HA/KS's Link
See that green line? Those are the corporate profits as measured by the S&P 500. That red line? That’s the percentage of the American population that has jobs.
When even the president admits that 95% of the income gains have gone to the top 1% during his time in office, how is this a “recovery” for people who don’t live on Wall Street?
As I testified this week before the congressional Joint Economic Committee, at 2.1 percent average real growth, the U.S. is lagging far behind the 4.1 percent average recovery pace of the post-war business cycles. The Reagan recovery averaged 5 percent annual growth at the same point as the Obama recovery.
Obama’s stock market from the depth of the meltdown does beat Reagan’s market and the post-war average for equities. But here’s a very worrisome trend. Over the entire post-war period, average yearly growth has been 3.2 percent. And in the 1980s and ’90s, growth was 3.7 percent. Since 2001, however, under Republican and Democratic presidents and congresses, as the dollar lost over a third of its value growth has dropped to only 1.8 percent annually. Something has clearly gone very wrong.
For payrolls, Obama’s five-year recovery has averaged annual job growth of 1.2 percent (7.9 million jobs). Reagan’s was 3.1 percent (14.6 million jobs). Even with the recent jobs improvement, record numbers of Americans have dropped out of the labor force, part-time employment is replacing full-time, wages are abnormally low, and middle-class real incomes are falling.
The massive federal spending stimulus of 2009-2010 did not work. There were no so-called fiscal multipliers. The Fed’s near-$3.5 trillion of balance-sheet creation also failed, with money multipliers and velocity rates collapsing. Obamacare has thrown a wet blanket over business hiring, hours worked, and full-time jobs. Business investment and housing have not really recovered.
Overregulation has stifled Main Street businesses and start-ups. The highest corporate tax rate among developed countries is forcing American businesses to flee to lower-tax nations, taking their cash and jobs with them. Tax hikes on personal income, capital gains, dividends, and payrolls are reducing growth incentives.
Ronald Reagan’s free-enterprise growth model of easier taxes, limited government, lighter regulation, and sound money strengthened America both at home and abroad. Barack Obama’s model of heavy-handed government, income redistribution, punishing success, and cheap money has diminished us at home and weakened us around the world.
Caveat emptor, voters. It’s truly time for change.
The Rock
TALK to your neighbors.
Government IS the problem.
You know something is wrong. You just can't put your finger on it. You think you can, but you can't. Blame Obama, blame Bush, same shat different day.
Demoncrats nor Republicrats have an answer.
Look inside, not outside.
The givernment sux. There IS a matrix. Fox News or CNBC worshipers, it does not matter.
Want to be a tax slave? Keep voting for these tools.
Use your time wisely. Keep one eye open. Don't be a shill, for anyone. Your enemies may be your friends and your friends your enemies.
Interesting times! I pray, I hope. For you believers, do the same.
I'm not usually this open. Two Fireballs and two beers do that to me.
Hug your kids, your wives and your neighbors. Even those with whom you disagree. Get over yourselves.
Hope you all have a great weekend. I just got home, 120 hr. week. I know I will enjoy my family and continue to prepare for what lies ahead. One day off and back to work.
Stack a little gold and silver. You'll probably need it.
