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You think the economy is bad?

Discussion in 'Off Topic Threads' started by JBrooks, Feb 2, 2009.

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  1. JBrooks

    JBrooks TS Member

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    Is this why?

    "Democrats' Economic Plan: Blame The Republicans for Everything
    Monday , January 26, 2009

    By John R. Lott, Jr.

    What do you expect Americans to do when President Obama tells us we are in “an unprecedented economic crisis”? Is any one surprised when consumers cut back on buying? When companies stop spending money?

    Unfortunately, Obama’s statements aren’t new -- he made similar statements during the campaign last year. Democratic political consultants have been all over the media making the same claims about us being in “the most unprecedented economic crisis in history.” Of course, the media have been pounding away at this message also.

    It isn’t just that the claim about the “unprecedented economic crisis” is false -- it is absurdly false. But by frightening Americans and causing them to change their behavior, they are causing the economic chaos they claim to want to solve.

    Take a few numbers:

    -- People might not remember it, but almost a third of all the months during the 1970s, 1980s, and 1990s had an unemployment rate as high or higher than it is now.

    -- The inflation rate today is incredibly low. Over the last year the inflation rate has been 0.1 percent. There is only one year since 1960 when the inflation rate was as low as 0.7 percent (1961).

    -- GDP growth might have fallen slightly by 0.5 percent during the third quarter last year, but that is after it had grown at 2.8 percent the previous quarter. Americans were still wealthier than they were at the beginning of the year.

    Given all the claims about disaster, it is a wonder that the economy isn’t in even worse shape. You would think that politicians would have understood the impact of their words. But if they didn't (and it is very hard to believe that they don’t understand this), they had plenty of chances to learn that lesson again last year.

    Senator Chuck Schumer (D-N.Y.) publicly released a letter he had written to the Federal Deposit Insurance Corp (FDIC) and Office of Thrift Supervision (OTS) questioning the IndyMac Bancorp chances of surviving. He had no evidence of anything, just his suspicion that IndyMac had a weakened financial condition.

    Depositors panicked and took their money out of the bank, driving it out of business.

    The office of OTS concluded: “The immediate cause of the closing was a deposit run that began and continued after the public release of a June 26 letter to the OTS and the FDIC from Senator Charles Schumer of New York. The letter expressed concerns about IndyMac’s viability. In the following 11 business days, depositors withdrew more than $1.3 billion from their accounts.”

    Or take Senate Majority Leader Harry Reid’s claim: “One of the individuals in the caucus today talked about a major insurance company. A major insurance company — one with a name that everyone knows that’s on the verge of going bankrupt. That’s what this is all about.” No major insurance company was on the verge of bankruptcy, but all the insurance industry stock prices plunged the next day. No one knew which insurance company Reid might have had inside information about.

    If these scare tactics about the economy weren’t enough, the threat of higher taxes or throwing out mortgage contracts or massive new regulations or the subsidies for people being unemployed just made things even worse. Why do the unemployment insurance benefit increases end long before next year’s elections?

    My guess is that Democrats do understand the impact of their words. But these are just some of their claims about the economy. So why the conscious effort to drive down the economy?

    The answer is simple: if things get worse in the economy, especially before the Democrats’ stimulus plan kicks in, Democrats think they will able to blame the Republicans for everything. Even though most Americans don’t know that the Democrats controlled both the House and the Senate for the last two years.

    It might take a couple of years, but things will eventually right themselves in the economy, and Democrats will claim that it is their policies that fixed things. Unfortunately, these political gains will be made on the backs of Americans who are facing unnecessary suffering"

    John Lott is the author of Freedomnomics and a senior research scientist at the University of Maryland.
     
  2. Bocephas

    Bocephas Well-Known Member

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    JBrooks,I didn't think our economy was that bad around here until Sat.

    We stopped at a local watering hole to get our numbers on the Super Bowl Pool.

    Four Squad cars were pulling up across the street.

    I said what the #ell is going on?Three locals in there said,they are evicting those people in that house, the bank foreclosed on them.

    It was sad to see thru the window.A man,his wife,and three kids.

    It made me sad and then mad,to think of all the money the big Banks received and people like this being taken out of their home in a town of 500 people.

    I agree with you on the news and politicans preaching gloom and doom.This has played a big role in putting us where we are at today.

    Bocephas
     
  3. Bruce Specht

    Bruce Specht Well-Known Member

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    It's not bad yet the democrats haven't been in office long enough to really screw things up.
     
  4. The Rock

    The Rock Active Member

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    But they have been in control of congress long enough.

    Rock

    Jim
     
  5. halfmile

    halfmile Well-Known Member

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    It gratifies me to see Hussei's approval rating going in the dumper.

    All that blab, and nothing but more BS to date. the little people get shit, the fat cats got 18 billion in bonuses so far this year.

    Nice economic stimulus. The jobs available will be gardener, maid, house boy, chauffeur.

    Dems had complete control for the last 2 years, their approval rataing went to 19%.

    2 more years of this crap, and then I hope all hell breaks loose in the next congressional election.

    Throw them all out. (but I like Jeff Sessions).

    HM
     
  6. waterhouselake

    waterhouselake TS Member

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    Low inflation? Just wait a while.
     
  7. Bruce Specht

    Bruce Specht Well-Known Member

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    The fun has just begun. I may well liquidate and put it all in the coffe can in the back yard. What's left anyway!
     
  8. highflyer

    highflyer TS Member

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    It angers me to see all these Democrat nominations in Obama's government that are known tax cheats. I have always said show me just one rich liberal that has willingly given all his money to the government then I wouldn't think they were all hypocrites. Now you find out they don't even want to pay there own fair share. And what happens when they are caught. Nothing. The government would steal our whole checks if need be but rich Democrats cover their own. I hate liberal Democrats. They are all completely phony. They are all crooks and thieves. They all want to steal the little money the average working American has for their own enrichment and power.
     
  9. H82MIS

    H82MIS TS Member

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    Heres what I just e-mailed the white house,,,,,,



    With the sleaze in Obama's regime thus far, do you really believe, that the man-child, lord messiah, the most merciful, Obama will actually listen to a voice of reason? Don't count on it. This is proving to be the most Corrupt, sleazy administration in the History of America. Tax Cheats/Conflicts of interest/Folks who have taken part in pardons for felons and terrorists. Hey, but Obama did promise change. I don't see it, but he promised it. He also promised Hope. I see only despair coming from his office. His Yes We Can Mantra, has proven to be a slogan for Yes We Can appoint the biggest sleaze bags in the History of this nation. Yes we can pull the wool over America's eyes. Yes we can turn this nation into a nation of Sheep. Yes we can turn this nation into a Socialist Nation. May God have mercy on the United States of America. A Nation in Distress!!
     
  10. highflyer

    highflyer TS Member

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    I couldn't agree more with you. This will be the most corrupt administration in our nation's history. But we all knew he was a crook when we elected him didn't we. It didn't matter because he is our fist black president and Bush was so bad it couldn't get any worse could it?
     
  11. Bocephas

    Bocephas Well-Known Member

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    Well shooters may as well buckle up and hang on for four years, it may be a bumpy ride.

    Do I like it NO.

    Who do we have to thank for putting him in the White House?

    So if Obama destroys this country,I thank Mr Bush.

    The people were so $issed off at the last President and his staff we got what we got.

    The people of this country have spoke up.

    Then we have this bulshit,YES WE CAN.

    Really,are there that many stupid people in America?

    He is now the President of America,and I have to give him my respect as same as I did George Bush.This country is no way near the point I want to flee and go to another country.This country is the Super Power of the World.When we sneeze every other country catches a cold.

    Bocephas
     
  12. H82MIS

    H82MIS TS Member

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    Bo,,we're not sneezing,,,, dude,,we got a bad case of diarrhea,,,
     
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