Thread: How the economy could break Obama

I will not sit idly by and watch you guys smear the first, and possibly the only African American President in our history. The economy has turned around under Obama's watch. Look at the DOW. Forget about the unemployment rate. That part is Bush's fault. The stimulus worked by God! Just look at the DOW. When the DOW is up, we're all doing better, even if you are still unemployed.

^ Say, isn't your sig promoting Romney?

Originally Posted by GearsMcGilf

I will not sit idly by and watch you guys smear the first, and possibly the only African American President in our history. The economy has turned around under Obama's watch. Look at the DOW. Forget about the unemployment rate. That part is Bush's fault. The stimulus worked by God! Just look at the DOW. When the DOW is up, we're all doing better, even if you are still unemployed.

Does
Obama
Worry?

None of these politicians care, they aren't going broke anytime soon....

Yes, my siggy promotes Romney. Everyone else running blows IMO, especially LAM's idle. Why not elect someone who has some real world, private sector success (as evil as that may be), rather than another empty suit politician who couldn't run a supermarket.

I'm going shopping for Mitt Romney yard signs this weekend. Any leads will be appreciated. I had a Ron Paul bumper sticker, but the wife pulled it off. It's probably just as well since he never had a chance. I wish I knew where LAM worked so I could rip all 37 of his Obama stickers off his ride. If I could, I'd even pop his Obama doll.

Originally Posted by GearsMcGilf

I'm going shopping for Mitt Romney yard signs this weekend. Any leads will be appreciated. I had a Ron Paul bumper sticker, but the wife pulled it off. It's probably just as well since he never had a chance.

Ron Paul is one candidate I would actually like to see win the presidency. At this point I feel everyone else is at best a 'lesser evil' so to speak.

Originally Posted by troubador

Ron Paul is one candidate I would actually like to see win the presidency. At this point I feel everyone else is at best a 'lesser evil' so to speak.

Are you still as hot as you were back in the bulknutrition days?

I'm going shopping for Mitt Romney yard signs this weekend.

Originally Posted by GearsMcGilf

(snip)ckers off his ride. If I could, I'd even pop his Obama doll.

That's just mean.

Originally Posted by GearsMcGilf

Are you still as hot as you were back in the bulknutrition days?

wtf are you talking about?

Originally Posted by Curt James

How the economy could break Obama

Is President Obama moving closer to a one-term presidency with every disappointing economic datapoint, unemployment report and stock market stumble?

On Friday, a government jobs report indicated that only 54,000 jobs were added last month and the unemployment rate rose to 9.1% -- troubling signs that the recovery is wavering.

Big Smoothy posted about those job gains last month and most came from one employer McDonald's.....the pay is like $7-$14/hr

there's nothing the POTUS can do directly to reverse 30 years of neo-liberal economic policies. it all has to come from legislation that needs to limit what big corps can do and reduce in some cases and that will never happen. things like glass stegal needs to be re-instated, banks to big to fail need to be broken up etc, just like in the 80's when the justice dept broke up AT&T into RBOCs. not a utter on either side about anything. big corps are paying 5% in fed taxes annually and they lobby now to pay less.

millions of jobs have been lost from outsourcing various forms of labor and manufacturing to Mexico, China, India and the Philippines since the US joined the OECD in 1980. this does two things, it helps to eliminate poverty in severely over-populated nations, and increases profits for big corps.

then factor in jobs lost due to changes in technology that will never be coming back. small changes in technology can even mean large changes/needs in the work force. IP phones and smart phones alone have caused many jobs losses themselves.

unions will be making a come back in the US in decades to come. as economic history has shown over the past 30 years US company's and employers only do what is required of them by law. not many do what is right on their own and that is to pay real wages at the cost of reduced profits to the company. anyone think this is going to catch on in the US?

many are feeling the sharp edges of capitalism right now

freaking everything is a catch-22....

Originally Posted by troubador

Ron Paul is one candidate I would actually like to see win the presidency. At this point I feel everyone else is at best a 'lesser evil' so to speak.

I agree with wholeheartedly.
I like Obama however in this election if Ron Paul makes it i will vote for him.

agreed!

I agree Obama hasn't cut the mustard, but do you honestly think anyone from the GOP side is going to do anything better. While they have been directing all of our focus on the deficit and teacher's unions, employment is stalling, people are still losing jobs, and the housing market is tanking again. Obama's fault as well, but if you get a GOP guy in there who continues to cut gov't services to the poor and is held from providing an economic stimulus by the tea party, you will really start to feel the pain, unless somehow gas drops. Ya wanna know the best way to get gas prices to drop? Start researching alternative fuels. That whole, "It's all driven by supply/demand" is bullshit. OPEC controls the price, and when they find their greatest addict is trying another drug, they'll drop the price a little. Look what happened the last time, do you think a few people buying hybrids drove the price down? Hell no, we started to have a serious discussion about getting away from oil and the price magically dropped by 40% in a few months.

DailyTech - Saudi Prince Calls for Lower Oil Prices to Stop Defections to Electrics, Hybrids

Look at the last round of stimulus. What did it stimulate, other than Wall Street? It had basically no effect. The POTUS admin will say that it prevented another great depression. But, the economy has not moved an inch. We are basically in the same spot that we were in when he took office. The only thing he can campaign on at this point is what how bad things might be if it weren't for the stimulus.

Originally Posted by Dale Mabry

I agree Obama hasn't cut the mustard, but do you honestly think anyone from the GOP side is going to do anything better.

I don't know. Personally, liberty is more important (including fiscally) than a strong economy. Maybe that makes me a radical but I also don't discriminate like many in the GOP do; I don't want it rigged at the top or the bottom.

Despite the failure of Obama, he's going to be re-elected. The GOP doesn't have an exciting candidate. I'll vote for Romney, but I don't think he has the required "it" factor to take down an incumbent.

Originally Posted by GearsMcGilf

Look at the last round of stimulus. What did it stimulate, other than Wall Street? It had basically no effect. The POTUS admin will say that it prevented another great depression. But, the economy has not moved an inch. We are basically in the same spot that we were in when he took office. The only thing he can campaign on at this point is what how bad things might be if it weren't for the stimulus.

the AARP was signed into law by Bush in Oct of '09 not Obama...

How the economy could break Obama

By Charles Riley
UPDATED: 11:53 AM EDT 06.03.11

Is President Obama moving closer to a one-term presidency with every disappointing economic datapoint, unemployment report and stock market stumble?

Democrats of course hope that isn't the case, but political scientists say that in almost every election, the economy does indeed turn out to be issue No. 1.

Political Scientists look at data. It can give very solid historical correlations - and these correlations can lead to predictions.

Yes, if the unemployment rate is over 7 or 8% (I forgot the specific number) every President in office has lost.

The questions is:

1. is this time different?

1a. do Americans know enough to realize that this trend of unemployment is not about one President now, or another one in the future?

No party, and no President can reverse the trend of unemployment and service sector jobs that pervade the US economy.

Originally Posted by Big Smoothy

Political Scientists look at data. It can give very solid historical correlations - and these correlations can lead to predictions.

Yes, if the unemployment rate is over 7 or 8% (I forgot the specific number) every President in office has lost.

The questions is:

1. is this time different?

1a. do Americans know enough to realize that this trend of unemployment is not about one President now, or another one in the future?

No party, and no President can reverse the trend of unemployment and service sector jobs that pervade the US economy.

speaking of poli-sci and economic data below is one reason why the "recovery" of the 2007 recession will be very slow. unfortunately the "people" have short-term memories and our country is very Id based, the masses want instant gratification, but that is not our reallity. there are no quick fixes to solving the current job crisis in the US that has been building for decades, people just don't understand this.

ABANDONING WHAT WORKS - EPI - April 2011
http://epi.3cdn.net/ec12c2ff3297c3785e_rkm6bh9l9.pdf

Obama may be the first African American president in the history of the United States, but that surely doesnt make him a successful or "good" president.

I can't say I agree with most of his policies and I am not too fond of the way he carries himself, but I look further than skin color and could care less if we have another black president or not.

I hope when his term ends, a better figurehead will be elected, who has the experience necessary to really run things properly.

Originally Posted by Dale Mabry

Ya wanna know the best way to get gas prices to drop? Start researching alternative fuels. That whole, "It's all driven by supply/demand" is bullshit. OPEC controls the price, and when they find their greatest addict is trying another drug, they'll drop the price a little. Look what happened the last time, do you think a few people buying hybrids drove the price down? Hell no, we started to have a serious discussion about getting away from oil and the price magically dropped by 40% in a few months.

DailyTech - Saudi Prince Calls for Lower Oil Prices to Stop Defections to Electrics, Hybrids

Alls I can say is show me the technology. No question we need to get off the dependence on foreign oil, especially from countries that are innately hostile to us, like Saudi Arabia. I won't even bring up domestic drilling, cause it's a waste of bandwidth here. God forbid we should ever tap into our own supply. The Atlantic and Pacific would unite and swallow this country for our evil ways and climate change would wreak havoc across the globe. Meanwhile, Brazil can have at it.

But, as far as price, there is a gag factor, at which oil prices seem to drop. I don't think that talking about technology that doesn't exist yet has an impact on the price of oil. But, when oil reaches $140+ per barrel and we're paying $4+/gal, people naturally start consuming less of it and the price comes down. That's simply supply and demand at work. It was the global economic crisis that brought down the price of oil, not Barry's speeches about alternative fuel and saving the planet. The latter might be good for a Nobel Peace Prize, but it has no real world impact on the price of commodities.

Originally Posted by GearsMcGilf

I won't even bring up domestic drilling, cause it's a waste of bandwidth here. God forbid we should ever tap into our own supply.

the US is tapping into domestic oil supplies just not all at once, that would be rather stupid considering the lack of storage and production capacity in the US. current US oil reserves are at or near peak levels.

once again you are overlooking inflation and the decrease in purchasing power in the US dollar, remember the OPEC dollar?

the more money the FRB prints to help out wallstreet the higher oil prices will stay regardless of production. the FRB is there to help wall-street it could care less about how much the "workers bee's" have to pay for gas at the pump..

the basic laws of supply and demand haven't been applicable in a century, you need to catch up, it's 2011 not 1911....

monetary policy dedicated by the FRB is one of the reasons why the US is fubar.

The decline of the USD is not the only reason that oil prices are going ^. It is certainly part of the reason, but not the only reason. If the US govt even whispered that we might tap into our own reserves, the price of a barrel of oil would tumble tomorrow. The fact is there is an abundance of oil waiting to be tapped into, right off our shores that could end the $700 Billion exchange that takes place each year. Yet, the enviro-nazis are preventing us from doing what you and I, and anyone else with a grain of common sense, knows what we need to do in order to end our dependence on the Saudis. But, it's not going to happen; only in Brazil. In the meantime, let's keep holding out for that green renewable technology that still doesn't exist, in spite of all the Nobel Peace Prizes that have been handed out.

BTW, the basic laws of S & D are holding out very well. Last time I bought a microwave oven, I went to WM and bought one made by Haier, a chinese manufacturer and would have paid $35 for it, as opposed to $70-$80 for an american made one. But, I chose the $35 one from Haier. On top of that, the cashier forgot to scan it, so I ended up not paying shit for it. So, given the choice, which brand would you buy?

yes I know Haier I have one of their wine collars in a spare bedroom. they are a multinational corp and have production facilities in the US that is why their product was cheaper no doubt it was imported almost tariff free. I'm sure it has something to do with US-China Relations Act of 2000 (H.R. 4444). The US only charges a 3% tariff on China imports while they impose a 40% tariff on US imports...that seems fair doesn't it?

unequal trading is one of the reasons why the US economy is screwed we do not trade equally with anyone, we import substantially more than we export to any and all OECD countries....

a consumption based economy is not sustainable in the US especially when you factor in stagnant wages for a good 1/3 of the US population and the loss of buying power due to inflation/bad monetary policy by the FRB.

Originally Posted by LAM

The US only charges a 3% tariff on China imports while they impose a 40% tariff on US imports...that seems fair doesn't it?

No SHIT!!!!!! This is exactly why the idea of free trade is a myth. This is exactly the point that Trump was trying to drive home, while you Obamabots were writing him off as a nutjob and standing by your messiah. While he was suggesting that we give it back to the Chinese, in order to try and revive the manufacturing industry over here, you Obamabots were laughing at him and insisting that no one could possibly do a better job than the joke we have in the WH right now.

Of course, this is the fault of the FRB, not the president. I would never slam the man who is the first, and possibly the only AA president in our history. I would never go there, so don't get me wrong.

it's time to consider the fact that it could be much worse.....we could have a black man as our president.....

Originally Posted by GearsMcGilf

No SHIT!!!!!! This is exactly why the idea of free trade is a myth. This is exactly the point that Trump was trying to drive home, while you Obamabots were writing him off as a nutjob and standing by your messiah. While he was suggesting that we give it back to the Chinese, in order to try and revive the manufacturing industry over here, you Obamabots were laughing at him and insisting that no one could possibly do a better job than the joke we have in the WH right now.

Of course, this is the fault of the FRB, not the president. I would never slam the man who is the first, and possibly the only AA president in our history. I would never go there, so don't get me wrong.

saying things to get people to vote and having the ability to make changes are obviously not the same.

take for example all the GOP bs and John Bonner about "jobs-jobs-jobs" the last election cycle. they used it to get a bunch of republicans elected, dam well knowing there is nothing that can be done to create jobs in the US that will not come at a cost to profits to corps both private and public, and that's not going to happen. just like why nobody from the GOP ever mentions stagnant wages or wage inequality one of the biggest financial problems in the US, same problem...

same thing applies to trade. if the US increases tariffs to either increase federal revenues or discourage imports from China it would come at the cost of the dollar or China buying less US debt.

a country's trade deficit is equivalent to the country’s government budget deficit (G - T ) plus the country’s private investment/savings imbalance (I - S).

All of the economic problems in the US are multi-faceted and have been created over many, many decades. there is no one solution.