Under Obama, Economic Stagnation Is the New Normal

Discussion in 'Politics' started by Wehrwolfen, Dec 10, 2012.

  1. Wehrwolfen
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    Wehrwolfen Senior Member

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    Under Obama, Economic Stagnation Is the New Normal​




    By: Louis Woodhill
    12/10/2012



    Friday's "Employment Situation" report from the Bureau of Labor Statistics (BLS) showed that 5.4 million Americans have dropped out of the labor force since Barack Obama took office. The labor force declined by 350,000 in November, despite an increase of 191,000 in our working age population.

    The unprecedented decline of labor force participation under President Obama is not news. However, it also appears that millions of brain cells have dropped out of the mental labor force of America's economic analysts. How else can we account for headlines like these?

    "Jobs report: A pleasant surprise" (Jared Bernstein)

    "The employment emergency is over" (Felix Salmon)

    "Fiscal cliff? What fiscal cliff? No evidence in jobs numbers" (Stephen Gandel)

    In case anyone didn't notice, the BLS jobs report was terrible. Unemployment didn't go down in November (from 7.9% to 7.7%) as the BLS reported, it actually went up. The true unemployment rate, calculated at the labor force participation rate that existed when Bush 43 left office (65.8%), increased from 10.7% to 10.8%. This put the true unemployment rate 1.3 percentage points higher than when Obama's so-called "economic recovery" began, almost 3.5 years ago.

    As of November 2012, total employment was still 3.2 million below its peak, which occurred five years earlier. This is particularly ghastly, because America's working age population has increased by 11.2 million since then. Less than 1% of incremental working-age Americans have managed to get jobs since Obama took office.

    But wait. There's more.


    (Excerpt)

    Read more:
    RealClearMarkets - Under Obama, Economic Stagnation Is the New Normal
     
  2. Old Rocks
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    Old Rocks Diamond Member

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    But losing 750,000 jobs a month was a good thing? That was what President Obama inherited from the Bush admin. Yes, the recovery is taking longer than we hoped. But it is still going on. In spite of the obstructionist GOP.
     
  3. TakeAStepBack
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    TakeAStepBack Gold Member

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    If you call that a recovery. :lmao:

    Those damned obstructionists! They dont want to give Obama another 3/4 of a trillion to flush down the corruption sewer pipe. DAMN THEM!!! DAMN THEEEEEEMMMM!!!

    LOLberals like Paul Krugman need to go jump off the Cliffs of Moher.
     
  4. Mr. Shaman
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    Mr. Shaman Senior Member

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    UP YOUR ASS, STORMFRONT-GOOBER!!!!


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  5. Mr. Shaman
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    Mr. Shaman Senior Member

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    [​IMG]

    [​IMG] . [​IMG] . [​IMG] . [​IMG]


    :woohoo: . :woohoo: . :woohoo: . :woohoo: . :woohoo: . :woohoo: . :woohoo:

     
  6. SniperFire
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    SniperFire Senior Member

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    That was one month, and it happened when business owners found out that we had just elected a Marxist as POTUS.

    So they rolled up the carpet and headed to the hills, where they will remain for the next 4 years.

    Hey, they don't call it the 'smart money' for nothing!
     
  7. Mr. Shaman
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    Mr. Shaman Senior Member

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    Riiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiight.....


    [ame=http://www.youtube.com/watch?v=1y04g6OPLnQ]Obama Dismantles Republican Caucus Part 1 of 7 - YouTube[/ame]


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