What happened to all of the doom and gloom economic threads?

[4est_4est_Gump]

He is so insinuated from reality and the economy by the press that he actually probably believes everything he reads and watches, like Maher...

 

[4est_4est_Gump]

Five million Americans have been thrown under the bus. They are walking around dazed, outcast, and defeated. Worst of all, they are not even counted in official tallies of the unemployed. They are those whom the Obama administration simply wishes to ignore: working-age adults who have dropped out of the labor market completely. They are those for whom the economic recovery underway should have created jobs but has not.

Despite Obama's latest assertion of having created 4 million jobs in the last 26 months, the reality is that in the past two years, 5.4 million workers have left the job market entirely. These are the 5.4 million whom academics like to call "discouraged workers," and as far as the administration and its media cheerleaders are concerned, they do not exist.

The fact is that these millions of Americans are not so much discouraged as they are hopeless. They are working-age adults who, in a normal economic recovery, would have found jobs in an expanding economy. But this recovery -- one can hardly call it that -- is not at all normal. The U.S. economy has expanded on average at something like 2% since Obama took office, and now, with the latest GDP growth figures for the first quarter of 2012 revised downward to 1.8%, the economy seems to be slipping back toward stagnation, if not recession.

During a normal period of recovery, the economy grows at a rate of more than 4%. This was the case during the Reagan recovery of the 1980s, the Clinton recovery of the 1990s (with a major assist on spending restraint from Newt Gingrich), and the Bush recovery of the mid-2000s. But ever since Obama took office, the economy has suffered. Under constant attack by a hostile administration, businesses have decided not to expand, or they have moved or expanded their operations overseas. The result is that 4.7 million fewer jobs have been created in the past three and a half years than would otherwise have been the case -- almost enough to provide a job for every one of those who have dropped out of the labor market.

Those 5.4 million include older workers who have lost their jobs and decided to apply for disability benefits or exhaust their 401(k) savings while waiting to file for Social Security at age 62. Many of those who retire early are now consigned to live out their lives in poverty. For this cohort, early retirement means that they will not enjoy the golden years they had planned, and many will outlive their savings entirely. And for this, they have President Obama to blame.

Read more: http://www.americanthinker.com/2012/05/the_lost_5_million.html#ixzz1vh9fmmxK



The good news is that the benefits these people will have to receive from the government will have a magic multiplying effect that will generate so much revenue that no one will ever, really, need to work again.

 

[4est_4est_Gump]

Obama had every opportunity to create jobs. His ban on mountaintop mining in the Appalachians, a region of perennial high unemployment, has cost many thousands of good jobs. The Environmental Protection Agency's veto of Arch Coal's Spruce Mine permit, which the American Coal Council calls "drastic and unprecedented," is just one in a series of job-killing actions taken by the Obama EPA. Obama's closure of the Gulf of Mexico to offshore drilling and continued slow permitting has cost "tens of thousands of jobs," according to one informed source. His refusal to approve the Keystone XL pipeline project is costing an estimated 149,000 jobs, according to TransCanada.

Furthermore, the uncertainties caused by provisions in ObamaCare and Dodd-Frank have discouraged investment, particularly among small businesses that create the lion's share of new jobs in America. Obama's refusal to allow untaxed repatriation of overseas earnings by American corporations has blocked investment of $1 trillion in the U.S. economy. A tax holiday for overseas earnings could add 2.9 million jobs, according to the U.S. Chamber of Commerce, yet Obama has ruled out repatriation on ideological grounds. It is, after all, a business-friendly measure.

Obama's threats to raise taxes on the rich have also cut jobs by precipitating capital flight on an unprecedented scale. Affluent Americans are renouncing their citizenship and fleeing in record numbers to Singapore, the Bahamas, and other tax-friendly locales. Each one of those wealthy citizens has taken thousands of jobs with him, and for this the president is to blame.

If the president had "focused like a laser beam" on job creation, as he promised to do in 2009, he would not have found it that difficult to create jobs. But instead of following up on his promise, Obama treated job-creation as a mere photo op. Having promised to focus on job-creation, he promptly forgot about it and flew off on vacation.

Had the president remained on vacation, things might have gone well. Instead, he chose to squander nearly a trillion dollars in his 2009 stimulus bill, a fraudulent measure that has stimulated nothing except debt levels. He then followed up with a proposal for another $447 billion giveaway, which Congress had the good sense to defeat.

Obama also had the opportunity to lower corporate taxes across the board, a measure that would have spurred job-creation, but taxes for American corporations remain the highest of any major developed economy. Meanwhile, he has blown $100 billion in an attempt to prop up green energy companies that were supposed to create 5 million jobs. In one case after another, however, those green companies have gone bust, and those 5 million jobs have not been created. Instead, 5.4 million have been lost.

There can be no doubt as to who is responsible for those lost jobs, and for the lost dreams of each of those 5.4 million Americans. For the suffering of those who have dropped out of the labor market entirely, as well as for the 21 million (14% of the labor force) who are officially counted as unemployed or underemployed, there is only one person to blame. Come November, those 26.2 million Americans who are unemployed, underemployed, or no longer looking for work need to remember who was in charge the last four years and vote accordingly. These people should have plenty of time to get to the polls and vote. After all, they're not doing much of anything else.

Jeffrey Folks


Read more: http://www.americanthinker.com/2012/05/the_lost_5_million.html#ixzz1vhCEtkPP

 

[unregistered]

 

[4est_4est_Gump]

His supporters are insulated as well.

Isn't amazing how much they can know without reading anything from the opposition?




No need to read any Austrian, everyone "knows" it's wrong.

No need to read Keynes, everyone "knows" it's right.

No need to even read Obama since everyone knows it's "WRIGHT!"

 

[unregistered]

 

[4est_4est_Gump]

Obama will lead them through life by their iron collars.

Here, sit in this cave, observe the shadows on the wall while I go over by the fire to the Venture Capital Party...


I'm so Bain, I'll bet you think this song is about me...

 

[koalabear]

Updated: 05/23/2012 12:46 ET
DOW 12,337.06 -165.75

Stocks tumble on global economic fears
The CBO warns of a US recession in the face of a 'fiscal cliff.' Eurozone members are asked to prepare for a Greek exit.

 

[unregistered]

 

[koalabear]

Fb $31.84

great buy!

 

[koalabear]

Ford gets its iconic logo out of hock

http://money.msn.com/investing/article.aspx?post=419b0090-f63b-467c-b232-a1269619a3d2

 

[unregistered]

 

[koalabear]

In the industry they are again, good as gold.

Good thing oblamer bailed them out.

 

[mercury14]

That's because you can't read, and when you do you don't understand:

"U.S. taxpayers have recovered nearly half of their $50 billion investment in GM when the U.S. Treasury took a majority stake in the company back in 2009. The government still owns 500 million shares. And if it wants to sell and just break even, GM's stock will have to double in value from where it is today."

Well, technically, if you read it, it does not say the money is owed...

Just admit you're wrong vette and give the peanut gallery a woody.

Even AJ is saying you're wrong. But you still wont admit you're wrong, will you? You heard somewhere on that GM owes the taxpayers money and you're stickin' to that story. You'll believe anything if it makes the president look bad, even if you have to fabricate.

Really though, the problem is that you don't know how stock works. When a person buys a share of GM, they buy it from the market, not directly from GM. And therefore when they sell it, they sell it on the market and not back to GM. You appear to think that GM would have to cough up the money when the Treasury sells back its GM stock.

 

[unregistered]

 

[mercury14]

Reality bites...


Read more: http://www.foxnews.com/politics/201...era-tax-cuts-allowed-to-expire/#ixzz1vgw1p4WB


Of course, with all this uncertainty in the air and Obama Hold(er)ing up in the elections, we might get a recession anyhoo...



I doubt we'll hit the magic 5% unemployment mark guaranteed by the Obomulus...

Not if they just expire for the rich.

 

[unregistered]

 

[mercury14]

Yeah I heard it from the IBD, who heard it from the Inspector General. A better source than any of yours.

You didn't hear it from Investor's Business Daily. You heard it from an OPINION PIECE they hosted, written by an anonymous author. You keep citing IBD articles as some kind of authority, but they have no more authority than you or I do.

 

[mercury14]

Also your anonymous author is spinning the same line of bull that GM stock is debt. Even AJ rejects your article. Honestly you're better off just parroting right wing crap off Breitbart.

 

[unregistered]

 

[RobDownSouth]

Oh, and GM has not paid back the money it owes the government, like you tried to tell us:

http://www.cbsnews.com/8301-18563_162-57379759/gm-ceo-bankruptcy-for-years-without-bailout/

Vetteman does not understand the difference between an investment in stock and a loan.

This is RobDownSouth's complete lack of surprise.

 

[Beco]

Vetteman does not understand the difference between an investment in stock and a loan.

This is RobDownSouth's complete lack of surprise.

splitting hairs bro.... $6.7 billion was in the form of a loan...and yeah, they used TARP funds to pay a lot of that back, although they have some time to do so....the govt will on lose about $34 billion on this deal....

 

[unregistered]

 

[Ulaven_Demorte]

Sometimes we call it picking fly shit out of pepper.

Merc is trying to discount this fact:

"As it turns out, GM got Treasury's OK to "repay" more than $6.7 billion "using a portion of the escrow account that had been funded with TARP funds." So GM is merely paying the government back with government money, not money GM is earning selling cars, as the administration has claimed."

So GM was bailed out using TARP funds, put some of the cash in an escrow account, didn't need it, and paid it back.

And this is the "fact" you're crowing about?

 

[unregistered]