The Great Obama Depression Grows Worse

Actually over half the country disagrees with you. Keep it up partisan hack.

 

Really? care to show me that poll?

I am guessing you have not seen his numbers on dealing with the economy?

we aren't talking about his "likability" we are talking about what he is doing with the nation.

Turn on something other than MSLSD (msnbc), you might learn something

 

Before Obama took office, the economy was tanking at a -7% real rate, losing 700,000+ jobs a month, unemployment was skyrocketing, and the stock markets were crashing.

Now the economy has been growing steadily for a year and a half, the private sector has created jobs every month for well over a year, stock markets are up about 90%, and the unemployment rate has fallen from above 10% to just at 9%.

We were very much in trouble from the years the Republicans ran the government.

 

have you not seen the latest economic news? UE is up, home prices falling even further than thought.

consumer confidence fell "unexpectedly" last month.

have you seen how much has been added to the national debt since Obama took office?

inflation is setting in

Gas is going up again. Oil at $103/barrel today.

wake up

 

And that is worse than the economy tanking at -7%, losing 700,000+ jobs a month, and stock markets tanking?

Wake up.

 

yes, because people are starting to say we are going into another recession. it starts with what I talked about. jobs are a lagging indicator. everyone knows this. just like in 2008 and 2009

 

People have been starting to say that for 2 years now.

 

Getting a little tired of hearing the same arguments presented in this forum over and over and over and over everytime I check the boards. And you all fall like ducks in a row taking turns honking in unison. It seems that nothing is ever settled here- a lame-duck OP followed by pages of one liners with nary an original thought in sight- and no solution to be seen.

 

And you contributed 3 whole sentences.

Very impressive.

 

Not really. things are starting to get serious.

If gas stays where it is, the end of this year the economy is going to tank again even further.

 

Really. Folks have been talking in these forums about a "double dip" recession since summer of '09.

Maybe this time they really mean it.

 

so who is wrong...you or them?

I am talking about experts and economists are starting to believe its going to happen very in very short order.

 

Yeah- AND I MADE A POINT.

 

Well you got that 100% wrong. Unemployment averaged < 5% under Bush and under Obama it's averages twice that and more if you count the unemployed correctly, which they aren't now.

But then Bush wasn't trying to expand the Food Stamps programs like Obama is.

 

Cause your beloved Bush didn't give a (*)(*)(*)(*) about people with little money struggling.

 

And the lesson is: Don't be poor.

 

Nah, the lesson was don't vote for a Presidential nominee with an (R) in front of their name.

 

Not unless you want the government to give you everything without you earning it.

 

Obama's policies are hurting the poor more than anybody. Who suffers most from inflation? Who suffers most from high gas prices? The poor are the first to suffer when anything goes wrong with the economy.

 

The housing market won't ever recover, nor should it. I wouldn't be surprised to see housing values fall to 1990s or even 1980s levels.

Examples of Houses for sale in the 1990's with prices

The mid-2000s flooded the market with overpriced homes either from "urban renewal" or price flipping as it was called -- buying modest homes, splashing on a new coat of paint, then turning around and selling it for double profits--, that leeched money from the home buyer straight into investors pockets.

The young middle class, pushing out from their parents into life for the first time were priced out of the market, but they didn't know it yet. Then was the double-whammy: predatory lending -- hiding the true cost of these rich homes under a falsely low "bait and switch" payment schedule that would later hike up the rates when the home buyer least expected it.

Now we have too many houses abandoned to the wholesale price (which are used to judge the values of neighboring houses) and a group of defaulted former home-owners who will need 3 years to get a minimum, useful credit score to get a loan and 7 years before they can recover their full credit score.

 

Like these "experts"?

August 18, 2009 There are growing fears that talk of a recovery is a Wall Street illusion and that the economy could dip into recession again if the job market doesn't improve soon.

http://money.cnn.com/2009/08/18/markets/thebuzz/index.htm


August 2, 2009 Double Dip Recession by 2009? Don't Be Surprised

http://seekingalpha.com/article/153118-double-dip-recession-by-2009-don-t-be-surprised


August 11, 2009 We are likely to have a double-dip recession, and this is why.

http://www.washingtontimes.com/news/2009/aug/11/double-dip-recession/

 

Enrichez vous, huh Guizot?

 

This thread gave me a good laugh, 2 sides fighting over which of their favorite government stooges are making things worse. Fact is only thing that can make things better is the private sector growing, providing more jobs and opportunities for people. When the government tries to do this it has to take from someone else to provide those opportunities and jobs. It hurts one group to help another. Fact is Bush grew government and made things worse, Obama is just adding onto the pile. I feel sorry for anyone who is willing to give up more and more power over themselves and their work hoping that another person will make things better for them. I mean would you give a bum on the sidewalk 20% of your earning and expect him to improve your life? of course not! Now when a politician lies to your face and all of a sudden there is this belief that they can make things all right and you gladly fork over your hard earned money. Sheeple.

 

Yet tax collections are relatively at the lowest level in 6 decades.

According to your theory, the economy should be absolutely booming.

Yet it did much better in the 1990s with a higher 40% top tax rate, and much better in the 1950s and 1960s with top tax rates up to 91%.

So much for that theory.

 

Then you ought to be curious enough to understand that Obama surrounded himself with a bunch of socialist advisors who have attempted to turn the US into a socialist country by printing and borrowing more and more money. No one with an IQ higher than a slice of Wonder bread still believes that somehow Obama's attempts to "turn the economy around" is accomplishing anything. This time next year the GDP will be stagnant at about 1% and the UR will be about 11%. Blame it all on Bush if it temporarily makes you feel better but sooner or later even the most diehard Obama sycophant will have to admit Obama's policies failed.