Posts Tagged ‘devalued’

US Dollar, Housing, Oil And Food Markets Point To Dodo Bird Ending For America: The Beast Is Coming

May 2, 2011

This is your dollar.

This is your dollar on Obama:

APRIL 23, 2011
Dollar’s Decline Speeds Up, With Risks for U.S.
BY TOM LAURICELLA

The U.S. dollar’s downward slide is accelerating as low interest rates, inflation concerns and the massive federal budget deficit undermine the currency.

With no relief in sight for the dollar on any of those fronts, the downward pressure on the dollar is widely expected to continue.
The dollar fell nearly 1% against a broad basket of currencies this week, following a drop of similar size last week. The ICE U.S. Dollar Index closed at its lowest level since August 2008, before the financial crisis intensified.

“The dollar just hasn’t had anything positive going for it,” said Alessio de Longis, who oversees the Oppenheimer Currency Opportunities Fund.

The main driver for the dollar’s decline is low interest rates in the U.S. compared with higher and rising rates abroad. Lower rates mean a lower return on cash—and the pressure from that factor could intensify next week when the Federal Reserve’s rate-setting committee is expected to signal that U.S. short-term rates will likely remain near zero for many months to come. On Wednesday, Fed Chairman Ben Bernanke is scheduled to give the central bank’s first-ever press conference following a policy-setting meeting.

But it is worry about the U.S. budget deficit that is intensifying the selloff. On Monday, investors were spooked by a warning from Standard & Poor’s that it might take away the U.S. government’s coveted AAA rating status amid concerns the Obama administration and Republicans in Congress might not be able to agree to significant reductions in the deficit.

In addition, Chinese government officials have stepped up rhetoric hinting they might diversify their $3 trillion of currency reserves away from U.S. dollars. Such a shift would chip away at what has been a substantial source of dollar-buying in recent years.

I dare say that the Wall Street Journal got it wrong this time.   While it certainly might be technically true that the immediate driver of the dollar’s decline is ” is low interest rates in the U.S. compared with higher and rising rates abroad,” that is only a symptom of the ultimate cause of the dollar’s decline.  The bigger picture can be summed up in two words: quantitative easing.  Obama’s Federal Reserve is creating money out of thin air.  And with more dollars chasing the same amount (and actually fewer) finite goods and services, the value of each dollar devalues. 

A week is a long time in Obama’s God damn America.  A fool-in-chief can do a lot of damage in a week:

APRIL 29, 2011
Dollar Skids to New Three-Year Lows
By JAVIER DAVID

NEW YORK—Investors wasted no time in sending the dollar to new three-year lows after the Federal Reserve gave them little reason to support it.

Weak U.S. growth and unemployment data quickened the dollar’s fall. Initial employment claims jumped back above the 400,000 level in the latest week. Meanwhile, gross domestic product data showed that economic growth slowed sharply in the first quarter, led by surging food and energy costs that sent a key gauge of inflation, the personal consumption expenditures (PCE) price index, soaring to its highest level in nearly three years.

Late Thursday, the euro was at $1.4821 from $1.4794 late Wednesday. The dollar traded at ¥81.54 from ¥82.04, while the euro was at ¥120.85 from ¥121.37. The U.K. pound bought $1.6640 from $1.6636. The dollar fetched 0.8733 Swiss franc from 0.8738 franc, plunging to a new record low.

The ICE Dollar Index, which tracks the U.S. dollar against a trade-weighted basket of currencies, was at 73.12 from 73.519, its lowest level since July 2008.

Has Obama made our economy better?  Really?  You’ve been watching and reading mainstream media propagandist lies, haven’t you?  Here’s the reality: our dollar situation is every bit as bad now as it was when the terrible economic implosion of 2008 hit us.  That giant sucking sound you hear all around you is the value and purchasing power of your dollar sinking into the abyss.

Here’s another major economic indicator going right down the toilet:

Home price gains since spring 2009 vanish
The Standard & Poor’s/Case-Shiller index for 20 major U.S. cities in February comes close to its previous bottom reached in April 2009.
By Alejandro Lazo, Los Angeles Times
 April 26, 2011, 5:06 p.m.

The home price gains made after the housing market bottomed in spring 2009 have vanished, with 10 cities posting fresh lows in February, according to a closely watched index that tracks home prices in America’s biggest metropolitan areas.

The Standard & Poor’s/Case-Shiller index for 20 major U.S. cities, released Tuesday, came within a hair of its previous bottom hit in April 2009. The renewed drop in home prices indicates the nation’s housing woes continue despite a recovery in the broader economy.

“There is very little, if any, good news about housing. Prices continue to weaken, while trends in sales and construction are disappointing,” said David M. Blitzer, chairman of the index committee at Standard & Poor’s.

[…]

Foreclosures remain a significant part of the market and probably will remain so for the foreseeable future as borrowers continue to fall behind on their mortgage payments.

Patrick Newport, U.S. economist for consultancy IHS Global Insight, wrote in a note Tuesday that the decline in the index and drops in other home price measures — specifically a monthly index produced by the Federal Housing Finance Agency, which has seen steady declines in recent months — indicate that the housing slump is once again widespread.

The federal agency’s index’s “recent decline indicates that the vicious cycle in which falling prices lead to more foreclosures which lead to even lower housing prices, continues to play a role in keeping housing on the mat,” Newport wrote.

The Case-Shiller index has fallen to nearly the same level it was in April 2009, the last time it bottomed, evaporating the gains made last year after a popular tax credit for buyers fueled sales nationally. Experts predict prices will continue to fall this year, pushing past their previous lows into a much-feared double dip.

The only thing propping up the economy under Obama’s morally and fiscally idiotic policies is QE2.  Banks and major businesses are not being allowed to fail (it’s all too big too fail in an increasingly fascist system in which the government dominates the banking and corporate spheres).  Right now, the system Obama has only made more broken is being kept afloat in cash being created out of thin air.  The last time quantitative easing ended, the DOW immediately lost 16% of its value in two weeks.  And QE2 is set to end in June.

This means QE3, and then of course QE4.  Because “QE” means “Quack Economics” far more than it should mean anything else.

The following video WAS a fictional account warning us of what could happen.  But it is about to become news before history confirms it:

And do I really have to say anything about gas prices?  Gas was $1.79 a gallon when Obama took office; it is now $3.91 and going up every single day.  That is an increase of more than 118%.  How’s that hope n’ change workin’  out for ya?

Should I mention corn?  Field corn has increased 300% (from $2 a bushel in 2009 to $6 a bushel now) under Obama’s dreadful godawful policies

Wheat prices have more than doubled.  These are basic staples used in everything. 

Food costs more than at any time since 1974.  And it’s going to get much, much worse.  Prices for food and meat are going to soar in the coming days.

Liberals say they care about the poor.  But they don’t give a damn about the poor.  All Democrats want is to “fundamentally transform” America into a socialistic system where they can maintain power forever.

The other thing to say about the above is that Gerald Celente predicted in 2008 that food riots and revolution would overtake America by 2012.  I pointed out in a recent article that what he said is exactly coming to pass both here and around the most flammable region on earth.

And all the unrest you’re seeing around you is simply the Cloward and Piven strategy for bringing about the downfall of the United States of America finally coming to pass exactly like the left wants, and exactly like people like me were talking about for the last two years.

Nobody’s really telling you about what’s happening or about what’s coming.  And that’s mostly because nobody wants to hear about it.

When Adolf Hitler seized power (he never took more than 37% of the vote, but that doesn’t stop a big government tyrant from seizing total power), he began to ruthlessly suppress dissent.  Today, the Democrat Party has pushed on attempt to impose one euphamistically-named “Fairness Doctrone” after another to shut down competing voices, even as Nancy Pelosi now demands a system in which “elections shouldn’t matter so much” in the aftermath of the one that drove her from power).

I think of one journalist named Stephen Laurent who was impriosoned for trying to tell the truth about Hitler.  He wrote:

“I am writing this from cell 24. Outside a new Germany is being created. Many millions are rejoicing. Hitler is promising everyone precisely what they want. I think when they wake to their sobering senses, they will find they have been led by the nose and duped by lies.”

And that is where America is heading.  Only there will be no America to rebuild America the way the United States of America rebuilt Germany in the aftermath of Germany reaping its whirlwind after sowing the wind.  Obama himself will have seen to that.

The funniest thing about this – if anything about America turning into a socialist banana republic is “funny” – is that it will be the left who so rabidly despise the Word of God (otherwise known as the Holy Bible) who will bring about it’s ultimate fulfillment.

The beast is coming.  He will be a one-world global leader who will take over in the catastrophic aftermath of false messiahs like Barack Hussein Obama.  He will be the personification of the United Nations and globalism and a world without borders and all the other total idiocy the left has been jabbering about for decades.  He will represent the sum total of everything the liberals have ever yearned for.

The secular humanist left has said that if they could just take over, they would create a humanist Utopia.  God is going to give them their chance in the Tribulation with the big government Utopia of the Antichrist.

And in just seven years he will have brought a literal hell on earth.

It will be the left – it will be the people who most hate and despise and mock the Bible – that brings about all of the end times prophecies of the very Bible they so ridicule.

Barack Obama is an example of the sneering tone of the left toward the Word of God:

Which passages of Scripture should guide our public policy? Should we go with Leviticus, which suggests slavery is ok and that eating shellfish is abomination? How about Deuteronomy, which suggests stoning your child if he strays from the faith? Or should we just stick to the Sermon on the Mount – a passage that is so radical that it’s doubtful that our own Defense Department would survive its application? So before we get carried away, let’s read our Bibles. Folks haven’t been reading their Bibles.

But I have been reading my Bible, President Obama.  And I’m seeing more and more reasons to believe it and accept it as God’s Word about a time which is now at hand.

I see the dollar devaluing to nothing; I see the cost of food skyrocketing.  And I consider the words of the book of Revelation:

He also forced everyone, small and great, rich and poor, free and slave, to receive a mark on his right hand or on his forehead, so that no one could buy or sell unless he had the mark, which is the name of the beast or the number of his name” (Revelation 13:16-17)

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Obama Hope N’ Change Now Means No Food, No Fuel And No Roof Over Your Head

April 29, 2011

Then I heard what sounded like a voice among the four living creatures, saying, “A quart of wheat for a day’s wages, and three quarts of barley for a day’s wages, and do not damage the oil and the wine!” (Revelation 6:6).

Messiah Obama wisely understands that we need sky high energy prices to force us to abandon lifestyles that are bad for the world.  That way he can keep the promise he made to the earth: “this was the moment when the rise of the oceans began to slow and our planet began to heal.”  The earth is much bigger than your little children, so Obama can break his competing promises to you and your family.  In fact, your evil if you want him to keep his promises that would prevent him from his messianic duties of healing the whole world.

A gallon of gas was $1.79 when Obama took over from that terrible George Bush.  Unfortunately, it has gone up about 110% under Obama, to $3.88 this week.  Damn that Bush devil!  Can you believe the way he actually wanted to keep the cost of our energy low, so people could do awful stuff like drive to work?  The half of us who sponge off the other half don’t need work, so why should the half we sponge off of?

The United States has more coal than anyone else on the planet by far and away, and half of our nation’s electricity comes from coal.  But America is evil if it uses coal.  Let China build a new coal-fired electricity plant every single week and overtake our economy.  They’ll be bad and our poor, destitute starving children will be good.  That’s why Obama promised liberal San Franciscans, “So if somebody wants to build a coal-powered plant, they can; it’s just that it will bankrupt them because they’re going to be charged a huge sum for all that greenhouse gas that’s being emitted.”  HERES the system any enlighted American would clearly want: “Under my plan of a cap and trade system, electricity rates would necessarily skyrocket.”  It won’t matter how many Americans die in abject poverty; Obama is just what we needed.

China will overtake the U.S. economy by 2016, they’re saying now.  What’s that, you ask?  They were saying China wouldn’t overtake us until 2018 just a few months ago?  You don’t seem to understand the meaning of the words “funamentally transform” very well, do you?  But they’ll be bad, because they’ll be burning all that oil and coal and we won’t be.  That makes us better.  And so what if we have to freeze in the dark?

And the messiah to the world also knows that if you can afford gasoline, you might be so selfish as to actually drive.  And evil working poor people usually can’t buy expensive and impractical electric cars, so he must force them by making it hurt for them to drive.  That’s why he appointed an energy secretary who has been trying to“figure out how to boost the price of gasoline to the levels in Europe.” .  And of course when gas is $9 a gallon in Germany, Obama has a long way to go to bring Europe to America.  The only tragedy of soaring gas prices, of course, is that Americans might actually hold Obama responsible.  That’s why he answered the question, “Could the high gas prices help us?” by saying, “I think I would have preferred a gradual adjustment.”

We already voted for the “hope and change” of $9 a gallon gas in the wonderful fundamentally transformative election of 2008.  And how dare people get angry about that now!!!

Because Obama in his blessed wisdom knows that most Americans are far, far too stupid to understand anything that happens gradually, such as gas rising to the $8 a gallon levels like they are in Europe.  And it doesn’t really matter how much the American people suffer.  Not compared to healing earth and lowering the seas like Moses.  Obama will be better than Moses; he’ll make the level of the whole ocean change!!!!

And then there are the large families that can’t fit all their kids into an electric car or a hybrid anyway.  Obama is right: they should like kill the extra children or something.  Because children should die so the earth can be happier.

And food?  So what if the price of food is going through the roof?  Michelle Obama will tell you that you’re too fat anyway.  You need to lose a whole lot of weight, and her husband’s policies will give you the help you need.  You shouldn’t be allowed to eat half as much food as you eat, anyway.  They don’t get to eat in North Korea, and it’s a socialist worker’s Utopia.  So why should it be any different in the worker’s Utopia your Dear Leader is trying to create for you here?  North Koreans are 5.3 inches (13.5 cm) shorter and 30 pounds (13.5 kg) lighter than those fat overfed capitalist South Korean bastards.  And American kids should be as short and gaunt as their fellow socialist travellers.

Michelle said of his worshipfulness: “Barack Obama will require you to work. He is going to demand that you shed your cynicism. That you put down your divisions. That you come out of your isolation, that you move out of your comfort zones. That you push yourselves to be better. And that you engage. Barack will never allow you to go back to your lives as usual, uninvolved, uninformed.”  Or full.  Either your stomach or your gas tank.  And I couldn’t agree more.  As we socialists have said in the past, “Arbeit macht frei.”  And just what kind of a bad person are you for not being grateful to him?

I sure hope I’m not putting too much crap in the sandwich I’m feeding you.  Because excrement is a precious commodity in North Korea.  And it should be just as precious here.

But just in case you think the hope and change of Obama’s fundamental transformation is already more than you can bear, it gets even better.  The cost of having a roof over your head is skyrocketing, too.  Which might help you not worry so much about the price of food and the price of fuel.

Renters spending bigger chunk of income on housing
Study says supply of affordable housing has shrunk along with incomes.
Posted by Teresa at MSN Real Estate on Wednesday, April 27, 2011 12:48 PM

Record numbers of Americans are paying more than half of their pretax income for rental housing, according to a new study.

The study, by the Harvard University Joint Center for Housing Studies, found that the recession’s toll on incomes had increased more families’ housing-cost burdens. Almost 26% of renters spend more than half of their income on rent and utilities. Another 26.2% spend 30% to 50% of their incomes.

The study’s findings are similar to the findings of the Center for Housing Policy, which found that working families, both renters and homeowners, were spending a larger proportion of their income on housing. [..]

Lower-income renters have historically struggled to find affordable housing and have paid a disproportionate share of their income in rent. But, according to the study, that problem is moving up the income ladder with more lower-middle-income renters and middle-income renters paying 30% to 50% of their incomes for rent and utilities.  […]

Here’s how The Washington Post summarizes the situation:

The study offers the latest in a series of grim statistics about the scarcity of rental housing, especially for the working poor. The supply has not kept up with demand in part because of a shortage of apartments, a key source of new rentals. Developers cut back on such projects when the economy deteriorated in 2009, which drove down vacancies and boosted rents. Analysts say they expect rents to keep climbing as developers try to ramp up new projects and catch up with demand.

In many areas, the demand is driven by families who lost their homes to foreclosure during the housing bust and ended up searching for rentals. Meanwhile, as the job market recovers, more newly employed young adults appear to be seeking their own apartments instead of living with their parents, putting even more upward pressure on rental rates, according to one of the study’s researchers.

But don’t worry.  Pretty soon, thanks to Obama’s financial policies, you’ll have cash.  Lots and lots of cash.  Wheelbarrows full of it, in fact.

The decline of the U.S. dollar is accelerating rapidly.

Here are a couple of videos worth watching about the exciting fundamentally transformative changes you can hope for coming your way soon!

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Just How Is Obama NOT An Abject Failure?

August 27, 2010

Under Barry Husseins’ pathetic failure of leadership, 24% of Americans believe that the recession will last 2 years.  And another 51% believe that it will last MORE than two years.  Given the fact that Obama will only be president for another two years, and given the fact that Obama was elected to fix the economy, what we basically have is a statement from 75% of Americans that Obama will be a completely failed president.

Here’s another one, and allow me to quote from below:

Only 13 percent of Americans say Mr. Obama’s economic programs, among them the stimulus package, have helped them personally. Twenty-three percent say they have hurt, while 63 percent say they have had no effect.

Now, understand: the stimulus is officially $862 billion, but it’s actual cost according to the Congressional Budget Office will be $3.27 TRILLION.  And 87% of the American people say that this beyond supermassive sum of money which will burden our children for decades either had no effect at all or actually HURT them.

Now, this $3.27 trillion will surely ultimately be ripped out of the hide of the US economy.  It’s only a matter of time.  An increase in the money supply is rather like an overdose of drugs.  And in this case the effect of the overdose will be hyperinflation.  Basically, the moment we have any kind of genuine recovery, our staggering deficit is going to begin to create an ultimately gigantic inflation rate.  Why?  Because we have massively artificially increased our money supply beyond our ability to actually produce real wealth, and that means that money will ultimately be devalued.  There’s simply no way it can’t be.  If simply printing money solved financial problems, the government could just mail everyone several million dollars, and we could all retire.  The problem is that more money chasing a limited supply of goods simply pushes up prices higher and higher without doing anything to solve the underlying economic problems.  If we have a recovery, with increased economic activity, there will be increased demand on the money supply, forcing an upward climb in interest rates as a means of controlling the currency.  And then we’ll begin to seriously pay for Obama’s and the Democrat Party’s sins.  Paradoxically, the only thing preventing hyperinflation now is the recession, because people aren’t buying anything and therefore aren’t competing for those limited goods.

That said, there is solid evidence that the stimulus actually HURT THE ECONOMY AND EMPLOYMENT IN THE RIGHT-HERE-AND-NOW by sucking money out of the private sector where it would have been put to good use and instead funneling it through the government were it was pissed away on political boondoggles and bureaucratic inefficiencies.  The evidence is clear: the governments that did not pass huge stimulus packages have fared much better than those like the US which did.

A further fact in our economic and political collapse is that Obama is creating a permanent elite class of government bureaucrats.  USA Today found that “At a time when workers’ pay and benefits have stagnated, federal employees’ average compensation has grown to more than double what private sector workers earn.”  Obama has massively expanded government, even as the the real pie for everyone (the economy) has been shrinking.  Since government workers don’t actually create wealth, but merely live off the taxes paid by those who create wealth, and since there are more and more government workers and fewer and fewer private sector workers, we’re heading for a real problem.  Again, “paradoxically” is a good word, as paradoxically Obama is creating a ruling class over the people who consume the peoples’ wealth in the name of helping the people.

And all of the above contributes to why Gerald Celente says America is about to experience what he calls “the Greatest Depression.”

July 13, 2010 6:30 PM
Poll: Americans Say Bad Economy Will Linger
Posted by Brian Montopoli

CBS News Poll analysis by the CBS News Polling Unit: Sarah Dutton, Jennifer De Pinto, Fred Backus and Anthony Salvanto.

(Credit: CBS)

A majority of Americans have a negative impression of the economy and expect the effects of the recession to linger for years, according to a new CBS News poll.

Most also say President Obama has spent too little time on the economy, which Americans cite as the country’s most important problem by a wide margin.

Three in four Americans now say the effects of the recession will last another two years or more. More than eight in 10 say the condition of the economy is bad, up five points from last month.

Just 25 percent of Americans say the economy is getting better – down from 41 percent in April. About half say it is staying the same, and the remaining quarter say it is getting worse.

More than half of Americans – 52 percent – say Mr. Obama has spent too little time dealing with the economy.

And with unemployment near 10 percent, the economy is their priority: Thirty-eight percent volunteer it as the country’s most important problem. That far outpaces the percentage that cited the wars in Iraq or Afghanistan (seven percent), health care (six percent), the deficit (five percent), and the oil spill in the Gulf (five percent).

The county’s most important economic problem, Americans say, is jobs, volunteered by 38 percent of respondents. Coming in a distant second was the national debt, the deficit and spending, cited by 10 percent in the poll, which was conducted between July 9th and 12th.

Just 27 percent of Americans say their local job market is good. Seventy-one percent call it bad. Nearly one in four expect their household finances to get worse over the next year, twice the percentage that expects their finances to improve.

Only 13 percent of Americans say Mr. Obama’s economic programs, among them the stimulus package, have helped them personally. Twenty-three percent say they have hurt, while 63 percent say they have had no effect.

Twenty-three percent say the stimulus package made the economy better – down from 32 percent in April and 36 percent last September. Eighteen percent say the stimulus package damaged the economy, while 56 percent say it had no effect.

The president’s job approval rating on the economy now stands at 40 percent – a drop of five points from last month. Fifty-four percent disapprove of his handling of the issue.

In general, Americans see Mr. Obama as spending too little time on the economy and the oil spill in the Gulf, and too much time on health care: Thirty-nine percent say he has spent too much time on the issue, while 24 percent say he spent too little time.

Americans do believe the president takes decisive action, with two and three suggesting he does. But more than half (53 percent) say he is not tough enough in his approach.

Americans are evenly split, meanwhile, on whether the president shares their priorities. Two in three believe he cares at least to some degree about people like them.

The president’s overall approval rating now stands at 44 percent, matching his disapproval rating. It stood at 47 percent last month.

The Issues: Economic Priorities

Most Americans – 53 percent – say the best way to get the economy moving is to cut taxes. Thirty-seven percent instead choose government spending on job creation.

Americans are split about how the federal government should spend its money: Forty-six percent say the priority should be spending to create jobs, and 47 percent want to put the focus on deficit reduction.

More than half want Congress to extend unemployment benefits now, a Democratic priority that has been blocked by Congressional Republicans.

Immigration:

Support for Arizona’s controversial immigration measure has increased: Fifty-seven percent say the law is “about right,” up five points from May. Just 23 percent say the law goes too far, while 17 percent say it doesn’t go far enough.

More than half say states should be allowed to pass illegal immigration laws, while 42 percent say only the federal government should have that power.

Americans are somewhat split on the impact of illegal immigrants: 42 percent say they take jobs away from Americans, while more – 50 percent – say they take jobs Americans don’t want.

Health Care:

Americans still largely disapprove more than they approve of Mr. Obama’s sweeping health care reforms. Forty-nine percent of Americans disapprove of the health reform legislation, while 36 percent support the law. Support has dropped seven points since May.

The Oil Spill:

Americans are roughly evenly split on whether BP will stop the flow of oil in the Gulf of Mexico by the end of the summer. Most (58 percent) are not confident that the company will fairly compensate those affected by the spill.

Wall Street Reform:

With Democrats poised to pass sweeping reforms of Wall Street this week, a majority (57 percent) say bank regulations should be increased.

Afghanistan and Iraq:

Sixty-two percent of Americans say things are going badly for the United States in Afghanistan, up from 49 percent in May. Just 31 percent say things are going well.

In Iraq, 55 percent say things are going well, while 28 percent say things are going badly.

Most Americans favor a timetable for withdrawing troops from Afghanistan. Fifty-four percent back a timetable, while 41 percent oppose one. Mr. Obama has said the United States will start removing troops from the country in July of next year, but only if conditions on the ground permit.

Elena Kagan:

Most Americans can’t say whether Supreme Court nominee Elena Kagan should be confirmed. Among those who have an opinion, 21 percent say yes and 19 percent say no. Less than half say they are closely following news about her nomination.

The Long Run:

Despite their concerns about the economy, Americans do not believe their country is on the decline. Fifty-nine percent expect things to get better in the long run, while 36 percent say America’s best days have passed.

Read the Complete Poll

More from the poll:

Poll: Support For Health Care Reform Drops

Poll: Most Want Afghanistan Withdrawal Timeline

Poll: Support for Arizona Immigration Law Hits 57 Percent

Obama’s Approval Rating on Economy Drops


This poll was conducted among a random sample of 966 adults nationwide, interviewed by telephone July 9-12, 2010. Phone numbers were dialed from random digit dial samples of both standard land-line and cell phones. The error due to sampling for results based on the entire sample could be plus or minus three percentage points. The error for subgroups is higher.

This poll release conforms to the Standards of Disclosure of the National Council on Public Polls.

This article was written in July.  And it is amazing how far we have fallen since those days only a little over the month ago (that was back when Obama was pitching his pseudo “summer of economic recovery, donchaknow).

Now here we are, with Obama’s failures being revealed to be even MORE magnificent, as the jobless claims rise to their highest levels in 9 months (with over half a million new filings).

The Associated Press reports:

The layoffs add to growing fears that the economic recovery is slowing and the country could slip back into a recession.

There’s your double-dip recession for you.  And that recession belongs entirely to Obama and the Democrat Party, which are leading us toward complete ruination.

All Obama has going for him are false blame on Bush to explain his two-years’ worth of abject failure and outright lies, such as his recent one taking credit for a stimulus dollar success when the stimulus didn’t have anything to do with the project Obama cited.

For the record, Obama has been lying about employment all along.

With $862 billion dollars you’d think Obama could find at least one actual success.  But the porkulus was THAT bad; there weren’t any.

Some other things that the poll didn’t mention: a solid majority of Americans now believe that their president is a socialist (as people like me were saying all along).

And Americans now trust Republicans more than Democrats on ALL TEN of the most important issues facing the country, according to the lastest Rasmussen survey:

If all of this doesn’t represent a massive failure of leadership, precipitating a failure of trust which itself creates massive economic suffering, please tell me how it isn’t.