THE DISAPPEARING MIDDLE CLASS: THE FAILURE OF OBAMANOMICS AND THE RISE OF BERNIE SANDERS, DONALD TRUMP AND ECONOMIC NATIONALISM

Obama says efforts to grow domestic economy have worked - UPI.com

An economic illiterate
totally clueless on the economy, and practically everything else.
 

Obama praises 6 years of job creation, revived economy

"Our businesses have created jobs every single month since I signed that job-killing [Affordable Care Act]," President Obama quipped.
 
 

While Obama never tires of congratulating himself on the progress that he's made in fixing the economy (that he falsely claims to have rescued from a near depression) both Hillary Clinton and Bernie Sanders are running on campaign platforms that say otherwise-that the economy is far from fixed and getting measurably worse. In debate after debate and speech after speech both bemoan the worsening  tragedy and crisis of the "disappearing middle class" but without tying it to Obama's failed policies and leadership. Indeed, the combination of a poor, pathetic, trickle growth recovery (inhibited by high debt, new taxes, massive spending, regulations and uncertainty), Obamacare's rising insurance costs (premiums and deductibles are skyrocketing), the Fed's quantitative-easing policies (driving money into a rigged bull market benefiting the rich and killing savings rates), an anti-business climate (created by Obama's class warfare agenda) and a flood of illegal aliens (driving down wages and adding to the burden of the welfare state) are throwing an increasing number of middle class Americans into poverty, government dependency and despair...as the American Dream slips away from them.

 

Moreover, because Obama's promise of a rip roaring, robust, Reagan-like recovery hasn't materialized (despite the borrowing, spending and printing of $trillions) and the economy is doing worse  than expected (it's the worst recovery since the Great Depression) the Federal Reserve fearing another recession is refusing to raise its near zero interest rates. Indeed, since the end of the Great Recession in June 2009 we've had a fragile, low growth, underperforming economy verging on another recession that higher interest rates could plunge into distress.

The Fed's Zero Interest Rate Policy (ZIRP) is for economic emergencies like recessions.  If the recession is over and the economy is doing fine why then after seven years is  ZIRP still in place? ANSWER: The economy is a lot worse
than Obama and the Fed are telling us (see).
 

Indeed, despite Obama's happy talk about the longest economic expansion in US history (growing anemically at less than 2% per year), a 4.9% jobless rate (that excludes millions of long term unemployed workers), low inflation (that doesn't count energy, food and clothing costs, see and see), an artificial fake housing boom (caused by Wall Street bulk buying distressed homes, see) and the creation of 14 million new jobs (8 million are low paying part time) disillusionment with the Washington establishment and the rise of economic nationalism (with millions of angry, frightened, frustrated voters revolting against globalism and turning to Bernie Sanders and Donald Trump over wage, trade, inequality, jobs and debt issues) is sobering evidence of how truly false and disastrous Obama's recovery has been.

9 ominous charts showing Obama's disastrous economy and where it's headed.

The bottom line (as the graphs above show) is that America is in a state of slow, tragic, precipitous economic decline; and while Hillary and Sanders deny this (so as not to offend Obama fans) the disappearance of the middle class (the backbone of the nation) is sad proof that this decline is real-as is America's geopolitical collapse and loss of greatness and power in world affairs admitted by Jimmy Carter (see) and exploited by Donald Trump.

"Trump and Sanders are out to implode the global trade order (see)."

Millions of Americans in the growing economic nationalist/anti-establishment movement fear that America's best days are past and worse times lie ahead; and they are right to be pessimistic as all the indicators and trends point to coming calamity and woe. For if radical changes aren't made, not in soaking the rich and redistribution of wealth (which Sanders and Clinton want to do) but in cutting taxes, downsizing government, boosting productivity and creating new wealth (as Trump, Cruz and Kasich want to do) we are headed irreversibly toward national bankruptcy and blood in the streets like broken, busted socialist Greece. That is an economic certainty.

 

TICK TOCK TICK TOCK
 
The greatest threat to our national security is the debt bomb.
 
TICK TOCK TICK TOCK
 
 
 

 

POSTSCRIPT

This Theory Explains Why the U.S. Economy Might Never Get Better | TIME 

Is the World Economy Moving Towards Stagnation? 

Obama's underperforming economy is so wretchedly bad that many liberal economists such as Larry Summers have become economic fatalists believing that a stagnant no growth or low growth economy is the new normal, and that there's no way out of it. In other words, because liberals can't reinvigorate the economy with Keynesian stimulus spending, quantitative easing. increasing the minimum wage, amnestying illegal aliens (creating millions of new taxpayers) and redistributionism no one and nothing can. Americans, says the article, have to accept the new no growth or low growth reality and adapt to it. This, of course, is utter nonsense. "The new normal" is a term invented by panicking liberals to explain why Obama's $825 billion stimulus (the largest in history) failed.  Government, which liberals blindly love and worship like God, is the problem. This Time article is a sign that big government liberalism is exhausted and out of ideas and in its end time.
 
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28 thoughts on “THE DISAPPEARING MIDDLE CLASS: THE FAILURE OF OBAMANOMICS AND THE RISE OF BERNIE SANDERS, DONALD TRUMP AND ECONOMIC NATIONALISM

  1. I don’t understand.

    We raised taxes, opened the border, seized all kinds of private property and implemented all of Marx’s ideas.

    Why isn’t our economy better?

    It must be racism….

  2. I think I know.

    “We are from the Government and are here to help”

    and

    “If it ain’t broke, we will fix it until it is.”

    Those two sentences wrap up the Federal Government in a nut shell.

  3. It is because they placed all the money on Keynesian economics, which didn’t work—and never will—and lost. They blew trillions, and our grandkids have to pay it back.

    Complicated, but bottom line is the so-called Keynesian multiplier turned out to be less than 1—as the Austrians predicted (and Friedman, too).

    1. Mining and manufacturing are the only ways to create wealth other than agriculture. We suck at one and the other has taken a big hit. We are a stupid country run by idiots.

    2. Yet, the brilliant Nobel prize winning economist Paul Krugman, and all of his conceited know-nothing Yes men, repeatedly told us all to place more trust in Keynesian economics, and all would be well.

      Effing idiots have done us in according to plan, and we collective dupes are being marched to a Marxist future of no return.

      The Keynesians in charge bankrupted the USA.

    3. @Franz Bolling

      You’re sooooo right. They said every dollar borrowed and spent would contribute more than a dollar to economic growth—that’s Keynesian economic theory. And of course, they were wrong. So borrowed and spent more and more and more, waiting for the magical multiplier (greater than 1) to kick in. But it didn’t, because though it is a real number, it is actually less than 1. Their theory was wrong.

      Actual result: Every dollar they borrowed and spent, resulted in less than a dollar of growth. They tanked the economy for over a decade, and now we have to pay it all back. Which we can’t.

      AnthonyG nailed it, “The Keynesians in charge bankrupted the USA.”

    4. Keynesianism with its magic multiplier is hocus pocus economics. As David Stockman says we are witnessing the death of the Keynesian state.

  4. But but but but they all voted for the Messiah and he got the Nobel prize for being black and hope and change racism!

  5. This Theory Explains Why the U.S. Economy Might Never Get Better | TIME

    You nailed it Apollo: Another attempt by the MSM to make excuses for Obama’s failures.

  6. Bill Clinton tells voters that Obamanomics has been a success and that his wife will continue it. While Hillary campaigns on the disappearing middle class. What a joke.

  7. Do we have an EXAMPLE of what is likely the underlying problem of this terrible trecovery?

    Consider the Soviet Union. That whole empire lived in perpetual economic stagnation.

    Likewise, Communist China – at least until China adopted some Capitalism.

    Now, the USA has Obama “fixing” the USA economy: Dumb regulations, odd taxes, …

    Any guesses as to what is the underlying problem?

  8. The new normal is saying that the economy is getting better by counting how many food service jobs we have.

  9. Can anyone point out a single project that was accomplished because of “shovel ready projects” and “economic stimulus”? That all went into the pockets of Democrat-connected fat cats, who then kicked back a fair portion in political donations.

  10. I know I was much happier when I just went in my voting place, voted straight Republican, and forgot about it. Just keep the democrat out! Since I have been really watching the speeches, and following the news. I am a wreck. I am angry, and very unhappy.
    Think I will go back to “keep the democrat out” especially Hillary or Bernie!!
    I will watch “Law and Order” or Blue Bloods, and relax and forget about it!!

  11. Both Trump and Sanders are playing the class card. Their message is The elites have been stomping on the middle class and winning. Now it’s time for the middle class to win. Very interesting, no?

  12. When Democrats are in power, the enemedia always invents excuses about how a failing economy is the new norm and will never get better. They are partially correct though, failing economies almost never get better under Democrat control.

  13. The causes of economic stagnation are:

    1. Environmentalism

    2. Regulation

    3. Taxation

    The jobs that pay well and can’t be sent overseas, logging, mining, etc. are hated by the environmentalists and are regulated out of existence.

    When the consequence is that government revenues decline, they raise taxes, which sends more jobs out of the country.

  14. The economy is over taxed, over regulated, and Undefended from unfair foreign competition. Fix that and watch it grow.

    GO TRUMP 2016

    MAKE AMERICA GREAT AGAIN

  15. How to kill off the Baby Boom generation and Middle Class in two easy steps,

    1.) Obamacare,

    2.) Destruction of life savings.

  16. 35 Statistics That Show The Average American Family Has Been Broke Down, Tore Down, Beat Down, Busted And Disgusted By This Economy

    NOTE: With the exception of gasoline prices this article of five years ago is still very relevant.

    April 17, 2011

    The economic statistics that you are about to read are incredibly shocking, but they are also very, very real. Tonight there are going to be millions of men and women all across America that cannot sleep because they are consumed with anxiety about their financial problems.
    Even as you read this, there are a lot of parents out there that are trying to figure out how to explain to their children why their homes are being taken away. There are also hordes of very hard working Americans that are incredibly frustrated because they have sent out thousands of resumes and yet they can’t seem to get a job interview. Have you ever been at a point where you couldn’t pay the mortgage or put food on the table for your family? It can be an absolutely soul-crushing experience. In fact, there are some cities in the U.S. that have been so utterly devastated by this economy that it seems as though virtually everyone has had the hope sucked right out of them.
    The mainstream media is trying to convince all of us that we are in an economic recovery, but that is a lie. The truth is that we are in the middle of a long-term economic decline and the greatest economy in the history of the world is dying right in front of our eyes.

    The average American family is under more economic stress right now than at any other time since the Great Depression. Just check out the following statistics….

    #1 Only 45.4% of Americans had a job during 2010. The last time the employment level was that low was back in 1983.

    #2 Only 66.8% of American men had a job last year. That was the lowest level that has ever been recorded in U.S. history.

    #3 In the United States, one-fourth of all the income is brought in by 1 percent of the people.

    #4 Rising prices are putting an incredible amount of stress on American family budgets. According to John Williams of Shadow Government Statistics, if the U.S. government measured inflation the way that it did before 1980 the inflation rate would be much different. For example, Williams says that inflation rose at a 9.6 annual rate during the month of February using the old measurement.

    #5 In a recent survey conducted by Deloitte Consulting, 74 percent of Americans said that they planned to slow down their spending in coming months due to rising prices.

    #6 The price of U.S. crude oil has risen $20 a barrel over the last two months, and the average price of a gallon of gasoline in America is now about $3.79. At this point, the average price of gasoline is about one dollar higher than it was one year ago. Since the average American household goes through about 750 gallons of gas a year, that means that in 2011 American families will spend somewhere around $750 more for gas. So just what is the average American family supposed to do if a gallon of gasoline soon costs 4 or even 5 dollars a gallon?

    #7 The average American now spends approximately 23 percent of his or her income on food and gas.

    #8 Incredibly, 60 percent of all the students attending California public schools now qualify for free or reduced-price school lunches.

    #9 The number of people on food stamps in the state of North Carolina has almost doubled over the past four years.

    #10 Thanks to the globalization of the economy, U.S. workers now must directly compete for jobs with workers in places such as Indonesia. In Indonesia, full-time workers make as little as two dollars a day. So how are American workers supposed to compete with that?

    #11 U.S. home values have fallen an astounding 6.3 trillion dollars since the peak of the real estate market in 2005.

    #12 Back in 2005 at the peak of the housing bubble, the median property tax on a home in the United States was $1614. Today, even though home values have sunk like a rock, that figure has risen to $1917.

    #13 According to the Mortgage Bankers Association, at least 8 million Americans are at least one month behind on their mortgage payments at this point.

    #14 31 percent of the homeowners that responded to a recent Rasmussen Reports survey indicated that they are “underwater” on their mortgages.

    #15 Two years ago, the average U.S. homeowner that was being foreclosed upon had not made a mortgage payment in 11 months. Today, the average U.S. homeowner that is being foreclosed upon has not made a mortgage payment in 17 months.

    #16 The number of homes that were actually repossessed reached the 1 million mark for the first time ever during 2010.

    #17 According to a recent census report, 13% of all the homes in the United States are sitting empty.

    #18 According to the U.S. Census, the number of children living in poverty has gone up by about 2 million in just the past 2 years.

    #19 According to the U.S. Bureau of Labor Statistics, the average length of unemployment in the U.S. is now an all-time record 39 weeks.

    #20 There are 10% fewer “middle class jobs” in the United States today than there were a decade ago.

    #21 The United States has lost an average of 50,000 manufacturing jobs per month since China joined the World Trade Organization in 2001.

    #22 Half of all American workers now earn $505 or less per week.

    #23 Total U.S. credit card debt is more than 8 times larger than it was just 30 years ago.

    #24 Americans now owe more than $904 billion on student loans, which is a new all-time record high.

    #25 Average household debt in the United States has now reached a level of 136% of average household income. In China, average household debt is only 17% of average household income.

    #26 A staggering 25 percent of all American adults now have a credit score below 599.

    #27 1.5 million Americans filed for bankruptcy in 2010. That represented the fourth yearly increase in bankruptcy filings in a row.

    #28 Over the last decade, the number of Americans without health insurance has risen from about 38 million to about 52 million.

    #29 One study found that approximately 41 percent of working age Americans either have medical bill problems or are currently paying off medical debt.

    #30 According to a report published in The American Journal of Medicine, medical bills are a major factor in more than 60 percent of all personal bankruptcies in the United States. Of those bankruptcies that were caused by medical bills, approximately 75 percent of them involved individuals that actually did have health insurance.

    #31 Back in 1965, only one out of every 50 Americans was on Medicaid. Today, one out of every 6 Americans is on Medicaid.

    #32 According to the Federal Reserve, between 2007 and 2009 median household net worth in the United States fell by 23 percent.

    #33 The Federal Reserve also says that median household debt in the United States has risen to $75,600.

    #34 According to the Economic Policy Institute, almost 25 percent of all U.S. households now have zero net worth or negative net worth. Back in 2007, that number was just 18.6 percent.

    #35 During this most recent economic downturn, employee compensation in the United States has been the lowest that it has been relative to gross domestic product in over 50 years.

    http://endoftheamericandream.com/archives/35-statistics-that-show-the-average-american-family-has-been-broke-down-tore-down-beat-down-busted-and-disgusted-by-this-economy

    1. Well, I think if the average American family just takes the time to stop and play 100 rounds of golf, they will feel all better again.

    2. It’s going down EXACTLY as Alinsky predicted. Create choas, so the people ask for a Socialist Dictatorship, in the end.

  17. First rate rant Apollo. Global free trade, federal reserve doing the bidding of Wall Street and bankers, both political parties kowtowing to Wall Street and bankers; Obama only made our national debt worst and wasted precious few dollars on politically correct industries and groups without consideration to true economic sense and mathematics.

  18. I thought things were crappy with my family situation at the moment, but based on those stats, I am just an average American.

    Hope and Change! Fundamentally Transformed!

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