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Title: Suggestions For Surviving The Obamaconomy
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URL Source: http://morganj428.blogspot.com/2010 ... for-surviving-obamaconomy.html
Published: Apr 16, 2010
Author: morganj428
Post Date: 2010-04-16 09:06:20 by no gnu taxes
Keywords: None
Views: 248
Comments: 22
As we all try to learn how to navigate the Obama economy, there have to be paradigm shifts in many of our plans. Even the Obama administration has been telling us that they expect this to be a "jobless recovery" whatever that means. They are warning us that this might be the "new economy" where 10% unemployment is the new "normal." With the policies that this administration is applying they may well be right, hopefully they aren't being simply overly optimistic. There are some things that suggest that soon we will look back at 2009 as the good old days economically. If Obamacare passes Constitutional scrutiny in the Supreme Court, it is going to cause our taxes, and expenses both personally and our businesses to increase dramatically. If Cap and Trade passes, even Obama has said that it will cause our electric rates "to skyrocket necessarily." The consensus is that the average American family would see somewhere between a 1,700.00 and 3,500.00 energy tax increase per year. Then you add a Value Added Tax (VAT) would cause all food and manufactured goods to jump 18-25% in cost due to these "hidden" taxes. The news today has shown us that home foreclosures are setting all time records. Do you remember what happened with less foreclosures in 08? We are hearing how Obamacare is causing companies large and small to have to write down huge losses this year already, and expect to look to start shedding more jobs due to these added costs. If Obama's new "Financial Bill" passes it will cause banks to quit lending if they are to be forced to write down principle on loans, who would take that risk? There are many in the Health Insurance industry who believe that many if not most of them could well be bankrupt in 24-36 months under Obamacare. When you look at the unemployment rates today hovering around 10% under today's new way of counting started under Bill Clinton. If we used the old way of counting before the Clinton Administration's changing the accounting rules, it would be between 17-20% when considering those who have run out of unemployment insurance or who have given up looking. How does that compare to the Great Depression? Unemployment During the Great Depression: 1930: 8.7% 1931: 15.9% 1932: 23.6% 1933: 24.9% 1934: 20.1% 1935: 16.9% 1936: 16.9% 1937: 14.3% 1938: 19.0% 1939: 17.9% This also proves that FDR's New Deal big government programs didn't work, just prolonged the Depression, just as Obama's are. Then let's look at some basic math. Under Jimmy Carter his 24 months of deficit spending caused the Fed to have to print 13% more money into the system. This increased money supply caused 12% inflation, to correct that high inflation Paul Volker and the Fed raised interest rates to 21% to pull that excess cash back in. During Obama's first year, his deficit spending has cause the Fed to increase printing money by 120% in just one year. What does that mean to coming inflation and interest rates? Can anyone say Wiemar Republic? What I have been telling Realtor and Lender friends who have been telling me their fears and concerns is "you have a good opportunity with a paradigm shift." Most Realtors and Lenders most love their jobs because they get to help people get their dreams. It is normally a very happy time as people anticipate moving into the new home. However, today, more and more the people at the closing table are not all that excited. If however, the Realtor and lender thinks like a stock broker where you get your fees per transaction if their investor makes money or loses money. There is going to be a massive amount of REO and HUD as well as short sale homes for the next several years. These homes will find buyers, bargain hunters, and investors who see them as rental opportunities or possible flips. As a Realtor and Lender there is still commissions to be made. There are many people who have done a good job being prepared for this down turn keeping financially liquid who are going to become wealthy out the other end. During the Great Depression those who had the cash to buy up properties for pennies on the dollar became fabulously wealthy. If there is anything to take from this, it would be to find fun in figuring out a way to succeed if the process is fun or not. If we can turn this administration out of office and strip the programs funding we can turn things back around and have a prosperous country once again. Now is the time to hunker down and find our living and fun where we can, with hopes and dreams of better days to come!
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#1. To: no gnu taxes (#0)
FDR became President in 1933, your own numbers show that unemployment peaked in 1933 and fell significantly afterwards. I don't understand the argument that falling unemployment means that his programs didn't work.
Being a Republican means you get to choose your own reality.
They didn't. If they did, it would be known as 'a depression' not 'THE GREAT DEPRESSION'. None of FDR's actions helped end it. The current Fed Chairman has said as much, btw. In fact its pretty well known FDR's actions, and the Feds actions MADE IT WORSE, and prolonged it. Being a Democrat means ignoring Reality, as this demonstrates.
my anti groupie can't get through life without me.
Unemployment never got below 14% throughout the decade of FDR's wonderful economic program. It was back up to 20% in 1938. It was 8.7% in 1930 and, I believe around 3-4% throughout most of the 20s. Please explain how you think his economic program was in any way a success. Compare FDR's recession and the methods used with those of the 1920 recession and the methods used and the result. You may feel free to slink away in embarrassment.
In short, the Liberal God FDR screwed up royally.
my anti groupie can't get through life without me.
Unemployment fell during the FDR's first term, Boof. What EXACERBATED unemployment was the drought that hit the midwest and caused the dustbowl conditions. UNless you believe that FDR controlled the weather, which wouldn't surprise me.
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
I've had this out with Bigot Boy before. Just like Boof with Fox News...he doesn't believe what all else can plainly see.
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
You might want to listen to what FDR's own Treasury Secretary claimed about the policies. Did Fox News get to him, too? -- FDR Treasury Secretary Henry Morgenthau admitted the New Deal had failed. “We are spending more than we have ever spent before and it does not work,” he declared in 1939. “We have never made good on our promises...I say after eight years of this Administration we have just as much unemployment as when we started...And an enormous debt to boot!”
Hey now, what would Treasury Secretary Morgenthau know about it, compared to our rocket scientists HERE TODAY? (chuckle) Even Bernake has stated FDR and the Fed fucked it up back then, and made the Depression worse, and longer lasting because of the policies enacted by both.
my anti groupie can't get through life without me.
The recession of 1920 had the potential to be a very bad one, yet you never hear about it. Why? Government did nothing but cut taxes and spending and the economy was fully recovered in less than a year.
WRONG. What Bumbling Ben said of the Fed was that it erred at the onset of the crisis when it pulled back liquidity rather than provided it. He said nothing of the sort regarding FDR. As for Morgenthau, he made his reference in 1939 which was a couple of years after the Supreme Court derailed much of the New Deal. He was singing a different tune about it a year later.
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
I know. The MSM has spent decades pretending/hiding the recession of 1920, because it counters this fucking MYTH that FDR's 'New Deal' worked. Then again, the media of FDR's era went to great lengths to hide all kinds of things about FDR, like his frailty, the bizzaro world affairs he and his wife engaged in throughout his time in office, the fact he repeatedly violated the Constitution across the board, tried to stack the Supreme Court...etc etc etc. It was so bad they passed the amendment after he died to ensure we'd NEVER have another 'benevolent dictator' again as President.
my anti groupie can't get through life without me.
And as far as what Mr. financial genius wants to claim about the dust bowl, that had been going on for years before FDR took Office. But I'm sure he does blame Hoover for the weather.
Please Boof...you and Bigot Boy can stroke each other off by misquoting/reading history all that you want to but please do it in the privacy of your peep show booth. A) The recession was caused by an influx of soldiers coming home from war and a realignment of a war economy into a peace time economy. B) Monetary policy was EASED during the period, not tightened as it was in 1929. C) The Harding Adminstration, when it came to power in March of 1921, established a job programs to help assimilate the returning soldiers now workers. Ironically, the committee charged with adminstering the program was headed Herbert Hoover. D) The tax cuts were instituted AFTER the recession was over.
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
Is that seriously the best you can do? Sigh...
Being a Republican means you get to choose your own reality.
UCLA economists Harold L. Cole and Lee E. Ohanian assert that but for New Deal anti-free market measures, the Depression would have ended in 1936. In a paper for the Federal Reserve Bank of Minneapolis, they observed Roosevelt believed excessive business competition led to low prices and wages. Therefore, FDR “came up with a recovery package that would be unimaginable today, allowing businesses in every industry to collude without the threat of antitrust prosecution and workers to demand salaries about 25% above where they ought to have been, given market forces. “The economy was poised for a beautiful recovery, but that recovery was stalled by these misguided policies," Cole said in separate comments. Other economists, including Nobel Laureate Robert Lucas Jr. and the late Leonard Rapping concluded that the steady expansion of the money supply, but for FDR’s influence, should have ended the Depression in 1935. And for all the talk about the uplifting effect of his “fireside chat” pep talks on the common man, he scared away those he needed to reassure most -- those with money to invest -- with his blame-business rhetoric and his incessant new economic experiments. The market abhors uncertainty; the New Deal was uncertainty incarnate.
According to what you posted it was 24.9% in 1933 when FDR took office. It was 17.9% by 1939, again, according to what you posted. So you are in effect telling us that a 7% drop in the unemployment rate proves that his programs didn't work. OK, good luck with that one.
Being a Republican means you get to choose your own reality.
Is that all you can add? (laughing) no surprise here.
my anti groupie can't get through life without me.
Over the course of five years, compared to the money spent? Thats horrific performance, GO65.
my anti groupie can't get through life without me.
Let me jump to Boof's defense here and state, unequivocally, that he could do WORSE if you want.
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
Your baseline for comparison is what, Boof?
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
Mostly by the deflation caused by an ending of war time production but so what? The cause isn't the issue -- the issue is what to do about it. You think massive government intervention is the answer; this clearly proves it is not. Monetary policy was EASED during the period, not tightened as it was in 1929. Not until the end of 1921, when the recession was already over. C) The Harding Adminstration, when it came to power in March of 1921, established a job programs to help assimilate the returning soldiers now workers. Ironically, the committee charged with adminstering the program was headed Herbert Hoover. Any such jobs program is nothing but a footnote on the matter. This is more goodwill than any kind of economic stimulus program. D) The tax cuts were instituted AFTER the recession was over. Harding's first order of business was to cut taxes and the private sector responded.
If Bernake had been alive in 1881 he would have just been another crooked Faro bank shot in a gunfight over cheating at cards. However I do agree that FDR made the depression worse and and I believe DELIBERATELY SO. FDR was Just another of the three bloody handed "PROGRESSIVES" that faught each other in World War II.
This also proves that FDR's New Deal big government programs didn't work, just prolonged the Depression, just as Obama's are.
#2. To: go65 (#1)
#3. To: go65 (#1)
FDR became President in 1933, your own numbers show that unemployment peaked in 1933 and fell significantly afterwards.
#4. To: no gnu taxes (#3)
#5. To: Boofer, go65 (#2)
They didn't. If they did, it would be known as 'a depression' not 'THE GREAT DEPRESSION'.
#6. To: go65 (#1)
(Edited)
#7. To: war (#6)
#8. To: no gnu taxes (#7)
#9. To: Badeye (#8)
#10. To: Badeye (#8)
Even Bernake has stated FDR and the Fed fucked it up back then and made the Depression worse, and longer lasting because of the policies enacted by both.
#11. To: no gnu taxes (#9)
The recession of 1920 had the potential to be a very bad one, yet you never hear about it. Why? Government did nothing but cut taxes and spending and the economy was fully recovered in less than a year.
#12. To: Badeye (#11)
#13. To: Boofer (#11)
(Edited)
know. The MSM has spent decades pretending/hiding the recession of 1920, because it counters this fucking MYTH that FDR's 'New Deal' worked. I
#14. To: Badeye (#2)
They didn't. If they did, it would be known as 'a depression' not 'THE GREAT DEPRESSION'.
#15. To: war (#13)
#16. To: no gnu taxes (#3)
Unemployment never got below 14% throughout the decade of FDR's wonderful economic program. It was back up to 20% in 1938. It was 8.7% in 1930 and, I believe around 3-4% throughout most of the 20s. Please explain how you think his economic program was in any way a success. Compare FDR's recession and the methods used with those of the 1920 recession and the methods used and the result.
#17. To: go65 (#14)
#18. To: go65 (#16)
#19. To: go65 (#14)
Is that seriously the best you can do?
#20. To: Boofer (#18)
(Edited)
Thats [sic] [a] horrific performance, GO65.
#21. To: war (#13)
A) The recession was caused by an influx of soldiers coming home from war and a realignment of a war economy into a peace time economy.
#22. To: Badeye (#8)
(Edited)
The Fed EXPOSED!!! The FARO RESERVE BANK!!!
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