We are 16 months into the presidency of Barack Hussein Obama or as I call him the Viceroy of the Global Progressive-Islamic Axis of these Progressive Occupied States. He promised that if the stimulus was implemented, our economy would boom. In the beginning of this year some economic signs showed an uptick. Immediately the Progressive Propaganda media declared an economic boom of historic proportions. As we know reality set in and that uptick was just a mirage. In fact his policies have been job killers since his stimulus was really a hand out to unions, state governments and Unions. The Stock Market was artificially going up due to investors buying into the Obama boom lie. Now it is reiterating and repeating a pattern seen during the great depression. In short Obama’s 3rd World style policies have failed and put us deeper in debt and has put this nation at risk for more economic stagnation.
Roughly a million Americans have dropped out of the jobs market altogether over the past two months. That is the only reason why the headline unemployment rate is not exploding to a post-war high.
Let us be honest. The US is still trapped in depression a full 18 months into zero interest rates, quantitative easing (QE), and fiscal stimulus that has pushed the budget deficit above 10pc of GDP.
The share of the US working-age population with jobs in June actually fell from 58.7pc to 58.5pc. This is the real stress indicator. The ratio was 63pc three years ago. Eight million jobs have been lost.
The average time needed to find a job has risen to a record 35.2 weeks. Nothing like this has been seen before in the post-war era. Jeff Weninger, of Harris Private Bank, said this compares with a peak of 21.2 weeks in the Volcker recession of the early 1980s.
“Legions of individuals have been left with stale skills, and little prospect of finding meaningful work, and benefits that are being exhausted. By our math the crop of people who are unemployed but not receiving a check amounts to 9.2m.”
Republicans on Capitol Hill are filibustering a bill to extend the dole for up to 1.2m jobless facing an imminent cut-off. Dean Heller from Vermont called them “hobos”. This really is starting to feel like 1932.
Read the rest: With the US trapped in depression, this really is starting to feel like 1932
The mirage of the much hyped Obama Boom is over. Welcome to the cold reality of the Obama stagnation at best, depression at worst. Barack Hussein Obama is really turning this nation into 3rd world status. Then again, this was probably the plan all along.
