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Why we are in a recession

Posted: Jun 11, 2012

We are in this recession because of the largest financial meltdown since the Depression, brought about by total lack of regulation of the financial industry. Do you really think we can climb out of this in just a few years? Do those of you who want to get rid of Obama want to put back the people who brought about this recession in the first place? Unless there is some oversight of the financial industry, the same thing will happen again. The Dems may not have been able to put controls in place yet but you can be sure the Right won't do it.

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I think the recession is over--good news all over - sm

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Hubby's friend is buying a home. There were 3 bidders on it. He ended up paying 10% MORE than the asking price. Another friend has a semi-truck. He says he is having NO problems getting loads, both primary and return. My hubby just got a 2% raise. Has not had a raise for 4 years, so this is good news.

I see new stores opening and advertising all around me. Gas prices are down. I think it is all good.

That's much different than where I am - bad news all over - sm

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In my town over 120 people were just laid off. Foreclosure are on the rise. People have no money for nothing. People are stealing copper out of empty houses to sell. Crime is on the rise because of no work. More companies are laying off employees and shutting down. Stores are closing down. Every time we drive around the city another business has closed down. Gas prices are continuing to go up. My mom told me back where I grew up things are bad too. People are losing homes and having to move to find work. They don't know where they are going to go, because everywhere is bad. Some are going back to live with family members. And did I mention gas prices are on the rise.

I think it's all bad.

Not credible - sm

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Since gas prices are down nationally, I have to question the validity of your post. Frankly, I do not believe it.

Gas prices - empire lady

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While the trend is that they are decreasing a bit nationally, if she lives in Washington state, as I do, our prices are going up or are in a high holding pattern. So, her comment can be very credible, depending on where she lives.

Gas prices - Conservative

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Our gas prices are still high, as well. How well the economy is or is not doing cannot be judged by someone's little section of the country, but has to be taken in totality to get a good picture. Foreclosures and bankruptcies are going through the roof where I live. Businesses routinely closing up and our unemployemnt is higher than national average. Not good here at all. If you look at ALL the numbers from the Labor Dept for June, not good on average.

Gas prices are down almost 50 cents from a year ago - Born yesterday

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Sure, I can compare to the neighboring town and from yesterday, and get a different number, but the prices are DOWN. Things are much better all around.

Gas prices here are down 35 cents a gallon since April 15, 2012. - VTMT

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Good for you - NOT reflective of country

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It is true that gas prices on the west coast are...sm - VTMT

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still high but there are reasons for that that have nothing to do with the recession or Obama. The main refinery for the Pacific Northwest has been out of commission since a fire in February and the California suppliers are cleaning their equipment in preparation for production of summer-grade gas in accordance with California law.

Check out this link to average current gas prices for states and cities in the US. It is really eye opening that there is such a wide range, from $3.07 in SC to over $4 a gallon in the west.

California - Dickens

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I can't speak for all of the west coast, but I live in a coastal California town, and I was pleasantly surprised when I went to fill up and gas was less than $4 a gallon. I hardly ever get gas because I work at home, but I remember it being higher than that!

Yes it is reflective of the country as a whole. - sm

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The price per gallon fell an average of approximately 35 cents a gallon since April. See link.

NO IT IS NOT REFLECTIVE OF THE COUNTRY - AS A WHOLE

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But you 2 or 3 keep on with your spin if it makes your feel better. Things are not all roses and lollipops in many parts of the country and NONE of your posts are indicative of the nation. Just the spin you want out there while ignoring areas that are massively struggling.

Under OBAMA how about the national stats of:

Household NET WORTH DROPPED 39% in 3 years.
Household INCOME DROPPED approximately $4000.00 a year in 3 years.
Home values DROPPED 32% in 3 years.
Net job lost in 3 years 500,000+.
Increase of households in poverity last 3 years.
Food stamp increase of over 25% in last 3 years.
Historical length of unemployment for last 3 years.
Debt INCREASE is a blow out last 3 years.
Credit down gradeunder Obama and another downgrade being warned due to massive debt accrual.

Try doing some research.

Keep dreaming - Dems usual spin

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when they got nothing else, as usual.
Just 'cos your dropped, does not mean it is the same country-wide. Try picking up a paper or contacting Dept of Labor or Energy or a dozen others for FACTS.

It appears that you yourself have not investigated the - FACTS. nm

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Housing contractors are busy here and cannot keep up - Turning down jobs

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Happy days are here again!

It appears that you yourself have not investigated the - FACTS - YOU must be looking in the mirror

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I agree. 3 job offers - Things are really moving

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My niece has 3 job offers on the table, and is holding out for an offer from either 4th or 5th places that have openings. We have another business that has announced expansion with significant jobs here.

I think some people really want to spread the idea that the economy is down, even when it is not.

Baloney! What, just because YOU are okay? - Nice. I know 4 people who just got laid off...

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and there is more to come. Please, the overall economy still stinks. Many people who want full time can only get part time. This is what we get for electing a president who has never run anything, not even a lemonade stand. It is ridiculous... his policies have failed bigtime. We need HOPE AND CHANGE, ...someone other than Obama!

My mailman is looking better than - Obama, at least the mailman works

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Obama not so much...Oh wait, he does play golf professionally, and sings, and makes regular appearances at $30,000 a plate fundraisers, and dances with Ellen, and gets a pcikup game of basketball going...OBAMA MUST BE EXHAUSTED. PAYING FOR ALL OF HIS AND MICHELLE'S VACATIONS HAS SURE EXHAUSTED ME.

Well, make sure you take a photo of your - sm

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mailman to remember him by since the GOP wants to shut down the USPS so we can ALL overpay for shipping charges, whether we can afford it or not. That's one way to "weed out" the poor and lower middle class (who were probably upper middle class not to long ago).

Are those 4 people in public sector jobs - Obama needs Congress support

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Hopefully a Congress will be elected to support President Obama in his desire to hire public workers for school, roads, law enforcement.

Your record is skipping - Obama had record support

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in BOTH houses. Thankfully, most of us are far smarter on this board then you play us for. Try reading. Congress controlled by DEMS last 2 years of Bush and FIRST 2 YEARS OF OBAMA, with the 3 stooges running things- Pelosi, Reid and Obama.

Okay here are links to prove what I said - Don't call me a liar when you don't live

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Just because you don't have rising gas prices doesn't mean everywhere in the country doesn't. MY STATE DOES!!! Do not call me a liar when you don't live here. I know, how bout you call our TV stations and our newspapers, and our governor and call all of them liars. Your post is not credible. When you talk to them maybe you can find out why our gas prices keep going up, cos all my neighbors would sure like to know.

http://www.oregonlive.com/business/index.ssf/2012/03/rising_gas_prices_fuel_increas.html

http://theworldlink.com/business/local/oregon-gas-prices-on-the-rise/article_0c72dcba-4b5c-11e1-8ce4-0019bb2963f4.html

http://theworldlink.com/news/local/why-are-gas-prices-so-high-in-coos-county/article_dbd3886e-9e14-11e1-8747-0019bb2963f4.html

http://www.oregonlive.com/business/index.ssf/2012/03/rising_gas_prices_fuel_increas.html

http://www.oregonlive.com/argus/index.ssf/2011/02/gas_prices_remain_high_amidst.html

http://www.oregonlive.com/business/index.ssf/2010/10/gas_prices_rise_in_oregon_nati.html

There. Can you tell I don't care if you think my post is valid. Tell it to everyone in my state.

Some people like to complain - Oregon booming

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Your gas price is less now than it was in 2008 when Bush was in office.

In 2011, Oregon’s real GDP grew by 4.7 percent, which ranks 2nd best among all states, trailing only North Dakota. Poor Oregon.

Gas prices are not lower than when Bush was - in office... big WRONG! nm

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nm

Libs can't stand the truth - Obama doing so bad

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and libs are so desperate they throw out anything, act like it's truth to take attention off Obummer's continually slide. Gas is more than double when Obummer took office. Still is high where I live. Drops a few pennies and the libs on here want to hold a parade. Like the libs always scream..."issues people, issues" - stop with the smoke screens. Obummer can't run on any issue since he is such a total failure on all fronts. Obummer is a one-horse pony trick.

During the summer of 2008 gas prices skyrocketed to...sm - Just the facts.

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a national average of $4.12 a gallon. That being said, I happen to believe that presidental policies have very little effect on the price of gas/oil so don't blame or credit any administration for the price of gas.

Yeah and they dropped rapidly - Gas dropped down to $1.85

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"that being said", the gas prices have set record levels for the amount and longevity of the increases under Obama's watch. People on here crucifed Bush for the increase in gas, but give Oblahblah the usual lib pass, which is "just the facts".

Gas dropped in Oct 2008 just before the election when the - sm

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bottom fell out of the economy. I repeat, who is president has nothing to do with the price of gas.

What the? - Dickens

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When was gas $1.85?!? In 1980?

Some people like to ignore facts. $3.00 is not more than $4.50 - Oregon not booming

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Come live here. You will know it is not booming. Have you been to Eugene, Coos Bay, Portland, Medford or even little towns. Down one of the cities south they laid off so many city workers they let the criminals out of the jail. So I'm sure the people there feel real safe now that the rapist, home invaders, thieves, and and other criminals are wandering free down there. Oregon is suffering. Don't know where you are getting your information. Probably the same place they are making up that everything is just so grand.

Community college kids were interviewed on TV. Their rates are going up, but there is no work for them when they get out. Kids who already graduated cannot find jobs because so many adults are out of work and also looking for jobs.

I'm sure those people who lost their jobs and homes would love to hear how much they are "complaining". Just because a person's little town of the country someone sold a car or went on a vacation or had a job interview does not mean the whole country is booming and prosperous. I know some people want another democrat to be win this fall, but it's pretty bad when they don't care if lies are being put out, just as long as they win.

Sing it sister - Our gas is a hair under $4.00 NOW

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They aren't interested in truth, just their same old, same old talking points.

Under Bush cost me $37.00 to fill my tank.

Under OBAMA COSTS ME $76.00 AND THAT IS IF I BUY THE CHEAPEST GAS possible.

No matter who does the math, lib or conserve, costs me $ $39.00 MORE under Obama. Spin that Maytags.

What state? - nm

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It does look like Oregon was hit pretty hard... - sm

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by the recession and has been one of the states that has been slower in their recovery, but it is recovering as is seen at this DOL link.

Someone doesn't like that Oregon is recovering - Shame on you. nm

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Who? Not me! I think they were hit hard and glad they - are recovering, nm

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Nah, not you, the person who "disliked" your post - or maybe it was a click-jerk-nm

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Let me tell you bout our beautiful state - sm

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Let me tell you about Oregon as a person who lives here. I love Oregon. It's beautiful. Wouldn't want to live anywhere else. I would love for the economy to recover. Cant tell you how bad I would like that. I don't even care who recovers it. You recover my state and I'll vote for you.

The sad thing though is we are not recovering. Over 130 jobs lost one town, which includes prison guards. Do you know what that means? Okay, so they've now got all the rapist, home invaders, drug addicts, thieves, and people who committed minor assaults walking around down there. Lot of people have lost their homes and are moving, however, the towns here have no jobs for them to come to. The town above us is being hit too and no jobs there. Gas prices are on the rise, along with insurance premiums among other stuff. Stores are closing down and boarded up.

I truly wish I could say things are improving. They can put out any numbers they want to to make their administration look good. Doesn't mean it's true. There were jobs in newspapers. People calling to find out there are no jobs, they haven't taken the adds out of the paper. Nobody here knows what they are going to do.

So...please, please, please wish our state was recovering. Would love to have jobs here, would love to not see so many foreclosures and boarded up store fronts. Wish gas was going down. Wish all that was true and I don't care who fixes it. I want it fixed and I will give due credit to the person who fixes it. Don't care if they are republican, democrat, independent, or martian. It just needs to be fixed. And they need to stop lying that the state is recovering. Tell that to the thousands and thousands losing their jobs.

Thanks for bringing up the public jobs - Obama has asked for cooperation

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It is terrible that that Romney and the Republican Conservative refuse to see that police officers, prison guards, health care and education providers are VERY MUCH needed in their communities. Public employees ARE needed and their salaries help support their communities.

Yes, they all lost their jobs under Obama admin - Republican conservatives are trying to fix it

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but getting little cooperation. Not even any support from our liberal government who just bailed out Canada without congresses approval. I wish they would have printed some more money and passed it our way.

Since Romney has nothing to do with what just happened in our state I didn't bring his name into the conversation.

Wish the democrats would work with the republicans and vice versa to get this accomplished.

You go girl - Sick of those namecallers

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that scream "liar" as soon as you say something that is not in lock step with the Dems and their talking points. They have one tiny little area of the world they occupy and think the rest of the country is exactly like that. I'm with you. Our gas prices ARE NOT DROPPING. We could all say they are "liars" because their prices don't match ours, and then they would scream "victim", "racist". None so blind as those few that refuse to see any truth that does not put a halo behind Obama's head.

Same here. It IS all bad. I dont think we ever - got out of recession at all ! nm

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nm

Romney encourages foreclosures. - sm

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He doesn't believe in helping people save their homes. He said the foreclosures just need to go through, and hopefully the home will be sold to an INVESTOR so he/she can RENT out the property.

So much for American citizens. He doesn't care about them. He'll do what he does best once he hits the Oval Office, and that is to get rid of companies causing even more layoffs than we have now.

Way to go, Conservatives!

Romney: Believer in absentee landlords. - nm

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Garbage! He believes in using the law the way - it was meant without bailouts!!!!

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These bailouts are accomplishing nothing but killing the taxpayers and creating tons of debt. He was right about the housing market, and he was right about GM. Bankruptcy(btw, GM ended up filing bankruptcy anyway!!) and foreclosures are there to be used for a reason. Obama is the one who has delayed any recovery because he is absolutely incompetent, as well as CLUELESS on fixing the economy. I voted for him, and I believed him, and I gave him a chance. I have had it !

Romney right about the housing issue - Libs NEVER state the full context

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There were many, many people that bought homes without the income to back it up. Banks were "forced" into risky loans by community organizers. The only way to get rid of the problem is to let the market hit bottom, have people buy the homes THAT CAN ACTUALLY AFFORD THE MORTGAGE and rebuild the communities. Obama is so economically stupid, he does not get Economics 101. Romney never stated what prior poster claims. Romney stated the business principle behind foreclosures, and the LEGAL process by which this situation should rectified. I am sick of picking up after these crazy A$$ libs that are clueless, and sick of bailing out everyone in sight. If things are as wonderful as these libs on here keep saying, then get off your A$$, get a job and keep your hands out of my wallet....better yet, pay me back for all the lazy bums we've been carrying or pay off my mortgage. FOR THOSE LIBS INCAPABLE OF FIGURING IT OUT, THIS DOES NOT INCLUDE THE DISABLED, ILL OR TRULY POOR - IT IS FOR THE entitlement toads.

Romney encourages foreclosures - Clear you have no business knowledge

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So blinded by your hate for an individual you can't reason through the process. Romney NEVER said to throw people out callously like you post. Romney CLEARLY stated as soon as there is a problem, go immediately to your bank and attempt to work out a solution. The quicker the homeowner takes action, the better chance there was a solution that could be achieved between the person THAT GUARANTEED THE LOAN PERSONALLY and the bank giving the loan in good faith. Romney also said there were OTHER LEGAL MEANS TO RESOLVE THESE UNDERWATER MORTGAGES without taxpayer funds. If libs have such big hearts (not big hearts, just big mouths when it comes to other people's money), start personally paying someone elses mortgage along with your own. Someone that is not working, cannot afford the mortgage they TOOK for the bank, with no end in sight. Let's see you keep that up for 3+ years and then come back and post about why bankruptcy or foreclosure is such a bad idea for those that took out mortgages they could not afford or lived far beyond their means. NOT ALL UNDERWATER LOANS ARE DUE TO JOB LOSS. Otherwise, put up or shut up.

Just wondering - ts

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if you will still feel the same way a month from now.

Whoaa....hold on there just one minute.. Not so quick - what if

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You don't get to blame the whole mess on the republicans. The democrats are are to share in the blame. This wasn't caused by just republicans. This caused by republicans AND democrats.

The democrats have done nothing, I repeat NOTHING to get us out of the mess. And hey, guess what...wall street has the democrats in their pocket. You really think by keeping Obama in there he is going to fix it and make it all nice and rosey for people like me (the middle income going on poor because of the failed democrat policies). You get to also thank Clinton for his fair share of the problems. You need to blame the democrat and republican congress. You think Obama and Romney are so different? You think that they truly make the decisions? Until we change the people responsible. Until we get someone who truly does not take money from wall street (failed to see one yet), this won't change. Unless people wake up and start talking about individuals to blame things will never change. What I see here is a lot of posters like to hate the other side. I don't know why. They have not done anything personally to them. We all suffer under democrat and republicans. I myself and my family and friends always suffer when a democrat president is in. Sure they are all pretty boys and smoother talkers, make you love to hate the other side, but deep down they do nothing for the little people.

Lets talk about voting out individual politicians that are not doing their job. Ones that are enriching their own lives while not doing anything for the people they are suppose to represent. The ones who tell other newly arriving members of congress "if you weren't a millionaire before you got here you will be one now" and smile about it.

Lets vote out all the crooked politicians who are not doing their job and making the country a better place. That will include a lot of democrats including yours truly.

At least with Romney he understands how the economy works. He's not walking around telling people there is "nothing wrong with the economy" and "most times I don't even realize there is a recession". Talk about cold-hearted.

Ah, you had me until.... - empire lady

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... your last paragraph! lol No, he only states that the poor are "taken care of" because of the catch nets, etc. The majority of us don't want catch nets and charity; we want well-enough paying jobs so we don't have to use said nets. Furthermore, I'm guessing there are many who lost their jobs after Bain took over their companies who might not agree with that statement.

That brings us back to your above paragraphs, with which I wholeheartedly agree, nonpartisanly, if there is such a word. :)

I stand by my last paragraph - what if - sm

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I wrote that at least Romney "understands how the economy works. He's not walking around telling people there is "nothing wrong with the economy" and "most times I don't even realize there is a recession". All of that is true. Obama does not understand how the economy works. He doesn't even get it that over half the country is suffering right now. He thinks everything is just peachy keen because he's not suffering, so he doesn't see it. Romney may be rich too, but at least he understands it and knows it is happening.

I'm not talking about Bain. I'm talking the overall picture with Romney. His experience as governor and CEO he understands how the economy works and what is needed to get people back to work. Obama has proven over the past three years he doesn't understand this. Simple economics 101. If you are going to be president of the United States you should at least understand this. Obama does not.

Yeppers, Romney is in touch with the suffering of the poor and middle class. - me

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You can just see it in his demeanor. And of course his bad mouthing the economy has NOTHING to do with the fact that he would say anything to be prez. I'm not that cynical.

What if - Conservative

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I think it is ironic that there are those that will hold onto the lies Obama put out there about Bain, most occurring AFTER Romney left. The left never mention the 70+% success rate Bain has historically, keeping millions in their jobs, and affording them a better retirement. The democrats talking points are so yesterday and simply lies.

Why do the die-hard lefts never list the MILLIONS of jobs lost since Obama took over, on his watch? What about the endlessly failing green energy jobs under Obama causing thousands more to lose their jobs? What about the approximately 750,000 women who lost their jobs under Obama? What about the MASSIVE restrictions under Dodd-Frank that cost every single middle-class taxpayer cash out of their pockets. All from Obama who claims he never taxed the middle class; just another lie.

You cannot have it both ways. The most detrimental votes held in congress harming the middle class where supported by the democrats. If someone, regardless of party, were truly interested in the truth, they would go to the congressional voting archives and actually READ what the democrats pushed and what it cost the American middle class, pushing them closer to poverty.

I agree - what if

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It seems that people are okay and will accept the lies, full well knowing that he is lying because he belongs to the democrat party.

They will never admit that millions of jobs have been lost under his term. They always blame Bush, but never take responsibility for the issues happening today and in the future. They'll claim lies or (my personal favorite) "viral email". ROFL. They refuse to address the issues. Some people think because their spouse got a part time temporary job or they could go out to eat or took a mini vacation that the economy is so great, but when our town and my family's town is shutting down and business closing and people being laid off by the thousands that is not good. They can spin and lie all they want and pay people lots of money to put out figures that have no facts to back them up. The economy simply is not good.

The simple matter is no democrat has ever made life easier for everyone in the middle class. Maybe some, but the majority suffers.

I think what is going to happen is times are hard right now on everyone across the country. People are tired of the blame game and not taking responsibility. They want to hear ideas and specifically what is going to be done to get them back working. Not promising of I had a dream and hope and we can change. We see where this change got us (in the toilet). I believe people are tired of the scams and empty promises, and blame everyone else. People are wising up and i think we are going to see a lot of people paying attention to the issues and researching. They are going to know the campaign promises now are the same ones he promised in his first campaign that he never fulfilled and they are going to be voting wisely this year. I think enough people are awake and understand we need a change. They are not falling for the scare tactics of ooooh those republicans are going to make you homeless, empty your bank accounts and watch you starve in the streets tactics they usually come up with or the phony vote republican and you move backwards. I think people are smart enough to research issues happening and deciding wisely.

Dems took over Congress during Bushs last 2 years - If you look, THATS when it all went downhill. nm

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nm

Conservative Republicans are terrified of a good economy - sm

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They are shaking in their boots that people will realize that the sky is not falling and things are pretty good and that President Obama has been leading the way despite the Republicans in Congress blocking everything positive. I can just see ol' Boehner, Cantor, and Willard praying the night before the job statistics for an increase in unemployment. Instead they have had to say that the good news is really bad news because it is not as good as expected. I bet they were really spoiled kids at Christmas time when not every little present was in their stockings. Conservative logic, go figure. I sure am sick of them. The Republican conservatives need to be voted out now.

Conservative republicans are afraid of nothing - The democrats are the ones shakin in their boots -

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We are "shakin in our boots"??? ROFL. Sorry sweetie, nobody in the republican party is "shakin in their boots". Nobody said they thought the sky was falling, but we do know that the ditch is now a hole and it's getting deeper and deeper. I'm glad things are going good for you. You must be one of the rich people Obama is helping. Unfortunately the rest of the economy is sinking and pretty fast too.

Republicans are trying to work with the democrats and Obama, but unfortunately they refuse to work with them. That bipartison thing Obama talked about to get elected. Guess he figured once he got elected he could just ignore that.

Yeah, and I can see Reid, Pelosi, Kerry and many other democrats praying to Satan to remain in power.

Nobody prays for unemployment. That is completely assenine. Regardless of what you've read in the hate tabloids and heard from Mathews, the members of congress (democrats included) are adults. They don't act like 12 year old "praying for unemployment".

Unfortunatetly there is no good news. Unemployement on the rise, foreclosesure on the rise, and its getting worse, not better.

I don't bet, I know the democrats were spoiled kiddies at X-mas. They were also bullies going through school. That's why they are democrats. Yeah, I sure am sick of them too. The democrats in congress have failed the people of the country and need to be voted out and NOW.

The democrats are the ones shakin in their boots because they know the country can see through their lies. The support for Obama is failing even by a big majority of democrats (who are not the communist democrats) can see what is going on. America is awake to what is going on and that is what is really panicking them.

2012 - Woohoo. This is a good time to be a republican/independent.

You can smell the Dem's fear or is - that smell their attitude??

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2012 - Woohoo. This is a good time to be a democrat/independent. - Is everyone happy? nm

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Doesn't look like the democrat/socialists are - Woohoo 2012 go republicans

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If the democrats/socialists were so happy and confident they wouldn't be this scared.

Where are you getting the idea that they are scared? - nm

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Read all the posts on this board for starters - Then

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Listen to Mathews, Maddow and all the people on MSNBC. Listen to Obama's campaign speeches (not addressing issues, but trying to destroy the opponent personally). Then watch the liberals commercials. Then read the liberal newspapers.

That there will tell you they are scared.

Whatever. - nm

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Another comedy routine try out here - No truth- No credibility, only Debbie

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Wasserman-Schultz on steroids. Tell your spin to the 25,000 here that lined up for 800 jobs. You'd be run out by the hurting middle class that are "clinging to their guns and Bibles" that are trying to feed their families and keep their homes. Yeah, we all get it, you few LOVE OBAMA no matter how much damage he does to America since y'all hate America. Consider moving to Somalia, I hear it's lovely this time of year, and it's loaded with commies/socies.

If you click your heels together and say 3 times - Theres no place like home

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The fact will not change. Sure, maybe it will make you feel good to believe everything is just perfect and hunky dory, but unfortunately the reality of what is going on all over the country will not change. The economy is bad whether you want to buy all the lies or not. Listen to the economist. Not the dude who will say whatever he can to get people to vote for him.

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Aug 23, 2012
Obama has sunken us deeper. But that is what he wants. He wants us to be like a third world country. He says the majority of people in third world countries are worse off than the poor in this country. He wants "equality for all". Damn Communist. ...

Aug 22, 2010
Link below ...

Mar 09, 2017
Trump might want to put a call in to Janet Yellen. The Fed is supposed to be a neutral, independent entity. However, that myth went out the window when Bernanke “gifted” QE 3 to Obama in 2012 to aid with the latter’s re-election bid. The Yellen Fed seems to be even more committed to defining the Fed as nothing more than a leftist establishment mechanism. Back in October when it still looked like Hillary Clinton would win the 2016 Presidential election, Yellen commented that she was c ...

Dec 12, 2012
From The Atlantic: " I'm about to share a statistic that you should remember every time you think about the Great Recession, and why the recovery has been so painstaking. It's going to illustrate precisely how devastating the downturn was for your typical American family, and the size of the hole we've been trying to dig ourselves out of. Ready? Here goes: Between 2007 and 2010, the median net worth of U.S. households fell by 47 percent, reaching its lowest level in more than fo ...

Jan 30, 2013
EDITOR’S NOTE: First in a three-part series on the loss of middle-class jobs in the wake of the Great Recession, and the role of technology. By Associated Press, Published: January 18 | Updated: Wednesday, January 23, 4:44 PM NEW YORK — Five years after the start of the Great Recession, the toll is terrifyingly clear: Millions of middle-class jobs have been lost in developed countries the world over. And the situation is even worse than it appears. ...

Oct 21, 2013
From The Atlantic Magazine The Greatest Risk to the U.S. Economy Is Still the People in Charge of It The recession gave us a lost decade. Congress added a lost year. The budget wars since 2010 have cost us 12 months in job creation. DEREK THOMPSONOCT 17 2013, 8:03 AM ET 21in Share More Reuters The 16-day shutdown of the federal government cost the U.S. economy billions of dollars in lost economic activity, from an idle district, to lost personal income ...