Before you begin to mention the grandiose gains in the stock market since Obama took office, bear in mind a few things.
1. The Federal Reserve lowered interest rates to zero percent, making bonds and interest bearing accounts untenable for retirees, effectively forcing people into stocks. Also, the Fed’s balance sheet went from ~$750b to $4.5t over that time frame — rigging both equity, currency, and bond markets over Obama’s entire 8 year term.
2. Due to the financial crisis, drastic measures were taken to transfer the risk from the banks onto the national balance sheet. Moreso, in order to prevent the economy from slipping back into recession, the Obama administration underwent a methodical process of deficit spending that kept the economy artificially afloat. The side effect of this reckless spending was an additional $9t in debt added to America’s balance sheet.
Fun fact: Obama accumulated more debt in his 8 years as President than all previous President’s combined.
Typically, coming off wretched economic growth, as we endured under Bush, the economy would snap back fiercely and register some impressive numbers. But that never happened under Obama, for a variety of reasons — namely because his administration opted for a Frankenstonian approach to economics that resuscitated and kept it artificially afloat, in order to progress an aggressive socialist agenda wrought with public entitlements and high taxes.
The net result, as the numbers show, was extreme failure — judged solely by ROI. As a nation, we stimulated the economy with more than $13 trillion in debt and Federal Reserve market interference, and yet the Obama years will forever be remembered as the only administration since Hoover to not grow the economy by more than 3% during his entire 8 year term.
I don’t want to credit him with managing a masterly plan that brought us down. I vote complete incompetence.
If Obama was such a bad president then why wasn’t he impeached?
That’s easy…..first black president
You knew going in he was in for life
He could have started world war three and the media would have backed him.
History will be replete With Barry’s failures to this country and to Black Americans.
If you take the 14,000 high of the DOW toward the end of 2007 before the initial down turn to the beginning of 2017 (9 years) and figure a modest 4% compound growth the result is DOW 19,926. When Obama left office on Jan 20th, the DOW opened at 19,795. That’s hardly a grandiose gain, in fact it’s sub-par at best.
Obama’s economy just be shufflin’ along.
Yeah, I was trying to be racist with my comment.
Actually, his economy is the worst since 1932.
Not to mention the weather. Worst weather in U.S. history since Ulysses S. Grant’s administration!
🙂
I compare(not favorably!) Obama to the strong black men portrayed in the movie “Hidden Figures”, a true story about the smart black women mathematicians who worked at NASA in the 60’s and 70’s. I reference the strong black men (their husbands) because the black family was strong and middle class and the husbands backed their wives up 100%. Excellent movie!
If you can ever get anyone in the general media or financial media to discuss Obama’s economy, they MIGHT grudgingly call it the Great Recession. But the truth is that is a fucking Depression. That’s why I call it the New Depression. It’s a great way to lump it together in people’s minds with Democrat Frank Roosevelt’s Great Depression and the “New” subliminally lumps it together with Frank Roosevelt’s failed New Deal program. Hey evabody, it’s a two-fer!
And if some leftist Democrat asshole tries to blame the New Depression on Bush, the FACT is that the New Depression was brought on by the housing market crash that began in Florida in late Summer 2005 and spread to the rest of the country by 2007-2008. And the housing crash was directly caused by the CRA Community Reinvestment Act, a heinous piece of shit legislation that was enacted by Democrats in Carter’s malaise-ridden reign of terror and strengthened during Rapist Clinton’s reign of terror.
new slogan “THE DEMOCRAT PARTY – Fucking Things Up Since 1820”