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Posts Tagged ‘Obama Boom’

Obama Boom: Hard times will last

by Phantom Ace ( 9 Comments › )
Filed under Barack Obama, Economy, Headlines, Misery Index, unemployment at July 10th, 2011 - 6:26 pm

Useless tax dodger Treasury Secretary Timothy Geithner made a pathetic spin. He said hard times will last for a long time  for most Americans. Clearly this is the Obama Regime’s attempt to downplay their economic failures. They are pushing that this is the best things will be.

WASHINGTON (AP) — Treasury Secretary Timothy Geithner (GYT’-nur) says many Americans will face hard times for a long time to come.

He says President Barack Obama rescued the United States from a second Great Depression and will keep working to strengthen the economy. But Geithner says will be some time before many people feel like the country is recovering.

With a terrible economy, the Obama regime will spin the truth. They will run on Obama the symbol and not his policies.

Obama Boom: 9.2% Unemployment and only 18,000 jobs created in June

by Phantom Ace ( 153 Comments › )
Filed under Barack Obama, Cult of Obama, Democratic Party, Economy, Misery Index, Progressives, Socialism, unemployment at July 8th, 2011 - 11:30 am

After a series of not as bad economic news, the media was back to the Obama Boom hype. Wall Street has gained 800 points in the last week due to the hopes that the Obama Boom is finally on. Well as we all know, it was just media hype. Reality has once again exposed this false meme of the Obama Boom.

The June jobs report shows how anemic and stagnant the US economy is. Only 18,000 jobs were created for the month. The Private sector added an anemic 57,000 mostly low wage service jobs. Local governments have laid off 39,000 workers, due to budget reasons. Clearly, the economy is in trouble despite the media hype about an Obama Boom.

U.S. employment growth ground to a halt in June, with employers hiring the fewest number of workers in nine months, dampening hopes the economy was on the cusp of regaining momentum after stumbling in recent months.

Nonfarm payrolls rose only 18,000, the weakest reading since September, the Labor Department said on Friday, well below economists’ expectations for a 90,000 rise.

[…]

The unemployment rate climbed to 9.2 percent, the highest since December, from 9.1 percent in May.

The government revised April and May payrolls to show 44,000 fewer jobs created than previously reported. The report shattered expectations that the economy was starting to accelerate after a soft patch in the first half of the year.

Read the rest: Jobs Picture Gets Even Worse as Rate Swells to 9.2%

These so called economic experts have been predicting this 2nd half economic pickup for 3 years now. Hasn’t it sunk in their heads that 14 trillion dollars of debt holds down economic growth? Reality doesn’t matter to the Progressive propaganda media. It’s all about making the Obama regime look good.

The sad part is that economic conditions may not matter. Obama’s popularity is still in mid to upper 40’s despite the bad economy. Clearly many Americans love the man despite the bad jobs numbers. We are not dealing with a normal politician here. Obama is a symbol for Progressives. He is here to wash away America’s perceived sins they have been brought up to believe we have committed. This is why the Obama regime doesn’ty care about a bad economy. They will run on Obama the symbol, not what he has done. That’s why the GOP should focus on jobs and the economy.

Update: Here’s an example of the press not giving up on the Obama Boom theme.

Citigroup economist Steven Wieting, in a note, points out that the 1.5 percent GDP growth he expected for the second quarter would mean soft employment gains, but the report is at odds with the decline in weekly jobless claims; June’s private sector ADP report, which showed 157,000 jobs added, and employment gains in the recent ISM manufacturing data.

Chandler said he sticks to the premise that the setback in the recovery is temporary.

“Our idea that the U.S. economy was going to recover is based on three things—lower gas prices, lower interest rates and waning of the Japanese supply chain disruptions. Those things still seem to be there. I think the problem is that many of us will see weak employment meaning weak GDP. But Q1 saw better job growth than Q4 and yet the U.S. economy weakened form Q4 to Q1,” Chandler said.

The media’s faith in the Obama Regime is amazing.

The Media resurrecting the Obama Boom theme

by Phantom Ace ( 1 Comment › )
Filed under Barack Obama, Economy, Headlines, Media, Misery Index, Progressives, unemployment at June 30th, 2011 - 11:06 pm

Any little good economic news makes the media go crazy. They haven’t abandoned the Obama Boom theme. Wall Street had a rally this week during light trading. Some minor good economic news and the resolution of the Greek bailout pushed the markets up. On cue, the media proclaims the Obama Boom is on track!

(Reuters) – U.S. stocks ended a volatile quarter on Thursday with their biggest four-day rally since September as positive economic data and a temporary resolution of Greece’s debt crisis indicated further gains in July.

Midwest business activity showed surprising strength this month, lifted by a jump in new orders, the Institute for Supply Management-Chicago said. That helped calm concerns about the economy that have weighed on markets for two months.

Overseas, Greece’s parliament approved measures to implement budget cuts and assets sales, making Greece eligible for financial aid to avoid a debt default.

[….]

The index is up 4.1 percent so far this week, its best four-day rally since September 2010.

“The resolution in Greece allows us to throw away one more question mark, and as we do that we become more confident,” said Peter Andersen, portfolio manager at Congress Asset Management in Boston.

“Managers are also using the occasion to trim their cash positions at the midway point through the year, meaning we’ll start July 1 with optimism.”

The Obama Boom, can’t you feel it? The media is no better than what Pravda was during Soviet rule in Russia. They are lying and jumping on any news to promote the Obama Boom lie.

Obama Boom: Obama’s Morning again in America Strategy

by Phantom Ace ( 56 Comments › )
Filed under Barack Obama, Democratic Party, Economy, Elections 2012, Misery Index, Progressives, Republican Party, Socialism, unemployment at June 29th, 2011 - 8:30 am

Progressives who despised Ronald Reagan in the 1980’s now suddenly admire him. In fact, they compare their political messiah Barack Hussein Obama to Reagan. Like Reagan, they claim Obama was elected in a realignment election. They compare the Bush years to the Carter years. Progressives say like Regan, Obama inherited a weak economy and demoralized nation. The 2010 mid term elections are compared to the 1982 elections. The Left even goes so far as to compare the killing of Bin Laden to Reagan’s invasion of Granada.

Where Obamabots really go off the rails is in comparing the economic recoveries. They said like Reagan, Obama policies are setting off a boom. They confidently predict that by November 2012, the public will reward Obama with a landslide! It seems this belief in prominent in the White House itself. In fact taking a  page from Reagan 1984’s campaign, the Obama Regime plans to run on a  morning in America theme.

Is it morning in America? Or is now a time for blood, sweat, toil and tears? As the United States warms up for the presidential elections, the choice between those two narratives will be the most important decision each party makes and may determine who wins in 2012.

Both are ways of talking about the economy — the issue that polls show overwhelmingly preoccupies U.S. voters. The morning-in-America storyline is that the financial crisis is over, the economy is healing and the country’s innate powers of renewal, reinvention and innovation are already asserting themselves. The blood, sweat, toil and tears view is that the U.S. economy is still sick and that it will take a significant, arduous and collective effort to nurse it back to health.

For now, the White House is committed to morning in America.

[….]

Robert Wolf, chairman of UBS Americas, and one of Mr. Obama’s earliest supporters on Wall Street, agreed, and accused the news media of painting an overly bleak picture of the economy: “Since I sat here a year ago, we have two million jobs that have been created,” he said. “Exports have gone up by 10 percent and technology is booming, agriculture is booming. But when you look at the TV you hear what we are not doing well. I believe we have built a foundation and are on the right path.”

Read the rest: America’s economy: glass half full?

So it’s the fault of TV shows that Americans don’t feel the Obama Boom? If the economy was undergoing a Reagan style recovery, people would be feeling it. Normally, it would be suicide for any President to run on a morning again in America theme in this anemic economy. Obama has the luxury of a complaint press that keeps making excuses for the under performing economy. Any little good news is trumpeted as a sign that the boom has begun.

Here is a chart showing the reality of the Reagan recover vs. the Obama Boom.

Barack Hussein Obama is not Ronald Reagan. This anemic recovery is not the Reagan recovery of the early 80’s. If the Obama Regime runs on “morning again in America“, reality will hit them come November 2012.

Update: Democratic pollster Stanley Greenberg is warning the Obama Regime not to push the Obama Boom theme.

But behind the scenes, there is a fierce debate in Democratic circles about just how much Obama should also be focused on explaining the recent past. As it now stands, the President’s stump speech features a backward-looking message at its core. Obama trumpets “more than 2 million jobs in the private sector” that have been created in the last 15 months. At a recent speech in Ohio he dismissed May’s bad jobs numbers as “bumps on the road to recovery.” In Greenberg’s estimation, this is an error on par with President Obama’s midterm election pitch, which described the nation as a car that had just gotten out of a ditch that Republicans drove into in the first place. The metaphor didn’t work, Greenberg explained in a recent memo, because “people thought they were still in the ditch.”

Those close to Obama say Greenberg is drawing the wrong conclusions. “Nobody is hanging a mission accomplished sign on the economy,” shoots back David Axelrod, the President’s top message adviser who is now working on the reelection campaign.

I’m glad the Obama campaign is dismissing Greenberg’s warning. It will make it that much easier for our side to attack Obama. The Obama Boom is a myth and most Americans know it.