Compare and contrast to the Reagan Recovery, where unemployment for minorities when down and their net income went up. To be honest, unemployment was down and net income was up for everyone. That is what you get when you have an economic policy geared for growth, rather than ‘income distribution.”
Tags: Barack Obama, economy, Obama economy, Politics, unemployment, Worst President Ever
This educational tale comes from Austin, Texas. A city known as a liberal stronghold in an otherwise sensible state.
The article quotes one Gretchen Gardner, an Austin artist, who has “…voted for every park, every library, all the school improvements, for light rail, for anything that will make this city better. But now I can’t afford to live here anymore. “
Why can Ms. Gardner no longer afford to live in Austin? Her property taxes have gone up in order to play every thing she voted for!
Here is a financial hint for Ms. Gardner, buses are always a better economic choice over light rail. Unless you are in the public service unions that will maintain and run the more expensive to build/maintain/operate light rail systems.
She wants a bigger government to be her nanny state, but like most leftists, wants someone else to pay for it.
Tags: economy, idiot, leftist hypocrisy, Politics, taxes
“Every business guy I know in the country is frightened of Barack Obama and the way he thinks.”
— Steve Wynn
Tags: Barack Obama, democrat, economy, incompetent, Obama economy, Politics, quote, Quote of the Day, Worst President Ever
One of the downsides of haven taken multiple graduate courses in economics, finance and accounting, is that I know more about the current state of the US economy than is probably good for me.
It also makes it painful to listen to people with absolutely no clue about economics or finance spout nonsense as gospel.
An all too common example is that we *need* inflation, because the increased spending will promote economic growth. This is wrong on multiple levels. First off, there are those economists that claim that inflation is a possible result of economic growth, not the other way around. In addition, those economists prefer academic models, since real world data so rarely supports their theories.
Then, as this article points out, if you have a basic understanding of the definitions of inflation, COGS, and economic growth, the idea of inflation being a driver of economic growth is nonsense.
Simply put, if you are spending more money for the same goods, because the money has less value, there is no economic growth because the exchange is still for the same value as before. If inflation has been increasing faster than economic growth, purchasing your basic goods will have a negative effect on the economy because you have less spending power left over for non-essential goods.
The worst part is, that all too often, after explaining this basic concept in simple terms, the idiots just stare at you and claim that you are wrong and justify that by repeating their false assertion!
Tags: economy
I’ve observed leftists getting all wee-weed up over somebody on Fox News Business saying “don’t be poor.”
When did the concept of bettering yourself and improving your lot in life become an idea that sensible people would find offensive?
It is certainly better advice that the moon-bat’s deity, Barack Hussein Obama has been giving to a big chunk of his voter base, i.e. “be poor.”
Just look at the numbers. Minority unemployment is at record highs. Unemployment levels for minority teens are at levels that would be a national crisis if a Republican was in the White House. Non participation in the work force is at record high levels (currently 91 million, up from 79 million in 2008) that haven’t been seen in 40 years (yup, the economy in our so called “recovery” is at Jimmy Carter Recession levels), the number of people on food stamps have doubled since our Dear Leader took office, the average income is down, not getting laid off is the new raise, food and fuel prices have risen dramatically, and we are still stuck in the unprecedented worst economic recovery since the Great Depression. As Mr. Reynolds says, “They told me that if I voted for Mitt Romney, the rich would get richer and the poor would get poorer, and they were right!” Let’s not forget the National debt, which is at $17.5 Trillion and rising.
Historically, booming recoveries after a recession have been a bi-partisan event. Reagan, Clinton, and G.W. Bush benefited from booming recoveries that historically follow a recession. How did Barry get stuck with a non-recovery? Simple, he worked very hard to strangle that recovery in its crib. Barry is much more interested in:
1: His golf game
2: His agenda of wealth distribution
than he is in doing anything that would actually help the US economy and the average US citizen. Sorry folks, if you are in, or want to be in, or used to be in, the middle class, you just aren’t in his core demographics.
Seriously, it takes a serious partisan avoidance of reality to take that much offense at someone saying to better your lot in life through self improvement.
Tags: Barack Obama, corruption, culture of corruption, democrat, economy, incompetent, leftist hypocrisy, Obama economy, Politics, Worst President Ever