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Posts Tagged ‘Obama Depression’’

The Obama Boom: Incomes declined during the great Obama recovery

by Phantom Ace ( 1 Comment › )
Filed under Business, Economy, Special Report at August 23rd, 2012 - 10:49 pm

Since 2009 the media has been claiming that we are undergoing the greatest economic boom in the history of recoveries. Year after year, they laud the economic numbers despite their anemic nature. Since the great Obama Boom began incomes have declined 4.8%. This occurred during a recovery!

American incomes declined more in the three-year expansion that started in June 2009 than during the longest recession since the Great Depression, according an analysis of U.S. Census Bureau data by Sentier Research LLC.

Median household income fell 4.8 percent on an inflation- adjusted basis since the recession ended in June 2009, more than the 2.6 percent drop during the 18-month contraction, the research firm’s Gordon Green and John Coder wrote in a report today. Household income is 7.2 percent below the December 2007 level, the former Census Bureau economic statisticians wrote.

“Almost every group is worse off than it was three years ago, and some groups had very large declines in income,” Green, who previously directed work on the Census Bureau’s income and poverty statistics program, said in a phone interview today. “We’re in an unprecedented period of economic stagnation.”

Incomes have declined more during the Obama Boom than the recession itself! Clearly the economy sucks and Obama has nothing to run on. This is the Obama Depression.

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Posted in Business, Economy, Special Report | 1 Comment »

Obama Boom: Weekly Unemployment claims up unexpectedly again!

by Phantom Ace ( 3 Comments › )
Filed under Economy, Energy, Headlines at July 21st, 2011 - 10:25 am

I wonder who are these economists that get polled by the media. Time after time, they expect rosy economic news. Time after time, the bad news is viewed as unexpected! Once again, jobless claims stay above 400,000. Last week 418,000 people filed for unemployment benefits. This is a sign of an anemic and weak job market, not the fictitious Obama Boom the media keeps pushing.

New U.S. claims for unemployment benefits rose more than expected last week, a government report showed on Thursday, pointing to a labor market that is struggling to regain momentum after job growth faltered in the last two months.

Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 418,000, the Labor Department said.

Economists polled by Reuters had forecast claims rising to 410,000. The prior weeks figure was revised up to 408,000 from the previously reported 405,000.

The Obama Depression continues unabated.

(Hat Tip: Nevergiveup)

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Posted in Economy, Energy, Headlines | 3 Comments »

They are finally calling it the “Obama Depression”

by Iron Fist ( 8 Comments › )
Filed under Headlines at July 11th, 2011 - 3:37 pm

Check out the headline. In SeeBS, no less:

Analyst: Even Dollar Stores Struggling In ‘Obama Depression’

July 11, 2011 9:19 AM

LOS ANGELES (CBS) — More stores across the U.S. that offer deeply-discounted products are seeing their sales decline after years of growth amid America’s “Great Recession” — and one analyst said on Monday it’s another sign of even deeper downturn.

While the demand at stores like the 99-Cent Store or Dollar Tree is still relatively high, the biggest chains in the nation have fallen short of Wall Street’s expectations for several months, a trend that may prove even more ominous for the economy at large.

“I think what’s going on in those stores is that we are in a depression for 80 percent of Americans,” top retail analyst Howard Davidowitz told KNX 1070.

That is the first time I have seen it called a “Depression” in a non-right wing venue. The wheels are starting to come of Obama’s Magic Bus…

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Posted in Headlines | 8 Comments »

Democrats own the Obama Depression

by Phantom Ace ( 3 Comments › )
Filed under Barack Obama, Democratic Party, Economy, Elections 2012, Headlines, Misery Index, unemployment at June 7th, 2011 - 11:02 pm

The Obama Boom is really the Obama Depression. He may have inherited a mess, but he’s turned it into a disaster. Obama owns the economy and he can no longer blame anyone.

While I generally loathe press releases, I have to admit that one caught my eye on Monday morning. The e-mail release from the Republican National Committee simply said, “They Own It.”

As I expected, “They” referred to President Obama and Democrats, and “It” referred to the economy. Within the first six months or even a year of a new administration, it’s fair game to blame predecessors for any problems. Indeed, it’s a legitimate and time-honored tradition by presidents of both parties. But such arguments get much less convincing as the second year comes to an end. Once into the third year, such claims sound downright silly. Gradually, any president and any administration take ownership of the problems facing the country.

While Obama and Democrats can say that they inherited a terrible economy and downturn that has since only marginally improved, it’s far more complicated than that.

Barack Hussein Obama owns this economy. It’s poor state is a reflection of Obama’s failed policies.

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Posted in Barack Obama, Democratic Party, Economy, Elections 2012, Headlines, Misery Index, unemployment | 3 Comments »