Politics is sickening. What a waste of time.
Country is back on track lets fucking shit on obama over and over.
Makes sense.


Politics is sickening. What a waste of time.
Country is back on track lets fucking shit on obama over and over.
Makes sense.


That's all good and well. But what solution is the US government proposing with regards to their colossal debt?
Surely printing billions of dollars that they do not have will lead to inflation and a devaluation of the US dollar.
Seems to me that the main reasons why they have been able to get away with it for as long as they have is that there are countries willing to buy up this debt ala China/Japan and it helps that the US dollar has been the world's defacto reserve currency.
Lately however a number of states have begun moving away from trading in US dollars and trading directly with their national currencies. America can still fix this but it seems that at this stage they are still content with simply raising the debt ceiling.
Here is an example of what I was talking about-
http://www.theaustralian.com.au/business/economics/chinese-currency-agreement-set-to-deliver-a-welcome-boost-for-non-mining-exporters/story-e6frg926-1226615254310
| theprof00 said: Politics is sickening. What a waste of time. Country is back on track lets fucking shit on obama over and over. Makes sense. |
It's really only on track if your SUPER rich or own stocks.
The stock market is up, great for people who own money or stocks. (Think people in unions, with retirement plans, smarter frugal people)
~120% or so of income growth has gone to the top 1% (in otherwords, the bottom 99% have lost income, more specifically the less rich and middle class. Hence why the gini coefficent isn't hugely effected. Also worth noting, it's not even the 1% so much as specific people in that one percent that are in specific fields. Like stocks.)
and non payroll benefits actually saw a reduction last economic report, in the first time in a long time... as people get ready for Obamacare, because Obamacare penalties are based on employee numbers at the end of... I want to say this year. (Maybe 2014?)
Which is sadly ironic.
Though again.. that's thanks to Bernake, not Obama. Monetary policy can't really help the poor and lower middle class... since they rarely have access to financial institutions... and things that only increase the stock market increase the value of already owned assets... and who wants to sell those assets when they're the only things doing well?
The stimulus hasn't really done anything... for different reasons ranging from "Stimulus don't work" to the Keynsian interpretation of "Stimulus' don't work when you have a high trade deficit".

the_dengle said:
Unemployment is down and the housing market is recovering. We're getting there. Can't expect the thunder to come before the lightning. |
employed percentage is lowest since the 70s (when many women didn't work) , house ownership percentage is lowest since 1996. As far as housing is concerned, the federal government is underwriting all of the loans made, the fed is buying the mortgages through QE and buying long term bonds to push down the interest rates to all time lows. Interest on mortgages is made tax free by the governement. The housing market is being coddled by the government from start until finish and families are still not buying them. The only people buying houses now is investors who can't find yield anywhere else because of low interest rates all around the world and stock markets starting to be overvalued.
currently playing: Skyward Sword, Mario Sunshine, Xenoblade Chronicles X
I find it ridiculous that people are blaming or praising the president so much when the economy declines or improves. The economy goes in cycles. It goes up for a few years and then it declines for a few years, but the general trend is upwards. Right now, the economy is getting better, but the growth is still pretty slow. I think this has to do with Europe's situation right now. There are a few things that are worrying about this growth. One is that wages are not going up, except for executives (this was also occurring during the bush years). The second is that our debt is still too high. This has to do with republicans not wanting to raise taxes, while democrats do not want to reduce spending. As for the employed percentage, we have to take into account that we are starting to get the baby boomers retiring. I am not saying there are a lot of people who have given up, but we have to take this into account.
| RustyShakleford said: I find it ridiculous that people are blaming or praising the president so much when the economy declines or improves. The economy goes in cycles. It goes up for a few years and then it declines for a few years, but the general trend is upwards. Right now, the economy is getting better, but the growth is still pretty slow. I think this has to do with Europe's situation right now. There are a few things that are worrying about this growth. One is that wages are not going up, except for executives (this was also occurring during the bush years). The second is that our debt is still too high. This has to do with republicans not wanting to raise taxes, while democrats do not want to reduce spending. As for the employed percentage, we have to take into account that we are starting to get the baby boomers retiring. I am not saying there are a lot of people who have given up, but we have to take this into account. |
That isn't nearly enough to make up for it as you point out, but the employment percentage is still a drag on the economy regardless of the reason for it. This is really only the very beginning of the baby boom retiring, it's barely just started. There is still less people working in the US then there was at the depths of the recession which wasn't very long ago. Each month more people leave the workforce than join it, yet that's a recovery?
Consider that the supposed great jobs report for April we had that sparked a big increase in the stock market showed that average hours worked decreased, pay decreased, and even though the government numbers for unemployed went down the underemployed percentage actually went up. Did i mention that the percentage with jobs dropped to an all time low again?
currently playing: Skyward Sword, Mario Sunshine, Xenoblade Chronicles X
I agree with you that we could be doing a lot better. However, at least in my area I am definitely seeing recovery starting to occur. They are actually starting to build housing developments for the first time in 4 years. The unemployment rate went from about 15% to about 9%. Wages are still not rising, but I think this is part of the bigger issue with globalization. The us and other western countries are going to have a harder time growing because labor is just cheaper in developing countries. People like talking about china's growth, but Latin America is experiencing nearly the same growth. In order for American workers to compete, they are going to have to get higher education in a degree that is actually going to be needed in the future. A lot of the manufacturing jobs we lost are not coming back and those that do are usually going to states where labor cost is cheaper. People who used to have these jobs in manufacturing are going to have to get retrained in something that is needed, or they get stuck doing a job that pays significantly less. This is probably a main reason wages are going down.
One issue that is more unique to the us is the high price of health care. If you take into account healthcare costs you could say that wages actually increased for jobs that had health insurance during the last decade. It' simple, if your employees healthcare costs increase 3% each year, can you afford giving your employees good raise? You are also less likely to hire more people. While obamacare fixes some issues with our healthcare system, it does very little when it comes to costs. Until we fix this issue we are not going to get waiges increasing significantly for the middle class.
It's nice to see the country starting to recover. It was pretty bad, and I really wasn't sure we cool.
Still, 'Reagannomics' are still hurting working people, which is anyone who works for a living, vs those that live off investments, but at least its starting to recover.
A ways to go, but we didn't get into these problems over a weekend. Should be doing even better once we finishes these wars tsoon.
Kasz216 said:
The stock market is up, great for people who own money or stocks. (Think people in unions, with retirement plans, smarter frugal people) ~120% or so of income growth has gone to the top 1% (in otherwords, the bottom 99% have lost income, more specifically the less rich and middle class. Hence why the gini coefficent isn't hugely effected. Also worth noting, it's not even the 1% so much as specific people in that one percent that are in specific fields. Like stocks.) and non payroll benefits actually saw a reduction last economic report, in the first time in a long time... as people get ready for Obamacare, because Obamacare penalties are based on employee numbers at the end of... I want to say this year. (Maybe 2014?)
Which is sadly ironic. Though again.. that's thanks to Bernake, not Obama. Monetary policy can't really help the poor and lower middle class... since they rarely have access to financial institutions... and things that only increase the stock market increase the value of already owned assets... and who wants to sell those assets when they're the only things doing well? The stimulus hasn't really done anything... for different reasons ranging from "Stimulus don't work" to the Keynsian interpretation of "Stimulus' don't work when you have a high trade deficit". |
I'd actually credit the growth to republicans who refuse to approve laws that support the middle and lower class, and earmark bills to support that top one percent.
The stimulus did work, though...unless you can somehow prove that we would be in the same position now than without. Do you also include the bailouts in this administration non-necessity?


Can we really blame a president for either making the economy bad or good? I don't think so. There are people who actually deal with the economy (with more intensity) than any president ever will.
Also, the economy is a never ending cycle. It always builds until it bursts in some way shape or form.