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Just 38% of the public say they're satisfied with the direction of the country, down from 51.5% in June 2009. Just 19% think the economy will improve over the next six months, compared with 34% five years ago.
Even more startling, five years after the recession ended, 45% think the economy is still contracting; more than half (52%) say it isn't improving.
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Job growth is about half the average pace of the previous 10 recoveries — which translates into 7 million fewer jobs than an average recovery would have produced.
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Real median household income is down almost 4% from where it was when the recovery started in June 2009, according to Sentier Research, which tracks such data monthly. During the recession itself, household income dropped only 2.6%, Sentier data show.
You just posted about 6 opinion poll comments that are contradictory to facts. That shows that the American Public needs to get more educated more than anything else.
let me put this in perspective.
(2+2 = 4) is equal to The overall economy has improved since 2009
( people in a poll saying the economy has gotten worse) is equal to someone saying 2+2 = 3
Also real median income is determined the same way LFP and unemployment are.
If you have no job your income is not counted as 0, its simply not counted at all.
When those people return to the work force at an entry level job, they bring the average down.
Your article creates misdirection on purpose, arguing that an opinion is fact, and chastising the way LFP is counted while using the same trick to try and make the president look bad.
I don't see what you are whining about, The unleased Capitalist system is doing EXACTLY WHAT IT IS DESIGNED TO DO AND IS SUPPOSED TO DO. iT IS GENERATING WEALTH AND MAKING SURE AS MUCH OF IT AS POSSIBLE IS ENDING UP IN THE HANDS OF THE VERY SMALL NUMBER OF PEOPLE WHO OWN THE CAPITAL! If goods and services can be generated with fewer workers it is wasteful to keep employed extra workers. Since there is a surplus of workers there is absolutly no need to pay them any more than the market demands. If a job can be done well and efficiently overseas it is wrong to not do it overseas. Likewise. if workers from abroad can travel to the USA to do what work needs to be done for far less than an American it would also be wrong to not do this either.
Now you may be shocked that the same things are also happening and being done in Europe. The difference in Europe is there is at least a little resistence from the average Joe to the punishment he is taking when he finds himself with the short end of the stick. Americans like dumb animals are angry and fearful but haven't the common sense not to buy into the crap they been indoctrinated all their lives and keep voting in the handmaidens (Especially GOP voters) of the 1% who are owners of 80% of this nations wealth/Capital. People who have seen their wealth these last 6 years increase by 30%! For them the system is not only working its working like a fine oiled machine.
Americans will not experience any real improvment in their lives until they learn the capitalist economic system doesn't care one iota about them or their lives and learns that there are other ways to run a social-political-economic system . Until we do they just better get used to working longer and harder for less in somecases a lot less for the very few who will sit back and take it all or nearly all!
wait OP, are you suggesting that the recovery it turning 5, or is it recovery NUMBER 5?
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Originally Posted by mwruckman
I don't see what you are whining about, The unleased Capitalist system is doing EXACTLY WHAT IT IS DESIGNED TO DO AND IS SUPPOSED TO DO. iT IS GENERATING WEALTH AND MAKING SURE AS MUCH OF IT AS POSSIBLE IS ENDING UP IN THE HANDS OF THE VERY SMALL NUMBER OF PEOPLE WHO OWN THE CAPITAL! If goods and services can be generated with fewer workers it is wasteful to keep employed extra workers. Since there is a surplus of workers there is absolutly no need to pay them any more than the market demands. If a job can be done well and efficiently overseas it is wrong to not do it overseas. Likewise. if workers from abroad can travel to the USA to do what work needs to be done for far less than an American it would also be wrong to not do this either.
first off you are wrong, the capitalist system is NOT been unleashed, in fact obama and company have it in chains. if the capitalist system were truly unleashed, the middle class would be expanding right now, not shrinking. the reason the top is getting all the money, or so it seems, is because the fed is dumping money into the markets propping them up. when the fed stops dumping money in the market, the markets will start falling, and fast.
I'm doing much better than when Bush was in office. I finally managed to regain enough money in my 401k, IRA, and savings to retire. If I had it to do over I'd vote Obama again.
The index of U.S. leading indicators rose in June for the fifth straight month, showing the economy continues to gain momentum following a slowdown at the start of 2014.
The Conference Board’s gauge, a measure of the outlook for the next three to six months, increased 0.3 percent after a revised 0.7 percent gain in May, the New York-based group said today. The median forecast of 49 economists surveyed by Bloomberg called for a 0.5 percent advance.
Job gains and improving consumer confidence are helping to bolster demand and drive economic growth. A pickup in the housing industry, which has recently stalled, would help to spur stronger improvement.
“The economy continues to keep going better, and companies continue to do better,”Joh Silvia, chief economist at Wells Fargo Securities in Charlotte, North Carolina, said before the report. “It’s going to be increasingly positive.” Estimates in the Bloomberg survey ranged from gains of 0.2 percent to 0.7 percent. The May reading was initially reported as a 0.5 percent increase.
Six of the 10 indicators in the Conference Board’s leading gauge contributed to last month’s gain, led by interest-rate spreads, stock prices and new orders, today’s report showed.
The index of coincident indicators, a gauge of current economic activity, gained 0.2 percent in June after a 0.3 percent increase the prior month.
Jobs, Incomes
The coincident index tracks payrolls, incomes, sales and production, measures used by the National Bureau of Economic Research to determine the beginning and end of U.S. recessions. “The pace of economic activity continued to expand moderately,” Ken Goldstein, economist at the Conference Board, said in a statement. “Stronger consumer demand driven by sustained job gains and improving confidence remains the main source of improvement for the U.S. economy.”
A measure of lagging indicators increased 0.5 percent after a 0.3 percent advance in May.
Job growth shows the labor market is healing. Employers added 288,000 jobs in June and have averaged almost 231,000 jobs per month so far this year, putting the economy on pace for the best performance in 15 years.
Manufacturing is also looking stronger. The Federal Reserve Bank of Philadelphia reported this week that its factory index jumped to 23.9 in July, the highest level since March 2011. Readings greater than zero signal growth in the area of eastern Pennsylvania, southern New Jersey and Delaware.
Sluggish Housing
The housing market is one area that continues to hold back the economy. New home starts fell 9.3 percent to an 893,000 annualized rate in June from a 985,000 pace in May that was weaker than initially estimated, figures from the Commerce Department showed this week. A plunge in the South swamped gains in the rest of the U.S.
Fed Chair Janet Yellen said this week during her semi-annual testimony before Congress that housing “readings this year have, overall, continued to be disappointing.”
Even so, acceleration in other parts of the economy has helped the Fed to stay the course as it slows its bond-buying program. The central bank’s policy making Federal Open Market Committee announced a fifth straight $10 billion reduction in monthly asset purchases, to $35 billion, in June.
The FOMC’s next meeting is scheduled for July 29-30.
I don't see what you are whining about, The unleased Capitalist system is doing EXACTLY WHAT IT IS DESIGNED TO DO AND IS SUPPOSED TO DO. iT IS GENERATING WEALTH AND MAKING SURE AS MUCH OF IT AS POSSIBLE IS ENDING UP IN THE HANDS OF THE VERY SMALL NUMBER OF PEOPLE WHO OWN THE CAPITAL!
You are correct, this is how capitalism is supposed to work, it sends the wealth to those who have the capital. The system can work fairly well for the workers when there are enough labor shortage, or if labor can successfully organizes, otherwise it disproportionately favors those with the capital.
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Originally Posted by mwruckman
...they (we Americans) just better get used to working longer and harder for less in somecases a lot less for the very few who will sit back and take it all or nearly all!
There is no doubt that this is the future for the vast majority of Americans.
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