http://patriotupdate.com/ar...omy-worse-than-1970s

quote The worst economic conditions in recent memory were during the Jimmy Carter era of stagflation. Stagflation was a term coined in the 1970s to describe high unemployment with high inflation. Stagflation is back. Translation: America’s middle class is getting poorer; a record number of middle class workers are out of work. If you are lucky enough to have a job, your wages aren’t going up, but you are facing higher prices for everything. “Recent data suggests that the current economic recovery is both sluggish and slowing with unemployment stubbornly high,” this from a page one story in Investor’s Business Daily. The Obama/ Bernanke partnership has been a bust. The Fed is winding down Ben Bernanke’s experiment in money printing called “QE2”. He trumpets his success saying that QE2 has pointed the U.S. economy “in the right direction.” But did it really? It turns out that QE2 has created maybe 700,000 full-time jobs, but at a cost of about $850,000 for each job. All QE2 did was create a boom in the stock market. Wall Street bankers reaped millions while the average investors barely madeback some small amount of the money that they lost during the 2008 crash. We believe this boom is an easy money mirage, as MarketWatch.com reports, “But even the stock market boom hasn’t been what it appears. An analysis shows that most of the rise in the Standard & Poor’s 500 Index under QE2 has simply been a result of the decline in the dollar in which shares are measured.Measured in hard currencies, the stock market boom has been much less impressive. In Swiss francs, the S&P has risen by just 8.4% since Aug. 27. In currencies like the Swedish krone and Australian dollars it’s even less. Measured in gold, the S&P 500 is up just 4.5%.” QE2 has had little visible effect on the real economy. Over the same period, the number of part-time workers has gone down by 600,000. In other words, we’ve basically shifted 600,000 or 700,000 workers from part-time jobs to full-time jobs. Marketwatch.com continues: “The percentage of the population in work is actually lower today – 58.4%, compared to 58.5% last August. The percentage of the work force in actual work, the so-called ‘participation rate,’ has fallen by half a percentage point.” Housing is no better because of QE2, April housing starts fell 11%. Marketwatch.com says, “Housing is double-dipping. According to the National Association of Realtors, the average price of an ‘existing’ home was $177,300 in August, just before QE2. Now it’s $163,700 – or 8% less.Economic growth has slowed. It was 2.6% last summer. It’s a miserable 1.8% now.Meanwhile inflation has risen, from 1.2% before QE2 to 3.1% now.” We all wish for better news, but Obama’s policies are pointing us in the wrong direction. Regulation of business is growing. One CEO of a mining firm we talked with said he is looking for new projects abroad. “I have been fighting for nearly a decade to open a new mine in Montana, and at every turn the government places roadblocks in my way. How am I to create any jobs?” If Obama’s tax policies are enacted then we could see marginal income tax rates of 60% in some states. Obama clings to socialism and his new programs in healthcare and welfare. They all retard growth. Unemployment taxes are at record highs in most states and this further depresses hiring. The Fed has invested nearly $2 trillion in Treasury debt since 2008. The investment hasn’t paid off, but when the relentless buying of US Treasury debt ends, we have no similar experience to guide us. One result could be even further collapse and a full blown depression.

...

Shhhhh! The smart kids are doing the best they can.
LOL

I remember some of the 70s, gas went up times 4 in a relatively short period, housing prices were climbing steady and the interest rate went way up. ( CA south bay )
If you want to see the whole thing go to heck, raise the interest rate. The tightening of the credit markets may do the trick. On my refinance of my rental, the will only give me a 70% loan when 80% was very common with 75% loan having no documentation requirement. ( I do not want to pay mortgage insurance. )

I wonder if like today, there was pockets of going to heck, and pockets of relatively good times.

Like Mark Twain said: “Facts are stubborn things, but statistics are more pliable.”

There is a difference of opinion about QE2's effect:

quote Beating a Dead QE2 I thought I had suffered through enough of these types of stories over the past six months to last me a lifetime, but apparently not. Hasn't this innocent, blameless, and very dead horse been beaten sufficiently by now? And yet... some masochistic streak in me forces me to read it: QE2 was a bust: Economic data is worse than before BOSTON (MarketWatch) — It‘s cost $600 billion of your money. And it was supposed to rescue the economy. But has Ben Bernanke’s huge financial stimulus package, known as “Quantitative Easing 2,” actually worked as planned? QE2 is being wound down in the next few weeks. Fed Chairman Ben Bernanke has said it has left the economy “moving in the right direction.” But an analysis of the real numbers tells a very different story. I've only snipped the first two paragraphs from this story, but that much is enough to contain two fundamental and oft-repeated errors which I've resisted commenting about in the past, but can resist no longer. Correction #1. You can't tell if QE2 worked by simply looking at actual economic data. Why? Because you need to compare it to something. So in order to tell the effects of any particular policy you have to compare actual economic data with what would have happened in the absence of the policy. I have yet to see a critic of QE2 attempt to make the correct comparison. Correction #2. QE2 didn't cost anything. Nothing. Nada. All that happened was that the Fed bought a bunch of long-term assets. The money didn't disappear. The Fed still has that $600 billion; it's just in the form of long-term bonds now. Oh, and then of course this column makes the other common mistakes about the Fed's purchases of long-term assets, implying that QE2 is the same as money creation (which it isn't), and that it has caused inflation (which it hasn't). Okay, time to stop reading.

70's didn't have credit cards + individual credit card debt like today (the ability to live and eat and survive (and have cable tv and cell phones other 'fluff' items even though you have no money - there's a whole lot more 'fluff stuff to own (and to increase your debt))


In the last 2 months, we've had 7 neighbors cars stripped of their tires overnight
people are sellin' metal for scrap and rooting through garbage cans for *whatever*


Not good.

quote Originally posted by spark1: Like Mark Twain said: “Facts are stubborn things, but statistics are more pliable.” There is a difference of opinion about QE2's effect:

One thing that the article seems to leave out...is that WE are paying for all that borrowing.

The government spent money it didn't have by borrowing. The loans are paying interest to someone. WE, the taxpayer, are paying that interest through the taxes we have to pay. The interest reduces the amount that can be spent on other things, and obligates us to greater government spending even if government reduces other spending. In other words, we still owe principle and interest. If nobody wants to buy our U.S. Treasuries, then The Fed buys them, and we are still paying interest to The Fed. Which leads to another question - if the government put The Fed in charge of printing our money, then why do we have to pay them interest?

All of those people who aren`t buying homes in the areas that have low home starts must be moving to central Texas because the company I work for has been building more doors for houses in the last two months than we have in quite a while.
And our lumber yard is also still supplying plenty of framing lumber.
I have been looking at existing houses for sale and they too, aren`t staying on the market for long.

quote Originally posted by htexans1: Shhhhh! The smart kids are doing the best they can. LOL

the GOP smart guys blew it big time
creating the current mess
obomba was handed a BuSh2 disaster
and has both changed direction and stopped the job loss

will the GOP ever admit their plan and policy was the cause of the recession
and stop the big lies and BS ??

------------------
Question wonder and be wierd
are you kind?

quote Originally posted by TXGOOD: All of those people who aren`t buying homes in the areas that have low home starts must be moving to central Texas because the company I work for has been building more doors for houses in the last two months than we have in quite a while. And our lumber yard is also still supplying plenty of framing lumber. I have been looking at existing houses for sale and they too, aren`t staying on the market for long.

Big oil shale boom going on in Texas right now. About 3,000 new wells being drilled.

quote Originally posted by ray b: the GOP smart guys blew it big time creating the current mess obomba was handed a BuSh2 disaster and has both changed direction and stopped the job loss will the GOP ever admit their plan and policy was the cause of the recession and stop the big lies and BS ??

And Obama made it worse, don't worry Ray, I'm sure you will still get your free cheese.

quote Originally posted by ray b: the GOP smart guys blew it big time creating the current mess obomba was handed a BuSh2 disaster and has both changed direction and stopped the job loss will the GOP ever admit their plan and policy was the cause of the recession and stop the big lies and BS ??

Have some more Kool Aid, Ray.

The sad thing is that I think you actually believe that kwrap.
What's frightening is that others apparently do too.

what donot get
is how the tea-puppets think neo-conned policys worked [when they clearly FAILED]
BuSh2 and his gang did no wrong with dereg and non-enforcement of laws
VOODOO tax cuts are not the root cause of debt
and a few ghetto dwellers caused the housing crash by themselves
and BIG LIES and spin are a good plan for recovery

quote Originally posted by ray b: and BIG LIES and spin are a good plan for recovery

Then Mr. Obama should be in good shape for 2012.

quote Originally posted by ray b: and BIG LIES and spin are a good plan for recovery

Seams to be what the present policy is.

quote Originally posted by ray b: is how the tea-puppets think neo-conned policys worked [when they clearly FAILED

Because, goddamnit, the Tea Party is trying to CHANGE THINGS. Who else is? The Democrats? LOL

Oh, never mind. You'll never believe that. Keep spouting your crap, it seems to make you happy. Goddamn self-deceived hippy.

I know leftist blame republicans and Bush for it. But they always say that President Obama is fixing the mess. I assume we need to give Obama 8-years and maybe transfer back the power of the House to the Dems to see or to allow the left to "fix" the economic mess brought by Bill Clinton's push to end the Glass-Steagall Act and Barney Frank along with his personal male love slave forcing Fannie Mae to develop the sub-prime market.

Or you can say Baby Bush and the Iraq War was the cause of the economic malaise.

I'm willing to open up 10-years for the left to run this nation's government completely to allow them to prove their ideology is a better fit for prosperity, economic growth and disciplined financial controls.

If nothing improves in that 10-years. They will have to step aside completely and allow moral capitalism and moral capitalist to run the nations government for 10-years.


Deal?

Is moral capitalism even possible? The term seems to be an oxymoron, judging from the history of unrestrained capitalism.

quote Originally posted by spark1: Is moral capitalism even possible? The term seems to be an oxymoron, judging from the history of unrestrained capitalism.

That is why the left doesn't get it. Capitalism actually has a moral component. Screwing people over, cheating, stealing and etc. that is called anarchy or leftist economics.

Capitalism is an economic system in which the means of production are privately owned and operated for profit.

What most leftist believe in is a Fascist Economic System or what is known as Dirigisme: an economy where the government exerts strong directive influence, and effectively controls production and allocation of resources. In general, apart from the nationalizations of some industries, fascist economies were based on private property and private initiative, but these were contingent upon service to the state.

want to see pure capitalism and it's results
go tp haiti
every time they tried reform
the USA sent in the marines to protect the capitalists investments

how the neo-conned dodge blame for the disaster they caused under BuSh2
is a true wonder of the modern world
hint in every other war this nation fought
taxes were raised to pay for the war during the war
BuSh2 was the only leader to cut taxes and start 2 wars without paying for them

deception and spin is all the right has
they tried their dereg and VOODOO and failed
and the tea-puppets now want to retry failed ideas HARDER
without a care as to why they failed or who gets hurt by them

quote Originally posted by ray b: and the tea-puppets now want to retry failed ideas HARDER without a care as to why they failed or who gets hurt by them

This statement, right here, proves you DON'T KNOW S*** about the Tea Party, what we want or what we stand for. Period. You have no clue, ray. Seriously, if that's what you think about the Tea Party, you really don't know what the hell you're talking about, you're just believing your own bullshit.

We're as sick of the GOP establishment as anyone. We hope to bust up that establishment, and put new people in there, people with some balls and some principles. That is, if the leftists, the leftist media and people like you don't stop trying to destroy everyone we send there, because you assume bullshit.

quote Originally posted by fierobear: Goddamn self-deceived hippy.

Awesome!
It couldn't be worse..........

quote Originally posted by Wichita: Capitalism actually has a moral component.

Say what?

There is absolutely no moral component. Capitalism is a means to make money, not make people happy. Charging $600 for a $2 part with a BMW logo on it... that's capitalism. People paying $600 for that $2 part... that's capitalism.

quote Originally posted by ryan.hess: Say what? There is absolutely no moral component. Capitalism is a means to make money, not make people happy. Charging $600 for a $2 part with a BMW logo on it... that's capitalism. People paying $600 for that $2 part... that's capitalism.

...and capitalism also means that, if you don't want to spend $60,000 for a Bimmer and $600 for a $2 part, you don't. You buy a Chevy. Or a Toyota. You get to vote with your wallet. If BMW can't sell enough $60,000 cars and $600 parts, they go out of business.

quote Originally posted by ray b: the GOP smart guys blew it big time creating the current mess obomba was handed a BuSh2 disaster and has both changed direction and stopped the job loss will the GOP ever admit their plan and policy was the cause of the recession and stop the big lies and BS ??

Ray-B... my VW Buddy...

What so many Democrats criticize Bush for, was his ridiculous spending in his last two years of presidency. What many people faily to realize is that those spending bills, and policies that Bush signed off on, were the very same bills that were created by Nancy Pelosi's house majority, and Reid's senate majority. Bush is very much to blame, but he's to blame for passing all the legislative philosophy that you and your buddies agree with. How can you be so mad at Bush for basically passing everything that the Democrats gave to him?

Wait.... Obama promised change. He was going to bring home the troops, he was going to get companies to hire workers back, he was going to save people from foreclosure... he was the messiah... the chosen one. BUT, Obama hasn't done anything except take vacations. The housing industry collapsed because of Barney Frank and other Dems. Obama bailed out failing companies with taxpayer money.... money which will never be seen again. Obama started another war, but I guess that is OK also. Maybe we should blame Bush for Libya now? Geez, liberals thinking is to blame everyone but another liberal/socialist. Ray... Obama is President, and with that comes responsibility, which he has accepted, and so should you. Blaming Bush is the easy way to show how little liberals really know about their messiah and the rest of the spend and tax dems. I wish I had a credit card I could use to spend, spend, spend on and never get a bill, as that is the Obama/Dems way of dealing with their failed policies.

Other than gas prices going up and being a shortage, I dont remember 70s being bad at all. I had tons of muscle and luxury cars to play with. It worse now than I ever remember. Someone actually stole my $10 garden hose right off the faucet Monday nite. I didnt even bother to look at my security cams for $10. Someone stole the stainless steel vents off the roof of the car wash next door. One of its customers parked in the bay to wash his truck. He walked over to the coin changer to get change and someone stole the 20' ladder off the roof. He wasnt 50' away in the middle of the afternoon. Its gonna get worse.

[This message has been edited by rogergarrison (edited 06-01-2011).]

The price of meth must be going up. Things the meth users were stealing in Eugene a couple of years ago: catalytic converters from parked cars; brass plates from memorial/historic markers; and underground wiring for bike path lighting. Our garden hose was also stolen.

I think meth and crack users are the ones to blame for the crimes described, not the economy.

Weve also had brass nameplates stolen from graveyard tombstones.