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Lower income Americans gave strong support for Obama.
Yet, these same individuals have found life under Obama to be rather difficult. When Barack Obama assumed the position of President, the average price of gasoline was $1.81/gallon. Going into the past weekend, the average price nationwide was $3.72/gallon. That's a mere 106% price increase under Obama.
How's That Hope and Change Working Out for Obama Supporters? Yet some still defend him no matter what. Amazing.
Yes, and lower income Americans are probably hurt more than any other group by high gas prices. But, they still support Obama and his insane fixation on increasing our energy prices.
All caused by crony capitalism. Interference with the free market in housing followed by bailouts, and quantitative easing.
Really? Soo...automation and productivity increases are all caused by crony capitalism? Mind you I am no fan of crony capitalism, but what I am trying to point out here is that regular capitalism as well drives this. Its very basic economics.
And interference in the free market is what all bad things are derived from, if only we didn't do that everything would be great? Thats wishful thinking. If everyone would do what *I* say for example, none of these problems would exist. See? Thats also foolish, while the specific problems wouldn't exist, other different ones would.
A recent history lesson is needed here... We had a recession in the early 2000s after the combined effects of the dotcom bubble burst and the 9/11 attacks, but recovery was more swift, far less economic damage was done, and the gap didn't widen as much. People love to hate Bush, but he navigated what could have been a disastrous recession and subsequent slump quite well. In contrast, Obama has just been a disaster: prolonged sluggish recovery, if you can even call it that, and wider income gap than in at least 2 decades.
Additionally, even former Dem Congressman Barney Frank has publicly admitted the HUD Affordable Lending Mandates imposed upon Fannie and Freddie substantially caused the 2008 financial crisis:
2000+ on was when manufacturing really took offshore. A very big giant sucking noise. Markets had been setup to shift in the 90's with all the Clinton Admin changes. Also when shadow banking took off. Also by 2010 the stock market had become almost 70% institutional. They just pass the football.
Crony capitalism. Since you don't understand the difference why comment?
Crony capitalsim? It's always been like that....
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Originally Posted by Loveshiscountry
I doubt you know what free markets are. I'm basing that on your silly comment a few posts back calling crony capitalism, capitalism. Although with big government, which you like, the free market is getting smaller.
No, believe in something that has never existed. Crony capitalism or whatever you want to call it has always been the norm.
I don't like big government, that's you putting words in my mouth since you have zero argument.
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Pros and cons for uninformed people. Only an American fool wants a weak
dollar, or a smart person who doesn't use the dollar as a mod of exchange. Like
China and Russia.
Or someone who manufactures something in America...... A weak dollar makes US exporters cheaper for global customers. US manufacturing is up and exports have been growing.....
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Please show proof that government didn't grow. THAT is a conservative principle.
Reagan may have said one thing but it doesn't make it so. Look how much
government grew under Reagan.
It's isn't a conservative principle that government doesn't grow, that's just some vague statement. You're confusing limited government with no growth government.
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I don't think it has peaked domestically.
Plateaued.
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Iran and Iraq are about 8 percent of the worlds production. Granted when something happens there big oil claims the sky is falling and raises prices. Past history but I don't think it happens as much now.
Gas is going down. At least in Texas.
They equal to what the US produces... That's not something to sneeze at.
Really? Soo...automation and productivity increases are all caused by crony capitalism? Mind you I am no fan of crony capitalism, but what I am trying to point out here is that regular capitalism as well drives this. Its very basic economics.
And interference in the free market is what all bad things are derived from, if only we didn't do that everything would be great? Thats wishful thinking. If everyone would do what *I* say for example, none of these problems would exist. See? Thats also foolish, while the specific problems wouldn't exist, other different ones would.
The numbers are tweaked and they over compensate for computers. So they look better than they are.
Not really... Take Walmart, for example...CalPERS (California Public Employees Retirement System) owns about 5 million shares of Walmart stock. Walmart's profits (and those of all of the other corporations in which CalPERS owns stock) fund public employee retirees' pensions. The same is true of many other union pension systems and even individuals' 401Ks. No profits = no pensions...or no retirement account from which to draw when one no longer earns a salary. The same goes for most other publicly traded private sector corporations, as well.
Why do so many of you erroneously believe middle class America doesn't benefit from corporate profits? Do you just not think it through, or what?
Who's saying the middle class doesn't benefit from corporate profits????? Who is saying private sector profits are bad? The chart clearly shows that wealth doesn't trickle down and supply side economics were a terrible conservative policy.
I think the middle class would rather have better jobs and wages than pumping up their investments through the stock market. Or did you not think that through?
Yes, and lower income Americans are probably hurt more than any other group by high gas prices. But, they still support Obama and his insane fixation on increasing our energy prices.
National gas prices averaged $3.74 a gallon on August 18th, 2014 and $3.47 yesterday.
Why do you think profits have skyrocketed and labor plunged during the Obama Presidency wages increased and profits lowered during the Reagan Presidency?
Because Reagan never faced the intense globalization that picked up in the 90's (no China or BRICs yet) and he missed the technological breakthrough that have changed labor (automation).
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The reason is that when Reagan was President, he encouraged business which resulted in more businesses competing lowering their profits (good for the consumer) and more demand for labor. With the Obama administration, which is hostile at least in rhetoric to business, people have been afraid to start new businesses which resulted in lower competition for existing business which allowed them to lower wages resulting in higher profits.
Yes, and lower income Americans are probably hurt more than any other group by high gas prices. But, they still support Obama and his insane fixation on increasing our energy prices.
You do realize we are undergoing an oil and gas boom right now?
Not really... Take Walmart, for example...CalPERS (California Public Employees Retirement System) owns about 5 million shares of Walmart stock. Walmart's profits (and those of all of the other corporations in which CalPERS owns stock) fund public employee retirees' pensions. The same is true of many other union pension systems and even individuals' 401Ks. No profits = no pensions...or no retirement account from which to draw when one no longer earns a salary. The same goes for most other publicly traded private sector corporations, as well.
Why do so many of you erroneously believe middle class America doesn't benefit from corporate profits? Do you just not think it through, or what?
Again this is an over simplification. Both ways. Govt employees may or may not benefit from retirement funds. Certainly I am sure the employees hope that is the case. However, essentially one is talking about a specific product and service structure that operates under certain rules. Detroit is not the only place people with money in banks or funds have not gotten what they expected.
Pension funds were expertly pilfered in the 80s and 90s. Govt pensions are just a bit harder.
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