Posted on 04/28/2016 1:24:21 PM PDT by Nachum
Despite his proclamation that he "saved the world from a Great Depression," the fact is that Obama will be the first President ever to not see a single year of 3% GDP growth - but only cynical fiction-peddlers would mention facts at a time like this. In yet more legacy-defending narrative, Obama told The NYTimes today that his biggest failure was being unable to sell his success in putting the American economy back on track to the American people (no matter the actual realities) careful to blame Republicans for slowing growth "by a percentage point or two." And then in a final affront to fact, Obama dismisses the conclusion of "The Big Short" proclaiming that he reined in Wall Street, overhauled the banking system, and made water from wine "the financial system substantially more stable."
With regard his presidential legacy, Obama recently said he was proud of the healthcare reforms, and added that:
"saving the world from a Great Depression – that was quite good."
Defending the sheer arrogance (and ignorance) of such a statement, he added, "I'm proud; I think I've been true to myself during this process." Truth must have a different meaning where he comes from, but of course, anyone doubting the truthiness of such a statement was hacked down to size with the now ubiquitous "Don't give up and succumb to cynics."
And now, as The Independent notes,
The interview, with the paper’s Sunday Magazine, was part an exercise in patting himself on his own back for lifting the US out of the economic morass he inherited from President George W. Bush and part remorse.
“I actually compare our economic performance to how, historically, countries that have wrenching financial crises perform,” he said of the early days of his presidency. “By that measure,
(Excerpt) Read more at zerohedge.com ...
The stock market would be at about 200 if not for the $40 billion per month being pumped into it.
any stockbroker will acknowledge... the dow is where it is because mostly ... the major banks are putting lots and lots of the newly-printed dineros into the stock markets....
BECAUSE... they can’t prudently lend it to unemployed people or companies that are losing money
it is thusly....(perversely if you wish) because of the sicko economy, the Great Obama Depression of the real economy...that the stock market’s been (artificially, if you wish) bid up
Ignorant Man-Child Obama thinks money comes from printing presses. Yes, he's *that* stupid.
0bama’s delusion level is close to Hitler’s in early 1945.
Assuming (praying) that the next Admin will not be the Hildabeast, imagine how quickly the MSM will SCREAM if a single mention is made to blame the previous office-holder? How many years did Obama beat the ‘W’ drum (4-6 I think)? Yet, rest assured that the MSM bodyguard will do its best to QUASH any criticism of this noble FAILURE!
“The Big Short” is a great movie for explaining how key figures learned how the housing investments were a scam, the factors that led to its collapse and how they made their money betting against it.
“Obama admits he could not convince Americans of his economic lies.”
There, that is far more accurate.
It didn't take a bunch of Brilliant money people to see a way to make a ton of money.
The Las Vegas scene showed how dumb people really are
Obama will be the first President ever to not see a single year of 3% GDP growth
WRONG,WRONG,WRONG.. If you SUBTRACT DEFICIT SPENDING from the equation,you will NOT find a Positive GDP going back 30 years Plus.
“it is thusly....(perversely if you wish) because of the sicko economy, the Great Obama Depression of the real economy...that the stock market’s been (artificially, if you wish) bid up”
Yes, and when something’s price is artificially inflated well beyond any justifiable value, we call that something... what was it now? Oh yes, a BUBBLE!
sure.
quite natural in economics to have bubbles
famously there was the great tulip bulb bubble
and nowadays, we have bubbles sometimes over things far less tangible or useful as tulip bubbles, ha!
$10 trillion in new debt is equal to the 8 years of the $1.2 trillion in the stimulus package. That additional level of spending NEVER went away (once a dollar goes into the federal budget it never gets cut).
And like the original stimulus has never funded any investment in our infrastructure.
Bump. Feel sorry for the inheritor of this mess.
The real number was at least two times as much. If I recall, it was in the neighborhood of $85 Billion per month that was “pumped into” the economy. That is printed money, fiat currency and a huge mistake.
I’m still holding on to my tulip stock. Those bulbs are coming back one of these days, and then I’ll have the last laugh!!!
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Yes! Those tulip bulbs gonna come back fer sure! (Edith Nesbit;). SLEEP first,
And let the storm and winter do their worst;
Let all the garden lie
Bare to the angry sky,
The shed leaves shiver and die
Above your bed;
Let the white coverlet
Of sunlit snow be set
Over your sleeping head,
While in the earth you sleep
Where dreams are dear and deep,
And heed nor wind nor snow,
Nor how the dark moons go.
In this sad upper world where Winter’s hand
Has bound with chains of ice the weary land.
Then wake
To see the whole world lovely for Spring’s sake;
The garden fresh and fair
With green things everywhere,
And winter’s want and care
Banished and fled;
Primrose and violet
In every border set,
With rain and sunshine fed.
Then bless the fairy song
That cradled you so long,
And bless the fairy kiss
That wakened you to this—
A world where Winter’s dead and Spring doth reign
And lovers whisper in the budding lane.
After 8 long years he is still an arrogant racist street activist with a small mind from the school of al sharpton and jesse jackson
I heard earlier this morning on the radio that " home ownership " is the third lowest than its ever been.
To counteract this issue, the FED is going to back mortgages for the previously ineligible low income .
It will require low income borrowers to repay the mortgage at 10 % of their income (!)(?)
Sounds more like a return to another housing bubble to me , and another deja vue moment to Quantitative Easing as part of income redistribution .
Maybe it is part of the Socialist's last act of sabotage ? , .. or part of the "October Surprise" ?
Sorry , I can't quote the source, since I don't recall, and only half attentive until I heard the statistic of " 10 % "
When I bought my house , lenders didn't want you to spend more than 25 % on housing (back in the latter '80's )
I’ll assume you are correct. So, where does Barry rank when using your scale? I mean, if all the presidents of the past thirty years were under 3.0, does that make Obama’s a negative? I just want to know apples to apples.
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