Posted on 06/11/2009 12:08:58 AM PDT by Yosemitest
The Obama administration is certain to prolong and deepen the economic recession, with the result that unemployment and inflation will increase, Jerome Corsi's Red Alert contends.
...
"Now, as president, Obama has repeatedly blamed the current economic recession on President Bush, alleging his administration 'inherited an economic mess' that will take years to resolve," Corsi wrote. "However, a close look at the table below shows that the Misery Index under President Obama is increasing, as unemployment edges close to 9 percent."
The Misery Index, created by economist Arthur Okun, is obtained by adding the unemployment rate to the inflation rate.
In 1976, while running for president, Democratic candidate Jimmy Carter used the Misery Index to argue that incumbent President Gerald Ford had not improved the economy.
Ironically, Corsi noted, the index came back to haunt Jimmy Carter's presidency.
As the table indicates, the Misery Index for the Carter presidency averaged 16.26, compared to 16.00 for President Ford.
For April, the last month for which data is available, unemployment is at 8.9 percent and the rate of inflation is 0.74 percent, resulting in a Misery Index of 8.16.
...
If the Misery Index under President Obama reaches double-digit levels, he will join seven presidents since the end of World War II whose presidencies involved economic downturns Presidents Truman, Nixon, Ford, Carter, Reagan, Clinton and George W. Bush.
Red Alert's author, ... also noted Obama is in the smaller group of five previous post-war presidents under whose leadership the Misery Index increased Presidents Eisenhower, Johnson, Nixon, Carter and George H.W. Bush.
...
(Excerpt) Read more at worldnetdaily.com ...
Good post. I explained the Misery Index to a young co-worker just yesterday. He said that I’d been around a long time and asked if the other recessions were like this. After the explanation of the misery that Jimmy Carter inflicted on us I told him about Reagan and what he did to turn this country around. I also told him that other negative dynamics are in play and have taken place that weren’t around during Carter. The scenario is very disturbing, I told him. We are in uncharted territory.
If not George Soros, just how was the crisis orchestrated?
http://www.youtube.com/watch?v=eAaQNACwaLw ..... It's a long video, but worth watching.
I think the unemployment rate is closer to 10%, if not above 10% - since many of the jobs are "partime" jobs - than the 9% referenced above. I'd also bet the inflation rate is more than .74% already.
See my tag line. I feel we will all be wishing for things to be only as bad as they were under jimmah cattah.
Never forget... the demoncraps held the purse-strings during the last two years of Bush' term. It was a demoncrap congress that failed this nation
That, I fear, is where you people are.
See what I posted almost two years ago.
http://www.freerepublic.com/focus/news/2269348/posts?page=23#23
Sheesh!!!
How many threats do they need?!
Did the threats top 2,000 last month, or was it 10,000?
I hope they continue to increase!
And, if you do work for them... if I were you, I'd resign.
Working for a FASCIST is life-threatening, and you can do better than the government.
I laugh at the thought.....
Here is a post with link to Donald Luskin research: The Myths Of Clintonomics - FR, November 15, 2008
Another: Politico: Investors Ready For Dramatic Sell-Off If Democrats Win - FR, October 24, 2008
Good post!
Yes, it is incredibly fast because it is extremely radical and because it’s practically unopposed. Amd don’t forget we lived under some of these policies since 2007 Pelosi / Reid Congress, practically unchecked by President Bush.
And I ... thank you, for your additional links.
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