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Related: About this forumPic Of The Moment: More Terrible Economic News (For Republicans)
U.S. Manufacturing Shows Fastest Growth In 9 Months
U.S. Stocks Rise as Jobs Report Shows Increase in Hiring
Dow Jones Industrial Average hits 14,000
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BlancheSplanchnik
(20,219 posts)freshwest
(53,661 posts)Santa told Ryan his stocking would be filled with coal if he didn't watch out. Stay tuned for more OFA actions staying on the GOP like white on rice...
denverbill
(11,489 posts)freshwest
(53,661 posts)WhiteRocker
(3 posts)freshwest
(53,661 posts)Or maybe I should have added for clarification.
Yes, they do all they can to make Obama, Democrats and government in general look bad in order to push privatization schemes, where they will only give contracts to their friends:
Fascism should more properly be called corporatism because it is the merger of state and corporate power.
~ Benito Mussolini
Motown_Johnny
(22,308 posts)wickerwoman
(5,662 posts)obviously it's working.
NightOwwl
(5,453 posts)when America elects a Kenyan-born Socialist Muslim President!!1!!!1!!!!!111!
The Berthe's ,how could we forget.
siligut
(12,272 posts)"Things aren't good, so we don't know why they are", this is schizophrenic cognitive dissonance.
oldandhappy
(6,719 posts)enjoyed this
Downtown Hound
(12,618 posts)one-termer. They knew that if he won a second term, the economy would truly begin to mend during his second administration, and they would be left with having to explain to America why the last two Democratic presidents were so successful economically and the only guy they managed to sneak their way into office left America in financial ruin. If they had managed to get Romney in, and the economy began to mend on its own, they could take credit for it, even though not a single Republican voted for the economic stimulus and were responsible for the death of the American Jobs Act.
Basically, 40 years of Republican propaganda about how they are economic geniuses shot to hell in in a mere four extra years. Whereas Democrats are going to be heading into 2016 very strongly, especially with the changing demographic factors.
underpants
(182,802 posts)Part of Romney's stump speech was that he would "create 12 million new jobs" --well in little reported news most economists think that the next 4-6 years will see about that gain anyway just as a matter of normal correction from a drastic economic downturn.
40 years of the Republican pillars - economics and defense - dissolved around them in the Bush years. I think it was Bill Maher (if that is important to you) who once said "We hire Republicans to be dicks. Bust the criminals and watch our money." something like that.
Lord Magus
(1,999 posts)If it had all kicked in immediately after passage, the Tea Party debacle of 2010 might've been averted.
pbrower2a
(132 posts)before the Republicans had a chance to do so!
Yes, the old conservative virtues. Thrift, enterprise, patience, fair play in the workforce (well, the Right resists that). Under Dubya the Right linked itself to low pay, despotic management, fear, and reckless speculation. Bad as low pay, despotic management, and fear, bad as they were, together did less harm than the reckless speculation.
If you think Dubya was bad, wait until you look at the model of Bain Capital -- grab assets and leave a shell. All too often his vulture capitalism left a wreck because it grabbed assets necessary for the survival of the company.
In view of what the Republican-dominated State legislature is doing in Michigan (trying to make the state a land of sweatshops in which management is brutal and pay is a farce), just think of what America would be like after four years of Romney even without a return to the Depression trajectory that America was on between late 2007 and early 2009. As economic inequality in America begins to resemble that of Apartheid-era South Africa, the economy would surely collapse due to the ruin of the middle class.
Oh, well, we are spared that. My investments are doing well again.
rhett o rick
(55,981 posts)Plucketeer
(12,882 posts)I wanna CRY!
Cheerleaders for Obama??
"...despite $13 trillion in free, no interest money given to banks, investors, and speculators by the US federal reserve for five years now, the banks still continue to dribble out lending to small-medium US businesses. No loans mean no investment mean no hiring mean no income growth for consumption, which is 70% of the economy. Similarly, large non-bank corporations continue to sit on more than $2 trillion in cash. Like the banks, they too refuse largely to invest in the US to create jobs, preferring to hold the cash, or use it to buyback stock and pay shareholders more dividends, to invest it offshore, or to invest it in speculating with financial instruments like derivatives, foreign exchange, commodities futures, and the like.
At the same time, the bottom 80% of households, more than 110 million, are confronted with 5 years now of continuing real disposable income stagnation or decline. This income stagnation and decline translates into insufficient income to stimulate consumption spending, which makes up 71% of the US economy. What spending exists is fundamentally credit driven, not income driven. Thus car loans, student loans, credit cards, and installment loans rise and with it household debt.
The problem with the US economy therefore is fundamentally twofold: not only insufficient income but growing household debt. Together they result in consumption becoming increasingly fragile (an income to debt ratio term), and therefore unable to play its historic role of generating a sustained economic recovery. Together, fiscal-monetary policies are rendered increasingly inelastic in generating recovery as multipliers collapseto use economic jargon. The outcome of all this is stop go recoveries, bumping along the bottom, or what this writer has called an epic recession."
Oh dang, reality...http://www.zcommunications.org/us-gdp-on-the-road-to-double-dip-by-jack-rasmus
ffr
(22,669 posts)Can't be a trend. Just can't. And what am I going to do with my stockpiles of ammo a MREs?
rosesaylavee
(12,126 posts)Yesterday we posted the most productive day in the history of our firm. Think it started in 2000. If construction is coming back, the economy is too.
Fedaykin
(118 posts)Last edited Sat Feb 2, 2013, 04:13 AM - Edit history (1)
...for now. Just remember to get ready for the next bubble that's about to burst as the Fed continues to buy Mortgage Backed Securities to keep the too big to fail banks afloat.
First time home buyers, the backbone of stability in the real estate markets, are down 175,000.
Despite the increasingly positive signs of market strength, there are reasons to be skeptical, after all, this is the second time that prices and sales rallied since the bottom fell out in 2006. The first rebound took place in 2009, when President Barack Obama initiated his First time Homebuyer program which provided lavish incentives for potential buyers to sign on the bottom line. The program sparked a frenzy of activity that reversed the direction of the market, but quickly petered out in a matter of months. Could todays sudden surge in prices be another false start or is it the real deal? Only time will tell. But its worth noting that the market has never really cleared and that normal supply-demand dynamics have never been allowed to work as one would expect in a free market. In fact, housing is arguably the most maligned and manipulated market of all time. Mortgage rates are artificially low due to Fed intervention (QE3). Inventory is artificially low due to the banks withholding of distressed backlog. Down payments are so minuscule (FHA=3.5%) that homebuyers end up leveraged at a 30 to 1 ratio, the same as the big Wall Street investment banks prior to the Crash of 08. And, finally, government-backed mortgage modifications (HAMP) provide generous refinancing to high-risk underwater applicants with LTV at 125%, a process that makes subprime mortgages look like a model of prudent lending. So much is fake about todays housing market, that its a stretch to call it a market at all.
The derivatives market bubble was a carefully constructed house of cards, deliberately created with the help of multiple agencies and institutions. The private Federal Reserve had to artificially lower interest rates and inject trillions upon trillions into the housing market, the international banks had to invest those trillions into mortgages that they KNEW were toxic and likely never to be repaid. The Federal Government had to allow those mortgages to then be chopped up into derivatives and resold on the open market. The ratings agencies had to examine those derivatives and obviously defunct mortgages and then stamp them AAA. The SEC had to ignore the massive fraud being done in broad daylight while sweeping thousands of formal complaints and whistle blowers under the rug.
This was not some random event caused by uncontrolled complexity. This was engineered complexity with a devious purpose. The creation of the derivatives collapse was done with foreknowledge, at least by some. Goldman Sachs was caught red handed betting against their OWN derivatives instruments! Meaning they knew exactly what was about to happen in the market they helped build! This is called Conspiracy
Bail outs to banks dont necessarily result in lending to businesses and consumers. Why? Because the bail out money is either hoarded (i.e. remains bottled up in the banks in the form of record excess reserves amounting to $ trillions) or is loaned by the banks mostly to professional speculators and investors who realize highly profitable, quick returns in speculative markets (stocks, junk bonds, derivatives, commodities futures, ETFs, etc). The Feds QE money injections thus do not produce sustained economic recovery for the general economy. In the last 6 months a tsunami of money coming into the market from deep-pocket speculators. Thats your recovery in a nutshell.
Fool me once, shame on you, fool me twice, shame on me!
Here's an article that is worth noting...
""Housing starts at 894,000 is near where they were at the depths of the 1981 and 1991 recessions and 60 percent below the peak in January 2006," pointed out Peter Boockvar at Miller Tabak...."
http://www.cnbc.com/id/49901568/Yes_Housing_Starts_Surge_but_Rentals_Are_the_Drivers