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Posts Tagged ‘The Obama Depression’

The Obama Boom: Obama claims Congress is holding back the economy

by Phantom Ace ( 2 Comments › )
Filed under Barack Obama, Economy, Elections 2012, Headlines, Misery Index, Republican Party, unemployment at August 20th, 2011 - 3:27 pm

Barack Hussein Obama blames everyone for the bad economy. He blames Bush, Rich people and now he’s blaming Congress. he says Congress is preventing the economy for growing.

VINEYARD HAVEN, Mass., Aug 20 (Reuters) – A vacationing U.S. President Barack Obama accused Congress on Saturday of holding back the U.S. economic recovery by blocking “common sense” measures he said would create jobs and help growth.

In remarks recorded on Wednesday on his campaign-style bus tour in Illinois and aired during his holiday in Martha’s Vineyard, Massachusetts, Obama said the stalled construction, trade and payroll tax bills could give a boost to the economy.

“The only thing preventing us from passing these bills is the refusal by some in Congress to put country ahead of party. That’s the problem right now. That’s what’s holding this country back,” the president said in his weekly radio address, which is also transmitted on the Internet.

There never was a robust recovery, all Obama is just shifting who the culprit is. First it was Bush, now its Congress. Obama refuses to admit that his policies are a failure.

The Obama Boom: Consumer Confidence falls to lowest levels since 1980

by Phantom Ace ( 4 Comments › )
Filed under Economy, Headlines at August 12th, 2011 - 1:05 pm

The Obama Boom continues to show signs of deterioration.  Once again, an economic report comes in worse that expected. Consumer sentiment was at it’s lowest level since 1980.

U.S. consumer sentiment dropped to its lowest point in more than three decades in early August, as fears of a stalled recovery gelled with despair over government policies, a survey released Friday showed.

The Thomson Reuters/University of Michigan’s preliminary August reading on the overall index on consumer sentiment came in at 54.9, the lowest since May 1980, down from 63.7 in July. It was well below the median forecast of 63.0 among economists polled by Reuters.

High unemployment, stagnant wages and the protracted debate over raising the U.S. government debt ceiling spooked consumers, polled before the downgrade of U.S. sovereign debt by Standard & Poor’s a week ago.

No matter how much the media claims the economy is doing good, no one believes. Wages are stagnant and there are not many good paying jobs. Reality is destroying the myth of the Obama Boom.

Obama blames political process, not his policies

by Phantom Ace ( 11 Comments › )
Filed under Barack Obama, Democratic Party, Economy, Headlines at August 8th, 2011 - 4:08 pm

After hiding out all weekend and sending his minions to demagogue the Tea Party, President Obama finally makes an appearance. After being late to a press conference on the S&P downgrade of America’s credit rating he engages in demagogic language. He blames the political process and the GOP for the downgrade. Nowhere does Obama admits his deficit spending contributed to the downgrade.

President Barack Obama on Monday blamed a downgrade in the United States’ credit rating on political gridlock in Washington and said he would offer some recommendations on how to reduce federal deficits.

Obama said in a White House appearance that he hopes the Standard and Poor’s downgrade of U.S. debt to double-A-plus from triple-A will give lawmakers a new sense of urgency to tackle deficit spending and said he did not believe the reductions could be carried out with spending cuts alone.

Obama passes the buck again. He’s really a national disgrace. All he does is demagogue and blame others for his failure.

Roubini proclaims the end of the Obama Boom

by Phantom Ace ( 190 Comments › )
Filed under Economy, unemployment at August 8th, 2011 - 11:30 am

 

The greatest economic recovery since the colonization of Earth by the Pleiadeans 150,000 years ago is coming to a halt. About a year ago, Dr. Doom: Nouriel Roubini, who in 2005 predicted the economic collapse of 2007-2008 made a bold prediction. He claims that the Obama Boom was fragile and weak. Roubini also predicted that the US would fall back into recession due to unsustainable Debt. Recent data is showing that once again, Dr. Doom appears to be correct!

Influential economist Nouriel Roubini has warned hopes that the recent slowdown was temporary have been dashed and predicted the US and other advanced economies will have a second “severe recession  ”.

Writing in Monday’s Financial Times, the founder of Roubini Global Economics said: “America’s recent data have been lousy: there has been little job creation, weak growth and flat consumption and manufacturing production. Housing remains depressed. Consumer, business and investor confidence has been falling, and will now fall further.”

[…]

“Since this is a crisis of solvency as well as liquidity, orderly debt restructuring must begin,” said Roubini.

Read the rest:  Soft Patch Delusion Is Dashed: Roubini

Two years ago the Obama Boom was declared. Media financial writers like Daniel Gross claimed this would be the greatest economy ever. The media kept pushing the Obama Boom theme to create false confidence. It appears their efforts couldn’t change the reality. Debt was what got us into this crisis, incurring more debt would not get us out.  Dr. Doom warned everyone a year ago about the weakness of the Obama Boom, and the media dismissed and attacked him. Now reality will kill the Obama Boom lie and it us that will suffer!