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L.A. BRONCOS FAN 05-29-2013 04:24 AM

Obama = Worst Socialist Ever
 
Obama is clearly the worst socialist ever

By Steve Benen
-
Tue May 28, 2013 11:15 AM EDT



http://m.static.newsvine.com/servist....jpg&width=380

New York Times

Wall Street's major indexes soared this morning after U.S. home prices saw their best annual rise in seven years, and consumer confidence got another boost. But even before today's stock-market gains, President Obama is in rare company when it comes to Wall Street returns.
In the 84 years that the Standard & Poor's 500-stock index has been calculated, it doubled during the terms of only four presidents before Barack Obama's election in 2008. This month that number rose to five as the index climbed to more than twice what it was when he took office.
Through Friday, more than 52 months after he took office, the index was up 105 percent during his term in office, for a compound annual gain of 18 percent.
In terms of the percentage gain, it's worth taking some of this with a grain of salt. If I open a widget factory and sell two widgets a year, I'll find 100% growth if I sell four widgets the following year. In Obama's case, it was easier to double the value of the major Wall Street indexes given the scope of the catastrophe he inherited from Bush/Cheney.


Nevertheless, Obama had to get the economy back on track, and he did. As the above New York Times chart helps demonstrate, when it comes to stock-market growth, Obama is already among the most successful modern president of either party, and if the economy continues to steadily improve over the next three years, Obama will fare even better from a historical perspective.


From a purely political perspective, it's worth remembering that the president's critics on the right predicted the opposite.
As we talked about several months ago, the real fun begins when we reminisce about what Obama's Republican critics were saying in early 2009. Indeed, the Wall Street Journal ran an entire editorial in early March 2009 arguing that the weak stock market was a direct result of investors evaluating "Mr. Obama's agenda and his approach to governance."


Karl Rove and Lou Dobbs made the same case. So did Rush Limbaugh, Sean Hannity, and Fred Barnes. For a short while, it was one of Mitt Romney's favorite talking points, too. Even John Boehner got in on the larger attack.


For the record, I don't think a strong stock market is necessarily proof of a robust economy. On the contrary, I care far more about unemployment, median wages, and economic growth than Wall Street returns. But the right shouldn't try to have it both ways -- if a bear market in 2009 is, in the minds of conservatives, clear proof that Obama's agenda is misguided and dangerous, then by the same reasoning, should we interpret soaring Wall Street indexes as proof of Obama's genius?

Rohirrim 05-29-2013 07:05 AM

If this country was an ecosystem, say a pond for example, the wealth would be algae, and it would cover the surface of the pond in a thick slime, choking out all life beneath.

Like Blart's thread shows, 31% of oil company revenue comes from churning their own stock. Think they're the only corporation doing that?

America is now nothing more than the host to an economy of parasites.

05-29-2013 07:14 AM

Quote:

Originally Posted by Rohirrim (Post 3853509)
If this country was an ecosystem, say a pond for example, the wealth would be algae, and it would cover the surface of the pond in a thick slime, choking out all life beneath.

Like Blart's thread shows, 31% of oil company revenue comes from churning their own stock. Think they're the only corporation doing that?

America is now nothing more than the host to an economy of parasites.

All superpowers come susceptible to financialization of their economy, it happended to the Brits, the Dutch, etc...

This is still one if the few laces where you can carve out an excellent life if you are smart and don't waste your money on stupid things... I don't care about super wealthy, the few always win and hoard resources, that will never change do why fret.... Slice your own pie, live and let live, right

Rohirrim 05-29-2013 07:28 AM

Quote:

Originally Posted by B-Large (Post 3853511)
All superpowers come susceptible to financialization of their economy, it happended to the Brits, the Dutch, etc...

This is still one if the few laces where you can carve out an excellent life if you are smart and don't waste your money on stupid things... I don't care about super wealthy, the few always win and hoard resources, that will never change do why fret.... Slice your own pie, live and let live, right

I have children. Presumably, I will have grandchildren some day. As this system of feudalism gets more and more concretized and wealth is amassed into fewer and fewer hands, the people will eventually be herded into serfdom. It's already clearly happening.

I can see where your "Get mine while the getting is good" philosophy would be attractive, but you have to take into account the nature of greed. Greed is not satisfied with "most." It must have "all." Even the little piece of your pie that you are content with will eventually become the target of the never satisfied. Remember the Niemoller dictum? It was directed at all those who knew better and never spoke up.

baja 05-29-2013 07:37 AM

https://upload.wikimedia.org/wikiped...moller_obl.jpg

pricejj 05-29-2013 08:37 AM

Yay!! REAL asset inflation has been skyrocketing out of control since 2009! Yay!!1!1

Fedaykin 05-29-2013 08:45 AM

Bush blew up the economy, and it's been recovering nicely (read: the situation has been exploited very well by) the top % ever since.

'Tis why I laugh anytime I hear any variation of the phrase "we need to cut taxes for the job creators so they have money to create jobs!"

There is no problem with capital. Anyone who thinks there's a problem with capital is not and has not been paying much attention.

Rohirrim 05-29-2013 09:05 AM

Quote:

Originally Posted by Fedaykin (Post 3853532)
Bush blew up the economy, and it's been recovering nicely (read: the situation has been exploited very well by) the top % ever since.

'Tis why I laugh anytime I hear any variation of the phrase "we need to cut taxes for the job creators so they have money to create jobs!"

There is no problem with capital. Anyone who thinks there's a problem with capital is not and has not been paying much attention.

Yep. They're swimming in capital, or hiding it offshore, as the case may be. It's a hell of a lot easier to just churn computer programs to increase your wealth than it is to create jobs. Jobs = people, and people are messy.

mhgaffney 05-29-2013 02:10 PM

Not capital, rather: paper dollars -- fiat currency -- counterfeit money.

It's a huge bubble and will soon go pop.

cutthemdown 05-29-2013 02:22 PM

We now have to keep lightbulb reciepts for 10 yrs. Taxes only 3. What a country.

cutthemdown 05-29-2013 02:26 PM

The x factor of our economy is our incredible power in the world. The rest of the countries afraid the USA is TOO BIG TO FAIL. No other country could get away with printing so many dollars. But we give a lot of them away to other central banks around the world to spread around the wealth so to speak.

The bubble that is the USA busts and world goes into a dark age.


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