Obama breaks through economic barrier!

[BaalsTears]

Working!

Your glibness begs the question. You say "working." That's not true for the long term unemployed. The labor participation rate is the lowest it has been in about forty years. People are becoming dependent on the dole. That makes them less free.

Most job growth has gone to immigrants either legal or illegal. Many Americans who lost good jobs have found work at inferior wage and benefit levels. How many of the new jobs have been part time? How are real wages for the working class compared to the period prior to the inception of the Obama presidency?

Under Obama the wealthy are getting richer. This real growth isn't being shared by the working class.

Yeah, but it's KENYAN MUSLIM SOCIALIST economic growth, and that's BAD!

It's growth based on the sale of annuities and cheeseburgers.

 

[Icarus27k]

Exposing The Deception: How The US Economy "Grew" By $140 Billion As Americans Became Poorer

http://www.zerohedge.com/news/2014-...conomy-grew-140-billion-q3-due-data-revisions

inShare35​

This is simply stunning.
Regular readers will recall that last month, at the same time as the US Bureau of Economic Analysis reported was a far better than expected 3.9% GDP (since revised to 5.0% on the back of the previously noted Obamacare spending surge), it also released its Personal Spending and Income numbers for the month of October, or rather revised numbers, because as we explained exactly one month ago "Americans Are Suddenly $80 Billion "Poorer"" thanks to (upward) revised spending data and (downward) revised income. What this meant a month ago is that as a result of a plunge in the imputed US savings rate, some $80 billion in personal savings was revised away from the average American household and right into the US economy.
After all, something had to grow the US GDP by a massive amount in order to give the Fed the green light it needs to hike rates eventually, just so it can then ease when the global dry powders from all the other central banks is used up.
And sure enough, this is how just one month ago, personal

For this, I am going to refer you back to my previous post in this thread where I said anti-Obama people ignore the headline economic numbers (GDP, unemployment rate, etc.) because they are politically inconvenient for them, and instead try to zero in on obscure, relatively minor numbers buried in economic reports.

You gave me a pretty good example of that logic, actually.

 

[darkbeaver]

For this, I am going to refer you back to my previous post in this thread where I said anti-Obama people ignore the headline economic numbers (GDP, unemployment rate, etc.) because they are politically inconvenient for them, and instead try to zero in on obscure, relatively minor numbers buried in economic reports.

You gave me a pretty good example of that logic, actually.

Enjoy your GDP sir. Sorry to have bothered you with reality.

 

[BaalsTears]

No, it isn't. Manufacturing has been steadily increasing in the U.S. since 2010.

That's because of cheap energy.

Who cares, they should have gone to college.

College is less valuable than it used to be. Besides, the quality of college educations have deteriorated except in STEM disciplines.

Working. Too dam busy to complain. It is the non working class that has all the time required to show up at every protest.

You have a point. The protests are not workers' protests.

 

[Icarus27k]

Enjoy your GDP sir. Sorry to have bothered you with reality.

And yeah, I do very much enjoy sustained GDP growth over a period of years.

Despite your link's attempt to debunk 3Q 2014 GDP (July-September) with an average personal savings number for the month of October 2014.

 

[Angstrom]

Enjoy your GDP sir. Sorry to have bothered you with reality.

A other thing to add is, this situation is not only our making. China has placed itself under our economy and has deliberately dropped itself each time we dropped.

They did this by fixing their currency to 1/6 of ours in a deliberate act to take all our manufacturing.

So they didn't act in good faith ether. Do you understand?

So we print like crazy to counter their currency fixed to 1/6th


It's a very serious currency war

 

[Sons of Liberty]

That's because of cheap energy.

Fuel has been steadily increasing since 2008, except for the past 2 months, so what are you referring to?

College is less valuable than it used to be. Besides, the quality of college educations have deteriorated except in STEM disciplines

Has it, do tell?

 

[darkbeaver]

And well you should. I assume you are in the upper 1% and you see a good return on your GDP.

A other thing to add is, this situation is not only our making. China has placed itself under our economy and has deliberately dropped itself each time we dropped.

They did this by fixing their currency to 1/6 of ours in a deliberate act to take all our manufacturing.

So they didn't act in good faith ether. Do you understand?

So we print like crazy to counter their currency fixed to 1/6th


It's a very serious currency war

Oh yeah I understand. Many deliberate acts are made in economics, I think. You seem to be equating sound economic competition with deliberate acts which is good thinking. The manufacturing moved to China by the corporatist scum was a deliberate act to gut the American economy the rest of the west followed like greedy little beady eyed leamings. The pie's all gone now. Western economic recovery is quite impossible for a few decades anyway, and the suits aren't interested in fixing it, they've already two decades ago decided to milk and move, screw the herd.

 

[Angstrom]

And well you should. I assume you are in the upper 1% and you see a good return on your GDP.



Oh yeah I understand. Many deliberate acts are made in economics, I think. You seem to be equating sound economic competition with deliberate acts which is good thinking. The manufacturing moved to China by the corporatist scum was a deliberate act to gut the American economy the rest of the west followed like greedy little beady eyed leamings. The pie's all gone now. Western economic recovery is quite impossible for a few decades anyway, and the suits aren't interested in fixing it, they've already two decades ago decided to milk and move, screw the herd.

It's no about greed or evil men.

The market go's where it has more chances to make money. Accept that as the market. Without that law or "greed" the money is worthless. It's that incredible greed from corporations that gives credibility and value to currency.

Without that greed the value would not exist. The value is based on the constant demand for currency. Without that imaginary greed from corporations money is only paper.

I would direct you're anger towards China for creating the perfect situation where corporations must move to China because in bad faith they devaluated their currency.
The market will always react in a predictive way. China used that to their advantage.

You can't blame humans for being humans.
Humans will always act like humans.

It's a fine looking high horse you got.

 

[taxslave]

It's been interesting to watch Obama critics deal with the good economic numbers the past few years. It's common for them to ignore the headline numbers (GDP, unemployment rate, etc) because it's inconvenient to their anti-Obama ideology, and instead focus on some relatively minor statistic buried deep in economic reports that gives them a little bit more justification, although not complete justification.


One common talking point on economics for the anti-Obama folks is that total labor force participation is at the lowest point in decades, but even that doesn't say as much as they think. A significant cause of it is the retirement of the Baby Boomer generation. A large generation of people dropping out of the labor force because of retirement isn't exactly an economic horror story.

It just may be a horror story. many of them are in no way financially prepared for retirement.

 

[BaalsTears]

Fuel has been steadily increasing since 2008, except for the past 2 months, so what are you referring to?

Two phases.

It was cheaper to locate manufacturing in the US closer to the market for finished products, rather than to incur the costs of shipping long range.

Peak oil was never reached. Instead, oil prices permitted entrepreneurs to increase supplies. Increased supplies led to an inevitable decrease in prices. Domestic prices for refined petroleum products in the US became relatively cheaper than domestic prices in the EU or Japan.

Has it, do tell?

The Decline of College | National Review Online

Higher education: Not what it used to be | The Economist

The Humanities Move Off Campus by Victor Davis Hanson, City Journal Autumn 2008

 

[EagleSmack]

It's been interesting to watch Obama critics deal with the good economic numbers the past few years.

Yes I know. What is going to be the make up of Congress in January again?


The people are ecstatic with their new low paying and/or part time jobs.




If the economy is making headway it is in spite of the administration not because of the administration.

 

[Walter]

Who cares, they should have gone to college.

A degree in mediaeval French poetry is bound to get you a job.

Yep. I like it when GDP rises significantly and the unemployment rate declines significantly over a period of years, with extremely weak counter-arguments that say this really isn't a good thing.

You don't know of what you post.

There is a level of conspiracy theory going on with the anti-establishment, anti-Obama people when they try to make economic cases. The idea that the official reports are somehow illegitimate and only sheep believe them.

The same kind of attitude that believes vaccines make people sick, fluoride in water is a dastardly plot, climate change isn't real, Obama's birth certificate is questionable, the moon landing was fake, and the U.S. government has a HAARP machine that can control the weather.

You're daft if you believe this.

The anti-Obama people haven't completely recovered from the fact the Great Recession (Dec. 2007-June 2009), a once-in-three generations recession, ended five months after Obama took office, four months after Obama signed the Democratically-passed stimulus package of 2009.

If he never signed that law, the Great Recession would have either 1. lasted longer than it did; 2. ended with some economic growth but then dropped backed into a second recession; or 3. ended with continuous economic growth that would have been less robust than it was.

Wrong again. Read up on how Calvin Coolidge dealt with economic recession.

 

[taxslave]

There is a level of conspiracy theory going on with the anti-establishment, anti-Obama people when they try to make economic cases. The idea that the official reports are somehow illegitimate and only sheep believe them.

The same kind of attitude that believes vaccines make people sick, fluoride in water is a dastardly plot, climate change isn't real, Obama's birth certificate is questionable, the moon landing was fake, and the U.S. government has a HAARP machine that can control the weather.

Fact is vaccines do make some people sick and even kill a small percentage. Fluoride in the water was a plan by the aluminum industry to get rid of a waste product. It is not necessary for good teeth and like vaccines does cause some sickness. Climate change is real and perfectly natural. Been happening since day one.

 

[JLM]

This is normally a sentence you'd see people writing sarcastically. Are there still true believers out there? This ain't 2009.

It's a presidential thing, when he was in power Clinton was a pariah and a deviate to boot, Young Bush was worse and now Obama is even worse. It's a "game" you can't win at!

 

[BaalsTears]

It's a presidential thing, when he was in power Clinton was a pariah and a deviate to boot, Young Bush was worse and now Obama is even worse. It's a "game" you can't win at!

After the "game" is over a new game begins in which profit is realized.

 

[damngrumpy]

People just can't stand it when the numbers go in Obama's favor. When things are bad
they say he is no good when things are good the peddle the oh he's arrogant nonsense.
Sticking to a plan is the key to any situation and Obama did that and the critics and nay
sayers are now whining cause it worked. The used the figures to spread doom and gloom
now that those figures tell a different story they are not accurate can't have it both ways.
I like Obama no he is not perfect in fact he could have been more hard nosed on Medicare
and just Nationalized it and put it under government universality but he didn't because the
people are still spooked by some imaginary boogie man and they were hood winked by a
different boogie man Ronnie Reagan who is largely responsible for the mess America is
dealing with today

 

[Walter]

People just can't stand it when the numbers go in Obama's favor. When things are bad
they say he is no good when things are good the peddle the oh he's arrogant nonsense.
Sticking to a plan is the key to any situation and Obama did that and the critics and nay
sayers are now whining cause it worked. The used the figures to spread doom and gloom
now that those figures tell a different story they are not accurate can't have it both ways.
I like Obama no he is not perfect in fact he could have been more hard nosed on Medicare
and just Nationalized it and put it under government universality but he didn't because the
people are still spooked by some imaginary boogie man and they were hood winked by a
different boogie man Ronnie Reagan who is largely responsible for the mess America is
dealing with today

You really are grumpy.

 

[gopher]

if the economy is making headway it is in spite of the administration not because of the administration.

brokenrecord

 

[Angstrom]

Ill be perfectly frank, Things will be perfectly fine for the next 15 years. And it's nothing anyone government did or didn't do.
Government can't micro manage this stuff.

To blame anything on a single person like the president is naive.