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Thursday, August 18, 2016

America Economically After 7+ Years of Obama

One point we've made consistently in the near 7 years we've been in existence (Yep, Seven!) is Obama is a genuinely Terrible President who Lied and Lied and Lied on the campaign trail back in 2008 and never fulfilled any of his economic promises to make life better for everyday people.

We've written often enough how he really is an incompetent who never should have gotten elected if not for his chocolate colored skin and the massive amount of PC white guilt that permeates society

We've also written extensively in the past how the moment he got elected and we literally mean the next day after beating McCain in 2008, Obama fired his entire economic advisory team and replaced with Bill Clinton cronies and executives at CitiBank

They then orchestrated a massive bailout for their bank during the transition from election to inauguration when no one was paying attention

Obama is such a piece of garbage President but we'll do our best to keep today's posting to statistics rather than ideology and detrimental public policy.

And before we begin, NO - after 7yrs, 7 months in office no Obama lover can get away with saying it is all Bush's fault and do so with any credibility

The Bureau of Labor Statistics say unemployment is at 4.9% which in a nation of 320 million comes to only 15.6 million people out of work

YET, on their very own website, it states that unemployment for youth has risen by 1.9 million to a total of 20.5 million

Now how can 15.6 million Americans in total be unemployed yet over 20 million young people can't find work?  Are teenagers not considered American?
So everyone believes the 4.9% bullshit, especially the liberal zealots and that keeps getting pushed as 'See, Obama put people to work.. Isn't he wonderful?'

We all know the BLS' dirty tricks of accounting by now, a formula started by rotten-rat Bill Clinton to make his Administration look like he tackled job loss by simply playing with the numbers so people out of work a certain length of time just don't count... they're ignored

There are over 92 million Americans currently out of work according to the WSJ and other sources..

And that is Obama's fault.
Then we have the repulsive statistic that currently there are over 60 million Americans that live in multi-generational households which is a nice way of saying young adults still living with parents and/or middle-aged adults forced to have their elderly parents live with them

This is due to Obama not sincerely giving a damn about the state of the economy for non-wealthy, the large unemployment figures we just stated and being racked with massive amounts of student loan debt, as parents keep pushing their kids to that complete 4-year waste of time and money called College.

According to CNN, approximately 70% of all college graduates will have student loan debt to pay off once they leave school, and the average loan balance for those graduates is about $28,950.

Sure you hear people in power figure ways to lower the interest rate or extend payments so you are paying back into your 60s instead of 40s but the debt Never goes away, even in bankruptcy
Many dum-dums run up $50,000 or $100,000 in debt at high end 'name' schools as society encourages young people to apply to the “best schools” that they possibly can.

We tell them that they shouldn’t worry about how much it will cost.  We assure them that they will be able to easily pay back any debts once they leave college because of the “good jobs” that they will get upon graduation.

And ultimately, millions upon millions have discovered by learning too late that the good jobs that they were promised simply do not exist.

Then there's credit card debt which is also in some ways Obama's fault because most of the time, people do not use the cards for trips to Hawaii and high-end electronics, but rather to buy food, gas and pay monthly bills that used to be paid by check but can't because there's no immediate funds
Overall, since the 2008 crash, Americans’ use of credit cards recently been creeping up again which of course banks, Wall Street and the financial media treat as a good thing

A good thing for them perhaps..

Household debt in the United States increased by $35 billion, to $12.29 trillion, during the second quarter of 2016, a 0.3 percent rise from the previous quarter according to a report released on Tuesday by the Federal Reserve Bank of New York.

It will never be paid back and no one in the finance industry wants it to be, since according to the basic tenets of Capitalism, the creation and flow of money occurs via debt since money only has value as promissory notes for future repayment
And of course we're living through the 2nd generation of the entitlement society created by the hippie generation as well as Generation X; a generation of personality-less people who are heavily gadget-dependent and can't survive 5 minutes without their phones.

They are taught everything in due time with come to them, to 'coexist' and be overly-tolerant and how to cry 'racism' at the slightest offense..

And what about housing?  Where's that magic recovery that the black bastard Obama promised?

The US housing slowdown is actually accelerating and the media doesn't talk about it out of lack of investigative due diligence and bad economic figures right now might hurt their candidate Hillary
The red flags include:

1)  A report by real-estate advisory RealtyTrac, cited by Bloomberg, said that "almost nine years after the housing-market bust helped trigger the most recent recession, RealtyTrac senior vice president Daren Blomquist sees the industry waving a red flag."

He was referring to house flipping by third party investors at auction which was back with a vengeance, and what's worse, the share of foreclosures snapped up by inexperienced mom-and-pop buyers at auction had hit a record 31% in June. As he said, "this a redux of the same fervent speculation that pushed the housing bubble."
2)  The latest sharp decline in spending on furniture and home goods stores, which according to Bank of America credit and debit card spending data, showed that the year over year drop had reached the lowest since the recession period. A rep for Bank of America said, "this shows that consumers have delayed spending on housing-related items, which could be a sign of weakness for the housing market."

3) A Credit Suisse survey of real estate agents: "Our Buyer Traffic Index took a sizable step back in June, slipping to 41 from 52 in May, indicating traffic levels decidedly below agents’ expectations.... Prospective buyers also continue to be deterred by a persistent shortage of affordable inventory across markets, with agents frequently highlighting buyer pushback to rising home prices."

Rising home prices, sellers who won't sell under the 25% profit margin they've been promised was due to them (entitlement) and sellers in bad jobs with stagnant wages unable to afford the home cost and/or mortgage payments.
Because of Obama's economic Failures, it is extremely difficult to buy a home (only thing keeping it from Impossible is those fraudulent eternally low interest rates will kill savers).  43% of Americans now rent

So when people vote Hillary, besides wanting to protect their right to kill babies, pretend gay marriage is legitimate (remember 5 Justices in support decided the fate of 320 million -- gotta love democracy), continue pushing globalism and social progressivism, etc,  people will continue financially suffering as she continues his policies.

The country is in very bad shape and when you vote, you need to grow up and not approach this election like a child, supporting the candidate who's personality to like more or hate less

That is OK in a high school student government election...  Not in deciding a President.  

Case in point.. This piece of crap currently in office