US economy has shrunk by 2.9% last quarter
 

http://online.wsj.com/articles/u-s-g...ter-1403699600

Gross domestic product, the broadest measure of goods and services produced across the economy, contracted at a seasonally adjusted annual rate of 2.9% in the first three months of the year, according to the Commerce Department's third reading released Wednesday. That was the fastest rate of decline since the first quarter of 2009, when output fell 5.4%, and matches the average pace of declines during the recession.

I keep hearing people saying that the economy is getting better, where do they get their information?

I knew I could count on you to take this and make into a huge thing.

http://www.rochardsbunnyranch.com/rock/jerk.gif

We've had five years of economic growth and we had one bad quarter and your panties are all in bunch?

Thanks Obama

That is how it work in republican camp.

I've always been inclined to direct my anger at those who actually cause a problem as opposed to assigning the blame to the repair crew.

Your mileage clearly varies.

http://finance.yahoo.com/blogs/daily...172130204.html

A new study published by the Russell Sage foundation helps explain why many families feel like they?re falling behind: They actually are. The study, which measures the average wealth of U.S. households by income level, reveals a startling decline in wealth nationwide. The median household in 2013 had a net worth of just $56,335 -- 43% lower than the median wealth level right before the recession began in 2007, and 36% lower than a decade ago. ?There are very few signs of significant recovery from the losses in wealth suffered by American families during the Great Recession,? the study concludes.

So please, enlighten us and show us where the economy is getting better?

I'm inclined to blame those that say it's getting better when it's clearly not. I can blame the last guy for starting it, but it won't do any good as he's not in office any more and can't do anything. The guy in office won't do anything.

can we change the board name to "Whining about Obama & program discussion"?

You don't think fucking around covers that?

Only reason I posted this is because Rochard is always saying the economy has got better, I show him proof that it has not and then the excuses start.

I'm fucking around with Rochard who says I'm on ignore, but always answers.

And I'm not the first one to mention Obama in this thread

Oh my look people Vendillza is right the one bad quarter in 4 years is all the proof we needed. I mean we "finally get it" Obama, Obama, Obama.. It's the end of the world folks, back your bags and head to Mexico.. It's over..

not anymore

Sure, let me explain it to you. I'll type slow to help you understand.

Your article says:
The median household in 2013 had a net worth of just $56,335 -- 43% lower than the median wealth level right before the recession began in 2007, and 36% lower than a decade ago.

The article says we are down since the recession. Of course, the recession wiped us out in 2007-2009. Since then we've been getting better.

You are here whining about five years of economic growth. I know you hate Obama, but man, face reality already.

Obama was given a Democrat-majority Congress upon winning the White House in 2008. He got a $787 billion stimulus, a $410 billion omnibus, health care reform, financial regulation reform, and a jobs bill passed within his first 2 years in office, along with increments of quantitative easing from the Federal Reserve.

Every time there has been a recession, there has been a recovery, the worse the recession, the faster the recovery. Under Obama, we still have not recovered completely.

http://www.forbes.com/sites/peterfer...t-president/2/

You don't like being called names? Don't talk down to me shit for brains!

Anyway,i dont think politics influence economy too much if people are innovative enough,i concluded that when seeing how some countries are still in good standing despise having also bad and corrupted politicians.

Let me explain this better. I will do this using apples.

http://serenapoon.com/blog/wp-conten.../applebite.jpg

You spend your entire life collecting apples for your retirement, and you've collected 100 apples. This is called your "apple net worth". But the recession comes and you loose 60% of your apples, and now your apple net worth is "40 apples".

As the economy gets better you start collecting more apples again. After a few years you've collected another ten apples, bringing your apple net worth to 50 apples.

You still have less than 100 apples, which makes your apple net worth look smaller. However, the truth is you have ten more apples than the forty you had a few years ago, thus your apple net worth is up.

And the end result is we have five years of economic growth.

Our net worth is also up, as is our median income.

Oh, you are gonna love my post about the apples!

Corrupted is one thing, this is different.

Business's just think this is not a good time to expand, that's one of the reasons that Obama delayed the employer mandate for Obamacare with a executive order.

Regulations have killed so many business's here in California and it keeps getting tougher.
People are making less, yet I just heard that out in the desert near here, they just added a $150 fire tax on all buildings on your property. This is not an increase, it's a new tax! This is happening all over the place.

under Reagan it was worse and it recovered in 28 months and kept growing, we are at 5 1/2 years now and still haven't recovered completely. Too many people are underemployed

LOL, Median income is down as a whole under Obama, show me where you are getting your bullshit news from!

Sure.

http://www.nytimes.com/2013/08/22/us...peak.html?_r=0

So you claim how it was better during Schwarzenegger era ?

No it wasnt, the banking system almost collapsed. Thats not the president that's wall st telling big corp what to do.

I guess you don't understand sarcasm?

I hope you see where your post says it's down 6%?

Oh Really?

Do you know what increments of quantitative easing from the Federal Reserve is these days?

Last I saw it was still 85 billion a month!

Apparently According to your train of thought, the banking system is still almost collapsing, I mean why would we continue to give the banks that much money. Or maybe that much money to GM, we got a bunch of recalled cars for that little investment!

Never said that, I never will.

That statement I made was Sarcasm

Yes. Let me explain this again with apples.

In 2006 you have 100 apples. In 2007 you have 40 apples because of the recession. In 2012 you have 60 apples.

You are still down from 2006, but up from 2007.

Eyes. Open. Click.

Funny how when Bush was president idiot right wingers kept claiming the president has nothing to do with the economy.


http://savagehenrymagazine.com/wp-co...sh-640x330.jpg

This is no shock to me. A little while back I read that during the recession 60% of the jobs that were lost were what they called middle income jobs. This means jobs where the people made somewhere between about $18-$35 per hour. The rest of the job losses were split pretty evenly between lower paying and higher paying jobs.

Since the recovery began only about 20% of the new jobs created have been middle income jobs. About 20% of them have been higher paying jobs and about 60% of them have been lower paying jobs.

There are a ton of people out there that lost a job that they could live a decent life on and have had to take a job that makes much less.

I dunno why people continue to argue with him. You are never going to prove anything to him because he will never accept any proof that does not go along with what he thinks he already knows.

Just point and laugh or ignore him all together, trying to reason with him will never get you anywhere because he's unreasonable. He lives in a very Red vs Blue world in which anything that is blue is bad and anything that is red in good.

Well maybe then problem is too big to be resolved by a common politician.

We have had many presidents that have risen to the occasion, this is seems is not one of those times.

Yes Bush got us in a mess, most of which was after his hands were tied by a democrat controlled congress that started 17 months after the recession started.

I was watching Jon Stewart a couple weeks ago about this subject, he was the one that kept bringing up that the new jobs generated were lower paying jobs, where other fields were losing jobs that paid higher wages.
This country has not been expanding on better paying jobs like it should. But hey, walmart is doing fine......

So what you are saying is that you work on an apple cart?

"The average family," he said in the March 8, 2014, weekly Republican address, is "now bringing home $4,000 less than they did just five years ago."

http://www.politifact.com/truth-o-me...rning-4000-le/

BTW, this is 2014, try to keep up!

The crazy thing is that many of the companies that went out of business during the recession are making a comeback either by re-opening or new companies taking their places. However, since they are starting over they are doing it offshore. So these companies are making nice profits, the stock market is going strong. Wall street is awash in money, but the middle class is still struggling.

I don't drop all of this on Obama. I think this is the result of 20+ years of different polices from different administrations finally coming to a head.

I work from home and I need the amusement.

It's the result of all of them over time, but Obama is saying just the opposite every time he gives a speech. And he is offering up no solutions.

One of the major things I blame is NAFTA, Hillary during her campaign in 2008 said it needs to updated, well that has not happened.
And why was China given a favored trade status in the first place?

Are you sure about this?

I know you like to cherry pick your stats, but if you read the article (and the disclaimer) and then follow it all the way through to the spreadsheet.... You discover that in 2007 the average wage was $61,355 and in 2012 it is $62,241. That's median income. If you do mean income in 2007 the average was $78,845 and in 2012 it's $82,843.

Seems to me that in both cases - mean and median averages - income is up in 2012 compared to 2007. Of course, this does't fact in 2013.

Keep in mind that while our economy should be the number one concern the Republican party is doing everything it can to fight the President on every issue possible - this morning they announced they were considering sueing him.

All new manufacturing giants and jobs are all setting up shop in China.

China is a land rush for new slaves working at slave wages. American's can't compete.

When America was first set up, WE were the new land rush for new businesses because we had all the slaves. Sad, but true. We got so big, we told Britain to fuck off.

Now, China has got the goods. Cheap slave labor. The new business land rush is moving to China. Follow the slaves to follow the money.

In 200 years, USA will be the new Mexico. America will have 2 classes only, The extreme rich, and the extreme poor.

Blame ourselves for allowing our government to be controlled by corporations and allowing our money and jobs to be outsourced over seas. When the supreme court voted and made it legal for corporations to 'donate' money to politicians thru super pacs, the corporations took control of our government by the balls. It's a free for all.

We are no longer in control of our country. Corporations run the show. Your "vote" for the next president is something they let us do, so we feel that we are still in control and we live in a democracy. The older you get, the more you will realize how meaningless it is to vote. 100% meaningless.

It doesn't matter who sits in the presidents seat. The national debt keeps going higher and higher and jobs and corps are all bailing out moving to China. This is a simple evolution that can not be stopped. It will never stop.

The funny thing is, China is a communist nation. We seem to forget that while looking at profits.

After we move the remaining large corporation bases over to China, and America finally goes bankrupt because we can't borrow any more money to cover our social security debts, China can overthrow America by seizing all American manufacturing businesses on Chinese soil. China doesn't have to go to war with America to take it over. China will simply absorb all our major businesses and control America. It's a long slow process but the Chinese are brilliant with long term goals. Americans only think about the next 15 years, The Chinese think about the next 500 years. China will own all our businesses soon enough and lay us to waste.

Americans are nothing but consumers and 52% of All Americans are on some type of medication. It's only a matter of time before our nation collapses because nobody does anything about anything as long as we have TV, free porn and our meds.

There's a good reason why China blocks porn and internet from the people. Slaves can't work if they can masturbate 3 times a day like Americans do.

From Damian and Relentless. ;)

From the link I posted if you had bothered to read

For the inflation-adjusted mean, family income fell from $87,312 in 2007 to $82,843 in 2012, the most recent year available. That?s a drop of $4,469, making Portman correct. In fact, he underestimated a bit.

The difference is even more stark if you use the inflation-adjusted median. By that measure, family income dropped from $67,943 to $62,241 over the same period. That?s a drop of $5,702 -- an 8.3 percent decline over five years.

yea i was wondering as well.

furthermore, there has been a boatload of money printing in that period, all sent offshore.. so the real inflation hasn't had much of a chance to cause much notice for US based dollar value

It's a communist government yes, but not their economy

I liked the people there

I'm sure republicans could fix it with a good dose of trickle down economics.

Stop cutting and pasting what someone else wrote. Look at the spreadsheet. Look at the spreadsheet they posted.

It's always easy for the other side to say "We could have done better".

Come to think of it, why haven't they done better? Maybe if Congress would spend more time doing it's job and less time filing fucking lawsuits maybe we would have been much better off.

Any president could fix it better than our present leader.

Every recession since the great depression has had a recovery, no president has seen a slower recovery than Obama. I posted a link earlier about that.

http://www.forbes.com/sites/peterfer...t-president/2/

Reagan had a recover that lasted 28 months to get back all the jobs that were lost. Even the great depression took less time.

Come on now, do you really think he is capable of any original thought, that isn't spoon fed to him by some right wing talking head. Have you ever seen him post a original thought that wasn't a right wing talking point? His very signature is lost on him, yet he wears it proudly as if it somehow makes him look intelligent.

He is nothing more than a worker bee drone that follows with a hive mindset. He might as well just be saying.. Hordor over and over again.