Thursday, June 21, 2012

The Real Scope On the Economy...

by: Les Carpenter
Rational Nation USA
Liberty -vs- Tyranny


Sword of Truth

The Obama administration and it's robotic like followers would have you believe the nation is better off than it was four years ago. Factual empirical data disagrees. Rather than doing the he said he said blame game just look at the data.

GWB's administration was a economic disaster in its infancy. Enter BHO's administration that essentially continued the misguided policies of its predecessor and what we have is a prolonged economic down turn with continued high unemployment.

No doubt the neo-cons on the right, as well as the statist socialists on the left will call for greater government intervention to force a market correction to bring us back to prosperity.

I might suggest a reading of, Capitalism: The Unknown Ideal before further tinkering with the economy occurs.

Cut to Investor's Business Daily for the real scoop.

Investor's Daily - Economy: A Bloomberg poll out this week purports to find that "Americans say they're better off since Obama took office." Don't believe it. Fact is that by most measures, Americans have fallen behind under Obama.

The actual poll results are far less emphatic than what that Bloomberg headline suggests. The poll found only 45% say they're better off under Obama. However, a smaller share — just 36% — say they are worse off.

Maybe the Bloomberg poll suffered from a selection bias — after all, it also found unusually high support for Obama over Romney. Or maybe the public's views are distorted by a biased mainstream press trying to convince them that things are getting better.

Whatever the reason, it is simply not true that Americans are better off than they were four years ago.

Here are the facts:

More unemployed: As of May, there were almost 700,000 more people out of work than in January 2009, and the unemployment rate is higher — 8.2% vs. 7.8%. There are also 2.7 million more long-term unemployed — those who've been out of work for 27 weeks or more, according to the Bureau of Labor Statistics.

More discouraged workers: The number of "discouraged workers" — people who believe no job is available — is still 100,000 bigger than when Obama took office. There are also more people working part-time because they can't find full-time jobs, and millions more who aren't in the labor force at all.

Lower weekly earnings: BLS data also show that real median weekly earnings have dropped 3% during Obama's time in the White House. {Read More}

Via: Memeorandum

7 comments:

  1. Every day, I talk to business owners on the phone. Every day, some of them tell me that they're in the process of going out of business. It's far worse than it was three years ago when I started this job.

    ReplyDelete
    Replies
    1. Yes, but from the President's view from the WH everything "appears" to be just fine with the private sector,

      Delete
  2. Love the way they explain away Americans thinking by saying they were duped by the media, or the poll was biased. Grasping for explanations, to fit their conclusions, and dam what Americans think.
    Anyone who thinks the negative effects of bad economic policies would end simply because leadership changed, needs economic education.
    But if they want to play that game, then Americans are correct, we are better off today. We no longer are losing 700,000 jobs a month. The economy has stopped crashing and leveled off. Growth, while slow, is going up, not down. Etc., etc., etc.
    It's a mistake for Americans and its politicians to be waiting for the economy to get back to where it was. That economy no longer exists, we have to develop (invest) in a new economy. Those lost jobs are gone forever, we need growth (investment) to develop new positions.
    Where will this investment come from? Obviously not the corporate sector, who are sitting on their cash afraid to invest in America. We refuse to invest our own money (government investment) so I guess we think we can survive on foreign investment (China) wrong. That money is drying up. No one wants to invest in a country 16 trillion in debt.
    Instead of saying Americans don't know what they are talking about, maybe Investors Daily needs to understand, that the economy they are waiting for to come back, is gone forever.

    ReplyDelete
    Replies
    1. Investment must come from the private sector because f it doesn't eventually it all will collapse.

      Think about it anon. If that is possible for you.

      Delete
  3. It's NOT coming from the private sector. Now what? You think about it.

    ReplyDelete
  4. There's an interesting video by Ed Butowsky about unemployment and its impact the upcoming Convention and longer term of election. You can watch the video HERE.

    ReplyDelete

As this site encourages free speech and expression any and all honest political commentary is acceptable. Comments with cursing or vulgar language will not be posted.

Effective 8/12/13 Anonymous commenting has been disabled. This unfortunate action was made necessary due to the volume of Anonymous comments that are either off topic or serve only to disrupt honest discourse..

I apologizes for any inconvenience this necessary action may cause the honest Anonymous who would comment here, respect proper decorum and leave comments of value. However, The multitude of trollish attack comments from both the left and right has necessitated this action.

Thank you for your understanding... The management.