This is NOT the Obama Economy (wish I slap Hannity every time he spews that crap). We are in a long-wave contraction; four years into a decade of deleveraging and wealth elimination. This is global. It is going to get worse before it gets better.
The biggest mistake both Bush and Obama made was treating this economic cycle like a "recession." Deficit/stimulus spending has, in the past, been helpful in easing a "recession." But we are not in a "recession." We are in a long-wave contraction. You would think that after pumping several trillion dollars into the system, they would get the message.
Obviously not.
Both sides had a seat at this disaster table. A pox on both their houses. For decades they promised goodies in exchange for votes. For decades, the American public gobbled up whatever tripe they spewed out.
We had a chance, in 2010, to do something - but we didn't have enough power to effect real change in spending. Hate to be the messenger: it's now too late.
Wealth is contracting all over the world. ZIRP and hidden inflation will eat whatever is left.
Ultimately, Obama needs to be defeated because he has weakened us considerably as a country and in the World Theater. Our two best choices were Newt and Crazy Uncle Ron (absolutely right on monetary policy but off on foreign policy). We're stuck with Mittens. God help us.
Obama increased the debt of every man woman and child in the country by about $20,000 over his term.
Obamacare and the threat of increased taxes has stopped small business employers in their tracks from hiring.
Obama has blocked massive amounts of oil and coal development
increasing the cost of everything - that and endless printing of dollars...
It is true the credit bubble happened before Obama’s term but he was a major player in pushing the credit bubble when in congress and state government.
Obama has made things profoundly worse.
Actually it is the Obama Economy. He has worsened the cycle and his incompetent staff couldn’t get a clue at a buffet give away.
“This is NOT the Obama Economy (wish I slap Hannity every time he spews that crap). We are in a long-wave contraction; four years into a decade of deleveraging and wealth elimination. This is global. It is going to get worse before it gets better.”
I agree with you and have said this before; Obama will suffer the fallout because 1) he acts like nothing is wrong, and 2) he has actively thwarted actions that might improve the lot of Americans.
You would never get banned on FR for saying such a thing. Your comments are spot on.
With virtually any other president in the past three years we would have seen quarters with 5-7% growth. Our economy was functioning fine five years ago. We saw a massive dip in late 2008, and would have a significant recovery had different politicies been enacted. The world economy would be much stronger if it’s largest player were not mired in a lengthy dip in GDP. This is 100% Obama and liberalism’s fault. We shifted to a european model. It was not born since Obamas inauguration, but large swaths of the socialist system have been put in place over that time.
Bush did little to nothing to build a socialist structure. Blaming him is absurd. He kept taxes low, believed in private sector and not centralized planning. His faults lie in not holding spending and not advancing he ball in reducing government. Blaming him for a failed socialist government is silly.
I bought my small farm in central KY two weeks before the election in 2008 because I didn’t care which side won. This is a hundred year storm (worse, actually) and I now have a strong belief that we are going headlong into Ezekiel 39.
I believe we are living in the prelude to biblical end times prophesy. So yes, It has to get worse before it gets better.