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The 1950'a is generally considered a time of great hope and prosperity for the U.S. in spite of high taxes necessary to pay off the deficit of the Great Depression and WW2. There was no global competition. Most everything consumed in the U.S. was manufactured in the U.S. Unions were powerful and bargained for middle class wages for their members. The GI bill sent veterans to college on Uncle Sam's dime.
And in spite of it all, 25% of U.S. people lived in extreme poverty. For some, the Great Depression never ended.
The Markit PMI manufacturing index meanwhile showed improvement:
US PMI BEATS EXPECTATIONS, RISES TO 52.3...
...Markit's Purchasing Managers Index is a measure of American manufacturing activity. Any reading above 50 on the index indicates expansionary conditions, whereas any number below 50 indicates contraction.
So, today's 52.3 reading on the index suggests a slight acceleration in the expansion of American manufacturing in May...
We are in a pseudo-recovery... the numbers look good but hide the facts that things aren't that great... stock market is up! Yeah... but the reason its up is pretty bad... unemployment is down! Yeah... but the reason it is down isn't because people are becoming employed... Gas prices are down! Yeah.... but gas prices are down because PRIVATE drillers are drilling for more oil even when the federal government is opposed to it... so things "look" good but it only hides how bad it is... but lets not get carried away... its not "terrible" or "catastrophic" but it definitely isn't good either... you keep adding a "good" statistic... but makeup is still makeup...
We are in a pseudo-recovery... the numbers look good but hide the facts that things aren't that great... stock market is up! Yeah... but the reason its up is pretty bad...
The idea that the market is solely driven by QE is a bunch of nonsense.
unemployment is down! Yeah... but the reason it is down isn't because people are becoming employed...
Average monthly job creation under Obama is BETTER than the average monthly job creation under Bush.
Gas prices are down! Yeah.... but gas prices are down because PRIVATE drillers are drilling for more oil even when the federal government is opposed to it...
Plenthy of drilling on Federal land. Number of Federal-land drilling permits last year was more than TWICE what it was back in Reagan's last year in office - and was greater than 19 of the last 25 years.
so things "look" good but it only hides how bad it is... but lets not get carried away... its not "terrible" or "catastrophic" but it definitely isn't good either... you keep adding a "good" statistic... but makeup is still makeup...
We are in a pseudo-recovery... the numbers look good but hide the facts that things aren't that great... stock market is up! Yeah... but the reason its up is pretty bad... unemployment is down! Yeah... but the reason it is down isn't because people are becoming employed... Gas prices are down! Yeah.... but gas prices are down because PRIVATE drillers are drilling for more oil even when the federal government is opposed to it... so things "look" good but it only hides how bad it is... but lets not get carried away... its not "terrible" or "catastrophic" but it definitely isn't good either... you keep adding a "good" statistic... but makeup is still makeup...
We are indeed experience growth, but slow growth. This is exactly what was predicted back in 2009, by Keynesian economists after the stimulus was announced. Back then, said economists expressed that the stimulus would indeed create growth but it was too small considering the depth of the lesser depression in relation to potential GDP. They were exactly right.
Gasoline prices are down for a number of reasons, over-drilling is not one of them. Gasoline production is actually down - This Week In Petroleum Gasoline Section
Perhaps the reason is government policy that mandates higher mileage.
Average monthly job creation under Obama is BETTER than the average monthly job creation under Bush.
The unemployment rate hovered around 4.5%-5.5% for all of Bush's presidency, not including his last year. Naturally Obama's job creation will be better, since we were near full employment during Bush's presidency.
Average monthly job creation under Obama is BETTER than the average monthly job creation under Bush.
Ken
That is a very disingenuous statement to make, considering we were at a statistical full employment for the majority of the Bush years. You know better then to make a fallacious comment like that.
The unemployment rate hovered around 4.5%-5.5% for all of Bush's presidency, not including his last year. Naturally Obama's job creation will be better, since we were near full employment during Bush's presidency.
You beat me to it!
Obama should be creating jobs hand over fist, since the pool of the unemployed is so large. We should be seeing 400,000+ each month, and that is barely enough to keep up with the population growth and normal changes in employment and economic activities, within a country of over 300 million people.
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Quote:
Originally Posted by Vejadu
The unemployment rate hovered around 4.5%-5.5% for all of Bush's presidency, not including his last year. Naturally Obama's job creation will be better, since we were near full employment during Bush's presidency.
Unemployment actually got all the way up to 6.3 during 2003. it was at 4.2 when he took office.
but no, it wouldnt "naturally" be better just because we were at full employment.
Status:
"everybody getting reported now.."
(set 24 days ago)
Location: Pine Grove,AL
29,557 posts, read 16,548,014 times
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Quote:
Originally Posted by OICU812
You beat me to it!
Obama should be creating jobs hand over fist, since the pool of the unemployed is so large. We should be seeing 400,000+ each month, and that is barely enough to keep up with the population growth and normal changes in employment and economic activities, within a country of over 300 million people.
He can if you stop voting for obstructionist republicans or passed a freaking jobs bill.
people forget, its congress that passes legislature, not presidents. All he can do is give them ideas and tell them to put it into legislative language.
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