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Obama's Economic Recovery In Pictures
Submitted by Lance Roberts of STA Wealth Management,
On Thursday, President Obama will give a speech at Northwestern University's Kellogg School of Management on the economy. This issue is critical going into the mid-term elections as virtually every poll shows this is a top concern of voters.
The question of economic recovery is interesting in the context of where that recovery has occurred. As I discussed recently in "For 90% Of Americans, There Has Been No Recovery,"while the ongoing interventions by the Federal Reserve have inflated asset prices, the only real accomplishment has been a widening of the wealth gap between the top 10% of individuals that have dollars invested in the financial markets and everyone else.
Another problem for the President at Northwestern University is that he will be trying to promote his success on economic recovery to a group of individuals who are currently plagued with a poor slate of economic statistics. The unemployment rate for 18-29 year-olds is nearly 12%. Over 30% are still living with parents more than two years after graduation. Only 43.6% of young adults currently hold a full-time job. 53% are either jobless or underemployed relative to the education.
These stats are going to make promoting an "economic success" story rather difficult. However, let's review Obama's economic scorecard in terms of the things that truly matter to the average American.
Full-Time Jobs
There is only one chart of employment that truly matters: the number of full-time employees relative to the working age population. Full-time employment is what ultimately drives economic growth, pays wages that will support household formation and fuels higher levels of government revenue from taxes. If the economy were truly beginning to recover, we should be witnessing an increasing number of full-time employees. Unfortunately, that has not been the case as this measure, as shown by the chart below, is only slightly off the lows witnessed during the financial crisis.
Wages & Salaries
Given that nearly 70% of economic growth is driven by personal consumption expenditures, the sluggishness of economic growth since the financial crisis can be directly attributed to a fall in personal incomes. According to a recent Federal Reserve survey, median household before-tax incomes have fallen from near $52,000 annually to roughly $47,000 currently.
The decline in income comes at a time when costs of living have continued to rise. While it is often stated that the "Labor Force Participation Rate" has fallen in recent years due to the a slate of baby-boomers retiring, there are currently more individuals over the age of 65 in the workforce than at any other time in history. For many of those individuals, it is not a question of "wanting" to work, but rather "having" to work.
Financial Security
Another mainstream media theme has been that the surging stock market, driven by the Federal Reserve's monetary interventions, has provided a boost to the overall economy. However, as I have suggested previously, the bulk of the population either does not, or only marginally, participates in the financial markets. The boost from inflated asset prices driven by Federal Reserve interventions has remained concentrated in the upper 10% of the population. The Federal Reserve study breaks the data down in several ways, but the story remains the same. The median value of financial assets for families has fallen sharply since the turn of the century.
Except for those in the top 10 percent of the population.
Opportunity
The U.S. economy was built on opportunity. However, since 2007, opportunity to "own" a business has plunged to the lowest level since 1989. As discussed, the Bureau Of Labor Statistics adjusts to the employment report upward to account for "new business" start-ups. Since 2009, the "birth/death" adjustment has added 3.5 million jobs to the employment roll. The problem, however, is that the number of families that owned business equity has plummeted during that same period.
Economic Stability
When it comes to the "average" American family, the need for "economic stability" is critical to the support of spending and consumption habits. As shown in a recent WSJ poll, the majority of American's believe that the economy is headed in the wrong direction.
While President may tout "economic success" from various "statistical measures," the structural transformation that has occurred in recent years has likely permanently changed the financial underpinnings of the economy as a whole. With the average American in financially worse condition today than when President Obama took office, it will be difficult to suggest that he has been successful in "fixing" the economy.
Has there been an economic recovery under President Obama? Sure, but it depends on who you ask.
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Where is the Ebola graph?
Look on the bright side. The dispersal of weaponized Ebola will make sure the number of those Kenyan e-mails from the Central Bank offering me $20 million will at least taper off.
"Biden apologizes to Turkish president for ISIS remarks"
"'US won’t decide our policies' – Sweden on Palestinian state recognition
Http://rt.com
Whitehouse is being bitchslapped everyday by a new parry. It's not any more just Putin and China...
Not that there's anything wrong with that!
- Ned
I want to know why the Tylers have never once done an article on ICLEI, Agenda 21, or the corruption in the UN.
Well, present yer evidence, then.
Weakness and incompetence invite attack.
Nope, incompetence and laziness invite attack. By measure the US is a relatively weak country. It's the lack of laziness by the military that makes it strong.
Though we of course don't buy into the red/blue chicanery, we can't but hope that the Dems suffer a serious caning in the upcoming elections. If for no other reason than to hear the likes of Reid, Pelosi, Debbie Blabbermouth-Schulz et al, attempt to explain it away.
They will the Ebola fear whipped up so bad by November that nobody will go to polls. Prez ebony will bus in supporters in space suits to vote for his team
The Hajj is underway. Wonder how many of those people might contract Ebola?
If it's seriously dangerous, somebody's gotta get it.
If nobody gets it .....
Curiouser and curiouser
knuckles, the King ain't lettin' any suspected infected duuuuudz into his fricken kingdom. He's excluded all of the true believers from the infected countries.
I'm a'smellin another three-letter-agency doin' some serious shit along the hajj, don't cha' know.
- Ned
Hoping Captain Ebola burns this motherfucker to the lug nuts.
I know. I know. Selfish and mean spirited. That's just how I feel.
I hope the layover the Ebola guy had in Dulles infects all those crooks and liars.
In previous elections when the socalist party lost the "news" labeled it the voters throwing a temper tantrum.
"Those stoopid... childish... voters don't know what's best for them. And that's the "news." Good night..."
Bullish.
Doing great here Barry,
Xoxo, jamie
Ding!
https://twitter.com/mackayim/status/518377388162285569
Liar in chief obamy needs a megadose of "eboly".
It is unfortunate, comrade, that most Americans and politicians clearly believe that the government, and president, are now somehow responsible for the economy and, "recovery."
Responsibility becomes culpability.
This is how this ends, with failed leaders hung by their heels.
Well just like a QB in football, they want to take the Accolades when they win, they have to take the heat when they [we] lose. Bigger question is when will we come to the realization that we do not need .gov or politics Comrade?
When? Realization? Almost all human civilizations need some type of government, and all governments that I have ever heard of feature politics, so never is my guess.
Maybe, someday, we will have an iGov with no politicians, no politics, and just software algorithms. We are nearly there with our markets.
In Huxley's Brave New World, what he imagined is a society based on chemistry, so why not some other technology?
There will eternally be people that insist that we need leaders and force themselves into those positions of power.
Most people will go along with it because they are busy making ends meet (reoroduction/housing/food).
They can't be bothered with the "big decisions" of state.
They've been convinced by those that seek power that they can't possibly understand the complexities of state, federal and global politics.
Similarly to economics, it's been shrouded in incomprehensible bable.
We will either grow to realize we don't need them or we will stagnate and die.
Over and over. Endlessly. forever.
"Meet the new boss. Same as the old boss."
Such a simple concept but so hard to understand due to our short attention span/memory.
We are doomed to endlessly repeat our mistakes.
Unfortunately, with the infestation of the Ebonic Plague and the satanic muscumery fifth column Ovomit has imported filling our streets, we need to bring the U.S. military home to police the urban plantations the government has created.
Behold Obola's flood of deadly pestilences inundating us from south of the border and the Joo head of the CDC warning us that to qurantine the African source of the deadly Ebola virus would make the American infestation worse???!!! Do they really think that anyone outside the major lapdog media believes that for a moment?????
The U.S. Government has declared war on the American People and most of the dumbed-down American People don't even realize it.
Our little Caniggula thinks he can just order the economy to improve, and it will. But with the recent revelations that the Secret Service's security apparatus is about as water-tight as a doily, it may just be that our own Praetorian Guard has arranged for the little prince to have an accident.
"Caniggula"?
Oh my God!
Well, Obama did do the PC thing and appoint someone wholly unqualified for the job cuz of the Columbian hooker scandal, another monumental blunder.
(Yes I saw the spelling...lol)
Doth lightning everest striketh?
Head of the Secret Service. Only person Obama's ever fired for incompetence. When it comes to his own safety, he is swift to react. When it come to ours, well.... you get the point.
I think the Black Panthers would make just the right statement. Line them up around the White House, just like its voting day. They will keep the crackers out da joint.
Caniggula. I can't this anywhere else.
One reason all of you are missing signs of the recovery is because you're spelling it wrong ... the affirmative action administration spells it with a "k" and drops the second "e" as in "rekovry."
Reggie feeds Caniggula grapes slowly, sensuously, while Michael burns ants with a magnifying glass. The lions are sluggish, lethargic, as their bellies are too full....
Holy sweet Jesus!
You people are fucking crazy!
That's...... Beautiful. Simply, Beautiful....
"Canniggula!" +100!
hedgeless_horseman; Seems like I am losing my mind when the Administration Speaks... (not to be confused with Black Elk Speaks, but I give that one to William Banzai).
I turned on the radio an hour ago only to hear a native Spanish speaking US Official announcing that the Poverty Rate had Declined. I'm thinking here is a woman that signed up to reduce the poverty rate. WTF.
If the Poverty Rate declined it was due to transfers like EBT for Snap or from WIC welfare.
LOL That is a hell of a Career when you are a minority, and you sign up to put out Propaganda (not sure if it was foxnews or NPR)
Backdoor Barry seems to have lost a lot of color in that photo. Who's the chick? A transvestite?
The only thing Obama knows how to do is lie.
... and golf.
...And welcome Reggie with his Ass
he can choom, he wrote about that.
I prefer big booty blondes and latina chicas...
not sure about golf - what about been a gay?
Does anybody know if he is actually good at it? Just because he swings a club doesn't mean he knows what he's doing.
A reasonable question, given everything else...
All his score cards and handicap postings are sealed
Hell, shouldn't he be in the GHIN system? http://www.ghin.com/
Ain't no flies on Nicky laus. eeee.
his score isn't available, but going by the accounts of how long he takes to play 18 holes, or how many holes he manages to get in in a full-day outing, he sucks.
Most who golf regularly should be able to finish up a course in less time than what Obama is reportedly taking.
O'Bama's golf score is a national security secret. His approval rating would depreciate to zero if we knew the truth.
Well that figures, in golf it's all about getting a good lie.
FM:
I gave u a reddie 'cuz u can't really think that a (guy) who throws like a (girl) can actually make a small white ball go several thousand yards with his very own athletic ability?
But, otoh, maybe dem "cigarz" are made of different herbal components? perhaps imported from Boulder?
- Ned
"can actually make a small white ball go several thousand yards..."
Hittin' whitey like dat proly give him a real hard on.
Oh, and bigotry be perfectly OK when yo' ass is black.
actually, he ain't much good at lying...he keeps getting busted out.
...or take one up the hershey highway!
Jobs and Duty will be the next cry , set in a fascist , fundamentalist social context .
This society has nearly exhausted its reserves .
See
http://andreswhy.blogspot.com/2008/09/job-and-duty.html
Love the "wages and salaries" graph, but as everything these days you really want to subtract off the top 1% or so, and then the resulting graphs are much, much worse. Whereas if you did that same thing thirty years ago, it would have virtually no effect at all.
Of course we must make the "hedonic adjustments", so what's the value of ebola?
Well if your some hack retired Government puck life has been great under this dope. Having said that I wouldn't recommend going to the hospital anytime soon as that's where Ground Zero is for The Outbreak.
The "Choom Lord" appears to be the Chum Lord now.
I find it interesting that no one in Illinois wants to be even seen with the guy...or his wife. Did he fly into Gary, Indiana on purpose? That's the home to the largest steel mill (former) in the world.
Home of the Jackson 5.
Go ahead...ask the folks from Gary how the economic recovery is going.
Just do it during daylight hours...
On a busy street while sitting in your car, in gear, foot on the throttle.
Better yet, don't
Best idea is to send somebody to do it for you
Whom you truly despise
Okay, sure...let's be hyper selective and just focus on these graphs above that are going down. Pay no attention to the graphs for Obama Phones, EBT cards, and Rounds of Golf Played, which are all text book hockey stick successes.
HATERS....
It's an affirmative recovery like his educational degrees.
Oh, you get one for participating?
Most didn't show up.
Look at that drop in business equity !!!.....funny how I started in 1993 and will be finished in 2015.....these fuckers should be hanged.
I started in 1983 and sold out 4 years ago. I will never again earn or create a taxable income.
" You didn't create that business "
Obama works for the rich
That is why so many in the 1% voted for him.
Recovery? At the park where I live, there use to be plenty of picnic tables for everyone to sleep on.
Now there's a 3 month waiting list
The Emperor of California has decreed that none shall produce, distribute or consume grocery bags. As of January. Not kidding. His Lunacy probably didn't consider the implications of this and after 1-2 years with no TP or mouthwash will double down & regulate purchase of State bags from licensed State bag dealers.
Long grocery bags. Short California government.
That Obola photo never gets old.
Which? The one of him hanging upside down from the rafters?
That one too
Here is to the Classics:
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Stolen from someone here....
That one never gets old either.
Yes, it reveals his true character.
He's done such a great job he should be promoted to "branch manager!"
Type "A" personalities make great fighter pilots too. Like his cousin George. He's too old now though, but he could air-drop medical supplies, food and weapons to ISIS in a C-123 in a remake of Air Amerika.
According to the jobs graph, we've been out of recession since 2009.
Where have I been?!
Government can cause more harm to an economy than good, through over regulation and taxation. But it kills me when anyone attributed a good economy to a politician or political party. If these nitwits really controlled the economy, then I ask, why would either political party allow a recession to take place, lest they not be reelected. They need to try to stay out of the way as much as possible, just be the referee, applying the rules we all agree upon (enforce contracts, keep criminals locked up, etc..) and let all of us regular folk perform our free market magic. But of course, I am just dreaming. Nothing like the referee being bought and paid for by every special interest group that can get them elected or ply them with the most money when they leave government.
"The horror, the horror..."
Dude should stay home or go golfing. Students don't watch TV.
The only way to hold the president accountable is to elect a Republican. Yes I know they play for the same team, but the F-King MSM didn't get the memo.
Wouldn't you love to have the MSM go after Obola like they did Bush? Just once?
first of all, in order to make these charts meaningful the top 1% of income earners and asset owners need to be excluded oe seperated into their own graph. as many people have argued, depending upon where one lives, a quarter million bucks/year is a lot of money but it isn't that much money. i think 10% extends to less than 100 grand/year, peanuts.
the decline over time began with the internet bubble collapse and the banking collapse was another knockdown 8 count. to be fair, shrub's recovery from the internet bubble bursting, a much less severe jolt than the real estate bubble, was about the same as obama's recovery from the banking bubble bursting albeit from a much lower baseline.
the fact is, and there were a lot of economists who suggested it early on, the moola helicopters should have been deployed as soon as the banking system was stabilized(regardless of how criminally they stabilized it). damn the inflation full speed ahead, a little wagner and the ride of the valkyries, a fleet of black helicopters and we are smelling victory.
Ol Miss rallies, upsets Bama.
No, the real 'BAMA.
Not that cocksuker.
My buddy just put his house up for sale and moved out in one week to a rental unit. Said his wife lost her well-paying job [in the private sector] and his salary is frozen at work [also in the private sector]. Three teenagers and a whopping $21,000 property tax bill due in November.
I'm seeing more and more of this; formerly solid Middle Class peeples slipping down the ladder in the private sector due to "layoffs" "cutbacks" "wage freezes" and so on ... all while food, insurance [health and property], tuition, utlities, etc keep soaring higher not every year, but every month. Same time, people see their savings decimated by this inflation while they get raped with 0.01% yield.
I guess the folks of in places like Bethesda and Arlington have it pretty sweet with all those Gubmint contracts and Federal jobs. However, I know the Middle Class private sector is getting punked pretty hard.
Barry is out of touch with a huge portion of Middle Americans.
Suggest telling those young lads to "aim small, miss small".
I agree with everything in your post but I caution you to remember that politicians do not create jobs. The only thing they do is tax and regulate so it would be more accurate to say that politicians may LET you have a job. They may let you have privileges such as a driver's license which you still have to pay for. There may be an appearance of middle class but what it really is one huge shitpile of debt. Who are we kidding here?
As for that $21000 tax bill? Due in November? What the fuck state does your buddy live in? You can fight the bastards and I have been doing so all week over my property in Wisconsin that is for sale. You want to talk about a run around? Without getting to the specifics, all I want to know is what the law is about why my property taxes are so high. No one can tell me what the law is and I keep getting referred to some other asshole. I have even contacted three law offices and they can't tell me anything of value either. I think I have cause of action against the state and if I do I will have to do it myself.
For your friend, you should ask him who determined the valuation of the property and proceed from that point. Here in flyover land, you have two choices, either contact the assessor or attend what is called open book. There are rules for attending open book so make sure he knows that you just don't walk in and bitch. What are similar properties valuations? Have that information on-hand. It is like going to court. I called for reassessment and won that one but it took over a year to do so.
The Douchebomber-in-Chief has nothing to do with property taxes. If you look into the matter, as I have, you will find that your neighbors are the ones fucking you, or your friend, up the ass with a dry Iowa corncob. These people need to be confronted and asked what the fuck they think they are doing but you have to do it in a nice way. Sometimes they will back down but it is up to whom ever is contesting the situation to make that happen. Call these people and ask what the fuck is going on. They don't know anything and make sure that you do know what is going on. Ask them what they think they are doing. Ask them what the law is and be prepared to play the old "Pass the Buck" game.
Fuck them, keep on calling them. They don't have anything else to do anyway besides fuck around on FaceFuck, drink taxpayer funded coffee and eat taxpayer funded donuts all day long so that we can have some more fat assed women in this country at taxpayer expense.
You could have just used some old WW2 photos of SS Death Camps.
Obama is failing exactly as planned. In the pipe (down) five by five.
It seems like stating the obvious, but the only thing he has going for him is that he's a very convincing LIAR. He lies about everything and the sheeple eat it up-but after 6 years of repeated lies, corruption, abuse of power and failed policies (both foreign and domestic) even the dumb masses are beginning to see the truth.
It seems like stating the obvious, but the only thing he has going for him is that he's a very convincing LIAR. He lies about everything and the sheeple eat it up-but after 6 years of repeated lies, corruption, abuse of power and failed policies (both foreign and domestic) even the dumb masses are beginning to see the truth.
Well all liar in chief obamy needs to do to save the day is to send some navy "corpse-man" after all those "eboly" viruses.
Weaponised ebola smacks of digital technology and epidemics.
All hail the new iBola.
Hurray and get some. The line is already forming.
They're charts not fucking pictures.
One sure fire trigger for collapse wouldbe the election of a Republican as President in '16. The only thing keepign the current nonsense afloat is the uniform support for Obama in the MSM. If there is no D in the WH, negative coverage willbe the order of the day. Result: disaster.