--but America is always reached an all time high. This time it's just not nearly as big a gain and the short fall is painfully clear..
Posted on 08/01/2016 4:04:15 AM PDT by expat_panama
Economists were surprised Friday when the Commerce Department reported that growth in the second quarter of this year was a mere 1.2%. But the real surprise is that anyone is surprised when the economy underperforms, since that's what it has been doing for the past seven years.
There has not been a single year in the past seven when the economy did better than President Obama promised......
...had Obama's recovery — which is now in its 28th quarter — been as robust as the average of the past 10 recoveries, the nation's economy would be $2.2 trillion — with a "t' -- bigger than it is today. That translates into more than $17,000 per household...
...the country wouldn't be straddled with a national debt of more than $19 trillion, and Medicare and Social Security would be on somewhat sounder footings.
Just as important, had Obama's economy been average, the country wouldn't be in such a foul mood, and wouldn't so easily fall sway to the empty promises of a socialist, or the demagoguery and blame games being peddled by the major parties' presidential candidates.
More than three decades ago, Jimmy Carter delivered his infamous "malaise" speech ...
...just like in the late 1970s, today's malaise isn't a permanent condition. And it is most emphatically not the fault of "bad" trade deals, or insufficient government spending on roads and bridges, or income inequality, or any of the other things being targeted by Donald Trump and Hillary Clinton.
This malaise is the entirely the result of the Obama administration's anti-growth tax and regulatory policies, which have smothered what could have been and should have been a robust recovery...
...Every quarter and every year of disappointing growth under Obama is proof that the liberal principles don't.
(Excerpt) Read more at investors.com ...
--but America is always reached an all time high. This time it's just not nearly as big a gain and the short fall is painfully clear..
Government officials who LIE to help tyrants
should be held accountable
with jail for the rest of their lives.
Happy August everyone! Stock indexes are finally getting new highs in rising volume and the NASDAQ is really soaring. Precious metals are jumping too w/ gold silver now up to $1,348.59 $20.51. Futures traders are confident w/ both seeing stock indexes up +0.21% and metals +1.52%.
Reports soon after opening bell: Construction Spending and ISM Index.
A lot going on today:
A Law That Makes Wall Street Panic More Likely - Robert Samuelson, WP
Don't Be Fooled, 'Stable Money' Is Gold-Defined Money - Nathan Lewis
Why Poor Americans Flock to Donald Trump - Kyle Smith, New York Post
Dismissing Trumpsters as White Trash Misses Point - Nancy Isenberg, DB
Hillary Clinton Exceeeded Very Low Expectations - John Tamny, Forbes
Why Is the Stock Market So High? Ask Bond Market - Jeff Sommer, NYT
Welfare Has Spiraled Out of Control - Stephen Moore, Washington Times
Gloomy Days in Oil Patch, But Some See a Glimmer - Krauss & Reed, NYT
Texas Shale Fights Saudi to Standstill - Ambrose Evans-Pritchard, Telegraph
Has there ever been any public accounting for all the stimulus money given to Obama by a fool hardy Congress? I read a year or so ago that a large percentage disappeared. It sounds like Hilary wants to repeat the process.
From the IBD article: “This malaise is the entirely the result of the Obama administration’s anti-growth tax and regulatory policies, which have smothered what could have been and should have been a robust recovery... “
What Obama tax policy? I don’t recall Obama having been able to get so much as a budget approved, much less any tax package. What’s the guy talking about? The last tax package I recall was under GWB.
Indexed for inflation over time, it is actually worse.
More....
7 Facts That Show Obama’s Economic Recovery Has Been AWFUL
http://www.dailywire.com/news/7970/7-facts-show-obamas-economic-recovery-has-been-aaron-bandler
The seven bullets from the article:
1. The Obama recovery has had a record number of quarters where economic growth has been two percent or lower.
2. The average real GDP growth of recoveries rate prior to the Obama recovery was 4.3 percent.
3. The most recent labor participation rate was 62.7 percent, with slightly more than 94.5 million Americans out of the work force.
4. The number of jobs created under the Obama economy has not kept up with the working age population.
5. There has been a decline in business startups and investment.
6. There has also been a decline of real household family income.
7. There has also been a spike of Americans on food stamps.
I think the malaise and "the liberal principles" settled in before Obama. It's been awhile since we've had business cycles like I remember over the decades.
I created a "graph" from the Bureau of Economic Analysis' national income and product accounts (NIPAs) Table 1.5.2. Contributions to Percent Change in Real Gross Domestic Product, Expanded Detail (both annual and quarterly). Though crude it shows that the economy recovered and grew in the past but no longer does that. Yes we all know that; but here is a "picture" literally backed by Table 1.5.2 numbers.
Table 1.5.2 data are there but you have to hover the columns to see the data behind the simple color and symbol codes.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.