Wednesday, April 24, 2013

The Obama Economy -- $$$, $$$$ and $$$$$

“For we, the people, understand that our country cannot succeed when a shrinking few do very well and a growing many barely make it. We believe that America’s prosperity must rest upon the broad shoulders of a rising middle class."
Barack Obama's second Inagural address, January 21, 2013.

There is a fool born every minute.  Obama thanks God for that.

It is shocking how foolish the American people are. They support Barack Obama and his policies because he supposedly promotes middle class values and has the interests of the 99 percent at heart.   The reality is totally different.  I am befuddled, perplexed, dumbfounded and dismayed by the ignorance and the gullibility of the average American. 

Obama's Money Printing Regime Works Overtime
The Pew Research Center released a new study this week which reveals the obvious – that Obama’s print (money), borrow (money) and spend (money) policy triad favors people with money -- the uppercrust. Obama is a money lever guy, not an economic leader. The money changer in chief doesn't understand or promote a value driven economy. Real exchanges of actual goods and genuine services drive value and build a strong, broad based and resilient economy and sustainable economic growth. The demand and production led economy that we should be building has attributes that reach into every household.

You don’t have to be a rocket scientist to understand that what money leveraging does is help people with money!  Let me repeat, Obama’s policies help people with money!  It’s a rich guy’s game playing paradise.  You don’t have to believe me.  Look at the data.

 Pew studied the first two years (2009 through 2011) of the Obama recovery.   Pew's top line report breaks down the recovery between the lower 93 percent and the wealthiest 7 percent. 
During the first two years of the nation’s economic recovery, the mean net worth of households in the upper 7% of the wealth distribution rose by an estimated 28%, while the mean net worth of households in the lower 93% dropped by 4%, according to a Pew Research Center analysis of newly released Census Bureau data. 
From 2009 to 2011, the mean wealth of the 8 million households in the more affluent group rose to an estimated $3,173,895 from an estimated $2,476,244, while the mean wealth of the 111 million households in the less affluent group fell to an estimated $133,817 from an estimated $139,896. 
In other words the people who had money now have a helluva a lot more, while ordinary folk are deeper in the hole.

We can see more discretely who has benefited from Obama's recovery by looking at Pew's tabular report.  

There is a clear breakpoint between the 13 percent of households that have a net worth of $500,000 or greater and everyone else.  The upper crust's average net worth increased by $335 thousand dollars in the first two years of the Obama regime while every other group fell back.   Those that were in the hole fell back even further.  Money, money, money – you have it Obama enriches you.  If you don't, best of luck.

In the world of Obama wealth disparity has not merely skyrocketed among economic groups, disparities have also soared to record highs levels between whites and blacks, and whites and Hispanics. And those poor old seniors, the folks on whose behalf that AARP incessantly whines, they are gaining dramatically compared to the young people who actually work, and incomprehensibly vote for and support Obama.

The bottom line is clear.  I hope all the Obama supporters out there are feeling prosperous, because the data show, unless you were already rich, you are not. 

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