Skip to comments.The Worst Five Years Since the Great Depression
Posted on 07/09/2013 3:17:02 PM PDT by Nachum
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.
(Excerpt) Read more at forbes.com ...
The list, Ping
Let me know if you would like to be on or off the ping list
Follow FDR’s practices and policies; get FDR’s results.
Hopefully, Obama won’t be around for 16(!) years.
It’s so damn frustrating since it could have been avoided.
At this time in my life, all the plans I had are gone due to ALL the insane taxes and regulations. Kids away at school, ready to open a small business, but that is on hold.
This cabal literally ruined all my dreams!
Heck, I even think about people’s color now where as in the past, it never occurred to me.
No new car, no selling the house, no new investments that I would but a dime into, the whole thing has sucked the life out of so many of us. And to think, we have 3 years to go!
Yet, the Democrats are in complete control. Republicans have 0 power.
Obama wants to be FDR and Lincoln rolled up into one.
“American people have now suffered the worst 5 years since the Great Depression...”
That’s the muslim’s plan......
I was literally an almost multi-millionare in 2006. Then the S.H.T.F. and I am now going to have to work until the day I die.
I was doing everything right, had the right investments, diversified in stocks bonds and property and then Barry got elected, and it all went to pot.
No matter what I do I cannot recover 30 years of saving and investing in 10 years.
The Republican's sole power comes in their ability to shut the government down to force compromises. And they are afraid to use it because using that has cost congress elections in the past.
They can't pass a budget without the Senate. So they are being forced by the senate to either shut the government down or pass spending resolutions.
Odd how the liberal press has no interest in the American economy... wonder what's causing that?
Cloward-Piven ramped up.
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.
Cause, meet Effect. Effect, I'd like to introduce you to Cause.
I can’t say we had the same aspirations as you but our investing years have been shot to hell thanks to this idiot. I’m convinced we’ll all be working an extra 10 years to have any semblance of a retirement. Yes, the markets have been up but the extra income that we anticipated is not there to invest.
I have relatives who won’t speak out loud about him anymore, but the last few family events they hide in their little corners and make excuses for this idiot.
We ought to start suing Obama and the Progressives for knowingly implementing economic policies that have caused us all harm.
I hear you, there really isn’t the capital to invest now.
It’s put my life into a tail spin, only because I honestly held onto the belief that this could NOT be happening, though I knew it was. I know, it sounds so counter-intuitive but that normalcy bias is pretty powerful.
As for any relatives, or friends for that matter, I’m with you. It never comes up anymore, I believe they know at this point in time I would NOT hold back. Their blindness is not my concern any longer. Again, yet more evidence of how this fake _resident has done so much damage.
lol, I’ve actually floated that to some people. Nobody seems to want to bite on it! lol
I am so sorry to hear that and I truly empathize. I am right there with you. It sure seems to have made the slugs of the nation quite happy. Nothing better for them then to see others pulled down with them. The whole lot of them disgust me.
I told some that I held them personally responsible back in 2008. One told me I couldn’t speak to her that way since was a client!
Your story is very similar to mine....