We’re being told that the economy is recovering. Green shoots. You stupid people, the lib-anointed experts say, we’ve been in recovery for years under Obama. The streets are paved with gold.
Polls clearly show that the American people believe that about as much as they believe Obama’s NSA spying on them (that Obama’s Director of National Security flagrantly lied about to Congress and to the American people on national television) is harmless:
Poll Showing Most Americans Believe Economy Is and Will Stay in Poor Shape Puzzles Politico, CNN
By Tom Blumer | December 31, 2013 | 09:36
One thing the establishment press will not be celebrating this evening as we head into 2014 is the fact that they have been unable to convince the American people that the economy has been and will continue to be on the rebound.
A CNN/Opinion Research Corporation poll released on Friday, which “oddly enough” (no, not really) is not being touted at ORC’s related press release web page, shows that 68 percent of Americans believe the economy is in poor shape. Over half expect the economy to be in that condition a year from now. This came as somewhat of a surprise to Lucy McCalmont at the Politico and Gregory Wallace at CNNMoney.com.
McCalmont’s brief post said that the result occurred “despite some strong indicators.”
Wallace’s longer report attempted to cite several specifics (bolds are mine):
Many Americans feel economy isn’t improving (Note to headline writer: That’s “most,” not “many.” — Ed.)
Despite a recent string of positive economic news, Americans say they aren’t feeling the improvements.
A new CNN/ORC poll released Friday showed people were pessimistic that the economy was improving. Nearly 70% said the economy is generally in poor shape, and only 32% rated it good.
By some metrics, the economy has moved ahead this year. The stock market, for example, has surged — the Nasdaq is up nearly 40% since January. Unemployment is at a five-year low point. Auto sales are at a seven-year high. Gas prices have dropped. And the housing sector, which dragged the U.S. into recession five years ago, is rebounding.
The Federal Reserve sees signs of strength, too. In December the central bank pulled back slightly on the stimulus that has boosted investor confidence this year.
But behind those numbers are the long-term unemployed, the under-employed and those who have dropped out of — or never even entered — the workforce. They’re not sharing in the surging stock market, and many are about to lose jobless benefits.
Wallace’s points about the job market are fine, but many of the alleged positive factors he cited really aren’t when subjected to any kind of analysis.
Unfortunately, the average American is not sharing in much if any of the stock market’s gains.
The point Wallace attempted on gas prices was pretty weak. The national average of $3.30 per gallon is still more than double what it was at the end of 2008.
As to the housing sector, new-home sales are still less than 70 percent of the 700,000 annual level considered healthy by writers at the Associated Press (I think it should be more like 750K-800K).
Finally, the idea that the Fed’s “pullback” indicates “signs of strength” is ludicrous. Given that the annual deficit and mostly related additions to the national debt are about half as high as they were during the Obama administration’s early years, the Fed should have been able to pull back much further if it were really comfortable with where the economy is going. But it’s not, which is why its “taper,” from creating $1.02 trillion per year of funny money to “only” $900 billion, was so small.
And of course, looming over all of this is the impact of Obamacare’s exorbitant premiums and sky-high deductibles on Americans’ spending hablts — something Wallace and McCalmont “somehow” forgot to mention.
Cross-posted at BizzyBlog.com.
And the headline says it all:
Maybe we can put it this way: are these economic “experts” lying about the economic recovery? “Not wittingly.”
As to this “recovery”:
WHAT RECOVERY? George Will Exposes Obama’s Failed Economic Record (Video)
Posted by Jim Hoft on Thursday, January 2, 2014, 6:47 PM
What recovery? George Will tonight exposed the Obama administration’s failed economic record. He nailed it.
“The recession began in December 2007. Since then we’ve added 13 million more Americans are in the country and we have 1.3 million fewer jobs. We’ve lowered the unemployment largely, not entirely, but largely because workforce participation rate has gone down as more and more workers have been discouraged and are no longer count any more because they’re no longer looking for work. If the workforce participation rate today were as high as it was when the recession began the unemployment rate would be 11.3%. We wouldn’t be calling it a poor recovery because it wouldn’t count as a recovery at all.”
George is right. The employment-population ratio the last twenty years has bottomed out during the Obama years — that is, the percentage of Americans above age 16 who work for a living.
The chart clearly shows the results of Barack Obama’s failed economic policies.
** Zero Hedge has more stats on how Obama’s policies have damaged the American economy.
I have written about Obama’s dreadful (and continually getting worse under his watch) labor participation rate, which is the measure of adult Americans who actually have JOBS.
In November 2010 it was 64.5% under Obama, which meant that the lowest percentage of Americans actually had jobs in 25 years. But things had “improved” under Obama’s watch so that by August of 2011 it had plummeted to 63.9% and the worst in 27 years (the worst since January 1984). But Obama kept working to “improve” things, such that by May of 2012 fewer Americans were actually working than at any time in 31 years.
And now Obama has “fundamentally transformed” the labor force again such that only 63.0% of working-age Americans are actually WORKING (and you can see how WONDERFUL it was in comparison when Bush was president in the Bureau of Labor Statistics chart here).
Forbes points out that during the last four years of Obama, you’ve got to go back FIFTY YEARS to find a worse four-year record. Obama has failed America in the worst possible way. And the American people know it in spite of what they’re being told by the “experts” who are nothing more than ideologue propagandists who might as well be working for Stalin.
BECAUSE OF OBAMA and his demonic failed policies, people are not working. And the Americans who ARE working are mostly working part time jobs as they experience the ObamaCare hell of being 49ers (small businesses with more than fifty employees are cutting their workforce to be under the 50 employee limit to stay under the draconian ObamaCare regulations) and 29ers (whose work hours are cut to keep them below the full-time employee threshold so they don’t fall under the draconian ObamaCare regulations).
People are desperate. So Obama and his Demonic Bureaucrats (i.e., Democrats) boast about the “recovery” while at the same time they point out things have never been WORSE than they are under Obama.
You deserve this, America. You voted for the most wicked president in history and then actually voted to RE-ELECT him. You voted for a baby-killing murderer with the blood of 55 million murdered babies on his hands. You voted for a sodomite worshiper who lied about his stance on gay marriage only to put his “morality” above God’s and say what God declared to be an ABOMINATION is a good thing.
Updated January 10, 2014: Hi there, kids in TV land! Just wanted to refresh you on the very latest Obama “fundamental transformation”: the labor participation rate – the best measure of how well or how truly godawful an economy is doing to create jobs – is now 62.8 percent. That’s right, it aint Bush, it’s Obama who has brought America to low after low after low and has now degenerated America to the worst labor participation rate in 35 years (i.e., since 1978).
Again, you deserve this, America. And more of what you deserve is coming for your baby killing, sodomite worshiping, demon-possessed president voting ways.
It was Obama’s reverend who put it best: “No, no, no! NOT God bless America! God DAMN America!”
You voted for it, and you got what you voted for.