Before you begin to mention the grandiose gains in the stock market since Obama took office, bear in mind a few things.
1. The Federal Reserve lowered interest rates to zero percent, making bonds and interest bearing accounts untenable for retirees, effectively forcing people into stocks. Also, the Fed’s balance sheet went from ~$750b to $4.5t over that time frame — rigging both equity, currency, and bond markets over Obama’s entire 8 year term.
2. Due to the financial crisis, drastic measures were taken to transfer the risk from the banks onto the national balance sheet. Moreso, in order to prevent the economy from slipping back into recession, the Obama administration underwent a methodical process of deficit spending that kept the economy artificially afloat. The side effect of this reckless spending was an additional $9t in debt added to America’s balance sheet.
Fun fact: Obama accumulated more debt in his 8 years as President than all previous President’s combined.
GDP growth, post WW2
Johnson (1964-68), 5.3 percent
Kennedy (1961-63), 4.3 percent
Clinton (1993-2000), 3.9 percent
Reagan (1981-88), 3.5 percent
Carter (1977-80), 3.3 percent
Eisenhower (1953-60), 3 percent
Nixon (1969-74), 2.8 percent
Ford (1975-76), 2.6 percent
G.H.W. Bush (1989-92), 2.3 percent
G.W. Bush (2001-08), 2.1 percent
Truman (1946-52), 1.7 percent
Obama (2009-16), 1.6 percent
Typically, coming off wretched economic growth, as we endured under Bush, the economy would snap back fiercely and register some impressive numbers. But that never happened under Obama, for a variety of reasons — namely because his administration opted for a Frankenstonian approach to economics that resuscitated and kept it artificially afloat, in order to progress an aggressive socialist agenda wrought with public entitlements and high taxes.
The net result, as the numbers show, was extreme failure — judged solely by ROI. As a nation, we stimulated the economy with more than $13 trillion in debt and Federal Reserve market interference, and yet the Obama years will forever be remembered as the only administration since Hoover to not grow the economy by more than 3% during his entire 8 year term.
Hey, at least we got an awesome healthcare plan out of it, yes?
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Fake news. It’s over trumptards. Check out Bernie Sanders facebook page. He speaks the truth.
No need for bennyshill to post now
Thank you muchly.
Fake news is right, nice cherry picking there Fly.
https://www.bloomberg.com/view/articles/2017-01-19/ranking-the-obama-economy
by entitlements I assume you mean corporate welfare. Totally agree, that and military spending are out of control.
Those GDP numbers appear to be fake news though. If high taxes kill growth, then democrats shouldn’t be outperforming.
God you’re lame.
Joshua’s IQ would have to be 50 points higher to even qualify as a lame retard
Shillax, Eric…. You get to worked up when you’re menstruating.
*too
Burn, but I guess that makes me presidential. Can’t spell, use punctuation, or form a complete sentence.
Youse and wes allowed the manufacturing infrastructure and the associated jobs to move to fucking China. Now we have to try crawl them back. Can be done but the standard of living will be dropping and costs will be up not down in the meantime. Low wages have born a monster which obviously has to be competed with somehow. Not everyone can work for Google etc.
Americans do not work for Silicon Valley. Foreigners do. Why not destroy this country by creating super monopolies that do not even hire us. Tech is the template for it all.
Half of the country still thinks the world is 6000 years old. Are you surprised they hire foreigners?
Ouch. You know they feed you right?
Foreigners? Yeah, I love Mexican food.
We are boombust. We are fake. Since computers’ peak Mid 90s.
That stimulus:output ratio proves the characterization I’ve held. For 7 years.
Doesn’t matter who is, or was, in there. America is fake. Drug induced stability. It will come down.
Fascinating that we couldn’t put up better numbers with rates this low. But that’s big government. We needed the centralization to get out of the crisis, but unfortunately it came with too much pampering regulations. The gov created an environment in which no one wants to take real risk. No risk taking, no growth.
What about the blood from a stone theory. If the game is destroying the middle class to create serfdom again. Where would the “growth” come from? Interesting 100 year anniversary of those old school paid “commies” in Russia. That gets zero coverage in the MSM fake horseshit “News”. Did it happen or not? Full motherfucking circle.
Man but Barry can talk a good game can’t he!
http://www.raptureready.com/2017/03/30/rapture-time/
Both the Republicans and Democrats are big spendthrifts. From a budgetary stand point it really doesn’t matter which party is in charge. Entitlements take up a major portion of the Federal budget which will continue to grow while discretionary spending portion shrinks. If interest rates increase the modest amount of interest paid on the debt will balloon.
Its like when you inherit a car, after 8 years of been abused and on the brink of total breakdown, then complaining the engine doesnt run well.
Fawk off with this shit
But the neocon policies are all the same. Do not think for a second Obama was any different from Bush.
Would that make Trump a paleocon?
“The Federal Reserve lowered interest rates to zero percent, making bonds and interest bearing accounts untenable for retirees, effectively forcing people into stocks”
“Moreso, in order to prevent the economy from slipping back into recession, the Obama administration underwent a methodical process of deficit spending that kept the economy artificially afloat”
You seem to have better ideas. Enlighten us with what you would have done in the Fall of 2008 if you were the President of the US and/or Federal Reserve.
Just want a different perspective of how the problem could have been solved in a different way.
The question is where did all the money go? What did Obama do with all the money? All the debt. How about not print the money. Since it was squandered anyway. Just don’t print the money. That’s what you do.
Ask Fly. He pocketed some of it.
Even better question is where did the “money”, if one wants to call joobux conjured from nothing, come from? It’s ironic that the FED “prints” worthless ‘digits’ ex nihilo and the nation has to turn over real wealth (output) as interest to the zionist usurers.
What % of exodus subscribers have a college degree?
Wow
http://www.latimes.com/projects/la-ed-our-dishonest-president/#nt=oft02a-2la1
bennyhill, guzzler of koolaid. I love how the article says the President is dishonest and then gives zero examples of dishonesty. Great read. Not.
Recoveries and declines have nothing to do with the President during those terms. Yes, the market went up hundreds of percent during Obama, but his it just so happened because of his timing of getting in at and extreme low situation. As far as real GDP recovery lagging, look what is going on in the world, there is low growth everything. This has to do with aging populations in the developed world, and more importantly, the massive deflationary effect the internet has and continues to have on economics. Cannot blame or give credit to any president. One thing is for sure, the fed did save us with the zero rates program for now, lets see what happens long term. Ironbird, do everyone a favor and climb back into your cave and go back to mining coal that no one wants. You are a racist pig and disgrace to all Americans. Stay in your trailer park and stay out of “real” cities.
lol, yes. wow, real econ and real talk. bird has to be fly’s incest-born brother in law, he has made absolutely zero comments on any stock, financial instrument or real economic policy during the entirety of his halitosis-infected presence here.
That begs the question. Can stocks outrun the real economy which they have been? They have a decent Cash flow but are just using it to prop up stock prices. ALl the cheap stocks are capital intensive non internet. We simply cannot have an economy entirely based around the internet and yes – not only is this Dotcom 2.0 but Nasdaq Bubble 2.0. Facebook / Amazon fall which they easily can and it will erase The Nasdaq.