Author Topic: Obama's Socialist Policies are Ruining American Economy  (Read 25867 times)

spuwho

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Re: Obama's Socialist Policies are Ruining American Economy
« Reply #60 on: July 09, 2016, 10:34:19 PM »
How does the BLS really count the unemployed?

http://www.bls.gov/cps/cps_htgm.htm


finehoe

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Re: Obama's Socialist Policies are Ruining American Economy
« Reply #61 on: November 18, 2016, 11:27:05 AM »
Unemployment claims fall to lowest levels since 1973

The fewest Americans since 1973 filed for unemployment benefits last week, a sign that the U.S. labor market is getting tighter.

Jobless claims dropped by 19,000 to 235,000 in the week ended Nov. 12, which included the Veterans Day holiday, a Labor Department report showed Thursday in Washington. The median estimate in a Bloomberg survey called for an increase to 257,000. Continuing claims fell below 2 million to a 16-year low.

The biggest drop in initial claims since June suggests employers are loath to fire workers as the economy continues its modest expansion and the number of experienced applicants available for hiring remains limited. Filings for unemployment benefits have stayed below 300,000 for 89 straight weeks -- the longest streak since 1970 and a level typical for a healthy labor market.



http://www.bloomberg.com/news/articles/2016-11-17/jobless-claims-in-u-s-decline-to-lowest-level-in-four-decades

MusicMan

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Re: Obama's Socialist Policies are Ruining American Economy
« Reply #62 on: November 18, 2016, 04:26:46 PM »
That chart is way to "fact based."   8)

The unemployment rate is one barometer of the health of the economy, sort of like the Dow Jones Industrial Average and the NASDAQ.

They give you a broad but fairly accurate reflection of what is going on in terms of people hiring and if folks have faith in the quality of a business. Also a reflection of a companies earnings.  Under Obama's Presidency both have improved relative to what he inherited from 'W'.  A lot.  Don't think anyone can dispute that. (With a straight face, although Jeb Bush tried.)

Or ditch the chart, and try the old fashioned way to see how things are going:  walk out your door and observe.  San Marco Square, Five Points, The Elbow, a St Johns Town Center, the housing market, the new car sales market, restaurants are full, people are spending money, going to movies, buying cars, homes..... builders are building......every contractor I see has a Help Wanted or Now Hiring sign displayed at their business. Not sure where Spuwho lives, maybe Palatka.
« Last Edit: November 18, 2016, 04:44:24 PM by MusicMan »

finehoe

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Re: Obama's Socialist Policies are Ruining American Economy
« Reply #63 on: December 02, 2016, 09:34:00 AM »
The unemployment rate declined to 4.6 percent in November, and total nonfarm payroll
employment increased by 178,000, the U.S. Bureau of Labor Statistics reported today.
Employment gains occurred in professional and business services and in health care.

http://www.bls.gov/news.release/empsit.nr0.htm

finehoe

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Re: Obama's Socialist Policies are Ruining American Economy
« Reply #64 on: January 10, 2017, 09:53:22 AM »
Obama’s policies helped lift the economy out of a frightening slump and set it on a path to steady, if unspectacular, growth. In fact, I’d call this his biggest achievement. The scale of the financial panic of 2008 and the extent of the job losses that occurred in the first months of 2009 should never be forgotten. By “a number of macroeconomic measures—including household wealth, employment and trade flows—the first year of the Great Recession in the United States saw declines that were as large or larger than at the outset of the Great Depression in 1929-30,” Jason Furman, the chairman of the White House Council of Economic Advisers, recounted in an exit memo that he posted online this week.

The Federal Reserve, the Federal Deposit Insurance Corporation, and Hank Paulson, President Bush’s Treasury Secretary, all played key roles in quelling the panic. But the Obama Administration finished the job, continuing the crisis measures that had been introduced, pushing through the rescue of the auto industry that Paulson had set in motion, and carrying out a set of stress tests that restored confidence in the big banks. The new Administration also boosted the over-all level of demand in the economy with an eight-hundred-and-forty-billion-dollar stimulus package, which featured temporary tax cuts and more federal spending. By the second half of 2009, the gross domestic product was growing again. By October, 2009, the unemployment rate had peaked, at ten per cent. If other policy decisions had been made, things could have been very different, and much worse.

At seven and a half years long, the Obama recovery now is one of the longest on record. In terms of annual G.D.P. growth, the rate of expansion has been relatively modest: since 2010, G.D.P. has risen by about 2.1 per cent a year. During the Bill Clinton recovery (1992-2000), G.D.P. growth averaged 3.8 per cent a year, and during the George W. Bush recovery (2002-2007), it averaged 2.7 per cent.

Citing figures like these, Obama’s critics claim that this has been the weakest recovery since the Second World War. But that ignores at least a couple of important measures. As the economists Carmen Reinhart and Kenneth Rogoff have pointed out, “Postwar business cycles are not the right comparator for the severe crises that have swept advanced economies in recent years.” The Great Recession of 2008 and 2009 wasn’t a normal recession. It was an old-fashioned financial bust, and it always takes economies a long time to recover fully from those—if they ever do. Japan took two decades to rebound from a financial bust in the early nineteen-nineties. Much of Europe still hasn’t recovered from the Great Recession.

In addition, if you look at employment rather than at G.D.P., the Obama recovery looks much stronger. Since the start of 2010, the U.S. economy has created about 2.4 million jobs per year. During the Bush recovery of 2002-2007, annual job growth was just 1.2 million. In terms of jobs, the Obama recovery compares with the Clinton recovery, of the nineteen-nineties, when approximately 2.8 million jobs were created each year.

The difference between Obama’s record and Bush’s is even starker if you focus on entire Presidential terms, including periods of recession as well as periods of recovery. Between January, 2001, and December, 2008, 2.1 million jobs were created. Between January, 2009, and December, 2016, 11.3 million jobs were created. The economy created nearly five and a half times more jobs under Obama than it did under Bush.

http://www.newyorker.com/news/john-cassidy/obamas-economic-record-an-assessment
« Last Edit: January 10, 2017, 12:36:53 PM by finehoe »

coredumped

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Re: Obama's Socialist Policies are Ruining American Economy
« Reply #65 on: January 11, 2017, 07:54:37 PM »
Since the start of 2010, the U.S. economy has created about 2.4 million jobs per year...

You are correct finehoe, we finally agree! The US economy, not obama created those jobs!
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Adam White

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Re: Obama's Socialist Policies are Ruining American Economy
« Reply #66 on: January 12, 2017, 05:58:29 AM »
Since the start of 2010, the U.S. economy has created about 2.4 million jobs per year...

You are correct finehoe, we finally agree! The US economy, not obama created those jobs!

Setting aside the reification there, it's worth pointing out that the economy doesn't operate in a bubble - it responds to many factors, including government policy. If it didn't, then no one would care what the government did.

Surely the President isn't the sole reason, but he should be able to share in the credit, as his administration has been in power for 8 years.

« Last Edit: January 12, 2017, 06:03:21 AM by Adam White »
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vicupstate

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Re: Obama's Socialist Policies are Ruining American Economy
« Reply #67 on: January 12, 2017, 08:27:26 AM »
Since the start of 2010, the U.S. economy has created about 2.4 million jobs per year...

You are correct finehoe, we finally agree! The US economy, not obama created those jobs!

So... Trump won't be creating any jobs either I take it.
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MusicMan

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Re: Obama's Socialist Policies are Ruining American Economy
« Reply #68 on: January 12, 2017, 08:37:50 AM »
The Captain of the ship gets the credit, even if the crew docks the boat. Just ask "W."

Obama leaving office with highest approval ratings in 30 years. Only Reagan higher since 1970.

finehoe

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Re: Obama's Socialist Policies are Ruining American Economy
« Reply #69 on: January 12, 2017, 09:32:27 AM »
Whether or not President Obama is personally responsible is irrelevant.  The point is, his critics claimed that by enacting his policies, we were in store for a declining, moribund economy.  Obviously, that didn't happen.  And before some dimbulb pipes up with "yeah, but such and such isn't as desirable as it should be" no one is saying every single thing is perfect.  Again, that isn't the point, which is look how wrong the critics were.

I'll also note that many of the same people who were predicting economic armageddon under Obama are now predicting an unprecedented boom under President Trump.  Be forewarned....

MusicMan

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Re: Obama's Socialist Policies are Ruining American Economy
« Reply #70 on: January 12, 2017, 09:01:57 PM »
That "boom" is the sound of our great Nation imploding.

coredumped

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Re: Obama's Socialist Policies are Ruining American Economy
« Reply #71 on: January 13, 2017, 10:16:41 AM »
So... Trump won't be creating any jobs either I take it.
Correct.

Obama leaving office with highest approval ratings in 30 years. Only Reagan higher since 1970.

Are the people doing these polls the same people who guaranteed a hillary win? Just curious. :D
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aldermanparklover

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Re: Obama's Socialist Policies are Ruining American Economy
« Reply #72 on: January 26, 2017, 12:21:00 PM »
Trump is in office 3.5days; employers are coming back to America thanks to Trump's leadership, the Dow has set a new record and 8 years after obummer, you guys are still clueless about what it takes to make a dollar - not earn a dollar by clocking in, but actually make a dollar out of thin air.

This is why college professors and community organizers should NEVER be at the wheel of the (now) second largest economy in the world, thank you very much obummer.


here's just the latest example of how people in power with no understanding of business and making money are screwing things up ...
http://www.washingtontimes.com/news/2016/oct/10/minimum-wage-hikes-putting-restaurants-out-of-busi/

finehoe

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Re: Obama's Socialist Policies are Ruining American Economy
« Reply #73 on: January 26, 2017, 12:23:41 PM »
Once again you're full of shit.

Quote
The forecasts of these critics -- that jobs would be lost and businesses would close -- have, so far, been proven wrong. Although this is interesting, what’s most important is why they were wrong. In many cases, they suffer from the sort of systemic bias that is typically observed in the self-destructive tendencies of too many investors. To many of these minimum-wage foes, government can do no right, and any effort to ameliorate some of the defects or inefficiencies in the free market will always and everywhere prove counterproductive.

https://www.bloomberg.com/view/articles/2016-12-07/seattle-s-higher-minimum-wage-hasn-t-hurt-jobs-or-business

Jim

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Re: Obama's Socialist Policies are Ruining American Economy
« Reply #74 on: January 26, 2017, 01:17:33 PM »
not earn a dollar by clocking in, but actually make a dollar out of thin air.
That's not how money works outside of fraction reserve banking.