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Obamanomics: R.I.P. Sluggish growth is the long-term new normal for America
The Washington Times ^ | June 19, 2016 | Stephen Moore

Posted on 06/20/2016 4:32:39 AM PDT by expat_panama

Well, it turns out Annie had it wrong. The sun won’t come out tomorrow.

That was basically the message from Federal Reserve chair Janet Yellen last week when she acknowledged the economy is doing more poorly (again) than previously hoped. The Fed admitted that sluggish growth that caps out at 2 percent is with us for as far as the eye can see, or at least through the next two years. Is this a declaration of the last rites for Obamanomics? It should be. Throw it in the dustbin of history alongside all the other failed liberal economic experiments.

The previously bullish Fed finally and openly acknowledged that sluggish growth is the long term new normal... ...the equivalent of losing the entire annual output of every business and worker in Michigan, Ohio and Indiana combined.

Instead of speeding up to recover all this lost ground, we’re decelerating...

...Where is the Republican tax cut? Where is the Republican regulatory freeze? Where is the Republican bill suspending the 50-worker rule under Obamacare or the 30-hour-a-week regulation that has forced millions of Americans into part-time jobs. Why haven’t they suspended the Clean Power Plant rules by the EPA that are putting coal miners out of work? House Speaker Paul Ryan has some wonderful policy ideas he is rolling out, but rather than talking about them, how about passing them?

Hillary’s growth agenda is to give America more of the same. Congressional Republicans seem to have no economic agenda at all — just white papers of what they will do in the future. But to quote George Allen, “The future is now.” Congressional Republicans like to blame Mr. Trump for their precarious political predicament and lousy poll numbers. Maybe they should look in the mirror.

(Excerpt) Read more at washingtontimes.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: economy; growth; investing
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fwiw:
 
Chart to accompany Moore article of June 20, 2016.

1 posted on 06/20/2016 4:32:39 AM PDT by expat_panama
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To: expat_panama
Here's my graphical representation of the American economy. It is the view from Mule Point and the Moki Dugway on the Cedar Mesa loosing south towards Monument valley. Once you fall off the mesa, it is flat forever


2 posted on 06/20/2016 4:42:07 AM PDT by bert ((K.E.; N.P.; GOPc;+12, 73, ....Opabinia can teach us a lot)
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To: expat_panama

The issue which everyone knows, but that nobody wants to say, is that China is heading for global preeminence.

They do not allow foreign direct investment, only foreign minority ownership (which really is not ownership at all) yet everyone keeps on sending formerly American businesses there. And China keeps on growing every more, taking ever more American businesses, and becoming ever more advanced.

Yet nobody will say that. Everyone is silent.

Except recently, for Donald Trump. :D


3 posted on 06/20/2016 4:45:15 AM PDT by cba123 ( Toi la nguoi My. Toi bay gio o Viet Nam.)
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To: expat_panama

Debt to America!


4 posted on 06/20/2016 4:47:32 AM PDT by rawcatslyentist
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To: expat_panama
They are missing their targets by increasing numbers.

The electorate 20 or 30 years ago would have put part affiliation aside and not stood for this poor performance. In those days, Obama would have been voted out after one term no matter who the GOP ran. (There was a post here the other day that documented that he had the 4th worst economic performance of all presidents going back to Washington. ) But, it's a different electorate now. A different mindset that was instilled by left wing academia and reinforced by a "progressive" pop culture.

All is not lost. We need to learn form the left's tactics and fight back using the same methods only ratchet it up five or six fold.

5 posted on 06/20/2016 4:53:38 AM PDT by Sir_Humphrey (Strong minds discuss ideas., average minds discuss events, weak minds discuss people -Socrates)
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To: expat_panama

This is unexpected. Who would have guessed that socialism would fail again? Even in America!


6 posted on 06/20/2016 4:55:14 AM PDT by Pollster1 (Somebody who agrees with me 80% of the time is a friend and ally, not a 20% traitor. - Ronald Reagan)
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To: expat_panama
Depends on how quickly President Trump can activate the manufacturing momentum in America

American economics leans heavily of faith and we are sluggish now because "we" have no faith ... especially in ourselves

I think we can turn it around pretty quickly

7 posted on 06/20/2016 4:56:06 AM PDT by knarf
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To: expat_panama

Wow...a long-lasting reverberation from the late 1970s.

Who was president then? A Democrat counterproductive and weak on domestic issues and even weaker on foreign policy and the Islamic threat.

Janet Yellen may as well wear her O2012 T-shirt to meetings and hearings.


8 posted on 06/20/2016 5:11:06 AM PDT by relictele (Principiis obsta & Finem respice - Resist The Beginnings & Consider The Ends.)
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To: knarf
activate the manufacturing momentum in America

All he has to do w/ manufacturing is to just say it's now fixed--

--and that America's already "first":

Industry > Manufacturing output: Countries Compared
# COUNTRY AMOUNT
1 United States 2.31 trillion
2 European Union............................ 2.09 trillion
3 Japan 1.65 trillion
4 China 1.45 trillion
180 more rows, 3 more columns

Countries Compared by Industry > Manufacturing output. International ...

www.nationmaster.com/country-info/stats/Industry/Manufacturing-output

 

 

9 posted on 06/20/2016 5:31:31 AM PDT by expat_panama
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To: cba123
They do not allow foreign direct investment, only foreign minority ownership (which really is not ownership at all)

While people keep saying that on the FR, I keep buying Chinese corporations and Americans keep creating companies in China that they own outright.   Incidentally, one buddy of mine was saying that starting up the company only took a few months but that the paperwork for shutting it down a few years later took the better part of a year.

10 posted on 06/20/2016 5:42:37 AM PDT by expat_panama
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To: expat_panama

The last information I had seen, was that China only allows non-Chinese, to own 49% of any company in the country.

Just saying. That is my impression anyway.

Are you ethnically Chinese?


11 posted on 06/20/2016 6:09:16 AM PDT by cba123 ( Toi la nguoi My. Toi bay gio o Viet Nam.)
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To: bert

Your graphic is accurate and perfectly awful. The economy of the US is dead, stagnant, flat, dried up, desolate. It is a sham.

Sure, there is some activity but it is phony. A new normal of low expectations has been established. The youngsters generation don’t know anything but 3.5% interest rates on houses and if it is anything higher they will be devastated. That is but one reason why the economy can’t stand higher rates. Add to that:

1. We could not even service the interest payments on national debt at higher rates
2. Big business would not have the profit to pay ossifers massive amounts of money they will never be able to spend.

Once upon a time, in a land far away we lived sensibly on interest rates of 6 to 8%. Things went along pretty well. Those days are long gone and will not return in my lifetime. In that time central banks were seldom heard of or from but likewise we hardly ever dealt with the feral gubment. Now both are in our faces every single day keeping us on edge and making us think we can’t live without either one of them.

“looKing” and it is all dirt, hot, dry wasteland.


12 posted on 06/20/2016 6:13:00 AM PDT by Sequoyah101 (It feels like we have exchanged our dreams for survival. We just have a few days that don't suck.)
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To: expat_panama

They need to go back a little further to show how it once was.

Records lost or what?

We have the new normal because nobody can remember how things once were when they are never told or taught.


13 posted on 06/20/2016 6:14:57 AM PDT by Sequoyah101 (It feels like we have exchanged our dreams for survival. We just have a few days that don't suck.)
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To: cba123
last information I had seen, was that China only allows non-Chinese, to own 49%

My "last information" usually has a much shorter lifespan than most other people's "last information".  Here are companies that I buy:

The Complete List of Chinese ADRs trading on the US Exchanges as of Mar,2016

NASDAQ Companies in China

--and here's how my freinds have done it:

10 Steps to Starting a Business in China

Business registration in China

How foreigners can set up a company in China?

It's possible that the 49% story was back from the days of Chairman Mao.

14 posted on 06/20/2016 6:48:06 AM PDT by expat_panama
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To: expat_panama
Obamanomics: R.I.P. Sluggish growth is the long-term new normal for America

Yet, surprisingly, there are millions of Americans who want to continue with these policies.

15 posted on 06/20/2016 6:52:18 AM PDT by The Sons of Liberty (Muzzie terrorist slaughters 49, but it's the GUNs' fault, not the raidical islamic animal.)
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To: expat_panama

Wrong.

Truth is, without the (heavily) cooked books of the BLS, we have had a shrinking GDP for 10 years.

There is no growth, sluggish or otherwise. Debt is the only growth this country is experiencing.


16 posted on 06/20/2016 7:02:28 AM PDT by ChildOfThe60s (If you can remember the 60s, you weren't really there....)
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To: expat_panama

Interesting thanks.

Here is a correct link:
http://www.inc.com/guides/2010/07/how-to-start-a-business-in-china.html

That shows a Wikipedia entry, which also links to this:
http://www.shanghai-attorney.com/WFOE

Apparently there is a relatively new “WFOE”, which seems to be an independent ownership arrangement of some sort.

Benefits, it does not rely on a local partner. The company is restricted in what is may do, and the government can accept or deny a particular company. I did not see a requirement that a Chinese partner be involved. If not, that is a big improvement.

On the other hand, it seems these are only allowed in some fields. But there apparently is a way to repatriate profits. So that is also a big thing.

I appreciate your post. Will need to read up on this a bit.


17 posted on 06/20/2016 7:20:15 AM PDT by cba123 ( Toi la nguoi My. Toi bay gio o Viet Nam.)
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To: ChildOfThe60s
...cooked books of the BLS, we have had a shrinking GDP...

When you say that to anyone who works w/ these numbers you might want to say "...cooked books at the BEA..." because that's where the GDP accounts are cranked out while the BLS only works w/ labor/price stuff.

18 posted on 06/20/2016 8:26:31 AM PDT by expat_panama
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To: cba123
need to read up on this a bit.

Me too.  China has a habit of changing procedures and keeping secrets.  All countries do to some extent I guess but my experience is that China's still got a long way to go.

19 posted on 06/20/2016 8:30:06 AM PDT by expat_panama
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To: bert

There are a lot of folks from that area that rave about how much they love it, no mildew, dry fresh air, plenty of room. Only time I was ever there I was anxious to get somewhere else...


20 posted on 06/20/2016 8:34:57 AM PDT by expat_panama
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