CNBC - US Economy Grows 1.9% - Bad News For Obama

Neither party matters to me either way, both parties are full of overspending overpaid Authoritarian Statist who are destroying the country at home and abroad.

Originally posted by DarkStormCrow
reply to post by Beanskinner

 

Yes and Bush 1 paid for it, you think Obama is immune?

Americans are pissed and it crosses all party lines, no incumbent is immune to voters this election.

189% of 1 trillion is a whole lot different than 41% of 12 trillion.

edit on 5/31/2012 by DarkStormCrow because: added figures

Good point,

I did the math

$1 in 1980 is worth $3.57 today 2012

Obama has spend $1,450,000,000,000.00

1.45 Trillion by 1980 standards

Welcome to the Zombie economy.

Markets are not allowed to clear, the feckless are rewarded over the prudent, bad businesses are bailed out,
govt cronyism is rife,and the money printer is a the verge of warp speed.

Pray sanity returns , and price discovery, capital formation , competition, risk reward--you know
'The Free Market' is embraced.

reply to post by Beanskinner



Reagan and Bush tried to make the same argument based on 1968 dollars did not work then and wont work now.

Americans are screwed and both parties did it to us, I doubt there is a solution that does not involve bloodshed.

reply to post by Zngland


Be careful what you wish for. QE - 3 hasn't arrived......yet.

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The turmoil in Greece is effecting the whole world.

Now Spain is on the ropes!

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As we speak the USA is the tallest midget.

Originally posted by DarkStormCrow
reply to post by Beanskinner

 

Reagan and Bush tried to make the same argument based on 1968 dollars did not work then and wont work now.

Americans are screwed and both parties did it to us, I doubt there is a solution that does not involve bloodshed.

Free Market Capitalism will save us.

We have everything we need to fix this nation.

Originally posted by diddy1234
compared to the UK, id say it's a good improvement. lol

Compared to most of the rest of the G20, with the exception of maybe Germany and Canada, it's a great improvement.

Of course, Canada didn't have to do a big banking bailout. Why not, you might ask? Because we have banking REGULATIONS here, which are sorely lacking in UK, USA, and many of the other G20 countries.

Free Market Capitalism will save us.

We have everything we need to fix this nation.

If you left it up to Free Market Capitalism, the average American would be working a 72 hour week, for 15c / hour, with no vacations. There would be no unions, and no workers rights, at all. Women would still be stay at home moms.

Fannie Mae, Freddie Mac, Bank of America, Citi Group, AIG, GM, and Chrysler, Royal Bank of Scotland, along with the countries of Iceland, Greece, Portugal, Italy, and Spain would all be a footnote of the 2008 crash, amongst MANY others.

American unemployment would likely be sitting over 30%. Still think Free Market Capitalism is a good idea?

Free Market Capitalism doesn't allow for Government bailouts, the *only* law is survival of the fittest.

Some quotes from the CNBC article.

Private employers created 133,000 jobs in May, payrolls processor ADP said. That was below economists' expectations for 148,000 jobs.

The report comes ahead of Friday's closely watched employment report for May, which is expected to show that nonfarm payrolls increased 150,000, up from a paltry 115,000 in April. Job creation accelerated between December and February as the economy got a boost from an unusually warm winter.

Initial claims for state unemployment [cnbc explains] benefits rose 10,000 to a seasonally adjusted 383,000, a Labor Department report showed. Claims have now risen in seven of the last eight weeks.

Another report showed the number of planned layoffs at U.S. firms rose to an eight-month high in May as computer maker Hewlett-Packard said it would cut about 8 percent of its workforce.

Employers announced 61,887 jobs cuts this month, a surge of 52.6 percent from 40,559 in April, according to consultancy Challenger, Gray & Christmas Inc. The computer industry accounted for 27,754 of the planned jobs cuts.

"These employment numbers are getting to the disappointing side now .... and really are suggesting that labor market momentum has stalled at this point," said Sean Incremona, an economist at 4cast in New York.

It's a "Gulp & Gasp" economy !!

Why did Bush & Co. work hard to get to 4.4% unemployment ?
Why would they do that and then blow the whole deal ?
Answer: maybe He had a gun to his head.
Remember .... Congress was infiltrated by Ultra Liberals starting in January 2007

reply to post by xuenchen


- labor market momentum has stalled - s t a g n a t i o n -

Clearly, Obamas economic policies have failed.

It will only get worse as Europe plunges into a deep recession.

They won't be buying our iPhones.

reply to post by babybunnies


American unemployment rate will fall to 4% with President Romney in the

White House. That will send a tidal wave of payroll taxes to Washington DC

and wash away the trillion dollar deficits coveted by Obama.

Bah! I am supposed to click my heals together and dance a jig for a paltry 1.9%? That tells me the economy is crawling along at that number. The industrial infrastructure in mothballs, trillion dollar stimulus, Fed freezing interest rates, and over a trillion dollars in bailouts and all we can come up with after almost 4 years is 1.9%? Perhaps he can take a cue from one of his predecessors?



I will admit that the President inherited a train wreck. At the beginning, the President was given a lot of leeway to devise strategy to address the problem. I am not impressed whatsoever. No Federal Budget, 16 trillion dollar deficit, a reduction in the overall credit rating of the US, gas prices above 3 dollars a gallon, improperly planned and executed green economy and jobs strategy, and a healthcare plan that is billed to exceed initial estimates of cost while infringing Constitutional rights. There is probably more to add, and I will leave that too others to pick and choose.

I am concerned about the spending and the deficits, and that is what is dragging down the US economy. Who in their right mind would want to initiate commerce, invest, or add positions under the adverse fiscal conditions riddling the federal government and indirectly the overall health and viability of the economy? How can an economy remain competitive when a government is saddled with multiple trillion dollar deficits? Raising taxes like so many in Washington are giddy about would be nothing more than a drop in the bucket at solving the fiscal apocalypse waiting to reveal itself. It is time for our legislators to do the heavy lifting, because getting this solved on the backs of the taxpayers will not do it this time. The problem is just too big! No one wants to touch the deficit issue, and the politicians are more inclined to bicker back and forth about semantics and special interests. Both parties are in the same boat, and are clueless on how to address the problem. Back on topic, 1.9% growth is nothing to balk about.

Originally posted by Eurisko2012

Originally posted by miniatus

Originally posted by Eurisko2012
James Carville was correct. - It's the economy, stupid.

- CNBC - US Economy

- My God! Can't we do better than this? -

Welcome to Obama - s t a g n a t i o n -.

Typically you're expected to give some context about the article in your post =) care to explain a little bit? there's no information in your post at all.. just a link and a brief comment is all you have.

edit on 5/31/2012 by miniatus because: (no reason given)

All you have to do is click on the link.

It's a simple US economy growth rate.

The US economy is growing at a pathetic 1.9%.

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You can't defend the terrible Obama record so....no problem....attack the messenger.

- You should have given us more context.-

It's not an essay. Just keep it simple.

it's only the radical right that keeps saying that slow growth in this economy is terrible...considering the meltdown caused by no regulation of the trillions of dollars derivitive market...anything above 0% is damn fortunate.
the republicans handed this country and it's population the WORST ECONOMIC DISASTER in over 70 years, and yet you want people to vote for them again...wow!!!....what?... the republicans haven't finished f'ing the rest of us, so they want another chance to finish off the middle class?

“Since I’ve been president, federal spending has risen at the lowest pace in nearly 60 years,” Obama said on Wednesday. “Think about that.”
----Barack H. Obama (May 23rd, 2012)


That's because He had no choice !!!
He and his band of thieves MAXED Out the credit limits !!
And that led to a credit downgrade.
Vote Obama !!!
Vote Thrift !!!

Using inflation adjusted dollars,
Obama has outspent Reagan by about 2x.
Obama has outspent Eisenhower by about 6x.

Inflation Calculator


White House Budget Report (pdf)








Watch Your Tax Dollars at Work !

reply to post by xuenchen


Those $$$ Trillion deficits look terrible.

President Romney will bring fiscal responsibility back to Washington DC.

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Grow the economy and reduce the size of the US government.

Fire the TSA and replace them with a private sector company.

- Covenant Aviation Security -

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Reform Social Security - raise the retirement age to 67 just like Canada.

Originally posted by Eurisko2012



When President Mitt Romney removes the wet blanket that Obama has wrapped around

free market capitalism then the unemployment rate will fall to 4%.

President Mitt Romney will also enact another Tax Repatriation Holiday.

Fortune 500 corporations will bring $$$ billions back to the USA.

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Do you actually believe that? Or are you just trolling?

Expansion has limits. The economy can not grow any more until it contracts significantly first. If you truly believe that will change under a different administration of any flavor, then you are delusional.

reply to post by stanguilles7


President Romney will create an environment where capitalism can thrive.

Right now Obama is smothering capitalism. Obama hates the private sector.

reply to post by Eurisko2012


LOL. Well, at least you are willing to admit your own partisan affiliations.

OP, I noticed you mentioned a few times about the amount of college grads without jobs. Once people stop getting degrees in things such as fashion and creative writing and start getting real degrees in lets say engineering or physics, I feel like the amount of grads that are unemployed will drop significantly.

reply to post by Eurisko2012


If they do flush, then everything attached to the commerce claus gets flushed to, like civil rights