Posted on 01/02/2016 11:49:09 AM PST by SeekAndFind
The president keeps congratulating himself on how the economy's doing, and Hillary Clinton just gave her former boss an 'A' for his handling of the nation's finances. Who said inflation was under control?
The latest revised numbers for GDP growth through the third quarter of 2015 tell us that we are still stuck in a 2% growth rut and real middle class wages are still flat-lining.
Meanwhile, another new report from Sentier Research based on Census data finds that median household income of $56,700 at the end of 2015 stood exactly where it was, adjusted for inflation, at the end of 2007.
That's eight years of virtually zero income gain. And Obama and his Washington pals wonder why voters are in such a cranky mood.
Last week, the Joint Economic Committee of Congress issued a new report on the Obama recovery that's loaded with even more bleak news.
On almost every measure examined, the 2009-15 recovery since the recession ended in June of 2009 has been the meekest in more than 50 years.
Start with the broadest measure: growth in output. The chart with this editorial compares the Obama growth pace with that of the average recovery coming out of the last eight recessions, and with the Reagan recovery, and over the same number of months (77).
Democrats used to disparage the Reagan expansion as nothing special. Yet the growth rate over the first 25 quarters under Reagan was 34%, vs. 14.3% under Obama.
How much does this matter? If we had grown at an average pace, GDP in 2015 would have been about $1.8 trillion higher. Under the Reagan recovery, growth would have been $2.7 trillion higher.
(Excerpt) Read more at news.investors.com ...
and it’s all the DumB-O-Craps recovery
Inflation is greatly exceeding the GDP growth. I could make a case that we’re still in decline. I live in a comparatively protected community with city, county, state and federal government along with lots of university and junior college workers. The price of housing is dropping. Homes are spending more time on the market. Rentals are up and housing starts down. People aren’t spending the way they used to. In short, if this is a recovery it s*cks.
You do realize that all your observations are of deflation, not inflation.
There is no recovery. Subtract real inflation from the rate of expansion and you get contraction.
Do not worry. Within 5 minutes of Trump/Cruz taking the oath of office, every single news orginization in America will suddenly discover how bad the economy is and will cause even further degredation of the economy by screaming doom from every rooftop 24/7, and it will be all (R)s fault. We are but a single year away from good economic news being described as “unexpected” again.
“You do realize that all your observations are of deflation, not inflation.”
They are observations of an economy where people are too afraid to buy anything, where people are afraid to commit to home ownership. If the economy were recovering people would be replacing cars, buying durable goods and going to the movies and eating out more. Numerous restaurants in town have gone under. Stores are empty and for rent. The things that the government does not count in inflation, food, taxes, insurance and medical care are screaming up in price. It costs $150 to turn on the electric at a rental I bought. A few years ago it was $25.
Nothing you’ve got to buy is falling in price outside of gas. Houses seem to have stabilized here and are moving better than a few years ago but still nothing to brag about, my house would likely appraise the same as 2007. Food, utilities, insurance are all up, in some instances way up, whereas incomes generally are not. It feels inflationary because living expenses are increasing, even if the overall picture is still teetering on deflation.
It is not deflation unless you put price in front of it. Prices are going down because with the inflation wages are not going up and people cannot buy what is out there. There is an accelerating amount of money in the system. It is all bouncing back and forth between the Fed and various financial institutions and is being used to prop up the Dow which is probably actually in collapse but for the periodic injection of new money that the Fed shovels into the banks and the banks cannot lend so they feed it into the stock market when the price drops. Perhaps it is at the direction of the Fed or perhaps it is just because there is nothing else to do with it.
Economic stimuli: Bush vs barry
Under Bush admin, I filed my taxes, received a letter stating my return had been amended to show + $300 to me
cost of program = (approx) $152 billion
Obama: (search results aren’t current, only 2010...? porque Senor El Presidente?)
TOP RESULT: CNN, $2.8 Trillion
(how many got to pass it through their kidneys first?)
“http://money.cnn.com/2010/12/20/news/economy/total_stimulus_cost/";
“(stimulus).https://en.wikipedia.org/wiki/Economic_Stimulus_Act_of_2008";
This actually is not an issue of economic recovery imo.
More specifically, crooks long ago discovered that it is easier to get themselves elected as federal lawmakers and then make laws which appropriate unconstitutional federal taxes than to rob banks for a living.
In fact, note that a previous generation of state sovereignty-respecting justices had clarified that Congress is prohibited from appropriating taxes in the name of state power issues, essentially any issue which Congress cannot ustify under its constitutional Article I, Section 8-limited powers.
”Congress is not empowered to tax for those purposes which are within the exclusive province of the States.” - Justice John Marshall, Gibbons v. Ogden, 1824.
So the mission of the corrupt Washington Cartel is to fill its pockets with taxpayer dollars stolen by means of unconstitutonal federal taxes.
Remember in November !
So when patriots elect Trump, or whatever conservative they elect as president, they also need to do this. They need to elect a new, state sovereignty-respecting Congress that will work within its constitutional Article I, Section 8-limited powers to support the new president.
An added bonus to such a Congress is that it can fire activist justices.
the Great Obama Depression won’t end until we get rid of Obamacare and a thousand more impediments to economic recovery
and especially after Obama (HOPEFULLY!) is forced to leave office..... if we can get almost ANYBODY halfway loyal and sane in there...
so that the extreme Political Risks to economic investment and hiring are lessened somewhat....
almost anybody who doesn’t play Dictator...
then.... and only then...the economy can start recovering and businesses can start a little hiring
Inflation may be low the way the government figures it
It is dam high for a working person only thing down I can see is gasoline
Cookies used to be sold by the pound now it is 7 0r 8 OZ at the same price
Candy is as expensive as STEAK
Heave ho, the WH loser has to go!
I generally like I.B.D. editorials except when “I.B.D. Editorial Writer” posts them, he posts a very very short excerpt and never answer any replies. He’s here to get clicks to his blog only and has been doing it for years.
I’ve included him in the address for this post, trust me, he will not reply.
Posting history:
http://www.freerepublic.com/tag/by:ibdeditorialwriter/index?brevity=full;tab=comments
It is? Man, we couldn’t tell. Thanks for telling us.
Since Obama took office seven years ago, we have admitted roughly 10 million LEGAL immigrants.
Most of them have limited education and limited work skills.
The claim that 35% of immigrants have a “college degree” is political propaganda.
Most of them received their “degrees” from Third World universities that are not accredited by USA corporations.
And, almost all of them were employed by their Third World governments or by government sponsored enterprises, so almost all of them have no experience working in a competitive profit based economy.
“Recovery” sure doesn’t mean what it used to mean.
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