Within the last few days, Obama had the audacity to boast this idiotic claim: "Let's look at the facts. Since I have come into office, there's almost no economic metric by which you couldn't say that the U.S. economy is better and that corporate bottom lines are better. None. In fact, our policies have produced a record stock market, record corporate profits, 52 months of consecutive job growth, 10 million new jobs, the deficit being cut by more than half, an energy sector that's booming, a clean-energy sector that's booming, a reduction of carbon pollution greater than the Europeans or any other country."
Obama seems to lack a suitable intellect to understand a rather easy concept. If you take one apple and cut it into 10 pieces, suddenly you don't have 10 apples. Before you is but one apple cut 10 ways.
With crazed quantitative easing, all Bernanke did was slice up the same apple. In nominal terms, there are more dollars, which is the same as more slices of the same apple. Since everything gets tallied in dollars, everything appears higher. However, nothing has risen.
In fact, the economy has contracted under Obama, significantly so. After removing the effects of more dollars and bank credits in circulation owing to Bernanke's crazed QE, True GDP has fallen every quarter of every year Obama has been office. You can see that reality in WHY ISN'T THE ECONOMY DRIVING ANYWHERE? THE CAPITAL ENGINE LACKS FUEL!
As well, the S&P 500 is far from its all-time high, which was hit way back in 2000. Stocks aren't even close to their 2007 peak. Stocks trade at 1996 levels. In S&P 500 AND THE DOW JONES INDUSTRIAL AVERAGE HIT ALL-TIME LIES! I have shown you this really. And for the same reason that nominal stock prices don't reflect reality, neither do corporate profits.
How is employment rate of prime age workers, 25-54 working out for Americans? In ALMOST 17 MILLION AMERICANS STILL NOT WORKING FOR A LIVING!, I show you the employment rate stands near 1993 levels. There are two full New York Cities not working today.
In EVERYBODY'S WORKING FOR THE WEEKEND, FOR LESS, I show true wages have fallen for years, especially under shark-jumping Obama.
If the economy is better as Obama idiotically claims, then why are there more than 46 million Americans collected food stamps (SNAP), a likely record? In TRUE STATE OF THE UNION: NIXON TO OBAMA. THE BIG PICTURE, I show you how the Undertow of Political Dependency, which reveals the sum of income of those getting paid by politicians whether by government employment or by welfare, hit an all-time high under Obama.
Back in June, in IT'S A RECESSION IN A DEPRESSION! RECESSION COMES TO AMERICANS LIVING DURING THE GREATEST DEPRESSION EVER, I showed you that in True Prices, commodity ETFs were way down. When key material commodities are low, that means production is way off.
In May, in EXISTING HOME SALES PROPAGANDA SPREADS AT A BIZARRO THEATER OUTLET NEAR YOU, I showed you the horrible state of residential realty and in June, in THE FANTASY PERFORMANCE OF BETTER CARS AND TRUCKS SALES HYPED THIS WEEK ON YOUR LOCAL BIZARRO THEATER STAGE, I showed you the sorry state of car sales.
By every economic metric the economy has not come close to recovery. Oh and Obama agreed with Congress to blow another $6.666 trillion during his painful five plus years. In U.S. CONGRESS HAS CROSSED THE RUBICON, DEBT 100% OF GDP, FOR REAL. Obama is the most fiscally irresponsible president presiding over the more fiscally irresponsible Congress perhaps ever.
If Obama believes what he says, then truly Obama wants to make himself appear to the world as an idiot. If Obama knowingly lies merely to help candidates of his political party in their upcoming November election, then Obama is pure evil.
Either way, Obama has jumped the shark.
Be sure to check out the Bizarro Theater series: True State of the Union. You should find it fascinating and shocking! Now enjoy Fonzie jumping the shark.
And everyone knows what a colossal train wreck Obamacare has been. Bizarro Theater has more than enough on Obamacare.
Oh and that carbon reduction has come from fracking and the switch to natural gas merely because nat gas is cheaper than goal to burn to generate electricity. It has nothing to do with Obama.
Gab It
