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Old 10-07-2012, 08:17 AM
 
12,905 posts, read 15,614,527 times
Reputation: 9393

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Quote:
Originally Posted by OhioIstheBest View Post
The unemployment rate has now been lowered to the level it was when President Obama took office. lols. Great job Dems.

We still need to add millions and millions of jobs to be at full employment.

The "recovery" does not exist.

People that act like 8% unemployment is great news are delusional. It hovered around 5% when Clinton and Bush were Presidents. Of course, Obama's economic "ideas" are a 180 from those guys.

Any movement downward in the numbers is good news. Anyone who thinks we are totally recovered is probably a child who still believes in Santa Claus.

We crashed from oen of the biggest housing and debt bubbles in history. It was a huge, deep recession. To think that any administration could have turned things around back to what we had (which felt good but was a bad thing--sort of like eating candy) in a few short years, was seriously delusional.

I am happy to see the unemployment numbers inching down. I am happy to see some job creation. Would I like to see bigger gains? Of course, but I don't think that's realistic. Could another administration done a better job? Maybe. It would have take an administration TO INCLUDE CONGRESS that had the American people as its top priority that would have put in place policies that were beneficial to the country and not "the party." But that didn't happen, so we don't really know what another president could have done. I think we've had THE SUCKIEST group of people in Congress and they have impeded our progress. So much so that I think it's amazing that we've had any progress. But we have.
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Old 10-07-2012, 09:10 AM
 
8,483 posts, read 6,917,744 times
Reputation: 1119
Quote:
Originally Posted by skoro View Post
Yes.

We'd all be SO much better off today if Clinton would have vetoed the Republican Gramm-Leach-Bliley Act back in 1999, avoiding the deregulation that allowed Wall St to pay themselves outrageous bonuses while concentrating risk and "developing" ever more bogus investments that eventually crashed the economy.


Deregulation, the mantra promoted by the Republicans since the 1980s is behind the 2008 economic meltdown. After numerous bank failures during the Great Depression, the Glass-Steagall Act of 1933 established the Federal Deposit Insurance Corporation (FDIC) and introduced banking reforms like separation of banking and other financial companies. The 1999 Gramm-Leach-Bliley Act repealed part of the Glass-Steagall Act of 1933, allowing a bank to offer investment, commercial banking, and insurance services. The 1999 Gramm-Leach-Bliley Act allowed firms like Citigroup and Bank of America to offer investment and insurance services apart from banking after their acquisition and merger with other financial firms which would have been illegal before.


The 2008 Great Recession and Deregulation
In addition, the commodity modernization act, china favored nation status, NAFTA, etc... all helped set the stage for the govt to outsource the jobs and blow up another big bubble. Wall street is not separate from the govt.

Also had Goldman Sachs Commodity Index setup around 94.
https://en.wikipedia.org/wiki/Goldman_Sachs

Last edited by CDusr; 10-07-2012 at 09:26 AM..
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Old 10-07-2012, 09:13 AM
 
1,460 posts, read 2,803,338 times
Reputation: 1105
Quote:
Originally Posted by C. Maurio View Post
This is a very interesting and very true article. The unemployment numbers may LOOK better but a closer look reveals that this economy still really sucks.
The jobs numbers: never mind the quantity, check the quality | Moira Herbst | Comment is free | guardian.co.uk

If you haven't adjusted and recovered some by now yourself, it's because you're weak.

Don't expect the government to "bail you out"

Do your own recovery bro. It's not that hard.
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Old 10-07-2012, 09:23 AM
 
Location: Great State of Texas
86,052 posts, read 84,321,515 times
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We are recovering. You can't deny that. We're just not recovering to previous standards.
Adjust and adapt. If you can't afford all the bling on your new salary then something has to go.
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Old 10-07-2012, 09:34 AM
 
1,520 posts, read 1,869,899 times
Reputation: 545
Quote:
Originally Posted by mlassoff View Post
Because you want it to be, to validate the narrative of your preferred political party?
The narrative of my party would probably be the economy is in recovery since I am voting to re elect President Obama. I am not trying to make a political issue out of it because, frankly, it was caused by the Republicans and it would be worse, not better under Romney and Co. But facts are facts. The economy in this country absolutely sucks. Just because it created part time minimum wage jobs doesn't mean it is "recovering". It isn't.
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Old 10-07-2012, 09:36 AM
 
5,787 posts, read 4,706,478 times
Reputation: 853
Quote:
Originally Posted by C. Maurio View Post
I am not trying to make a political issue out of it because, frankly, it was caused by the Republicans and it would be worse, not better under Romney and Co.

You seriously need to learn some actual FACTS about these things if you really believe that hogwash.

Here's a good start:

Obama's Re-Election Case Rests On 5 Phony Claims
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Old 10-07-2012, 09:40 AM
 
1,520 posts, read 1,869,899 times
Reputation: 545
Quote:
Originally Posted by HappyTexan View Post
We are recovering. You can't deny that. We're just not recovering to previous standards.
Adjust and adapt. If you can't afford all the bling on your new salary then something has to go.
Most people who work do not have any bling. They have given up everything but basic shelter, lights, gas, water and maybe one car instead of 2 cars. I am doing better than many of my neighbors because I have a government job with good benefits and a pension. I count my blessings. I still have cable TV and 3 cell phones on a family plan. Many of my neighbors are sprouting antennas on their houses- something that was "the past" a few years ago- because they have to cut cable out of the budget. What else do you expect them to give up so the rich can be even richer?
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Old 10-07-2012, 09:44 AM
 
Location: Great State of Texas
86,052 posts, read 84,321,515 times
Reputation: 27718
Quote:
Originally Posted by C. Maurio View Post
Most people who work do not have any bling. They have given up everything but basic shelter, lights, gas, water and maybe one car instead of 2 cars. I am doing better than many of my neighbors because I have a government job with good benefits and a pension. I count my blessings. I still have cable TV and 3 cell phones on a family plan. Many of my neighbors are sprouting antennas on their houses- something that was "the past" a few years ago- because they have to cut cable out of the budget. What else do you expect them to give up so the rich can be even richer?
Well I wasn't inferring your neighborhood. Apple iPhone5 sold millions upon millions in the US alone.
Retailers are forecasting record volumes this holiday shopping period.

On one hand, people have money to spend. On the other hand we have record food stamp usage.
I see 10 year olds with iPhones in school and I'm in a "poor" rural area.
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Old 10-07-2012, 10:11 AM
 
8,483 posts, read 6,917,744 times
Reputation: 1119
Quote:
Originally Posted by HappyTexan View Post
Well I wasn't inferring your neighborhood. Apple iPhone5 sold millions upon millions in the US alone.
Retailers are forecasting record volumes this holiday shopping period.

On one hand, people have money to spend. On the other hand we have record food stamp usage.
I see 10 year olds with iPhones in school and I'm in a "poor" rural area.
An Iphone isn't bling nor is it the economy. I suppose it depends on what you mean by "we" and "recovery".

Even dead cats bounce or a ball if you object to the previous analogy. (lol)
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