Obama economy remains WORST since Great Depression

[The T]

Riiiight...and you belive the LIE?

Care to show where anything is not true?

Hard to fix a Republican recession

You stupid fuck.
there is no such thing as a republican recession. there is no such thing as a democrat recession.

Gotta love the blame game tied to partisan politics eh?

It's a recession due to Gubmint policies...period.

 

[rightwinger]

This is the Obama economy in the same way the depression was FDRs economy. They were both dealt a catastrophic collapse to deal with. Both tried a similar strategy, as did Reagan......borrow money to infuse cash into a struggling economy. US Industry is still sitting on $2 trillion in cash.....once they let it go, the economy will recover

 

[uscitizen]

FACTS:

*We STILL have RECORD unemployment.
*We STILL have RECORD debt.
*We STILL have RECORD deficits.

Thanks to the tax cuts WE helped pass/extend, individual consumers are able to spend more, as they are more optimistic.

Thanks to us, the well to do consumers will continue to stimulate the economy with their investments.

If the economy is indeed, ACTUALLY GOOD AGAIN by 2012, Obama willl undoubtedly try to lie, and take all the credit, and we will be there to expose said BS.

Anyone who blames the current economic problems on Obama is dumber than a rock.

 

[NYcarbineer]

FACTS:

*We STILL have RECORD unemployment.
*We STILL have RECORD debt.
*We STILL have RECORD deficits.

Thanks to the tax cuts WE helped pass/extend, individual consumers are able to spend more, as they are more optimistic.

Thanks to us, the well to do consumers will continue to stimulate the economy with their investments.

If the economy is indeed, ACTUALLY GOOD AGAIN by 2012, Obama willl undoubtedly try to lie, and take all the credit, and we will be there to expose said BS.

Wrong.

In December of 1982 unemployment was at 10.8%. You remember the Reagan depression, right?

 

[uscitizen]

They also tend to forget the Reagan Amnesty program.

 

[rightwinger]

FACTS:

*We STILL have RECORD unemployment.
*We STILL have RECORD debt.
*We STILL have RECORD deficits.

Thanks to the tax cuts WE helped pass/extend, individual consumers are able to spend more, as they are more optimistic.

Thanks to us, the well to do consumers will continue to stimulate the economy with their investments.

If the economy is indeed, ACTUALLY GOOD AGAIN by 2012, Obama willl undoubtedly try to lie, and take all the credit, and we will be there to expose said BS.

Anyone who blames the current economic problems on Obama is dumber than a rock.

If they weren't blaming Obama they would be blaming Clinton

 

[jillian]

FACTS:

*We STILL have RECORD unemployment.
*We STILL have RECORD debt.
*We STILL have RECORD deficits.

Thanks to the tax cuts WE helped pass/extend, individual consumers are able to spend more, as they are more optimistic.

Thanks to us, the well to do consumers will continue to stimulate the economy with their investments.

If the economy is indeed, ACTUALLY GOOD AGAIN by 2012, Obama willl undoubtedly try to lie, and take all the credit, and we will be there to expose said BS.

Anyone who blames the current economic problems on Obama is dumber than a rock.

If they weren't blaming Obama they would be blaming Clinton

true.. and they still do that.

but it's fun watching the stupid people...

 

[CrusaderFrank]

In 1984 the American people got to vote on how Reagan handled the economy.

 

[uscitizen]

FACTS:

*We STILL have RECORD unemployment.
*We STILL have RECORD debt.
*We STILL have RECORD deficits.

Thanks to the tax cuts WE helped pass/extend, individual consumers are able to spend more, as they are more optimistic.

Thanks to us, the well to do consumers will continue to stimulate the economy with their investments.

If the economy is indeed, ACTUALLY GOOD AGAIN by 2012, Obama willl undoubtedly try to lie, and take all the credit, and we will be there to expose said BS.

Anyone who blames the current economic problems on Obama is dumber than a rock.

If they weren't blaming Obama they would be blaming Clinton

True. Or Carter.

Many blame FDR

 

[CrusaderFrank]

Reagan inherited a far bigger mess.

Prime rate Jan 1981: 20.5%
Prime rate Jan 2008 6.5%

 

[Jroc]

Even Obama's supportors are turning against him.....

Zuckerman: Obamanomics “our economic Katrina”Share

July 17, 2010 by Ed Morrissey

How far out of favor has Barack Obama fallen with the business community? Self-professed Obama supporter and occasional speechwriter Mort Zuckerman wrote a lengthy indictment of Obama’s economic policies in US News & World Report yesterday afternoon, outlining the many ways in which Obama has shown his hostility to capital and private markets. Zuckerman blasted his “gratuitous and overstated demonization of business,” and a lot more:

But one unfortunate pattern that has emerged in the last 18 months is to lay all the blame for our difficulties only on the business community and the financial world. This quite ignores the role of Congress in many areas, but most glaringly in forcing Fannie Mae, Freddie Mac, and the Federal Housing Administration to back loans to people who could not afford them. And not to mention the role of the Securities and Exchange Commission, which in 2004 sanctioned higher levels of leverage for financial firms, from 12 times equity to over 30 times equity.
This predilection to blame business is manifest in the unnecessary and provocative anti-business sentiment revealed by President Obama in a recent speech that was supposed to be seeking the support of the business community for a doubling of exports over the next five years. “In the absence of sound oversight,” he said, “responsible businesses are forced to compete against unscrupulous and underhanded businesses, who are unencumbered by any restrictions on activities that might harm the environment, or take advantage of middle-class families, or threaten to bring down the entire financial system.” This kind of gratuitous and overstated demonization of business is exactly the wrong approach. It ignores the disappointment of a stimulus program that was ill-designed to produce the jobs the president promised—that famous 8 percent unemployment ceiling.


But it’s not just the rhetoric that undermines the confidence the business community needs to find if it is to invest. Consider the new generation of regulatory rules, increased bureaucracy, and higher taxes created by the Obama administration. For example, the new financial regulation bill includes nearly 500 “rule-makings,” studies, and reports, compared with just 14 in total for the controversial Sarbanes-Oxley bill, passed after the financial scandals of Enron and WorldCom. The disillusionment has spread to the Business Roundtable, the U.S. Chamber of Commerce, and the National Federation of Independent Business (NFIB), which represents small businesses that normally account for roughly 60 percent of job creation.

Zuckerman: Obamanomics “our economic Katrina” Hot Air

 

[rdean]

Why do right wingnuts start the same threads over and over again? The first 8 months of any president's first term is based on the budget of the previous president.

At 8 months of Bush's first term, unemployment was 4.7%.

At 8 months of Obama's first term, unemployment was 9.7%.

We know that millions of jobs were moved to China from 2001 to 2008.

We know the current rate of unemployment is 9.8%. At least the hemorrhaging has been somewhat stopped. But it's going to take a lot longer to fix the damage from two Republican terms over 8 years. It won't be fixed overnight. It took them 8 years to create that much damage. It will probably take even longer to "fix", considering they are working to put us even deeper into debt and send even more jobs to China as well as cut spending for education and rebuilding this country.

 

[Jroc]

Many blame FDR

FDR's policies prolonged Depression by 7 years, UCLA economists calculate

Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt.

After scrutinizing Roosevelt's record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years.

"Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10- to 15-year economic slump," said Ohanian, vice chair of UCLA's Department of Economics. "We found that a relapse isn't likely unless lawmakers gum up a recovery with ill-conceived stimulus policies."

In an article in the August issue of the Journal of Political Economy, Ohanian and Cole blame specific anti-competition and pro-labor measures that Roosevelt promoted and signed into law June 16, 1933.

"President Roosevelt believed that excessive competition was responsible for the Depression by reducing prices and wages, and by extension reducing employment and demand for goods and services," said Cole, also a UCLA professor of economics. "So he came up with a recovery package that would be unimaginable today, allowing businesses in every industry to collude without the threat of antitrust prosecution and workers to demand salaries about 25 percent above where they ought to have been, given market forces. The economy was poised for a beautiful recovery, but that recovery was stalled by these misguided policies."

Using data collected in 1929 by the Conference Board and the Bureau of Labor Statistics, Cole and Ohanian were able to establish average wages and prices across a range of industries just prior to the Depression. By adjusting for annual increases in productivity, they were able to use the 1929 benchmark to figure out what prices and wages would have been during every year of the Depression had Roosevelt's policies not gone into effect. They then compared those figures with actual prices and wages as reflected in the Conference Board data.

In the three years following the implementation of Roosevelt's policies, wages in 11 key industries averaged 25 percent higher than they otherwise would have done, the economists calculate. But unemployment was also 25 percent higher than it should have been, given gains in productivity.

Meanwhile, prices across 19 industries averaged 23 percent above where they should have been, given the state of the economy. With goods and services that much harder for consumers to afford, demand stalled and the gross national product floundered at 27 percent below where it otherwise might have been



FDR's policies prolonged Depression by 7 years, UCLA economists calculate / UCLA Newsroom

 

[Jroc]

Why do right wingnuts start the same threads over and over again? The first 8 months of any president's first term is based on the budget of the previous president.

At 8 months of Bush's first term, unemployment was 4.7%.

At 8 months of Obama's first term, unemployment was 9.7%.

We know that millions of jobs were moved to China from 2001 to 2008.

We know the current rate of unemployment is 9.8%. At least the hemorrhaging has been somewhat stopped. But it's going to take a lot longer to fix the damage from two Republican terms over 8 years. It won't be fixed overnight. It took them 8 years to create that much damage. It will probably take even longer to "fix", considering they are working to put us even deeper into debt and send even more jobs to China as well as cut spending for education and rebuilding this country.

Look idiot.. If the business climate were better here they wouldn't be moving those Jobs to China. Obama has done nothing but prolong this recession. Tim Hortons is even reincorporating in CANADA!! Because corporate taxes are lower there now, they were smart enough in Canada to lower there business taxes, unlike the idiot libs here that just want to tax and tax some more. You're clueless

 

[SFC Ollie]

Why do right wingnuts start the same threads over and over again? The first 8 months of any president's first term is based on the budget of the previous president.

At 8 months of Bush's first term, unemployment was 4.7%.

At 8 months of Obama's first term, unemployment was 9.7%.

We know that millions of jobs were moved to China from 2001 to 2008.

We know the current rate of unemployment is 9.8%. At least the hemorrhaging has been somewhat stopped. But it's going to take a lot longer to fix the damage from two Republican terms over 8 years. It won't be fixed overnight. It took them 8 years to create that much damage. It will probably take even longer to "fix", considering they are working to put us even deeper into debt and send even more jobs to China as well as cut spending for education and rebuilding this country.

Democrats controlled congress the last 4 years. Maybe now we can start fixing some things.

 

[Jroc]

Wynn's remarks rattle Las Vegas gaming

Says he might move his headquarters to enclave of Macau


Steve Wynn's announcements usually draw lots of raves and praise from Las Vegans, but not this time.

Local gaming and government officials instead were expressing skepticism and concern after the Wynn Resorts chairman said on a cable business network Wednesday that he was considering moving his company's corporate headquarters from Las Vegas to Macau.


"I would say it's just talk. It would be difficult to coordinate all his interests from Macau," said Bill Thompson, a University of Nevada, Las Vegas public administration professor who specializes in gaming matters. "Symbolically, it would have a negative impact and send a really bad message about Las Vegas. Maybe (Wynn) wants something and he's just saying this to get it out of his system."

Wynn's surprise announcement on CNBC came on the same day he opened the $600 million Encore, a 414-room, all-suite expansion of his Wynn Macau.

The announcement was one of several notable remarks Wynn made during a series of media interviews surrounding the unveiling of the new Macau hotel-casino.

In addition to suggesting he would transplant his corporate headquarters to Macau, a special administrative region of China, Wynn said he hopes to begin construction next year on a third hotel-casino on a 52-acre site on Macau's Cotai Strip.

Wynn also criticized the policies of President Barack Obama, continuing a dialogue he began in October when he appeared on several Fox News television talk shows to lambaste the administration's handling of the economy.

It was his announcement that he is considering moving his headquarters and some 100 corporate staff to Macau that attracted most of the attention locally, though.Rep. Shelley Berkley, D-Las Vegas, said she hoped Wynn wouldn't follow through with his idea.

"The loss of Wynn Resorts would be a devastating blow to Southern Nevada and our economy," Berkley said. "Much of the modern image of Las Vegas that is known around the globe today exists as a result of his vision and he remains a leader in the industry."

Las Vegas Mayor Oscar Goodman also hoped the casino developer isn't serious about the idea.

"We want all of our gaming executives to think of Las Vegas as being No. 1," Goodman said. "To move the headquarters to another place indicates they don't feel that way."

Wynn Resorts is a member of the Las Vegas Chamber of Commerce and the organization's spokeswoman thought a move to China would not be a unifying message.

"As we rebuild our economy, Las Vegas needs the creativity of visionaries such as Steve Wynn at the forefront of reshaping Las Vegas for the next phase of our growth," said Cara Roberts, the chamber's director of public relations.

Wynn's remarks rattle Las Vegas gaming - News - ReviewJournal.com

 

[finebead]

Title of thread, Obama economy worst since great depression.

Could it be because the repubs trashed the economy and handed Obama the WORST RECESSION SINCE THE GREAT DEPRESSION? Yes.

How did Bush and repubs do in the decade, when they took over a mild recession from Clinton? They overstimulated housing, under-regulated the banks, and produced the first banking crisis in this country SINCE the great depression. There was a terrible credit crunch and banks did not want to lend. Business can't expand in the face of that. And that's after Bush got everything he wanted including 2 tax cuts, one in 01 and a second in 03. How'd that work out?

 

[Big Fitz]

Could it be because the repubs trashed the economy and handed Obama the WORST RECESSION SINCE THE GREAT DEPRESSION? Yes.

You could try to say that. But it'd be a lie. You can thank the Peelousy/Greid congress for most of it, and the Bush/Bernanke whitehouse for going along with it in 2008, but this has been coming since the 1930's thanks to the wrongheaded and obsolete New Deal. It was accelerated through the 1960's with the Great Society. And now here we are. Back broken by government meddling in the economy once again.

 

[jillian]

Could it be because the repubs trashed the economy and handed Obama the WORST RECESSION SINCE THE GREAT DEPRESSION? Yes.

You could try to say that. But it'd be a lie. You can thank the Peelousy/Greid congress for most of it, and the Bush/Bernanke whitehouse for going along with it in 2008, but this has been coming since the 1930's thanks to the wrongheaded and obsolete New Deal. It was accelerated through the 1960's with the Great Society. And now here we are. Back broken by government meddling in the economy once again.

 

[JakeStarkey]

Big Fitz and Jroc tell the lies here, falsifying facts and posting ages old documents.

Come here, listen. Go check the DOW. Go check the NASDAQ. Go check Christmas spending. Go check the total volume of jobs created this year.

You two clowns are simply unhappy (1) that the economy has solidly turned around after the mess from 1994 to 2006, and (2) that the president kicked the crap out of the republicans in the lame duck session, and (3) BHO is looking good in 2012 for re-election.

So go suck your lemons and shut up.