frvcvs said:
The economy is doing so terrible isn't it?
Under Obama's presidency the dow went from 7,949.09 to 17,730.11 today. So terrible isn't it?
Only those with money (or those that didn't unwisely bail in 2009) are celebrating the stock market. Just like a market can be over-bought and hyper-inflated, a market can be over-sold and hyper-deflated substantially.
There was nothing fundamentally wrong with the economy, other than the big banks making poor bets on a politically infused/charged housing market (letting people buy homes that had no business doing so).
Such was the case in March 2009. Obama was lucky he stepped in after all the hard work was done before he even swore himself on the bible to protect and defend our Constitution and it's rights. Name one piece of economic legislation he initiated to get the economy back on track and moving ahead, that actually did anything back in 2009/2010. I dare you. Cash for Clunkers, hah!! How many Summers of Recoveries did he and Biden announce were going to kick us off gangbusters? After 2 or 3 epic fails, they finally gave up on that lame slogan.
This chart just hit a new low this month with participation rate of 62.6%, lowest since those "booming" years
of 1978. (you had to be there to know).
All these new "independently wealthy" people are sure living fat, dumb and happy. Oh yeah, it's all those baby boomer retiring, ya, that's it. Why aren't their senior level jobs being replaced, allowing all these young bucks a chance to fill them in with well paying jobs? Under 30 unemployment and under-employment (those wanting full time jobs) is still staggeringly high.
I see all kinds of improvements in this chart below.
It's definitely keeping the fed guv job rolls plenty busy. Lots of paper to push mananging those kinds of pay-outs. That's at least 15% of the total USA population getting food stamps the
last 4 years, with little if any improvement at all. Unemployment was almost double what it is now (well about 80% higher to be exact), compared to May 2011. All those new jobs people are getting (working 2 part-time in many cases, so each of those count as a single job created, woo-hoo!), and they still need food stamps to get by. That sounds like a robust economy to me, as least by Obama standards.
But that's all part of our "new normal" I guess, so take, like it, and celebrate it.