Skip to comments.The Worst Five Years Since the Great Depression
Posted on 02/08/2013 6:51:36 AM PST by SeekAndFind
In February, 2009, I wrote for the Wall Street Journal an article entitled Reaganomics versus Obamanomics. The article explained that the emerging Obamanomics was pursuing exactly the opposite of every policy of the enormously successful Reaganomics, and predicted that it would produce exactly the opposite results.
Well, the results are in, and under President Obama the American people have now suffered the worst 5 years since the Great Depression, as first explained by Steve McCann of the American Thinker on January 25. McCann writes,
From 2009 through 2012, the Obama cabal, and their allegiance to statist policies, has been in charge for four years. The global financial crisis took place in the previous year, 2008 [remember the Democrat majority Congress was elected in 2006], and based on the historical pattern of American economic recovery since the depression years, the United States should have been experiencing broad and significant economic and job growth by year three at the latest.
Instead what America got by year five was fewer jobs than before. Even though the employment age population has increased by nearly 12 million since January, 2008, there are now 3 million fewer Americans working, with employment declining from 146.3 million in January, 2008 to 143.3 million in December, 2012. If America enjoyed the same labor force participation rate as in 2008, the unemployment rate in December, 2012 would have been 11.4%, compared to 4.9% in December, 2007, under President George Bush and his failed economic policies of the past. We wont see 4.9% unemployment in America again until the statest takeover of America is purged.
As I have previously recounted here, before this latest spooky downturn, since the Great Depression recessions in America have lasted an average of 10 months, with the longest previously at 16 months.
(Excerpt) Read more at forbes.com ...
The fascist kenyan is doing to us and the economy what FDR did in the 30s; he’s making the depression WORSE while he and his family live high on the hog (or like high-living hogs).
Socialism is for the little people, not the socialist rulers.
FUBO & FAD
The Federal Reserve, and the power of the Federal Gov’t to take-on massive amounts of debt, are the only thing propping up Obama’s progressive fantasies.
Great stuff here.
But...but...but... unemployment is down, the markets are flourishing, housing market is better than in “four years,” right, right?
We’re in recovering! Woo-hoo!
Absolutely not the worst five years since the Great Depression.
The worst five years since the Great Depression were from the moment that President Nixon imposed Wage and Price Controls and closed the gold window.
I’m planning for two futures:
1. like World Depression I (WDI), things will be sour for a long time, eventually reaching a new “normal” and we will slowly grow from there.
My farm I moved to in central Kentucky from Seattle will serve me well for either. I’m hoping for the former, but if the latter happens, I strongly believe it is the one so much bible prophesy discusses. Maybe I should be hoping for the latter...
Killing the American economy is hard work but with four more years to go Barry just may do it.
“Well, the results are in, and under President Obama the American people have now suffered the worst 5 years since the Great Depression...”
Easy to believe; I’m in my sixties, and I, personally, have never seen anything so bad.
What is NOT easy to believe, however - what, in fact, utterly defies credulity - is that Americans voted for four more years of the feckless, gormless goon who’s not only done nothing whatsoever to alleviate this mess, but who spent four yers making it infinitely worse.
The word “idiots” used to characterize the American electorate falls far short in the circumstances.
At its core, Obamanomics is a replay of Rooseveltian-Keynesian-New Deal economics, featuring increasing taxes and regulation of the private sector, and endless new government spending with the government largesse directed to the administration's biggest supporters, "justified" by intensive class warfare rhetoric. Contrary to standard American history history textbooks, these policies prolonged the Great Depression for about seven years after Roosevelt assumed office.
So no one familiar with the true history of the Great Depression can be surprised at the dismal results of Obama's economic policies. Those who don't learn from history are doomed to repeat it, as Santayana said.
Agreed. But worse than FDR. He is leading the charge for the unification of the Left, Muzzies and Global Fascists against the Jews, Christians and all freedom lovers.
He serves the Father-of-Lies.
Well said Jack...a nation that would return this incompetent, bumbling idiot to office is in deep trouble.
What is the metric that you are using to measure the difference?
The long term inflation and brought on by taking us off the gold standard and imposing Wage and Price Controls.
If you would like to defend Federally mandated Wage and Price Controls, I would love to hear your argument.
No, what you said made sense. I just wanted to know how you were measuring the difference.
Ron Paul referred to that episode as our second default in history. The first being FDR confiscating gold and setting an arbitrary new dollar value of gold.
To this day, the general public doesn't know that - they see FDR as a hero who saved us from both the Depression and Fascism. I'll bet Obama ends up with the same reputation - "The First Black President who saved us from the Republicans' greedy economic policies and brought peace to Egypt and Libya."