PeakTrader.com

[administrator]

PeakTrader said...

It's more accurate to say we can thank Obama for creating the Great Recession:

The Obama Growth Discount
APRIL 15, 2011

If we had matched the 1982 recovery rate, today annual per-capita income would be $4,154 higher than before the recession—that's an extra $16,600 for a family of four—and some 15.7 million more Americans would have jobs.

Had the U.S. economy recovered from the current recession the way it bounced back from the other 10 recessions since World War II, our per-capita gross domestic product (GDP) would be $3,553 higher than it is today, and 11.9 million more Americans would be employed.

Those startling figures are based on the average recovery rate of real GDP and jobs three years after the beginning of each postwar recession. Some apologists suggest that the current recovery is so weak because the recession was so deep. But the totality of our experience in the postwar period is exactly the opposite—the bigger the bust, the bigger the boom that follows.

On average, three years after the four deepest previous recessions started, real GDP was 7.6% higher than the pre-recession level. During the Obama recovery, real GDP is up only 0.1%.

---------

PeakTrader said...

If Obama cut taxes $750 billion in early 2009, i.e. $5,000 per worker for the 150 million workers at the time, whether a worker earned $10,000 a year or $100,000 a year, we would've had a V-shaped recovery.

Large tax cuts worked under Kennedy in '61, Reagan in '81, and Bush in '01. Deregulation would've also facilitated growth.

Households would've paid-down or paid-off high interest rate debt to strengthen their balance sheets, and strengthen the banking system, and increase monthly spending.

---------

PeakTrader said...

Workers at major corporations are typically compensated more than workers at small businesses.

The real problem is the rising cost of living, which is not the fault of CEOs.

CEOs help lower the cost of living, e.g. through efficiencies, innovation, invention, etc.

---------

PeakTrader said...

If Hydra was a CEO, he'd hire four people to screw a light bulb and another four people to write the instruction manual.

And when his customers complain about the ridiculously high prices of his goods, at least Hydra can say he created jobs.

Also, when Hydra's $200,000 house burns down, he'll complain that he needs $400,000 to rebuild his house from the insurance company.

Obviously, the President of the U.S. is a powerful position, especially with the support of Congress. Look how much damage Obama has done.

---------

PeakTrader said...

Hydra says: "For a lot of people, buying more toys is a higher priority than paying down debt." (etc.).

That's why we need big government to babysit us and when we misbehave, like Sarah Palin, we need to be punished harshly.

-------

http://www.blogger.com/comment.g?blogID=28997633&postID=6730652025638504515