Has Obama' policies put us in another recession?

[bigrebnc1775]

Has Obama' policies put us in another recession?

Extremely unlikely. The current Administration hasn’t been in office long enough for its policies, such as they are, to have any impact on the economy, good or bad. And these are hardly ‘Obama’s policies, as he’s merely continuing the same policies used by GWB toward the end of his term and the same policies McCain would have used had he’d been president.

If there’s another recession, it will be the consequence of consumers over-burdened with debt without the means to spend, an almost non-existent housing market, continued economic turmoil in the EU, and corporations unwilling to invest their enormous cash reserves and/or hire new employees because they know consumers can’t spend.

We know it's all Buooosh'es fault and 6 years from now you'll find something else to blame.

 

[Londoner]

Speaking in terms of recessions is misleading. This is much bigger than a series of recessions.

The country is in the final stages of a massive transformation: the end of the middle class. Government has been fully captured by the wealthy.

Postwar years: Progressive taxation, regulations, labor laws, programs, entitlements, safety nets . . . were all used to create a powerful, upwardly mobile middle class with money to spend. Because the middle class had money, the capitalist was forced to innovate and add jobs to capture that money. The result was unprecedented economic growth.

(The postwar liberals created the most powerful demand-centered economy in history. America was unique in that government ensured that workers had enough financial security to buy what they produced; essentially government ensured that the middle class participated in economic growth (unlike today where we see historic profits coupled with a bankrupt middle class. Now, only the wealthy and their share holders participate in economic growth). Keep in mind:The 3rd world does not depend on vibrant domestic consumption - their wages were never designed to support a consumption economy. America wages, on the other hand, were designed to support the largest consumption economy on earth. [America is singular in her quantity of shopping malls, all of which depend on high wages, benefits, and entitlements so that average Americans can consume] You cannot defund the American consumer - which we have done since 1980 - without creating chaos. We have tried to fight that chaos with gimmicks since Reagan)

The Age of Reagan: Withdraw demand centered policies in favor of tax cuts for the wealthy. This lead to an absence of demand (e.g., if you cut their wages, benefits, and entitlements, and if you give their medical insurance and energy to monopolies, and if you withdraw funds from education, than the middle class will no longer have money to purchase things. When consumers don't have money to buy things, the country goes into recession. To combat recessions since Reagan, the country expanded credit and performed every easy money trick in the book. Why do you think we all started receiving 3 credit card offers a week since the 80s? Reaganomics used credit to fuel demand in the absence of wages/benefits/programs/entitlements. Our over-reliance on credit eventually lead to a crisis where the middle class had too much debt to keep borrowing. It got so bad that Americans turned to their homes for money - they did anything to make up for the fact that the unprecedented wealth on top was not trickling down into solid jobs. Alas, we have finally run out of credit. Morning in America paid for by American Express is over. We are now slipping into a deep crisis that will turn America into a much different place. People have no idea how ugly a post middle class America will get)

Post Meltdown: The US moves toward the distribution and social structure of the 3rd world: massive poverty surrounded by concentrated pockets of wealth. The wealthy will increasingly concentrate in safe/isolated/hyper secure neighborhoods, while the masses will be thrust into decaying slums.

It will take a police state to manage the coming unrest. Why do you think Reaganomics was so focused on the War on drugs and beefing up law enforcement? Why do you think Bush created Patriot Act, vastly expanding Big Government surveillance. Because when you unwind a welfare state and drive down wages, you better be prepared for all the desperate people with nothing to lose.

How did they do it? Money talks: large corporations own government and media, and they have convinced many uneducated republicans that everything done for the non-wealthy is socialism. Corporations, by pouring money into Washington and media, have successfully convinced the nation to defund the middle class so that the super rich could receive massive tax cuts.

Reagan's dream has been realized. The entitlement fed middle class is almost gone - they are no longer weighing down supply chains with expensive labor; they are no longer standing in the way of too-big-to-fail monopolies; they no longer have regulators checking the balance sheet of Enron or the PCBs GE is dumping in the Hudson; they are no longer politically capable of demanding affordable education and the tools of upward mobility - which is to say: they are no longer a tax burden on the wealthy. Capital finally has cheap labor in America. Government now subsidizes crooked lenders while foreclosing on the middle class. Some day the Republicans will erase the Hoover Dam because it proves that there are some things which only government can do, despite the wayward lunacy of civil war re-enactors and tea party bozos.

(The problem with cheap labor is this: people with no wages/benefits/etc don't have enough money to buy things . . . and when consumers stop buying things, the economy dies and job loss spirals out of control)

(America's great consumption economy is on life support. 40 years of building shopping malls is about to come crashing down. The country's social structure will be ripped to shreds)

(whoops)

 

[oreo]

Stimulus
His 1/2 of tarp

The dow is below 11,0000
deficits are so bad that S&P gave us a down grade

UE is getting worse
Are we all ready in another recession?
has real GDP growth began to go in reverse?

YE....SSSS--Barack Obama's failed policies of wealth redistribution--and his continual threat to business in this country--has brought us back to the brink.

Here again is DEMOCRAT and one who voted for Obama--Steve Wynn's of Wynn's casino and resort in LV--comments on Barack Obama.

“I’m saying it bluntly, that this administration is the greatest wet blanket to business, progress and job creation in my lifetime. A lot of people don’t want to say that. They’ll say, ‘Oh God, don’t be attacking Obama.’ Well, this is Obama’s deal, and it’s Obama that’s responsible for this fear in America.”

“The guy [Obama] keeps making speeches about redistribution, and maybe ‘we ought to do something to businesses that don’t invest or hold too much money.’ We haven’t heard that kind of talk except from pure socialists.”

“Business is being hammered. The business community in this country is frightened to death of the weird political philosophy of the president of the United States. Until he’s gone, everybody’s going to be sitting on their thumbs.”

Steve Wynn's Anti-Obama Rant - Is He Right? | BNET



Martha's Vineyard--there he goes!

 

[hellofromwarsaw]

This IS a low point. No more Pubs, PLEASE...

 

[Full-Auto]

This IS a low point. No more Pubs, PLEASE...

One or two thousand more regulations and were there right?

 

[Big Fitz]

This IS a low point. No more Pubs, PLEASE...

Your mother ever have any children that lived?

 

[hellofromwarsaw]

The people doing the scaring is the 24/7/365 Pub propaganda Fear Mongering Machine, the a-holes that got us here- now have ruined the recovery...

 

[hellofromwarsaw]

Tell us again how we're massacring Libyan women and children for no reason- as Gaddafi flies the coop...moron pub dupes...

 

[Oldstyle]

The people doing the scaring is the 24/7/365 Pub propaganda Fear Mongering Machine, the a-holes that got us here- now have ruined the recovery...

You really are delusional.

Here's reality...

Barack Obama ran for president on a platform of Change You Can Believe In. He promised transparency. He promised bi-partisanship. He promised a balanced budget by the end of his first term. He promised that he would surround himself with the brightest, most qualified administration ever. HE PROMISED THAT HE HAD SOLUTIONS TO OUR PROBLEMS.

So the American people voted him into office. They gave the Democrats super majorities in the Senate and the House. Barack Obama started his administration with high public approval marks at home and a Nobel Peace Prize from the world community.

And since that time?

I think the best word to describe what's happened would be "underwhelming".

There has been no transparency with this administration. Bills were written behind closed doors and rushed through votes before they were even read by the legislators that voted on them.

There has been no bi-partisanship. As soon as the Democrats took control they essentially locked the Republicans out in the hall and did what they felt like. Does anyone remember Obama telling Republicans meeting with him that "I won the election" and ending any talk of compromise right then and there?

Not only has there not been a balanced budget but this Administration didn't even come up with ANY budget for over 800 days.

Then there is the people he has appointed. Christina Romer? Larry Summers? Timothy Geithner? These were the economic "dream team" that was supposed to get us out of a fiscal crisis and get the economy booming again? It just goes to show that Obama is as poorly suited at evaluating staff hires, as he is to understanding economics.

And last but certainly not least...Obama's "solutions". Facing crippling unemployment, a housing sector in shambles and jobs being sucked out of the country like someone was holding a giant Hoover vacuum cleaner over the rust belt...what did our new President "do"? He spent all of his political capital on ANOTHER massive entitlement program, Obamacare...one that didn't address the costs of health care...didn't address tort reform...didn't address doctor's increasing refusal to take on more Medicare patients because they weren't getting paid enough on them to cover costs...and worst of all made it more difficult for employers to hire because of looming health insurance costs.

So, let's see...we've got THAT going on...but you're going to give 'ole Barack a pass on any responsibility for screwing up and blame it ALL on Republicans?

 

[LibocalypseNow]

Yes.

 

[hellofromwarsaw]

Who have obstructed everything since 1/2010? Yup. Obamacare btw will save tons of money and make us competitive...in 2014. You are misled.

 

[bigrebnc1775]

This IS a low point. No more Pubs, PLEASE...

Here's how you can get rid of Republicans. Move to China, you'll be much happier in the system you so much deserve to live in. No more rich wealthy running the government.

 

[hellofromwarsaw]

Greedy stupid rich, when Pubs are in....

 

[bigrebnc1775]

Greedy stupid rich, when Pubs are in....

You do realize Congress has some of the wealthest in America as our elected officals the top 6 are worth over 2 trillion dollars 5 of them are democrats.

 

[Full-Auto]

Who have obstructed everything since 1/2010? Yup. Obamacare btw will save tons of money and make us competitive...in 2014. You are misled.

Now thats funny, not the statement itself, but you believing it.

 

[bigrebnc1775]

Who have obstructed everything since 1/2010? Yup. Obamacare btw will save tons of money and make us competitive...in 2014. You are misled.

Now thats funny, not the statement itself, but you believing it.

Just a couple more weeks and junior will have to go back to school

 

[hellofromwarsaw]

And you believe Rush and Sean and Savage. Bought off a-holes!! Tell me how we're massacring Libyan children again...and wave good bye to your hero Kaddafi!

 

[hellofromwarsaw]

Junior is 60, has a masters in World History, speaks 3 languages, and retired from teaching and business.

 

[Charles_Main]

Stimulus
His 1/2 of tarp

The dow is below 11,0000
deficits are so bad that S&P gave us a down grade

UE is getting worse
Are we all ready in another recession?
has real GDP growth began to go in reverse?

His Policies are undeniably slowing growth of our Economy.

Even his stimulus only gave us a small short term Bump.

Obamacare, Dodd Frank, and heaps of new Regulations he has added are killing the Economy.

So hell yes he caused another Recession.

 

[Charles_Main]

And you believe Rush and Sean and Savage. Bought off a-holes!! Tell me how we're massacring Libyan children again...and wave good bye to your hero Kaddafi!

ROFLMAO I bet during Iraq you could have been on the Receiving end of this type of line.

How is it you libs can be all for sending our troops into Libya for Humanitarian Reasons, Yet still oppose the War in Iraq which of course has the Same Powerful, or even more Powerful Humanitarian Reasons to support. Saddam slaughtered roughly 1 Million People a year when he was in power.

Hypocrites