Epitome of Perfection Update: Obamanomics sucks

[Acebb]

[h=1]Fed Survey: A Third of Americans Say They’re Worse Off Post-Recession[/h]
The report, released for the first time on Thursday, found 34% of households said they were “somewhat worse” or “much worse” financially in 2013 compared to 2008. Only 30% reported being better off to some degree.

http://blogs.wsj.com/economics/2014/08/07/fed-survey-a-third-of-americans-say-theyre-worse-off-post-recession/

 

[Acebb]

This is surreal

[h=1]Almost 20 percent of people near retirement age have no retirement savings[/h]
The sobering statistic was one of many released by the Federal Reserve on Thursday as part of its report on the economic well-being of U.S. households, which surveyed more than 4,100 people online last year between mid-September and early October.
The study offered a stark reminder that as more Americans are made responsible for their own retirement, most are not saving nearly enough. Overall, 31 percent of people said they have zero money saved for retirement and do not have a pension. That included 19 percent of people between the ages of 55 and 64, or those closest to retirement age.
What's going on here? A lot of people said they rarely thought about retirement, at least not until it was too late. About 41 percent of people ages 18 to 29 said they never thought about retirement planning, a number that understandably declined to 20 percent for people above the age of 60

http://www.washingtonpost.com/blogs...ar-retirement-age-have-no-retirement-savings/

:smoking:

 

[Acebb]

The new normal, $400 is a lot of money

Only 48 percent said that they could easily handle an emergency expense of $400 without running a balance on their credit card. Almost a fifth said they simply could not come up with the funds, and a similar share said they would have to take on credit card debt. Others said they would either have to sell something (9 percent), ask a family member or friend for help (12 percent), or turn to a payday lender (4 percent) to come up with the money.

http://washingtonexaminer.com/youre...n-come-up-with-this-much-cash/article/2551800

;+)-

 

[Dave007inVegas]

This is surreal

Almost 20 percent of people near retirement age have no retirement savings


The sobering statistic was one of many released by the Federal Reserve on Thursday as part of its report on the economic well-being of U.S. households, which surveyed more than 4,100 people online last year between mid-September and early October.
The study offered a stark reminder that as more Americans are made responsible for their own retirement, most are not saving nearly enough. Overall, 31 percent of people said they have zero money saved for retirement and do not have a pension. That included 19 percent of people between the ages of 55 and 64, or those closest to retirement age.
What's going on here? A lot of people said they rarely thought about retirement, at least not until it was too late. About 41 percent of people ages 18 to 29 said they never thought about retirement planning, a number that understandably declined to 20 percent for people above the age of 60

http://www.washingtonpost.com/blogs...ar-retirement-age-have-no-retirement-savings/

:smoking:

Bummer for them.

 

[Acebb]

The economy is going gangbusters

[h=1]Income gap widens in Colorado and nationally as new jobs pay less[/h]
The nation has recaptured the jobs lost during the downturn and unemployment has moved steadily lower in most states.
Despite that, the income gap between the most well-off and poorest households continues to widen in most cities — a divergence that has many mayors worried.
Job gains during the recovery came largely in sectors that paid much less than those sectors where jobs were lost, contributing to a widening of the income gap in most metro areas, according to a study released Monday by the United States Conference of Mayors.
"There is a disconnect between low unemployment and an average family being able to afford to live in Santa Fe," said mayor Javier Gonzales.

http://www.denverpost.com/business/ci_26314902/income-gap-widens-colorado-and-nationally-new-jobs

 

[Acebb]

Remember this genius idea that the economic illiterate President and Harry Reid came up with?

WASHINGTON – The government’s "Cash for Clunkers" program – pitched as a plan to jump-start U.S. auto sales and clean up the environment by getting gas-guzzling vehicles off the road -- may have been a clunker itself, according to a new economic study

Researchers at Texas A&M, in a recently released report, measured the impact of Cash for Clunkers on sales and found the program actually decreased industry revenue by $3 billion over a nine-to-11-month period. Meanwhile, the "stimulus" also cost taxpayers $3 billion.

The Car Allowance Rebate System, commonly called Cash for Clunkers, was part of a 2009 economic stimulus program that was sold as a lifeline from the federal government to a sinking U.S. auto industry.

The program let people turn in their old cars for up to $4,500 in cash to be used toward the purchase of a more fuel-efficient alternative. Nearly 700,000 vehicles were traded in through the program.

But the Texas A&M University study, for the National Bureau of Economic Research, shows the program may have actually created a drag on the economy. While the program’s fuel-efficiency restrictions led to the purchase of more fuel-efficient cars, Americans ended up buying cheaper cars than they otherwise would have, the study found.

"Strikingly, we find that Cash for Clunkers actually reduced overall spending on new vehicles," the researchers reported, noting households "tended to purchase less expensive and smaller vehicles such as the Toyota Corolla, which was the most popular new vehicle purchased under the program."

They found buyers who participated "spent an average of $4,600 less on a new vehicle than they otherwise would have."

http://papers.nber.org/tmp/22808-w20349.pdf

 

[Acebb]

In the US, core retail sales increased less than expected in July, and sales in previous months were revised down. Combined with softer inventory data, these numbers lowered our tracking estimate for Q2 14 to 3.8%, below the advance estimate of 4.0%, while that for Q3 14 now stands at 2.4%, a bit below our 2.5% forecast.
To us, the more important message is that the data suggest that the consensus forecast of 3.0% or better H2 14 real GDP growth in the US may be too optimistic, echoing the trend of the past several years.
-Barclays

w-thumbs!^

 

[Acebb]

[h=1]Researchers: Unemployment rate isn't accurate[/h]
The U.S. jobs report, a key measure of how well the economy is doing, has gotten increasingly less accurate in the past 20 years. The fix for that problem could be in a surprising place: Twitter.
Those are the conclusions of two separate reports out this month. The first report, published by the National Bureau of Economic Research, found that the unemployment number released by the government suffers from a problem faced by other pollsters: Lack of response. This problem dates back to a 1994 redesign of the survey when it went from paper-based to computer-based, although neither the researchers nor anyone else has been able to offer a reason for why the redesign has affected the numbers.
What the researchers found was that, for whatever reason, unemployed workers, who are surveyed multiple times are most likely to respond to the survey when they are first given it and ignore the survey later on

http://www.cbsnews.com/news/researchers-unemployment-rate-isnt-accurate/

 

[Acebb]

Still more than 45 million on food stamps.

Every month for 3 years and counting:

http://www.fns.usda.gov/sites/default/files/pd/34SNAPmonthly.pdf


"Since I have come into office, there's almost no economic metric by which you couldn't say that the U.S. economy is better,"

 

[neverbend]

'The Executive Committee of the National Democratic Committee announced today that starting in January 2015, the organization would be known as the Socialist Democratic Committee. Spokesperson and Chairwoman, Debbie Wasserman Shultz said, “this was a change that has been a long time in the making.” “We have been considering changing the name to better reflect our goals and show solidarity with our brothers in Europe and it seemed like the time was right to implement the change.”

It is felt that the name change will make younger voters and illegals feel more at home and less confused about party affiliation. For many years the term Socialist, had a negative “feel” to it because of the failed Soviet Union, but now polls show that most voters are young enough that they don’t remember what the Soviet Union was. As for Illegals, many of them will vote and most come from countries where the term is looked on as something good, not evil. '

 

[Dave007inVegas]

'The Executive Committee of the National Democratic Committee announced today that starting in January 2015, the organization would be known as the Socialist Democratic Committee. Spokesperson and Chairwoman, Debbie Wasserman Shultz said, “this was a change that has been a long time in the making.” “We have been considering changing the name to better reflect our goals and show solidarity with our brothers in Europe and it seemed like the time was right to implement the change.”

It is felt that the name change will make younger voters and illegals feel more at home and less confused about party affiliation. For many years the term Socialist, had a negative “feel” to it because of the failed Soviet Union, but now polls show that most voters are young enough that they don’t remember what the Soviet Union was. As for Illegals, many of them will vote and most come from countries where the term is looked on as something good, not evil. '

Bernie Sanders is feeling good about himself.

 

[JDeuce]

Remember this genius idea that the economic illiterate President and Harry Reid came up with?

WASHINGTON – The government’s "Cash for Clunkers" program – pitched as a plan to jump-start U.S. auto sales and clean up the environment by getting gas-guzzling vehicles off the road -- may have been a clunker itself, according to a new economic study

Researchers at Texas A&M, in a recently released report, measured the impact of Cash for Clunkers on sales and found the program actually decreased industry revenue by $3 billion over a nine-to-11-month period. Meanwhile, the "stimulus" also cost taxpayers $3 billion.

The Car Allowance Rebate System, commonly called Cash for Clunkers, was part of a 2009 economic stimulus program that was sold as a lifeline from the federal government to a sinking U.S. auto industry.

The program let people turn in their old cars for up to $4,500 in cash to be used toward the purchase of a more fuel-efficient alternative. Nearly 700,000 vehicles were traded in through the program.

But the Texas A&M University study, for the National Bureau of Economic Research, shows the program may have actually created a drag on the economy. While the program’s fuel-efficiency restrictions led to the purchase of more fuel-efficient cars, Americans ended up buying cheaper cars than they otherwise would have, the study found.

"Strikingly, we find that Cash for Clunkers actually reduced overall spending on new vehicles," the researchers reported, noting households "tended to purchase less expensive and smaller vehicles such as the Toyota Corolla, which was the most popular new vehicle purchased under the program."

They found buyers who participated "spent an average of $4,600 less on a new vehicle than they otherwise would have."

http://papers.nber.org/tmp/22808-w20349.pdf

I remember reading a story in 2012 (may have even posted it here, in fact) that some dealerships were STILL at that time waiting for the reimbursement money to arrive from Uncle Sam. And some of the sums were significant...to the tune of half a million dollars, which is a lot for a dealer to just swallow.

There was a Nissan dealer in Santa Monica out here that closed about a year ago. They were stable and successful for a long time....had been in business since the 50s, I believe. I remember they had big Cash for Clunkers banners displayed on their lot back in in 2009...now I'm half wondering whether this had anything to do with their closing.

 

[Acebb]

HA HA HA HA HA HA

One percent of the population, in the first three years of the current expansion, took home 95 percent of the income gains.

http://www.nytimes.com/2014/09/27/upshot/the-benefits-of-economic-expansions-are-increasingly-going-to-the-richest-americans.html?smid=tw-nytimes&_r=2&abt=0002&abg=0

Remember how Obama was going to fight for the middle class?

Loser!@#0

 

[ballerhanz]

How is this a thread? We already knew he was an incompetent moron. It's like posting a thread that gravity is real. Not a commentary on you, but more of a diatribe on how Obama is incompetent and democrats are sheep. Can't be leaders, only followers.

 

[festeringZit]

How is this a thread? We already knew he was an incompetent moron. It's like posting a thread that gravity is real. Not a commentary on you, but more of a diatribe on how Obama is incompetent and democrats are sheep. Can't be leaders, only followers.

The thread is a jab at the site troll Akphidelt who spent months arguing that Obama's handling of the economy is the "epitome of perfection."

 

[akphidelt]

Obstruct and blame! Gonna be bad for awhile as long as the Retard Repubs control the House!

 

[Dave007inVegas]

Obstruct and blame! Gonna be bad for awhile as long as the Retard Repubs control the House!

If you think it’s bad now, just wait till they control the Senate also.

 

[SheriffJoe]

If you think it’s bad now, just wait till they control the Senate also.

Music to my ears - left wing loons pissing and moaning they can't impose their radical agenda on the American people.

 

[JDeuce]

Obstruct and blame! Gonna be bad for awhile as long as the Retard Repubs control the House!

Who is "obstructing" anything, retard? And considering the policies listed are all pillars of the dimocrap platform, who else is there to blame? This is your party's legislation...step up and own the results.

 

[SheriffJoe]

Classic Obamanomics quotes:

"Obamacare is working bitches!" -- aaaktard

"93% of economists agree the stimulus worked!" - aaaktard

"Obama's handling of the recession was the epitome of perfection!" -- aaaktard

"Obama will go down in history as one of the greatest presidents ever!" -- aaaktard

:laughingb Loser!@#0