The Great Obama Depression Grows Worse

Discussion in 'Current Events' started by sammy, May 31, 2011.

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  1. sammy

    sammy Well-Known Member

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    Jobs are disappearing, confidence in the economy is low, real wages are dropping and home prices are falling, three years into the Great Obama Depression. These are facts!

    The democrats tell us it's all Bush's fault, or they brag that things are getting better. But Bush has nothing to do with it and things are getting worse, not better. Don't believe anything Nancy Pelosi and her ilk say, they lie!

    It's Obama's job killing policies that are working to eliminate the private sector and small business and to create a welfare dependency in the US.
    A significant percentage of democrats would prefer to see the middle class disappear. Obama is one of them.


    Now Case-Shiller suggest there is a new downturn in the housing market,
    http://news.medill.northwestern.edu/chicago/news.aspx?id=186925


    NJ:
    Foreclosures on the Jersey Shore jumped dramatically in 2006 and 2007, started leveling out in 2008 and 2009, and are only now beginning a very slow decline, according to data provided by RealtyTrac, which monitors foreclosures. The more foreclosures in an area, the more nearby property values suffer, and the easier it gets to enter the market, said Rick Sharga, RealtyTrac’s senior vice president.

    http://njrereport.com/index.php/2011/05/31/case-shiller-march-home-prices/
     
  2. kidrocks

    kidrocks New Member

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    We're going to Disneyland... yay! :-D
     
  3. toddwv

    toddwv Well-Known Member Past Donor

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    Lol... three years into it eh? Funny because President Obama was inaugurated a little over 2 years ago.

    [​IMG]

    Doh!
     
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  4. DonGlock26

    DonGlock26 New Member Past Donor

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    Bush had a recession. Obama is turning it into a depression.


    _
     
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  5. Death Grip

    Death Grip Banned

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    That is correct and in fact like Obama, Bush inherited a recession as well. Obama has turned bad into worse.
     
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  6. dujac

    dujac Well-Known Member

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    the recession ended when real gdp began growing in the third quarter of 2009

    [​IMG]
     
  7. DonGlock26

    DonGlock26 New Member Past Donor

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    There is no doubt about it. The media can say "unexpectedly" 50,000 more times, and it will not change this.

    _
     
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  8. toddwv

    toddwv Well-Known Member Past Donor

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    Did Bush inherit a recession that was losing 750,000 jobs a month?

    [​IMG]
     
  9. John Tyler

    John Tyler Banned

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    What there is no economic problem, just ask all the other countries that Obama is bailing out with all of our surplus money supply. Heck if you have problems with your government America will come and blow up your infrastructure and rebulid your whole country and create a new democracy all with American tax dollars. If you want to flee and come to America not only will you get set up but you can get a free college education espcially if you are from an African or muslim country. We arfe all rich in America and want to go everywhere else on earth to share our wealth.
     
  10. sammy

    sammy Well-Known Member

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    The Housing news today was not good. You can't have a recovery
    with the housing market floundering like this.

    WASHINGTON (AP) -- Even cities that weathered the housing market crash with relatively little damage are suffering now.

    Severe price declines have spread to Dallas, Denver, Minneapolis and Cleveland, which had mostly withstood the bust in housing since 2006. The damage has now gone well beyond cities hit hardest by unemployment and foreclosures, such as Phoenix and Las Vegas.

    "We didn't enjoy the highs and the lows like other cities," said Kay Weeks, a Realtor with Ebby Halliday in Dallas, where prices fell nearly 1 percent in March and are expected to keep falling. "

    http://finance.yahoo.com/news/Citie...tml?x=0&sec=topStories&pos=main&asset=&ccode=
     
  11. sammy

    sammy Well-Known Member

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    Very true! The media can't admit that Obama's policies are harming the economy and it keeps getting worse.

    Just today I saw this headline:

    Consumer confidence falls unexpectedly in May

    http://finance.yahoo.com/news/Consu...8.html?x=0&sec=topStories&pos=3&asset=&ccode=

    The media can just change the word May to June, and have next month's news a month early :)
     
  12. toddwv

    toddwv Well-Known Member Past Donor

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    The Housing issue goes back to 2004 and earlier. Systemic fraud and greed bubbled the housing market, raising housing prices to ridiculous and unsustainable heights. The housing bubble popped in 2006 and all hell broke loose taking with it an economy already weakened by 6 years of Republican "economics".

    [​IMG]
     
  13. Inactive928

    Inactive928 Banned

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    Hmmm. Under Bush, unemployment goes up. Under Obama, unemployment goes down. I guess a depression is a good thing? :confuse:

     
  14. Iriemon

    Iriemon Well-Known Member Past Donor

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    LMAO! Classic.
     
  15. junius. fils

    junius. fils New Member

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    Just who was president for eight years before President Obama inherited a depression which began before he took office?

    Just curious.
     
  16. keymanjim

    keymanjim New Member Past Donor

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    That some major spin you got going there to suggest that high unemployment under obama with a democrat majority in Congress is better than low unemployment under President Bush with a Republican majority in Congress.
    You must be dizzy.
     
  17. Inactive928

    Inactive928 Banned

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    In 2008 -- under Bush -- the Dow plummets from 12,500 at the beginning of the year to 8,100 at the end of the year... a fall of 35%.

    Under Obama, the Dow is currently at 12,570... a 55% gain from where he inherited it from Bush. Depressions are great for the stock market! (who'd a thunk it? :confuse: )


    [​IMG]
     
  18. DonGlock26

    DonGlock26 New Member Past Donor

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    You point to a crash in 2008 from exactly where we are today and act like it can't happen again, when the housing market is doing the exact same thing as in 2008 after using every trick in the book to stop it. Really? This time, there is no bag of tricks left.

    _
     
  19. MaxGeorgeDicksteinXXXI

    MaxGeorgeDicksteinXXXI New Member

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    Nonsense, we've been in a 12 plus year recession, now we're just falling off a cliff.

    Real wages constant over 12 years, inflation up over 12 years, debt and deficit up, real unemployment up over 12 years, real interest rates down over 12 years.

    It's getting gloomier by the day.
     
  20. toddwv

    toddwv Well-Known Member Past Donor

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    Private sector job growth under President Bush & the Republican's rubber stamp Congress was DESTROYED. The economy under Bush was an empty shame perpetuated by two wars with their related spending and a housing bubble that would end up sucking trillions of dollars out of the economy.

    [​IMG]
     
  21. Inactive928

    Inactive928 Banned

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    Quite a change of tune from your prior post, eh?

    You've gone from Obama being much worse to Obama being just as bad, maybe . . . .

    Major fail :no:

    Next time, try a real, reasoned argument instead of partisan sniping. They're much easier to defend ;)
     
  22. Inactive928

    Inactive928 Banned

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    With about one-tenth of an ear directed at the housing market, I'd say it's a fair bet that the housing prices are under downward pressure due to the continuing unwinding (sales) of REO properties. Odds are that the housing market will be soft for the next few years. However, it was oversold and too hot before the bubble popped, so this is unfortunately going to be a shake out period.

    Hopefully people learned a lesson about living on the edge of solvency by financing everything to the hilt, but I doubt it.
     
  23. ronmatt

    ronmatt New Member

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    If you go to a restaurant and ask about the pie and the waitress informs you that the pie isn't very good. That the baker didn't do a good job and that it's been sitting on the counter for a few days...reason dictates that you decline in ordering a piece of that pie.
    Obama could have declined running for POTUS. The pie is his. He chose to order a slice. He may have thought that he could wave some magic wand over it and it would magically become fresh and tasty. Another ere in judgment. People line up to defend Obama. They continually blame the baker for the bad pie. But there was ample warning. The baker is no longer a part of the equation. The pie sitting on the counter is no longer a part either. Obama's faulty wand and misguided arrogance is all that's left. The pie wasn't magically transformed. It's on him.
     
  24. Montoya

    Montoya Banned

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    What a stupid comparison. Really its quite absurd.
     
  25. Consmike

    Consmike New Member Past Donor

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    Its very simple. Obama is ruining the country. he told people he wanted to fundamentally change the country, and he is doing just that. If we get 4 more years of him, we are very much in trouble.
     
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