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Thread: To Anyone That Believes That The U.S. Economy Is Just Fine

  1. #1

    To Anyone That Believes That The U.S. Economy Is Just Fine

    No, the economy is most definitely not "recovering". Despite what you may hear from the politicians and from the mainstream media, the truth is that the U.S. economy is in far worse shape than it was prior to the last recession. In fact, we are still pretty much where we were at when the last recession finally ended. When the financial crisis of 2008 struck, it took us down to a much lower level economically. Thankfully, things have at least stabilized at this much lower level. For example, the percentage of working age Americans that are employed has stayed remarkably flat for the past four years. We should be grateful that things have not continued to get even worse. It is almost as if someone has hit the "pause button" on the U.S. economy. But things are definitely not getting better, and there are a whole host of signs that this bubble of false stability will soon come to an end and that our economic decline will accelerate once again. The following are 17 facts to show to anyone that believes that the U.S. economy is just fine... #1 The homeownership rate in the United States has dropped to the lowest level in 19 years.
    #2 Consumer spending for durable goods has dropped by 3.23 percent since November. This is a clear sign that an economic slowdown is ahead.
    #3 Major retailers are closing stores at the fastest pace that we have seen since the collapse of Lehman Brothers.
    #4 According to the Bureau of Labor Statistics, 20 percent of all families in the United States do not have a single member that is employed. That means that one out of every five families in the entire country is completely unemployed.
    #5 There are 1.3 million fewer jobs in the U.S. economy than when the last recession began in December 2007. Meanwhile, our population has continued to grow steadily since that time.
    #6 According to a new report from the National Employment Law Project, the quality of the jobs that have been "created" since the end of the last recession does not match the quality of the jobs lost during the last recession...

    • Lower-wage industries constituted 22 percent of recession losses, but 44 percent of recovery growth.
    • Mid-wage industries constituted 37 percent of recession losses, but only 26 percent of recovery growth.
    • Higher-wage industries constituted 41 percent of recession losses, and 30 percent of recovery growth.

    #7 After adjusting for inflation, men who work full-time in America today make less money than men who worked full-time in America 40 years ago.
    #8 It is hard to believe, but 62 percent of all Americans make $20 or less an hour at this point.
    #9 Nine of the top ten occupations in the U.S. pay an average wage of less than $35,000 a year.
    #10 The middle class in Canada now makes more money than the middle class in the United States does.
    #11 According to one recent study, 40 percent of all Americans could not come up with $2000 right now even if there was a major emergency.
    #12 Less than one out of every four Americans has enough money put away to cover six months of expenses if there was a job loss or major emergency.
    #13 An astounding 56 percent of all Americans have subprime credit in 2014.
    #14 As I wrote about the other day, there are now 49 million Americans that are dealing with food insecurity.
    #15 Ten years ago, the number of women in the U.S. that had jobs outnumbered the number of women in the U.S. on food stamps by more than a 2 to 1 margin. But now the number of women in the U.S. on food stamps actually exceeds the number of women that have jobs.
    #16 69 percent of the federal budget is spent either on entitlements or on welfare programs.
    #17 The number of Americans receiving benefits from the federal government each month exceeds the number of full-time workers in the private sector by more than 60 million.
    Taken individually, those numbers are quite remarkable.
    Taken collectively, they are absolutely breathtaking.
    Yes, things have been improving for the wealthy for the last several years. The stock market has soared to new record highs and real estate prices in the Hamptons have skyrocketed to unprecedented heights.
    But that is not the real economy. In the real economy, the middle class is being squeezed out of existence. The quality of our jobs is declining and prices just keep rising. This reality was reflected quite well in a comment that one of my readers left on one of my recent articles...
    It is getting worse each passing month. The food bank I help out, has barely squeaked by the last 3 months. Donors are having to pull back, to take care of their own families. Wages down, prices up, simple math tells you we can not hold out much longer. Things are going up so fast, you have to adopt a new way of thinking. Example I just had to put new tires on my truck. Normally I would have tried to get by to next winter. But with the way prices are moving, I decide to get them while I could still afford them. It is the same way with food. I see nothing that will stop the upward trend for quite a while. So if you have a little money, and the space, buy it while you can afford it. And never forget, there will be some people worse off than you. Help them if you can.
    And the false stock bubble that the wealthy are enjoying right now will not last that much longer. It is an artificial bubble that has been pumped up by unprecedented money printing by the Federal Reserve, and like all bubbles that the Fed creates, it will eventually burst.
    None of the long-term trends that are systematically destroying our economy have been addressed, and none of our major economic problems have been fixed. In fact, as I showed in this recent article, we are actually in far worse shape than we were just prior to the last major financial crisis.
    Let us hope that this current bubble of false stability lasts for as long as possible.
    That is what I am hoping for.
    But let us not be deceived into thinking that it is permanent.
    It will soon burst, and then the real pain will begin.
    17 Facts To Show To Anyone That Believes That The U.S. Economy Is Just Fine

    Unfortunately, one day the patches will not work anymore and the holes will pop like Champagne corks...
    Those who can make you believe absurdities can make you commit atrocities.

    Voltaire


  2. #2
    Obamanomics under fire from GOP as economy slows to 0.1 percent growth rate

    The U.S. economy slowed to an anemic pace in the first quarter of the year, according to new Commerce Department estimates, renewing Republican claims that Obama administration policies are slamming the brakes on the recovery. The department estimated that growth slowed to a barely discernible 0.1 percent annual rate between January and March. That was the weakest pace since the end of 2012 and was down from a 2.6 percent rate in the previous quarter.
    "This report is more than a low number; it is a reflection of the real economic despair that persists in the sixth year of the Obama presidency," said Brendan Buck, spokesman for House Speaker John Boehner.
    The slowdown, while worse than expected, is likely to be temporary as growth rebounds with warmer weather. The White House pointed to "historically severe winter weather" as a factor, and noted that these figures are subject to revision.
    But Republicans, who even before the report was released were hammering the administration over policies they claim are holding back job growth, said weather is not the only factor. They've long argued that a heavy regulatory hand, and various mandates attached to the Affordable Care Act, are hurting the economy.
    Rep. Kevin Brady, R-Texas, chairman of the Joint Economic Committee, said "the only people doing well in this recovery are those who have benefited from the Federal Reserve's continued monetary morphine that has juiced profits on Wall Street, while family incomes have stagnated."
    He, like other Republicans and some moderate Democrats, pushed again for the approval of the Canada-to-Texas Keystone pipeline, which the administration has so far declined to make a decision on.
    Boehner's office also used the low GDP number to argue against a federal minimum wage increase. A Senate bill to gradually raise the $7.25 hourly minimum to $10.10 over 30 months came up for a test vote early Wednesday afternoon, but failed to advance.
    "This news should reinforce that we need a new approach for jobs," Buck said.
    The White House, though, continued to voice support for the minimum wage bill, saying it would "benefit more than 28 million hardworking Americans nationwide."
    The White House claims despite the extra cost, businesses would benefit from "increased worker productivity and reduced turnover," and the economy would benefit from workers having more money in their pockets.
    Many economists said the government's first estimate of growth in the January-March quarter was skewed by weak figures early in the quarter. They noted that several sectors -- from retail sales to manufacturing output -- rebounded in March. That strength should provide momentum for the rest of the year.
    And on Friday, economists expect the government to report a solid 200,000-plus job gain for April.
    "While quarter one was weak, many measures of sentiment and output improved in March and April, suggesting that the quarter ended better than it began," said Dan Greenhaus, chief investment strategist at global financial services firm BTIG.
    Still, the anemic growth last quarter is surely a topic for discussion at the Federal Reserve's latest policy meeting, which ends Wednesday afternoon. No major changes are expected in a statement the Fed will release. But it will likely announce a fourth reduction in its monthly bond purchases because of the gains the economy has been making. The Fed's bond purchases have been intended to keep long-term loan rates low.
    In its report Wednesday, the government said consumer spending grew at a 3 percent annual rate last quarter. But that gain was dominated by a 4.4 percent rise in spending on services, reflecting higher utility bills. Spending on goods barely rose. Also dampening growth were a drop in business investment, a rise in the trade deficit and a fall in housing construction.
    The scant 0.1 percent growth rate in the gross domestic product, the country's total output of goods and services, was well below the 1.1 percent rise economists had predicted. The last time a quarterly growth rate was so slow was in the final three months of 2012, when it was also 0.1 percent.
    A variety of factors held back first-quarter growth. Business investment fell at a 2.1 percent rate, with spending on equipment plunging at a 5.5 percent annual rate. Residential construction fell at a 5.7 percent rate. Housing was hit by winter weather and by other factors such as higher home prices and a shortage of available houses.
    A widening of the trade deficit, thanks to a sharp fall in exports, shaved growth by 0.8 percentage point in the first quarter. Businesses also slowed their restocking, with a slowdown in inventory rebuilding reducing growth by nearly 0.6 percentage point.
    Also holding back growth: A cutback in spending by state and local governments. That pullback offset a rebound in federal activity after the 16-day partial government shutdown last year.
    Economists say most of the factors that held back growth in the first quarter have already begun to reverse. Most expect a strong rebound in growth in the April-June quarter.
    Meanwhile, the unemployment rate is gradually coming down. A group of economists surveyed this month by The Associated Press said they expected unemployment to fall to 6.2 percent by the end of this year from 6.7 percent in March.
    Obamanomics under fire from GOP as economy slows to 0.1 percent growth rate | Fox News
    Those who can make you believe absurdities can make you commit atrocities.

    Voltaire


  3. #3
    The only reason the Obama economy is not doing well is because Republicans are racist.

    In addition to the fraudulent method Obama uses to calculate the unemployment rate, the Obama administration recently changed the way that GDP growth is measured. The new method boosts the numbers, which means the current .1% growth rate is an inflated number.


    There are signs that at least a few people in the media are starting to wake up. Several are now seeing that this is one of the most corrupt administrations in the history of the country. Several anti-Obama books from liberal media people are due to be released near the end of this year. The media is getting tired of being forced to file law suits to get access to information from "the most transparent administration in the history of the country."
    "Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote." -- Benjamin Franklin


  4. #4
    Quote Originally Posted by TopDogger View Post
    The only reason the Obama economy is not doing well is because Republicans are racist.

    In addition to the fraudulent method Obama uses to calculate the unemployment rate, the Obama administration recently changed the way that GDP growth is measured. The new method boosts the numbers, which means the current .1% growth rate is an inflated number.


    There are signs that at least a few people in the media are starting to wake up. Several are now seeing that this is one of the most corrupt administrations in the history of the country. Several anti-Obama books from liberal media people are due to be released near the end of this year. The media is getting tired of being forced to file law suits to get access to information from "the most transparent administration in the history of the country."
    I think all of these things threw away are distractions because of the political incompetency ruining this country, and I am afraid that their solution will a coming WW3.
    Those who can make you believe absurdities can make you commit atrocities.

    Voltaire


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