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.
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.
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
Nothing fancy, just tracking inflation and GDP for the first half of 2012 to see how our Dear Leader’s economic polices have been working out.
As you can see, what money you have left after taxes is loosing value at a faster rate than the economy has been growing.
The only positive thing about this illustration is that it shows inflation is on the decline. Which is good for you the tax paying, goods consuming citizen, and bad for our Dear Leader and his economic team. They actually want inflation to rising, not falling. Look it up, their plan was a sharp spike in inflation so they could pay off the massive government debt (currently $15.9 Trillion and rising) with money devalued by inflation. Their greatest fear is deflation, where the currency actually gains value.
The decline in GDP is a clear indication that the American people should not repeat the economic policies of Barack Hussein Obama, which has put the country in the worst economic “recovery” since the Great Depression.
Our Dear Leader promised the American people that if his massive “porkulus” bill was passed, unemployment levels would drop much faster than if the government did absolutely nothing to try and improve the economy. A government driven unemployment rate of 5.6% was promised by July 2012, instead of the to be feared 6.0% rate of no government action.
Now to inject reality into our Dear Leader‘s “planned economy” model. The reality is that unemployment went up from 8.2% to 8.3%. The United States is 2.3% worse off than if the federal government had done nothing! According to Obama’s own metrics, his attempts to “improve” the economy has actually made things worse!
Now, one could cut the President some slack, since he has extremely limited experience with the private sector, and trusted academics with absolutely zero private sector experience for his economic advice. That is if he was willing to admit the error of his ways and come clean with the American people that he made mistakes, very large mistakes, that stole money from pockets of the American worker, and is now willing to try concepts that are new to him, but have improved the economy in past recession recoveries.
Ya, I know, that scenario just is not going to happen. Our Dear Leader and his ‘advisers’ are doubling down on theirfailed policies and trying to tell Americans who have seen their net worth go down while the price of food and fuel go up, that his plan is “working.”
Seriously, he is blowing so much smoke up the collective asses of America that his speeches should come with a cancer warning.
Let’s review recent history, it was the federal government policy of forcing record numbers of subprime housing loans that lead to the last fiscal crisis. A policy formed by the so-called “Community Reinvestment Act” that was put in place and defended by the far left wing of the democrat party.
Can anyone see the subprime auto loan market turning out any better than the subprime home loan market?
Expect your grocery bills to go up, since corn prices are at record highs. Next time you are at the market, take a look at what you are putting in your cart and how much of that is made with high fructose corn syrup. Don’t forget the federal regulations requiring corn based ethanol in gasoline next time you are at the gas pump.
Obama’s Energy Department is ‘Unable to Locate’ $500,000 in Equipment Bought With Stimulus Money.’ That is a half million tax payer dollars! The Energy Department didn’t earn that money, somebody else did (i.e. working Americans who pay federal taxes), and the “most transparent administration ever’ owes the American people a higher level of transparency than ” it would not be “appropriate” to release the name of stimulus-money recipient where the $500,000 worth of equipment could not be located.”
