Economic Report Card - Fail

Tyler Durden's picture




 

From Jim Quinn of The Burning Platform

Economic Report Card - Fail

We are now three and one half years into Barack Obama’s presidency. I thought a few pertinent charts would help us assess the success of his economic policies. Upon his election he demanded an $800 billion stimulus package in order to keep the unemployment rate from surpassing 8%. The $800 billion was to be spent over two years we were told and then government spending would be scaled back to pre-stimulus levels. There were 145 million Americans employed when Obama was elected. There are 9 million more working age Americans today than there were in 2008. There are now 142.4 million employed Americans. So, we’ve added 9 million potential workers and still have 2.6 less Americans employed. We have the same number of Americans employed as we did in early 2006, when there were 17 million less working age Americans.

The Obama stimulus plan was passed with everything he wanted. Democrats controlled the House and Senate and gave him exactly what he proposed. By October 2009, the unemployment rate was 10%. Obama’s stimulus package and economic policies have been so successful that he has been able to get the unemployment rate all the way down to 8.2% after three and one half years, even though he said his stimulus package would keep the unemployment rate under 8%. And all it took to get the unemployment rate down to 8.2% was for 8 MILLION Americans to leave the labor force. A critical thinking person who doesn’t swallow the crap peddled by the BLS and the rest of the government propaganda machine might question WHY 8 million Americans would leave the workforce when people desperately need income. If the labor participation rate had stayed constant, the current unemployment rate is 10.9%.

070612rbjune

The long-term chart below tells the true story. The BLS classifying millions as not in the labor force is a crock. The Obama apologists and sycophants peddle a false storyline about Baby Boomers retiring as the cause for this labor force decline. The fact is people over the age of 55 have the highest participation rate in history and it continues to rise. Of the 142.4 million employed Americans, only 114 million works more than 35 hours per week, with 28.4 million working part-time. That means that 20% of those employed are part time workers with no benefits. In 2008, prior to the ascendency of Obama, there were 125 million full-time workers and 20 million part-time workers. Obama has been able to increase the percentage of part-time workers from 14% to 20% in just over 3 years. Remember this fact when Obama touts the 3 million new jobs he’s created since 2010.

If you were wondering what the 8.5 million Americans who have left the labor force since 2008 were doing, look no further than the millions of bedrooms now functioning as classrooms for the University of Phoenix and the other on-line, for profit diploma mills that have proliferated with the doling out of hundreds of billions in cheap government student loans. These for profit diploma mills know how to game the system and get their money even if the students drop out after a few months. They educate 12% of students, receive 25% of federal student aid and account for nearly 50% of loan defaults. Sounds like a great business model.

Low interest Federal government loans have skyrocketed from $100 billion when Obama took office to $450 billion today. Total student loan debt has surpassed $1 trillion, with the average student graduating with $25,000 of debt and many more burdened with $100,000 or more of debt. Those part-time jobs making lattes at Starbucks aren’t cutting it. Default rates are already at a ten year high and are poised to skyrocket as more people graduate into a jobless job market. Not only is the American taxpayer on the hook for the $450 billion of direct Federal student loans, but the Federal government is guaranteeing another $450 billion. When the student loan bubble pops, the taxpayer financed bailout will be epic. And this is all being engineered by the Obama administration in order to artificially reduce the unemployment rate. Does this graph remind you of another bubble that resulted in a few problems for the American taxpayer?

After three and a half years, Obama’s policies have led to 11 million less full-time workers and 8 million more part-time workers – just like he drew it up on the board when he committed $800 billion of your tax dollars to saving our economy through classic Keynesianism. Obama declared the stimulus would be a two year jolt to get our economy back on track. Federal government spending was $2.7 trillion in 2006, $2.7 trillion in 2007 and $3.0 trillion in 2008, the last three years of Bush’s administration. If spending stayed on a standard trajectory, it would have been $3.1 trillion in 2009, $3.2 trillion in 2010, $3.3 trillion in 2011 and $3.4 trillion in 2012. With the end of the Iraq occupation in 2010, it should have dropped by $200 billion, resulting in total spending of $3.1 trillion in 2011 and $3.2 trillion in 2012.

Obama declared the stimulus would be short-term. Federal government spending should have risen to $3.5 trillion in 2009, $3.6 trillion in 2010 ($300 billion stimulus – $200 billion Iraq withdrawal), and then revert back to $3.3 trillion in 2011 and $3.4 trillion in 2012. Let’s see whether Obama was honest in his promises:

Federal Government Spending

2009 – $3.5 trillion

2010 – $3.5 trillion

2011 – $3.6 trillion

2012 – $3.8 trillion

After three and one half years of stimulus spending, Cash for Clunkers, Home Buyer Tax Credits, mortgage modification programs, Fannie, Freddie & FHA accumulating billions in bank losses, zero interest rates, QE1, QE2, Operation Twist, unlimited student loans, wars of choice in the Middle East, mark to fantasy accounting standards for Wall Street, and hundreds of billions in bonuses for criminal bankers, we are left with a $5.3 trillion (50% increase) higher national debt and a $300 billion (2.3% increase) higher real GDP. That’s not exactly a big bang for your Keynesian buck. The response you will get from the Obama apologists is, “Imagine how bad it would have been if we didn’t spend the money”. This is a classic liberal response when their solutions are a total failure. Krugman will declare that if we had only spent another $2 trillion all would be well.

As you can see, Obama and all the politicians in Washington DC are really good at spending your money on pork projects, paying off campaign contributors and compensating their corporate cronies. Do you see any reversion back to normalized spending? How can current spending be $300 billion higher than the two stimulus years if Obama was telling the truth in 2009? The Obamanistas declare we are still in an emergency and must borrow and spend to save the economy. The emergency never ends for politicians of both parties. This is how they have bastardized John Maynard Keynes’ theory. They love to implement spending when the economy is in the dumper, but they forget his admonition to pay down debt during the good times. It never happens. There will always be another emergency. Even 2nd grade level Sesame Street fans can see the Federal government spending and debt accumulation never reverses. It couldn’t be any more obvious, unless you are an intellectually dishonest Keynesian ideologue hack (aka Krugman).

This brings us to the crowning economic achievement of the Obama administration. His most successful program is unequivocally the SNAP food stamp program. When Obama assumed power in January 2009 there were 32 million Americans on food stamps and the annual cost of the program was $44 billion. Today there are 46 million Americans on food stamps and the annual cost is pacing at $75 billion. He has been able to get fully 15% of the U.S. population enrolled in this fantastic program and the Department of Agriculture is even running advertisements to convince more people to join.

And don’t worry about any restrictions. You can buy as much soda, ice cream, cheetos, and fudge brownies with your SNAP card as you choose. Of course, you are still free to purchase higher end fare.

A cynical less trusting soul than me might even conclude that Obama’s goal is to provide government entitlements to as many people as possible in order to win votes in the upcoming election. One might ask how he can tout an economic recovery and the millions of “new” jobs he has created since 2010, when 6 million people have been added to the food stamp rolls since his economic recovery officially began in 2010. I’m confused by the Obama distinction between success and utter failure.

Not far behind the food stamp program, the SSDI program has been another resounding Obama success. He has been able to enroll twice as many participants in this program as jobs created since the end of the recession. There are already 10 million people on SSDI costing the American taxpayer in excess of $150 billion per year. There are 250,000 people per month applying for benefits and the program will be broke by 2015. In a shocking development, when people began to roll off the 99 week unemployment gravy train, the number of new SSDI applications soared. I guess they were depressed at not being able to collect unemployment for two more years.

Bob Adelman recently summed up the SSDI scam:

“The program, funded federally but administered by the states, is being milked by many who have run out of unemployment benefits and other resources and haven’t been able to find work. At present one out of every eight working-age, non-retired individuals receive disability payments, some for “mental disorders” and “back pain.” Claims for mental disorders, for instance, have more than tripled from 10 percent of cases in 1982 to 32.8 percent in 2012, with half of those based on “mood disorders” such as depression or anxiety. Back or neck “problems” have increased by 31 percent and were the top cause of disability for 50- to 64-year olds. Depression and anxiety and other emotional problems increased by 20 percent, and now constitute one-third of all disability claims. Once on the rolls, beneficiaries have little incentive to return to work because their disability entitles them to additional benefits such as food stamps, Medicaid, Section 8 housing, and student-loan forgiveness. As a result less than one half of one percent of those on disability ever go back to work.”

I’m depressed by the results of Obama’s economic policies. Maybe I should apply for SSDI.

It appears that former college professor Obama never paid attention in his macroeconomics undergraduate course. The “guns versus butter model” doesn’t enter the equation for a profound thinker like Barack. Why do hard choices need to be made when Ben Bernanke is manning the printing press? In the real world, a nation has to choose between two options when spending its finite resources. It can buy either guns (invest in defense/military) or butter (invest in production of goods), or a combination of both. This can be seen as an analogy for choices between defense and civilian spending in more complex economies. Politicians and bankers have been ignoring this rational model since 1971 when Nixon closed the gold window. Why make difficult choices when you can borrow and print your way to prosperity? As a country we’ve chosen guns, butter, BMWs, McMansions, free unfunded healthcare, unfunded pensions, unfunded sickcare, and DHS implemented security for all. In order to prove himself tougher than George W., Obama, the socialist, has actually increased war spending by 23% to an all-time high. Fiat currency is an amazing invention. Guns, butter and healthcare for all.

Mainstream media liberals like Ezra Klein dutifully trot out charts and storylines trying to convince the ignorant masses that Obama is not to blame for the soaring national debt. They declare it was the Bush tax cuts and his wars. This blame Bush storyline is growing old as Obama has already extended the Bush tax cuts once, ramped up wars in the Middle East and cut payroll taxes for the last two years. The Office of Management and Budget has calculated the total increase in the national debt will be $7.8 trillion after eight years of Obama, 269% more than was accumulated during the Bush reign of error. I believe the $7.8 trillion is ridiculously optimistic. The national debt has increased by $5.3 trillion since Obama took office. It will go up another $200 billion by the end of this fiscal year. It will surely exceed $1 trillion per year during a 2nd Obama term as he would extend most of the Bush tax cuts, extend the payroll tax cuts, continue to increase war spending, and the hidden delayed Obamacare costs would arrive. His eight year report card will show a $9.5 trillion increase in the national debt, reaching the magic grand total of $20 trillion. The national debt to GDP ratio will be close to 120%.

This scathing assessment of Obama’s economic policies is by no means an endorsement of Mitt Romney or his economic plan, since he has never provided a detailed economic plan. After four years of a Romney presidency, the national debt will also be $20 trillion as his war with Iran and handouts to his Wall Street brethren replace Obama’s food stamps and entitlement pork. There was only one presidential candidate whose proposals would have placed this country back on a sustainable path. The plutocracy controlled corporate mainstream media did their part in ignoring and then scorning Ron Paul during his truth telling campaign. The plutocracy wants to retain their wealth and power, while the willfully ignorant masses don’t want to think. The words of Ron Paul sum up what will occur over the coming years as the interchangeable pieces of this corporate fascist farce drive the country to ruin:

“Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers.”

“A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank.”

“Believe me, the next step is a currency crisis because there will be a rejection of the dollar, the rejection of the dollar is a big, big event, and then your personal liberties are going to be severely threatened.”

 

The politicians, bankers and corporate titans running this country are too corrupt and cowardly to reverse the course on our path to destruction. The debt will continue to accumulate until our Minsky Moment. At that point the U.S. dollar will be rejected and chaos will reign. The Great American Empire will be no more. At that time sides will need to be chosen and blood will begin to spill. Decades of bad decisions, corruption, cowardice, ignorance, greed and sloth will come to a head. The verdict of history will not be kind to the once great American Empire.

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Sun, 07/08/2012 - 23:19 | 2597736 DavidPierre
DavidPierre's picture

SmokeyQuinn’s 9/11 Report CardFAIL

-  A crib sheet of cut-n-paste charts and graphs telling the same sad and sorry story about shit we already know.

- Mainstream Blog Morons, like Quinn, dutifully trot out other peoples charts and storylines trying to convince the ignorant masses that money is all that matters.

-  A cynical, less trusting soul might even conclude that Quinn’s goal is to parrot government bullshit to as many people as possible.

- At this time sides have already been chosen and blood spilled.

- The verdict of history will not be kind to the Mighty(Moron)Quinn.

-  ELMO can’t make it any more obvious.

9/11 Is the LitmusTest

http://www.youtube.com/watch?v=AVY-iQDO8pg

Sun, 07/08/2012 - 23:29 | 2597766 Yardfarmer
Yardfarmer's picture

Indeed, Wharton's Quinn is an establishment hack and an obvious and transparent agent of misdirection and just plain boring.

University of Pennsylvania, Wharton School of Finance & Commerce Founded by Eric Trist One of the "brain trusts" of Tavistock, Wharton has become one of the more important Tavistock in so far as "Behavioral Research" is concerned. Wharton attracts clients such as the U.S. Department of Labor---which teaches how to produce "cooked" statistics at the Wharton Econometric Forecasting Associates Incorporated. This method was very much in demand as we came to the close of 1991 with millions more out of work than was reflected in USDL statistics. Wharton's ECONOMETRIC MODELING is used by every major Committee of 300 company in the United States, Western Europe, the International Monetary Fund, the United Nations, and the World Bank. Institute for Social Research Among its clients are The Ford Foundation, U.S.Department of Defense, U.S.Postal Service and the U.S. Department of Justice. Among its studies are "The Human Meaning Of Social Change", "Youth in Transition" and "How Americans View Their Mental Health

Mon, 07/09/2012 - 00:34 | 2597874 DavidPierre
DavidPierre's picture

Jim Willie has big Brass Balls and reports both macro-economic and political insights that are worth the time and effort to read and understand.

It is time to send SmokeyQuinn to Leo K. Land on ZH.

SmokeyQuinn is another of the many castrato bloggers, fat ass sopranos; full throat sound and fury: signifying nothing. 

 


 

Mon, 07/09/2012 - 00:53 | 2597910 Zionist Jew
Zionist Jew's picture

You're too hard on Jim.  He serves a valuable purpose herding together the 'fake awake' into a pseudo new paradigm, all the while maintaining their dependence on a corrupt system they pretend to abhor.

 

We planned for every contingency, and as Stalin said "The best way to control dissent is to lead it."  Why do you think Dylan Avery's "Loose Change" and Alex Jones are at the forefront of the supposed "Truth Movement"?  HAHA!

 

Nobody talks about my fellow tribesmen caught exploding a truck on King St., or caught trying to blow up the GW bridge.  Chertoff just released em, and Jane Harman shitcanned the investigation.

Mon, 07/09/2012 - 01:11 | 2597923 DavidPierre
DavidPierre's picture

SmokeyQuinn is my best ever, long time buddy.

Why he is one of the finest phonies you'll ever meat on the web.

Where would we be if not for his gratuitous articles and stupid replies?

You can never be too hard on Jim.

He likes it that way.

 

Mon, 07/09/2012 - 01:31 | 2597940 Hugh G Rection
Mon, 07/09/2012 - 01:38 | 2597947 Michael
Michael's picture

I'm still voting for Obama.

Mon, 07/09/2012 - 02:25 | 2597986 uhb
uhb's picture

Well Michael,

every country has the government it DESERVES!

(written in the 30's concerning germany... but it fits, doesnt it?)

Mon, 07/09/2012 - 06:08 | 2598099 GetZeeGold
GetZeeGold's picture

 

 

Jimmy Carter is still eligible for another term.......bring that crazy cracker back I'm thinking.

 

Now where did I put that industrial sized sarc button?

 

Mon, 07/09/2012 - 06:13 | 2598101 overmedicatedun...
overmedicatedundersexed's picture

the power to brain wash a population has so many more tools than in the past. If Hitler had the same tech we would all be speaking german.

there are simple solutions to the problems America has. it is of course constantly repeated that these problems are not solvable, too complex, too many people for the jobs available , or the funny one about running outta energy.

no the unstated problem is: the current corrupt elite's wealth and power cannot be maintained and also solve the economic and social problems of America.

The elite must pay for their sins..in wealth and blood before the system can restore balance here in America.

the rest of the world is not our problem is the first thing to understand.

Mon, 07/09/2012 - 08:02 | 2598238 Treeplanter
Treeplanter's picture

It's in the cigar box with your hash pipe and rolling papers.

Mon, 07/09/2012 - 02:40 | 2598003 Skateboarder
Skateboarder's picture

I wonder if he can borrow enough in the next term to outdo the sum of all prior debts including that of his first term, i.e. the fastest debt ever accumulated. I also wonder how many more times the debt ceiling can/will be raised.

Mon, 07/09/2012 - 06:46 | 2598145 skipjack
skipjack's picture

If I don't vote for Vermin Supreme, I'm voting for Obamster, as soul-crushing as that is...rather a few more crumbs fall to "the people" rather than have them all strewn under the feet of the criminal banksters.

Mon, 07/09/2012 - 02:00 | 2597960 Zionist Jew
Zionist Jew's picture

Very True.

"You don't have to be a Jew to be a Zionist.. I AM a Zionist."  - Joe Biden

Mon, 07/09/2012 - 07:35 | 2598189 Jim Quinn
Jim Quinn's picture

Posting under David Pierre and then answering yourself as your other alias- Yardfarmer isn't really crazy. Keep telling yourself that. Do you have conversations with yourself too? Or do the voices in your head drown out everything?

Mental illness is a disease.

Mon, 07/09/2012 - 13:11 | 2599021 DavidPierre
DavidPierre's picture

Aw... Castrato Fat Man is projecting again.

You're the one who got shit canned by your previous webmaster for doing exactly that.

Well guess what, MORON, you are wrong again.

Confront the facts head on.

Quit with your wet pussy responses.

 

 

 

 

Sun, 07/08/2012 - 23:33 | 2597786 El Oregonian
El Oregonian's picture

.word..

Mon, 07/09/2012 - 06:31 | 2598119 GetZeeGold
GetZeeGold's picture

 

 

Your message comes with the Nancy Pelosi seal of approval.

 

http://www.youtube.com/watch?v=eSko2ixEB8U

 

Sun, 07/08/2012 - 23:55 | 2597827 cbxer55
cbxer55's picture

Can we have a Jim Quinn article without david POO-POO putting in his irrelevant two cents.

Mon, 07/09/2012 - 03:19 | 2598029 r00t61
r00t61's picture

Quinn's article gets posted at 23:10.

Somehow, DP gets through all 2,500 words of it, and posts his own response, in the span of 9 minutes, at 23:19.

That's a thing that makes you go hmmm...

Mon, 07/09/2012 - 06:34 | 2598123 nmewn
nmewn's picture

Quite the noticable coincidence on every Quinn post...why,its almost as if they were one and the same ;-)

Mon, 07/09/2012 - 07:57 | 2598225 Jim Quinn
Jim Quinn's picture

Momma always said, "crazy is as crazy does".

Mon, 07/09/2012 - 11:31 | 2598732 Hugh G Rection
Hugh G Rection's picture

I bet she still tells you that to this day.

"Oh Jimmy, use the crayolas I bought you, don't fingerpaint the walls with your poopy!  Crazy is as crazy does."

Sun, 07/08/2012 - 23:58 | 2597829 Hugh G Rection
Hugh G Rection's picture

Pole Smokin Quinn,

 

Can you do an article explaining how 19 Arabs with boxcutters, commanded by a guy on dialysis in a cave made NORAD stand down, and knocked down 3 skyscrapers with 2 Planes?  While you're at it explain what happened to the $2.3 Trillion Rumsfeld announced missing from the Pentagon the day before Hanjour piloted a hijacked plane in a 270degree corkscrew descending turn to hit the Pentagon flush in the budget analysts office, killing all the DOD staffers working on that mystery.

 

Dem Moozlims Hats R Freedumbs!

http://www.youtube.com/watch?v=yuC_4mGTs98

Mon, 07/09/2012 - 00:10 | 2597861 Zionist Jew
Zionist Jew's picture

It was a  Mossad false flag.. Happy now?

Get over it.  The majority of the Goy are so entrenched in the narcissism of their mundane lives they don't give a shit about macro events.  We control your politicians through AIPAC.  We own your media.  We run the FED.  We own Hollywood.  You can cry about 9/11 all day long, it wont make a difference.

 

Nice avatar BTW, comrade Chertoff was a very strategic appointment...hehe

Mon, 07/09/2012 - 00:47 | 2597902 FeralSerf
FeralSerf's picture

It's easy to explain.  Moozlims are vastly superior to ordinary people.   They are the master race (this is the reason the Jooze, who have been trying to convince everyone they're the master race is pissed at them).  Moozlims, compared to ordinary people, are like Superman compared to Geico's Cave man.  Some people, after observing Moozlims, may think this is in error since they don't appear to be so superior.   Don't be fooled.  They are also amazingly adept at covering up their superiority until it is needed.

Mon, 07/09/2012 - 00:55 | 2597915 Zionist Jew
Zionist Jew's picture

That explains flying carpets..

Tue, 07/10/2012 - 13:14 | 2602684 FeralSerf
FeralSerf's picture

Moozlims are so superior to everyone else that it only took 19 of them, armed only with box cutters, to bring the world's only remaining superpower to its knees.  The resulting pandemonium cost that superpower at least $6 trillion and thousands of lives.  Not bad for only 19 of them, eh?

Mon, 07/09/2012 - 01:58 | 2597959 OmNamah
OmNamah's picture

This has been now repeated ad-nauseaum on un-employment and state of US economy....markets think much ahead of these spins....we are about to start the greatest bull market in equities but without any participation:)...bcos u need someone to hold the bag in the end....

Keep up the good work...dedicated to art of speculation 

www.bubbleshort.blogspot.in

Mon, 07/09/2012 - 06:29 | 2598118 sabra1
sabra1's picture

hey DavidPierre! did you realize that your initials DP, stand for Deep Penetration, or, Double Penetration? A-Hole!!!

Mon, 07/09/2012 - 06:38 | 2598131 Jim Quinn
Jim Quinn's picture

Off your meds again I see.

Mon, 07/09/2012 - 10:21 | 2598568 Hugh G Rection
Hugh G Rection's picture

Yea, some of us still refuse to take the blue pill.

Ever seen Trading Places? I'd rather take Aaron Russo's word over a self-important douchebag blogger.

"9/11 was a lie and the War on Terror is a farce."

http://www.youtube.com/watch?v=LxC9lrLEVNI

Mon, 07/09/2012 - 12:30 | 2598871 Jim Quinn
Jim Quinn's picture

Using your 3rd alias I see.

You're crazier than a shithouse rat.

 

Sun, 07/08/2012 - 23:19 | 2597751 TrainWreck1
TrainWreck1's picture

Elmo is a hater.

Obama is operating at some higher level that none of us can comprehend.

He is Harvard's finest.

 

Sun, 07/08/2012 - 23:22 | 2597761 Savyindallas
Savyindallas's picture

Ha ha -funny. for a moment I thought you were serious. ---Isn't "Harvard's finest" an oxymoron?

Sun, 07/08/2012 - 23:36 | 2597797 New_Meat
New_Meat's picture

Havhad--their best is none too good at what they claim to do. - Ned

Mon, 07/09/2012 - 06:34 | 2598125 GetZeeGold
GetZeeGold's picture

 

 

Our best should be taken at our word.....cause we won't be releasing the transcripts.

Mon, 07/09/2012 - 00:21 | 2597877 ghenny
ghenny's picture

 



Obama like Franklin Roosevelt is actually helping to keep our crooked system alive by trying to change it just enough so we don't face economic disaster and revolution. Republican and Libertarian fools seem to want to look a gift horse in the mouth.

"Obama saved those fools from their buddy George Bush and his borrow and spend binge with unpaid for drugs for seniors and two wars on the credit card along with no supervision of the banksters and real estate crooks. Sure Clinton got rid of Glass Stegal but the trade-off was supervision and it did not happen under Bush/Cheney/Greenspan. Of course all this started with Reagan and his huge budge deficits to pay for a mega arms buildup while cutting taxes in a way that Eisenhower would have considered criminal. David Stockman can tell you all about that. He can also tell you all about the crony deals done to benefit the Bush/Cheney family friends in the arms and oil business.

Every study shows we are better off economically under Democratic Presidents but you loons still vote for the Republican bozos who don't understand economics or understand how to cheat the "free enterprise" system which they hate because they fear true meritocracy and are the masters of "crony capitalism". I will take plenty of criticism of the Democrats ref Public Labor Unions and crooked public works projects but at least most of the time they tax us to pay for their baloney. The Republicans just borrow and cut taxes. Clinton left us with surpluses as far as the eye could see and that loser business failure dady/Rainwater supported Bush squandered it all like he did all that Saudi Bin Laden money that paid for his playing at being an oil man (that of course is why he got the Bin Ladens out of the country and never took out Osama).

Obama did take out Osama and inherited a once in a century meltdown and kept us afloat in the teeth of Republican obstruction. 8.2 % unemployment is not good but its a whole lot better than 10 or 11% or higher which is what the Bush screw ups gave us. Without the balance sheets expansions and the deficit financing we would have 25% core unemployment, especilly since the Republicans refuse to allow the rich to be taxed even though they have taken home the lions share of all income and wealth generated in the last 20 years while for the most part skimming it by financial manipulaton rather than truly earning it. 

I know a lot of those turkeys because I grew up with them and I am a member of the privileged patrician class. Most of them are cheats and crooks to the core who feel entitled and don't give a f.... about ordinary Americans. In fact they feel they have a hereditary right to live better for the next upteenth generations. Go figure. In my view they are the true traitors in this country since they troll for wealth around the world and outsource American jobs whenever they can to stay on top. Then they scream when a Berni Madoff fleeces them by offering them new ways to cheat the system that are too good to be true and expect the feds to bail them out.

I know how they use corporate transfer pricing to avoid paying taxes and stash cash in offshore accounts and purchase politicians to write loopholes to contribute nothing to the general well being. I know how they use asset stripping to hollow out viable companis and pretend they are business builders. Romney is a prime example. He never came across a struggling company he did not figure out how to screw out of their cashflow like Gordon Gekko. He never created a product or a valuable service that would benefit ordinary people and now he is helping his sons to do the same. His father George would be horrified. Sure the Democrats help the Unions but its small potatoes compared to these guys.

What I fault Obama for is he has not prosecuted the banksters and other corporate crooks on a scale needed because he is trying to be a moderate. He did not fight for a single payer healthcare sysem because he deludes himself that healthcare can use market forces to bring down costs. No chance. His plan, Romney's plan and Ryans plan are ridled with corrupt crony protections for healthcare oligopolies and yes I know all about that too since I played in that space for awhile in my career. You ain't seen nothing until you observe health insurance companies, pharmaceutical companies and crooked medical supply companies and Medicare mills with crooked doctors and their business handlers rip off schemes. They are epic."



Mon, 07/09/2012 - 01:12 | 2597926 Mr. Fix
Mr. Fix's picture

Moron

Mon, 07/09/2012 - 06:23 | 2598112 GetZeeGold
GetZeeGold's picture

 

 

Dude....go easy. He just has a Koolaid addiction.

 

It could be be you someday.......well OK......probably not.

 

Mon, 07/09/2012 - 03:58 | 2598050 SeattleBruce
SeattleBruce's picture

"Every study shows we are better off economically under Democratic Presidents but you loons still vote for the Republican bozos who don't understand economics"

Ahhhh...still playing the blue-red game...TILT...try again...by the way, why do you use the phrase 'under' here?  I think it reveals much about your mindset.  How's that serfdom thing workin' out for ya?

Mon, 07/09/2012 - 03:43 | 2598044 natty light
natty light's picture

And a muppet to boot.

Mon, 07/09/2012 - 06:36 | 2598127 GetZeeGold
GetZeeGold's picture

 

 

Never let a Muppet go to waste.

 

Sun, 07/08/2012 - 23:20 | 2597754 Savyindallas
Savyindallas's picture

And Republicans were too stupid to figure out Ron Paul was the only candidate that was right. I've been a Reoublican activist for 20 years - although I've voted third party the last three general elections. Most republicans are ignorant, stupid fools--no better than Democrats. Most of thee morons only care about gay rights, Israel and abortion. If they want to see the best case for legalized abortion   -all they have to do is look in the mirror.

Sun, 07/08/2012 - 23:46 | 2597811 New_Meat
New_Meat's picture

"And Republicans were too stupid to figure out Ron Paul was the only candidate that was right."

I've said it before, RP, with or without his message, did not (and as we look at it from today, could not) organize the broad base needed to get to the national level.  Fact.  {despite what we might think of that situation and the results for RP and his followers}

The article misses this point as well:

"The plutocracy controlled corporate mainstream media did their part in ignoring and then scorning Ron Paul during his truth telling campaign...."

They ignored both RP and a tiny little piglet for the same reasons: we couldn't be compelling to their masters sufficiently (in all respects) to break through the many barriers.  'course, I was perfecting my beef and chicken bbq recipies, so couldn't be bothered.

The whiny victim card, "I'm going to take my ball and go home." doesn't help any of the situation.

So I gave the article a downer on that basis, some of the info was good but in the wrong perspective it doesn't help much.  Well, unless it is dis-info and trollizm.

- Ned

 

Mon, 07/09/2012 - 00:14 | 2597867 williambanzai7
williambanzai7's picture

I don't think it's stupidity, although that is a factor as well.

The establishment will not tolerate a candidate such as Ron Paul.

Sun, 07/08/2012 - 23:45 | 2597757 lasvegaspersona
lasvegaspersona's picture

the use of 'less' and 'fewer' seems to confuse even bright people.For things that can be pluralized, use the word fewer...oh hell just look it up..if you were raised by English speakers it should hurt your ears if someone gets it wrong. Shocking but I even hear them incorrectly used on NPR (not that I listen to NPR but someone has to monitor those guys.)

Mon, 07/09/2012 - 00:40 | 2597896 Midas
Midas's picture

OH shit, grammer nazi!

I got to agree with LVP though.  The local radio station plays a promo bragging about having less commercials.  I have a hard time letting it go, since the rule is pretty freaking easy to understand.  It does hurt my ears.

Sun, 07/08/2012 - 23:22 | 2597762 stant
stant's picture

you can spend them[ebt cards] at cabelas, you know huntin and fishing and such

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