This article points what you have heard from me for the last few months … this economic recovery is a failure. And Obama owns the economic recovery. He is trying to claim that the Republicans are sabotaging his recovery, but that is a lie since the Democrats hold/held the Senate, hold/held the White House, and held the House of Representatives. The economic failure right now are from Obama actions.

The 2% growth to GDP is all from increased prices and not from any increased product volumes. And since inflation to energy and food are actually lots more than the 2%, this economy is actually in a reduction of product volumes when inflation is subtracted from GDP growth … which is a recession.

GDP growth after most recessions has been more than 10%. Obama is a failure.

And why?

Even though this may be redundant, it is because this administration wasted money … trillions of dollars. It focused on financial tools to boost stock prices rather than on product volumes to increase jobs. It spent it on services and government employees (especially teachers) rather than on products made in the USA which would utilize the manufacturing multiplier effect. Obama refused to allow for more oil drilling which is now exacerbating gas prices and draining more money from the economy. Gas prices were $1.87 per gallon when Obama took office. And Obama has not addressed the number one root cause to decreased demand for products and houses which is the low birth rate to white folks for the last 40 years.

Because of the lack of business experience in Obama and his staff, he continues to make lots of mistakes … some on purpose like with Obamacare .. and some because he is economically stupid (what were his actual grades in college?). He is a failure. His presidency is a failure in affirmative action.

Obama has been rewarding Wall Street, insurance companies, and unions (especially teachers) for their large contributions to his campaigns as he continues to kill the economy in the process.

http://townhall.com/content/af9bfda1-858f-4d7b-a4b1-e00f72530889

This article points out 3 things:

1. Obama lied again. He lied about oil production.

2. There is an underlying root cause to the economic problems that cannot be cured by financial means. Could it be the declining number of consumers and workers between the ages of 40 and 55? It does not get better until 2022. Then it falls again by 2030 because of the current low birth rates.

3. The economy is not getting better even though GDP is technically better. The increases to GDP are inflation and oil price driven. A 2% increase to GDP does not cover the increases to gas and food and it is not in keeping with the 10+% increases to GDP of previous recoveries. The economy continues to be in trouble. Stock prices are up because of more printed money and low interest rates … not because of economic improvements.

What happens when the Fed finally raises interest rates to fight the inflation caused by increasing food prices (especially those dependent on corn like live stock and milk), by increasing gas prices, by the increasing debt, and by printing too much money?

The sharks are about to eat you – again
Posted: May 11, 2011
1:00 am Eastern

By Michael Master

Read more: The sharks are about to eat you – again http://www.wnd.com/index.php?fa=PAGE.view&pageId=297349#ixzz1M6FfG2Gx

Stocks were little changed on Friday with the Dow on track to post…
Read More: http://www.reuters.com/article/2011/01/28/us-markets-stocks-idUSTRE70G3AB20110128

January 3rd 2007 was the day the Democrats took over the US House of Representatives and the US Senate at the start of the 110th Congress. This marked the first time that the Democratic Party controlled a majority in both chambers since the end of the 103rd Congress in 1995.
For those who are listening to the fallacy that everything today is “Bush’s Fault”, think about this:

On January 3rd, 2007, the day the Democrats took over the Senate and the Congress:

The DOW Jones closed at 12,621.77

The GDP for the previous quarter was 3.5%

The unemployment rate was 4.6%

The US deficit was below historic norms as a % of GDP

The USA, based on George W. Bush’s economic policies, had just SET A RECORD of 52 STRAIGHT MONTHS of JOB CREATION!

Then on January 3rd, 2007 Barney Frank took over the House Financial Services Committee and Chris Dodd took over the Senate Banking Committee.

15 months later we experienced a meltdown of US BANKING AND FINANCIAL SERVICES!!!

PS: from 2001 through 2008, George W Bush asked Congress 17 times to increase regulations on Fannie & Freddie – stating current policies with regard to both were financially risky for the US economy.

PPS: Republicans have controlled the Senate for all the increases to employment over the last 18 years (23 million new jobs). Democrats have controlled the Senate for all the decreases to employment over the last 18 years. Democrats have controlled the entire Congress for the last 4 years (loss of 7 million jobs).