There are lots of clear solid numbers that show how bad econ policy has been, but thei is what the article boiled it down to.
We got a big swamp to drain.
Posted on 12/08/2016 3:07:52 AM PST by expat_panama
President Obama has staked a great part of his legacy on the idea that he skillfully engineered a great recovery from the financial crisis. The Obama-friendly media routinely parrot the idea. But in fact, as a shocking new study from the nonpartisan U.S. Council on Competitiveness and the Gallup organization suggests, the so-called recovery doesn't exist.
As recently as Oct. 11, less than a month before the election, the online publication The Hill ran this headline: "Obama's economic legacy ensures Democrats decades of success." No kidding. But it's a bit unfair to single them out: Others have run with similar themes. The point is, it's not true.
The reason Obama's chosen successor, Hillary Clinton, didn't win a third straight presidential term for the Democrats was that they actually seemed to believe their own propaganda...
..."Conventional wisdom — as reported in many major newspapers and media — tells us the U.S. economy is 'recovering,'... ...there is no recovery. Since 2007, U.S. GDP per capita has been 1%."
It's even worse when looking at a trend line. From a range of about 2.6% to as high as nearly 3.5% a year during the late 1960s, per capita GDP has steadily declined over time...
...That's the bad news.
The good news is, it can be fixed. But it will take radically different policies and the political will to buck the special interests, lobbyists and crony capitalists that stand in the way.
As such, whether you like him or not, President-elect Donald Trump is beholden to no one but the voters for his unlikely victory in November. He may be ideally suited for the difficult, but necessary, job of reforming the economy to restore its once-extraordinary growth. Let's hope so. If not, the next presidential campaign is just 36 months away.
(Excerpt) Read more at investors.com ...
There are lots of clear solid numbers that show how bad econ policy has been, but thei is what the article boiled it down to.
We got a big swamp to drain.
All I can say is many of my friends’ work has picked up where I’m at or they’ve found jobs. People at least have better hope than they ever I’d under Obama.
All I can say is many of my friends’ work has picked up where I’m at or they’ve found jobs. People at least have better hope than they ever did under Obama.
So Obama’s recovery is Fake News, who would have thought?
When this market turns, and it will, Trump will get all of the blame.
I don’t understand what your saying.
I STILL don’t understand what you are saying.
How much money was wasted in Africa and Asia? And for what?
Read this later
If I understand it correctly, the GDP is based on three legs:
1 Government investment
2 Business investment
3 Consumer spending
So if Business and Consumer spending are in recession levels, all they have to do is a big “stimulus” spending bill and voila! GDP is magically in recovery! Hurray!
Only, it isn’t. They take MORE money out of the economy to return to the economy, OR, they borrow more money on the credit card. Meanwhile, business and consumer spending are still in recession, and will continue to be longer than if the government had done nothing.
I look for this game to hit a few speed bumps under Trump, and he will be blamed for it. We’ll hear “Trump recession” a million times.
This morning's stock futures may not be anything stellar but yesterday's performance w/ same was world class and congratulations are in order for our market trend officially resuming!
It's a good morning! Silver and gold are bouncing back up too, now at $1,177.91 and $17.19 --tho futures traders don't see any more gains ahead.
Reports; claims & not much else:
8:30 AM Initial Claims
8:30 AM Continuing Claims
10:30 AM Natural Gas Inventories
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Gee—Now that Obama isn’t an ongoing threat, and blame can be shifted to Trump, we’re starting to see more accurate reporting.
Schmucks.
1 Government investment
2 Business investment
3 Consumer spending
That's what's in the favored formula if we also include net exports:
GDP = C + I + G + (Ex - Im)
where “C” equals spending by consumers,
“I” equals investment by businesses,
“G” equals government spending and
“(Ex - Im)” equals net exports, that is, the value of exports minus imports. Net exports may be negative.
We’ll hear “Trump recession” a million times.
--like Kerry's "worst economy since Hoover"..
Mr. Obama has been a HUGH FAILED LEADER.
Those of us who have paid attention and have no reason to try to prop up or idolize our first black president are aware that the economy has been flat.
What I saw happen is that the financial news was full of hope for the first couple of years after Obama was elected. They kept talking about “green shoots” as if everything was poised to take off. Never mind that Obama did not have a single policy that would have fueled an economic surge; all he did was massively increase the national debt—an economic weight that holds everything down.
When the economy kept failing to skyrocket as the liberal financial reporters kept predicting, they quietly dropped the predictions and just began writing as if the economy was good, regardless of its actual condition. But people who paid attention and read between the lines could still see the truth.
I saw it in my daily commute. The freeway that I took to work used to have a traffic jam 4 days out of 5 at one particular section during the Bush years. I moved out of the area for 3 years, and when I came back in 2011, that same stretch of freeway hardly ever had a traffic jam. From being congested in that stretch 4 days out of 5, it dropped to having congestion maybe 1 day out of 10. And throughout Obama’s administration, the traffic never got worse—meaning that people who had lost their jobs remained unemployed, that truckers were carrying fewer goods along the logistical routes—all of which causes decreased traffic.
I look forward to the Trump recovery (but not the recovery traffic).
Throughout the mid-Atlantic, small businesses continue to fold and shutter. There is little commerce apparent. Sad.
TC
You mean it was/is “Fake News”, it’s about time IBD stopping repeating the lie. Maybe no IBD will get honest about unemployment, inflation and other fake news.
I’ve heard the same regarding train access to Manhattan from northeastern NJ; a lot less people on the trains. When they tried to push for the building of a new tunnel under the Hudson River (makework for unions), because there was really no need anymore they were reduced to saying the additional tunnel would help people WHO WANTED TO SEE A BROADWAY SHOW.
15 years ago the death toll at the World Trade Center was reduced by the amount of vacant office space in the buildings; there has been no recovery since then in the NYC metro area. That is why there are so many advocates for sanctuaries for illegals here; the Americans and the companies that employed them are leaving, and the gubmint free sh!t is the “new normal” economy here for increasing numbers of people. Keeps the classrooms, housing, and Wal-Mart aisles full...
LOL! I have seen the same thing with Houston traffic. If business is good, traffic is awful. If business is bad, there is no traffic problem.
A huge chunk of the GDP under Obama has been spending on healthcare.
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