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Muso
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PostPosted: Fri Aug 24, 2012 6:06 am    Post subject: Obama > Great Depression Reply with quote

U.S. Incomes Fell More In Recovery, Sentier Says

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American incomes declined more in the three-year expansion that started in June 2009 than during the longest recession since the Great Depression, according an analysis of U.S. Census Bureau data by Sentier Research LLC.


Choco Jesus fails on a level greater than the great depression.

Quote:
Median household income fell 4.8 percent on an inflation- adjusted basis since the recession ended in June 2009, more than the 2.6 percent drop during the 18-month contraction, the research firm’s Gordon Green and John Coder wrote in a report today. Household income is 7.2 percent below the December 2007 level, the former Census Bureau economic statisticians wrote.

“Almost every group is worse off than it was three years ago, and some groups had very large declines in income,” Green, who previously directed work on the Census Bureau’s income and poverty statistics program, said in a phone interview today. “We’re in an unprecedented period of economic stagnation.”

While gains in hourly earnings and average hours worked per week may have had “a minor mitigating effect” on income declines, they couldn’t offset a jobless rate that hasn’t fallen below 8 percent since February 2009 and a record duration of unemployment, according to the Annapolis, Maryland-based firm.

The average duration of unemployment increased to a record 41 weeks in November and remains at 39 weeks, Labor Department data show. Almost 5.2 million Americans have been out of work for at least six months.

Earnings Drop

Real median annual household income fell to $53,508 from $54,916 during the 18-month recession from December 2007 to June 2009, according to the firm’s study of income data for the 36- month period ended in June 2012. Incomes kept falling during the 36-month period since then, dropping to $50,964 in June 2012.

Men living alone experienced the worst drop in income, losing 9.4 percent, while married couples fared best with a 3.6 percent decline, the report shows. Incomes are before tax and adjusted for changes in consumer prices and expressed in constant June 2012 dollars.

“Median annual household income declined significantly for both family and non-family households,” Green and Coder wrote. “Real median annual household income declined more significantly for younger households.”

Incomes for all age groups below 65 years fell, while older Americans saw increases. Incomes for those 55 to 64 fell the most, losing 9.7 percent, followed by the 8.9 percent decline for 25- to 34-year-olds. The two gains were among those 65 to 75, whose incomes rose 6.5 percent, and those 75 and up who experienced an increase of 2.8 percent.

By education, Americans with some college lost the most, with incomes falling 9.3 percent, followed by an 8.6 percent slump for those with associate degrees, the report said. Those without high school degrees lost the least, falling 5.3 percent.

Green is a former chief of the governments division at the Census Bureau, the report said. Coder was chief of the Income Statistics Branch at the bureau, where he oversaw collection and processing of income data and developed new survey methods.

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PostPosted: Fri Aug 24, 2012 6:09 am    Post subject: Reply with quote

But it's not his fault! :roll:

Killing bin Laden, that he did. Failing to get the real unemployment rate below 15% after four frickin' years? Bush's fault.
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PostPosted: Fri Aug 24, 2012 6:20 am    Post subject: Reply with quote

BoneKracker wrote:
But it's not his fault! :roll:


The most repugnant part of that thinking (the excusing of all of his failures), is how racist it really is.

Because he's black we should let him phuck everyone over. He's trying his best! He has inherited a great challenge.... sickening. Someone so incompetent as to have blown trillions of dollars on union-thug payoffs with money taken (by force) from the productive members of society during a recession deserves nothing but absolute scorn.

But Obama has been given a pass by the childish left because.... well, why? Why is he excused for the most pathetic executive administration in my lifetime?
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PostPosted: Fri Aug 24, 2012 6:22 am    Post subject: Reply with quote

@BK
I dunno about that. I do know, however, that we have the same problem over here. Unemployment is not such a big issue, but salaries are not really going up. Factor in inflation and they're actually going down.

Edit:
Muso, perhaps he is excused all that because what you dislike in Obama is based on your personal view. There might be people who share your view, but they seem not to be the majority (or not the most vocal sort). I really can't judge if it is like you say or if he is really doing a good job and it's something rather personal between you and him.
From what news I see, I wouldn't say that he is a great president. Reminds me a bit of our Angie - doing nothing much. If he really is such a disaster - I don't know.
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PostPosted: Fri Aug 24, 2012 7:09 am    Post subject: Reply with quote

I wonder if Bush will ever be held accountable for his actions.
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PostPosted: Fri Aug 24, 2012 7:14 am    Post subject: Reply with quote

sugar wrote:
I wonder if Bush will ever be held accountable for his actions.


You mean using policies that people disliked... so Obama took them and jacked them up on steroids? Like wiretapping, GITMO, etc? Or how about Obama's kill list of US citizens? No US president, ever, has had that.
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PostPosted: Fri Aug 24, 2012 7:20 am    Post subject: Reply with quote

Muso wrote:
sugar wrote:
I wonder if Bush will ever be held accountable for his actions.


You mean using policies that people disliked... so Obama took them and jacked them up on steroids? Like wiretapping, GITMO, etc? Or how about Obama's kill list of US citizens? No US president, ever, has had that.


Did Hannity teach you that?
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PostPosted: Fri Aug 24, 2012 7:35 am    Post subject: Reply with quote

sugar wrote:
Muso wrote:
sugar wrote:
I wonder if Bush will ever be held accountable for his actions.


You mean using policies that people disliked... so Obama took them and jacked them up on steroids? Like wiretapping, GITMO, etc? Or how about Obama's kill list of US citizens? No US president, ever, has had that.


Did Hannity teach you that?


No, as I never watch nor listen to that fool... Obama's actions did.
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PostPosted: Fri Aug 24, 2012 12:23 pm    Post subject: Re: Obama > Great Depression Reply with quote

Muso wrote:
Choco Jesus fails on a level greater than the great depression.


Yes. The economy was in fantastic shape when he came to power. Not a cloud on the horizon. Bush had built up a healthy surplus. Wall Street was investing wisely in the future. Everybody owned their own homes and had expert health care.

It's a scandal. And before anyone complains, calling him Choco Jesus isn't racist at all.
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PostPosted: Fri Aug 24, 2012 12:25 pm    Post subject: Reply with quote

sugar wrote:
Muso wrote:
sugar wrote:
I wonder if Bush will ever be held accountable for his actions.


You mean using policies that people disliked... so Obama took them and jacked them up on steroids? Like wiretapping, GITMO, etc? Or how about Obama's kill list of US citizens? No US president, ever, has had that.


Did Hannity teach you that?

so are you saying those things are false?
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PostPosted: Fri Aug 24, 2012 1:58 pm    Post subject: Reply with quote

:rotflmao:

STILL trying to blame Bush.


Has the income level been adjusted into inflation? Last I've seen Reagan inherited a worse situation than we have now. IIRC, double digit inflation & unemployment greater than now. Reagan at least fixed his inherited mess.
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PostPosted: Fri Aug 24, 2012 3:58 pm    Post subject: Reply with quote

sugar wrote:
I wonder if Bush will ever be held accountable for his actions.

Look sugar. A shiny Hope and Change button.

Fetch!
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PostPosted: Fri Aug 24, 2012 5:17 pm    Post subject: Re: Obama > Great Depression Reply with quote

mcgruff wrote:
Muso wrote:
Choco Jesus fails on a level greater than the great depression.


Yes. The economy was in fantastic shape when he came to power. Not a cloud on the horizon. Bush had built up a healthy surplus. Wall Street was investing wisely in the future. Everybody owned their own homes and had expert health care.

It's a scandal. And before anyone complains, calling him Choco Jesus isn't racist at all.

Everybody knows Obama inherited a recession. So have other presidents. The problem is that he's managed the worst recovery in history, apparently because he has other priorities (and possibly because he wants the crisis to last, because it gives him greater than usual fiscal "flexibility" to spread the wealth, such as balls-out deficit spending).

The term "Chocolate Jesus" was invented by a raging liberal: Bill Maher.

It's not 2008 any more. Obama's had four years with one primary expectation to satisfy: economic recovery; and he has failed materially.
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PostPosted: Fri Aug 24, 2012 5:21 pm    Post subject: Reply with quote

Old School wrote:
sugar wrote:
I wonder if Bush will ever be held accountable for his actions.

Look sugar. A shiny Hope and Change button.

Fetch!

:lol:

I thought it was pathetic when these guys were naively supporting the inept con-man for election. But now, with four years of reality staring them in the face, now it's absolutely tragic. Then it was like, "Well, they don't have the life experience to make such a judgement", but now it's like, "Okay boys, take off your belts, take the laces out of your shoes, get in line and walk through those doors to the cult deprogramming center."
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PostPosted: Fri Aug 24, 2012 7:43 pm    Post subject: Reply with quote

BoneKracker wrote:
Old School wrote:
sugar wrote:
I wonder if Bush will ever be held accountable for his actions.

Look sugar. A shiny Hope and Change button.

Fetch!

:lol:

I thought it was pathetic when these guys were naively supporting the inept con-man for election. But now, with four years of reality staring them in the face, now it's absolutely tragic. Then it was like, "Well, they don't have the life experience to make such a judgement", but now it's like, "Okay boys, take off your belts, take the laces out of your shoes, get in line and walk through those doors to the cult deprogramming center."


:lol: :lol: :lol:

Perfect analogy.
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PostPosted: Fri Aug 24, 2012 9:28 pm    Post subject: Reply with quote

@mcgruff: You should know by now that when a conservative says something racist about a minority individual, a liberal came up with it first, and we're hoping you'll bite.
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PostPosted: Fri Aug 24, 2012 9:35 pm    Post subject: Reply with quote

Racism depends a lot on context, or who's making the comment: only a ginger can call another ginger ginger.
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PostPosted: Fri Aug 24, 2012 9:50 pm    Post subject: Reply with quote

So, does a Scottsman get mad when called a "Sweaty Porridge Wog" by an Englishman?
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PostPosted: Fri Aug 24, 2012 9:51 pm    Post subject: Reply with quote

Double-standard = FAIL
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PostPosted: Fri Aug 24, 2012 10:09 pm    Post subject: Reply with quote

No double standard. Consider: a homey asks his friend who borrowed 20 bucks: "you got my money nigger?"

Now imagine his white bank manager who loaned him $2,000 asking: "you got my money nigger?"

Context is everything.

PS: Bill Maher's full quote was: "presidents are not magicians, not even chocolate jesus." He wasn't criticising Obama but rather satirising the people who expect too much of someone they've elevated to saviour status.
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PostPosted: Fri Aug 24, 2012 10:21 pm    Post subject: Reply with quote

pjp wrote:
:rotflmao:

STILL trying to blame Bush.


Has the income level been adjusted into inflation? Last I've seen Reagan inherited a worse situation than we have now. IIRC, double digit inflation & unemployment greater than now. Reagan at least fixed his inherited mess.


Reagan? The same Reagan who raised the debt ceiling 18 times while in office? The same Reagan who was so liberal, he would never get elected as a republican today?
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PostPosted: Fri Aug 24, 2012 10:25 pm    Post subject: Re: Obama > Great Depression Reply with quote

BoneKracker wrote:

Everybody knows Obama inherited a recession. So have other presidents. The problem is that he's managed the worst recovery in history, apparently because he has other priorities (and possibly because he wants the crisis to last, because it gives him greater than usual fiscal "flexibility" to spread the wealth, such as balls-out deficit spending).


you've had gdp growth for the last 12 quarters! He's only had 2 quarters of negative growth, compared to Bush's 5 quarters!
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PostPosted: Fri Aug 24, 2012 10:47 pm    Post subject: Reply with quote

Muso wrote:
sugar wrote:
Muso wrote:
sugar wrote:
I wonder if Bush will ever be held accountable for his actions.


You mean using policies that people disliked... so Obama took them and jacked them up on steroids? Like wiretapping, GITMO, etc? Or how about Obama's kill list of US citizens? No US president, ever, has had that.


Did Hannity teach you that?


No, as I never watch nor listen to that fool... Obama's actions did.


Did Glenn Beck teach you that, while crying about how the Communists are taking over?
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PostPosted: Sat Aug 25, 2012 12:57 am    Post subject: Reply with quote

sugar wrote:
Muso wrote:
sugar wrote:
Muso wrote:
sugar wrote:
I wonder if Bush will ever be held accountable for his actions.


You mean using policies that people disliked... so Obama took them and jacked them up on steroids? Like wiretapping, GITMO, etc? Or how about Obama's kill list of US citizens? No US president, ever, has had that.


Did Hannity teach you that?


No, as I never watch nor listen to that fool... Obama's actions did.


Did Glenn Beck teach you that, while crying about how the Communists are taking over?

still waiting for an answer... are you saying that obama didn't order an assassination of a US citizen?
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PostPosted: Sat Aug 25, 2012 1:32 am    Post subject: Re: Obama > Great Depression Reply with quote

sugar wrote:
BoneKracker wrote:

Everybody knows Obama inherited a recession. So have other presidents. The problem is that he's managed the worst recovery in history, apparently because he has other priorities (and possibly because he wants the crisis to last, because it gives him greater than usual fiscal "flexibility" to spread the wealth, such as balls-out deficit spending).


you've had gdp growth for the last 12 quarters! He's only had 2 quarters of negative growth, compared to Bush's 5 quarters!

You keep fanning a breeze with your pie-hole flaps about GDP growth, but GDP growth alone is meaningless. Do you think the 23 million people who still don't have jobs give a shit about GDP growth? When you print $2 or $3 trillion new USD, you're going to get GDP growth, but it's artificial, based on currency devaluation. When you borrow and spend $4 or $5 Trillion, you're going to get real GDP growth, but it doesn't create jobs unless it is injected properly into the economy.

Obama effectively stole the $2 or $3 trillion from all present holders of US Dollars (including other countries). He then borrowed another $4 or $5 trillion, stealing it from future tax payers. Then he pissed it away on a fruitless "stimulus program" that was never intended to stimulate the economy at all, but to keep the Government nice and fat, and even grow it, despite drastically reduced tax revenues, and to effect massive wealth transfer. His anti-business policies and rhetoric have draw out the recession, and his fake stimulus program barely made a dent in unemployment.

The U.S. government's decades of dick-ass social mismanagement led the world into this recession, and the U.S. has a responsibility to help lead the world back out of it. Instead, he chose this as an opportune time to fuck the entire Human race over in exchange for an all but entirely failed attempt to shift the U.S. incrementally to the left.

Also sacrificed on the altar of this hapless stumble in the general direction of "social justice" are more of our rights, as we now have the most corporatist and authoritarian regime this country has ever seen.

What has he accomplished? Almost nothing of any importance. What has he fucked up? He tried to juggle a lot of big balls, and he dropped every single one of them. The economic recovery, the war in Afghanistan, Guantanamo and human rights, climate change, health care reform... the oil spill.. all fucked up. That, and a laundry list of broken promises and lies (transparency, bi-partisanship, lobbyist influence, campaign finance reform, improved financial regulation, green energy, etc., etc., etc.).

"Yeah, but he killed bin Laden." :roll:
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