Monte wrote:
Khross - I think there are signs that the economy is on the way to recovery, yes. I also think we aren't there yet. Jobs are lagging behind, but jobs *always* lag behind in a recession.
This isn't true at all. The least 3 recessions have been jobless recoveries. Job growth was a still net-negative from the 2000 Recession when this one started. That said, job growth is non-existent right now. It's not lagging: the job market is still shrinking. And the BLS (Bureau of Labor Statistics) is manipulating the unemployment data something fierce in its monthly reports. The labor force is shrinking at its fastest rate ever, such that theoretically we're reaching 1 Income Household status again. The trick to the jobless recovery is that it's not a recovery at all. Household income and purchasing power remain depressed while consumption rises.
The dollar is declining faster than inflation and prices continue to rise on staple consumer commodities. The Price/Earning Ratios on major index funds spiked astronomically with no real market justification and way outside the curve. Incidentally, all three stock markets are lagging behind real inflation. More banks are collapsing (and at a growing rate), but the media isn't reporting those.
The FDIC is Bankrupt and doesn't even have enough to maintain its statutory minimums without borrowing from the Voluntary Reserve Fund (Social Security Trust accounting anyone?).
So, no, he hasn't done ANYTHING to improve the economy except expose Paul Krugman as a fraud and shill.
And that's not even getting into the nightmarish policies concerning debt and an already over-leveraged population. One need look no further than Cash for Clunkers to see that credit-patches as a systemically sick economy don't work: the 30 day period it was viable, including the lagging transactions, simply pushed up sales from later this year and depleted inventories that weren't going to move because people didn't have the money. And it cost the taxpayers millions. Incidentally, sales were down 70% month to month last money, continuing the 12-15% loss per month trend before the Cash for Clunkers program.
Montegue wrote:
In less than a year, Obama has done more to undo the damage that Bush did than I ever could have expected. There's still a great deal to do, but if he maintains his pace, I think we might see a great deal of good come out of his first term, and hopefully a second term.
He hasn't done anything except making pretty speeches and boggle every domestic policy decision he's made. His international policy is a joke; he's about to throw Afghanistan under the bus. His misstatement of military advisements is so bad that General McCrystal has to publish own assessment of the Afghanistan situation.
George W. Bush was a failure as a president. Barack Obama is a bloody nightmare.
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Corolinth wrote:
Facism is not a school of thought, it is a racial slur.