American net worth is up $9 trillion dollars since the stimulus

[expat_panama]

...Revenue had been falling before the rate cuts, and revenue soared to an all time high afterward. The deficits would have been far worse if revenue had continued to fall without the rate cuts.

Of course revenue pops when there is a fake sub-prime boom going on that also exploded the debt. How about showing us a chart of revenue as a percent of GDP? ...

No, you can start some other thread on that one but for here lets just stay on topic --namely,

...This thread credits Obama's stimulus for a 5.6% annual growth in private net worth. That's less than the 6.8% average since 1949. Bush's tax-cuts were followed by 14% growth. That's far better than average...

Bottom line here is that 'thanking' Obama for a mere $9T in wealth creation admits that the policy falls far short of what we had with tax-cuts plus spending limits.

 

[expat_panama]

...Here is all the data, not some small selection...

Sounds like you're happier with those other data. All I see is yet another digression upon repeated subject changes --all leading to a clouded muddle of extremist political dogma.

Clarity.

Obama's being 'thanked' for below average wealth growth. Either Obama's actually responsible and should be stopped, or Obama's not doing anything and we need someone who's willing to act appropriately.

 

[Staidhup]

This thread, like all his rest, are a waste of time. How's that hope for spare change going Chris?

 

[KissMy]

The Disconnect Between Household Wealth and GDP Growth

The world’s leading economy, in the most dynamic, inventive period in human history, failed to make people a penny richer.

GDP went up. But real wages did not. In fact, people got nowhere financially — if they were lucky. And many families got caught in the credit/housing bubble. When it blew up they got knocked back…actually losing wealth.

We’ll give you the conclusion before we give you the facts: the “growth” in the last 20 years was largely phony. The wheels on the economy spun around faster and faster. The shopping malls were full. Houses were built on nearly every vacant lot. Wall Street cashed big checks. But, overall, it was an illusion. Compared to a real boom, it was a counterfeit. Nobody got anywhere.

 

[expat_panama]

The Disconnect Between Household Wealth and GDP Growth

..the “growth” in the last 20 years was largely phony. The wheels on the economy spun around faster and faster. The shopping malls were full. Houses were built on nearly every vacant lot. Wall Street cashed big checks. But, overall, it was an illusion. Compared to a real boom, it was a counterfeit. Nobody got anywhere.

Whoa!!! We started with the fed's wealth stats, switched to The New York Times version of the Fedstats, and now we see DAILYRECONING's rehash of the NYT rant come up with the exact opposite of what the Fed reported in the first place.

Neat!

 

[thereisnospoon]

LOL, really? Nobody forced the banks to make risky loans.

Absolutely false. The federal government has indeed forced them to do that. Now, you can certainly argue that it was a minor factor in the crash, but don't say they have never been forced to make risky loans because that is factually wrong.

No.

Oh the government most certainly did force banks to make loans to previously unqualified people.
Government officials made it abundantly clear that for those banks that did not go along with the plan there would be trouble. The accusations of "red lining" would be flying if the lending did not get done.

 

[hortysir]

Thanks, President Obama....

http://research.stlouisfed.org/fred2/data/TNWBSHNO.txt

2006-07-01 63746.53
2006-10-01 65648.06
2007-01-01 66724.24
2007-04-01 67324.39
2007-07-01 67459.23
2007-10-01 66165.96
2008-01-01 63552.06


2011-07-01 58088.11
2011-10-01 60037.31
2012-01-01 62865.58


Yet still nowhere near 2007, though, hunh?!

 

[Inthemiddle]

Absolutely false. The federal government has indeed forced them to do that. Now, you can certainly argue that it was a minor factor in the crash, but don't say they have never been forced to make risky loans because that is factually wrong.

No.

Oh the government most certainly did force banks to make loans to previously unqualified people.
Government officials made it abundantly clear that for those banks that did not go along with the plan there would be trouble. The accusations of "red lining" would be flying if the lending did not get done.

No.

 

[onecut39]

OMG, I thought I had seen it all but really?

America's Average Net worth is DOWN by 40%.

What a ******* loser.

It depends on whose net worth you are referring. The top 5% have done wonderfully well.

The rest of us? Not so much!

 

[onecut39]

Absolutely false. The federal government has indeed forced them to do that. Now, you can certainly argue that it was a minor factor in the crash, but don't say they have never been forced to make risky loans because that is factually wrong.

No.

Oh the government most certainly did force banks to make loans to previously unqualified people.
Government officials made it abundantly clear that for those banks that did not go along with the plan there would be trouble. The accusations of "red lining" would be flying if the lending did not get done.

The government did not force banks to loan money to anyone. It did pass regulations that made it possible for banks to make money hedging bets, often against their own clients.

I have nothing against casinos. I just wish we would not call them banks!

 

[thereisnospoon]

No.

Oh the government most certainly did force banks to make loans to previously unqualified people.
Government officials made it abundantly clear that for those banks that did not go along with the plan there would be trouble. The accusations of "red lining" would be flying if the lending did not get done.

No.

He says with head up Obama's ass.
Hey, ignoring the facts do not make them go away.

 

[thereisnospoon]

No.

Oh the government most certainly did force banks to make loans to previously unqualified people.
Government officials made it abundantly clear that for those banks that did not go along with the plan there would be trouble. The accusations of "red lining" would be flying if the lending did not get done.

The government did not force banks to loan money to anyone. It did pass regulations that made it possible for banks to make money hedging bets, often against their own clients.

I have nothing against casinos. I just wish we would not call them banks!

Really?.
Ok..Sure...
Obama Sued Citibank Under CRA to Force it to Make Bad Loans – UPDATED « The IUSB Vision Weblog
http://www.softpanorama.org/Skeptic...pitalism/Corruption_of_regulators/index.shtml

 

[starcraftzzz]

Oh the government most certainly did force banks to make loans to previously unqualified people.
Government officials made it abundantly clear that for those banks that did not go along with the plan there would be trouble. The accusations of "red lining" would be flying if the lending did not get done.

The government did not force banks to loan money to anyone. It did pass regulations that made it possible for banks to make money hedging bets, often against their own clients.

I have nothing against casinos. I just wish we would not call them banks!

Really?.
Ok..Sure...
Obama Sued Citibank Under CRA to Force it to Make Bad Loans – UPDATED « The IUSB Vision Weblog
Corruption of Regulators

since when did suing a bank who gave bad loans based on race constitute forcing that bank to give shitty loans? are you really this retarded

 

[Chris]

The stock market has doubled since the stimulus.
4.2 million private sector jobs have been created since 2009.
GDP has been growing since 2009.
Americans net worth is up $9 trillion dollars since 2009.
Auto sales are up. Retail sales are up. Home sales are up. Unemployment is down.
GM was saved, and is now the number one automaker in the world.
Obama has done a very good job.

 

[thereisnospoon]

The government did not force banks to loan money to anyone. It did pass regulations that made it possible for banks to make money hedging bets, often against their own clients.

I have nothing against casinos. I just wish we would not call them banks!

Really?.
Ok..Sure...
Obama Sued Citibank Under CRA to Force it to Make Bad Loans – UPDATED « The IUSB Vision Weblog
Corruption of Regulators

since when did suing a bank who gave bad loans based on race constitute forcing that bank to give shitty loans? are you really this retarded

Don't be naive. It in very poor form. Especially from one who claims to know all. Get it?
Look, master of vapidity, the lawsuit is not simply a vessel by which the successful plaintiff collects a judgement. Suits are also used to COMPEL others to do something. In other words, a victory for the plaintiff( The White House) would FORCE banks to comply.
Jesus Christ.
And I AM the retard.
Look genius, before you type, use your brain...If ya got one.

 

[thereisnospoon]

The stock market has doubled since the stimulus.
4.2 million private sector jobs have been created since 2009.
GDP has been growing since 2009.
Americans net worth is up $9 trillion dollars since 2009.
Auto sales are up. Retail sales are up. Home sales are up. Unemployment is down.
GM was saved, and is now the number one automaker in the world.
Obama has done a very good job.

Shut up...You post this shit just to rattle chains.
You live in LA LA land.
Then YOU vote for Obama. Hopefully he'll keep ******* up and you will be part of the losing team.
BTW, those claims you posted up there.....Pure unprocessed bullshit...
I think you've shown your man crush on Obama one too many times.

 

[starcraftzzz]

The stock market has doubled since the stimulus.
4.2 million private sector jobs have been created since 2009.
GDP has been growing since 2009.
Americans net worth is up $9 trillion dollars since 2009.
Auto sales are up. Retail sales are up. Home sales are up. Unemployment is down.
GM was saved, and is now the number one automaker in the world.
Obama has done a very good job.

Shut up...You post this shit just to rattle chains.
You live in LA LA land.
Then YOU vote for Obama. Hopefully he'll keep ******* up and you will be part of the losing team.
BTW, those claims you posted up there.....Pure unprocessed bullshit...
I think you've shown your man crush on Obama one too many times.

to you reality is lala

 

[Rozman]

Thanks, President Obama....

http://research.stlouisfed.org/fred2/data/TNWBSHNO.txt

I did a little research on this and I was shocked to find out that this
was sort of true.
I hate to admit when a Lib is right...
Right in the sense that Americans are so much better off since the stimulus but the numbers are way off....

Its not that Americans worth is up 9 trillion dollars...
Americans worth is really up 799 trillion dollars because of the stimulus...
The article contained a typo....

Thanks Chris for the post....

 

[Chris]

OMG, I thought I had seen it all but really?

America's Average Net worth is DOWN by 40%.

What a ******* loser.

Net worth was down 40% from 2007 to 2010 because of the Bush collapse.

Reading is fundamental.

 

[Chris]

Thanks, President Obama....

http://research.stlouisfed.org/fred2/data/TNWBSHNO.txt

I did a little research on this and I was shocked to find out that this
was sort of true.
I hate to admit when a Lib is right...
Right in the sense that Americans are so much better off since the stimulus but the numbers are way off....

Its not that Americans worth is up 9 trillion dollars...
Americans worth is really up 799 trillion dollars because of the stimulus...
The article contained a typo....

Thanks Chris for the post....

What a bizarre post. What article?

Here are the real numbers in billions of dollars from the federal reserve....

2009-01-01 51271.48
2009-04-01 52402.58
2009-07-01 54629.51
2009-10-01 55594.93
2010-01-01 56644.97
2010-04-01 55195.75
2010-07-01 57080.16
2010-10-01 59159.92
2011-01-01 60856.50
2011-04-01 60722.36
2011-07-01 58088.11
2011-10-01 60037.31
2012-01-01 62865.58

http://research.stlouisfed.org/fred2/data/TNWBSHNO.txt