For the Record...

The Case for Obama, Part 1: These "hard" economic times

There are two things I'm sick and tired of hearing about.  The first is that Obama and the Democrats are strong with voters on social issues, whilst Romney and the Republicans have the edge on economic and fiscal matters. In a word? BALONEY SAUSAGE. I've written plenty of posts in the past showing just how mush better things are under Democrats on purely economic terms, and [and this is the other thing I'm sick of hearing] "these hard economic times" are no different.  And don't expect the mainstream media to tell you any of this, but the fact is? Times ain't so bad. In fact, well... I'll let the data do the talking.

Exhibit A: The Dow Jones Industrial Average.  Generally considered one of the best indicators of overall economic health in this country.  Now, to put in context just what a wet, steaming pile of bullshit it is that people are talking about Obama like (1) he's done anything wrong, (2) that there IS actually anything wrong, and (3) that [even though it isn't wrong] it's all his fault, I want to start back a bit, to when George W. Bush took office, just to remind everyone what a shitty stock market REALLY looks like.  This is the DJIA from Inauguration day, 2001 to Election Day, 2004 (From Yahoo Finance):

Bottom line? DOWN 5.13%.  DOWN. Over FOUR YEARS! And that asshole got re-elected despite that!  Of course we all know how his second term fared.  Here's Election day, 2004 to Election day 2008:

Down 13.9%! And Conservatives wonder why Obama got elected? Conservatives are still trying to  argue that OBAMA destroyed the economy?! The DOW was down 13.9% in the four years since we reelected the guy under whom it had all ready fallen 5.13%!  Here's Bush's eight year term, Inauguration Day, 2001 to Inauguration Day, 2009:

Wow. DOWN 24.23%. Way to go, Georgie! Here's what's happened since Obama took office:

BOOM! UP! UP! UP! 66.4%! Wow! Now... I don't want anyone to get the idea that I think the President is directly, 100% responsible for the stock market, but... Let's not forget that the guys who are whining about "these hard economic times" are the guys who (1) got re-election after a 5% decline, and (2) were down over 24% by the time they were done.  And we're up 66% right now and I'm supposed to believe that it's THE OTHER GUYS who have the economic wherewithal?  Bullshit. According to the DJIA, Obama's done roughly three times the good in under four years than the amount of harm down by George W. Bush in EIGHT. 

Well, maybe the DJIA has a Liberal bias or something. I wonder what the S & P 500 looked like during Bush's first term:

Whoa. Down 13.16%. How the hell did that redneck get re-elected?! Is anyone goimng to seriously tell me that there's Liberal Bias in the media?!  Where was it in 2004?  Oh, and uh... How's things go the second time around?

Oh my God! DOWN 21.38%!  Almost as bad as the DOW. And people say Obama's presiding over a bad economy?!  Here was Shrub's eight year performance on the S & P:

Down 38.6%. Holy. Fucking. Shit. And since Obama took office?

And BOOM GOES THE DYNAMITE! UP SEVENTY FOUR POINT TWO-EIGHT PERCENT! Oh, yeah: Let's get rid of this guy!

The NASDAQ tells the same story:

Down 28.03%. That in just his first term folks! Can someone PLEASE tell me how John Kerry didn't beat this ass-clown in a LANDSLIDE?  Liberal Media, my hairy, unwashed ass!

Second time around:

Down another 19.2%. And they wonder why the lost. Must have been that Liberally biased STOCK MARKET. 

Overall, our roughly fifth worst President of all time managed to take a whopping 46.88% out of the NASDAQ during his tenure. Remember: This was the guy who mocked Al Gore's legislation that created the Internet.  OK, so how's the NASDAQ doing under Obama?

Up... One-Hundred... and... Thirteen... Percent.  Holy... Fucking... Shit... (I should have bought more!)  And really, to show how skull-fuckingly stupid (or just plain screwed) the Republicans are here, they keep trying to disappear George W. Bush's UTTER ECONOMIC FAILURES, every time Obama reminds people how bad things were under Bush. Thing is? The main reason that Obama's stock market has been as good as it was, is because it started in such a deep, dark hole! Saying that he came in essentially just at the right time, would be the easiest way for the Republicans to poo-poo his success. But, of course, they can't say THAT, because (1) they'd have to actually ACKNOWLEDGE his success, and admit that he also did the right things, and (2) they'd have to acknowledge Bush's FAILURE.

And... it's just easier for them to lie about it.  None of the Conservatively biased Mainstream Media is going to break from the narrative that the Right's strength is economics, (note: it isn't. they have no strengths) nor call out Fox News for going above and beyond in the field of outright deceit and propaganda.

OK, so admittedly the Stock Market MIGHT not be the best measure. (That sure was FUN for me to go through though, let me tell you!)  How about the GDP? Well, here's a chart:

It's from this article. My favorite part of which is the following line:

The average growth rate in private real quarterly GDP since 2000 has been 1.76%, so the private sector of the U.S. economy expanded in the first quarter of 2012 at twice the average rate over the last 12 years

I keep hearing about how slow, and sluggish and disappointing that 2.2% rate is, but "double the rate of the last twelve years?!" Seems like we're doing just fine in that regard as well.  BTW, you see those RED LINES?  Well, the Conservative Toadies in the Mainstream media won't tell you this, but... those are REDUCTIONS in Government Spending. And contrary to what the Macroeconomic Failures who drew up the Paul Ryan Budget will tell you: That's a drag on the economy.  So, if you think Obama should be doing more (meaning SPENDING more?) I'd agree with you 100%.  But that criticism sure as hell isn't a reason to vote Republican! And if you think he should cut more? Then you're either a Billionaire or an idiot who doesn't understand how economics works and will be out a job sooner than he thinks.

Speaking of which, unemployment is becoming so much NOT A PROBLEM, that Fox News has gone so far as to allege a conspiracy over the numbers!  Sarah Palin even questioned their accuracy!  Eric Bolling again accused the BLS of being partisan! Imagine the gall it takes, for a guy on FOX NEWS to accuse the BLS of partisan bias!  There should have been a quantum singularity forming in his crotch due to the gravity created by his massively HUGE BALLS.

Here's an unemployment chart that ought to get Obama re-elected:

Wow. Again what do we see? Things getting worse and worse and worse under Bush... And things getting better and better and batter, and the staying in the green under Obama.

Now, I'm going to look at energy and gas prices next, and I've never been shy about delving into social issues myself, but on a purely economic basis? Everything got worse under Bush, and everything has gotten better under Obama.  That not my opinion: That's what the data says. It's not a "liberal talking point" either: It's MATH.

If anyone needs a quick reference here you go:

As of 4/29/2012:

DJIA:
When Bush got re-elected: DOWN, -5.13%
Bush's Presidency: DOWN, -24.23%
Under Obama: UP, 66.4%

S&P 500:
When Bush got re-elected: DOWN, -13.16%
Bush's Presidency: DOWN, -38.6%
Under Obama: UP, 74.28%

NASDAQ:
When Bush got re-elected: DOWN, -28.03%
Bush's Presidency: DOWN, -46.88%
Under Obama: UP, 113.05%

I'm still stunned by this. Can you imagine what they'd be saying about Obama's economy if his markets had George Bush's returns?  Oh, yeah, but Bush gets re-elected after net first-term losses, and the so-called 'Liberal' media media keeps up the narrative that Republicans know their asses from their elbows when it comes to the economy.

One final note, regarding the millions of people still trying to find work.  In no way is my post here implying that your plight is not real. You're out of work. And no amount of economic data is going to put food on your table. (Of course... the Republicans want to kill anything that WILL do that as well.) The point here is WHY. WHY are there are so many unemployed people? And WHO, WHO is going to make things better and who will make them worst? History says the Republicans will make it worse. They're the ones who MADE IT BAD in the first place. And AUSTERITY won't fix anything. Obama has been embracing Austerity at an astounding rate, mainly to appease the Right, and it is the number one thing HAMPERING our economic recovery.  The Right will only give you more of he only thing Obama actually IS doing wrong economically. And that's not my opinion, or mere conjecture. I KNOW this because they've promised as much.  That's what massive SPENDING CUTS will do folks: Kill the economy. DO NOT give the Republicans this chance!

I Don't Believe in Miracles

Nobel Laureate and one of a very few people who “get it” (or tell the truth) anymore, Paul Krugman, wrote an excellent piece the other day in the NYT debunking the myth of the “Texas Miracle” that has supposedly happened under Governor Rick / General Robert E. Perry. It’s great piece and although it doesn’t go far enough (to use one of his own famous critiques) I recommend that everyone read it, just I as Recommend reading pretty much ANYTHNG this man writes. (Barry? Are you listening?)

And last night the Gym some ass-hat two machines down from me not only had Fox News On, but had it turned UP. (Usually the TV's are muted and just show subtitles.) So I got to listen to a marvelously fact-free response from the four members of the Fox Panel who HAVE NOT won Nobel Prizes in Economics. Devoid of rational response, or evidence to support their so called “miracle,” they report to calling [Krugman's analysis] the “Alien Invasion” theory suggesting either that Krugman credits illegal immigration ALONE for ALL of Texas’ growth, or that he was suggesting that little green men, perhaps from Mars, were somehow to thank. And of course, the average Fox viewer is more likely to hear that explanation and think, “Wow, that Krugman sure is a nut!” rather than, “Wow, these Fox peoples sure are stupid!” Because remember:

A LIBERAL WILL TELL YOU WHY YOUR ARGUMENT IS WRONG.


A CONSERVATIVE WILL TELL YOU WHY YOUR ARGUMENT IS LIBERAL.

(As an aside, between how pissed off I was getting listening to Fox and the Trainer playing the Greatest Hits of the Rocky movies with one his clients, I did have a really good workout!)

(Another aside - I couldn't find a transcript of the Fox segment, but while looking for one, I found almost the next best thing: This Idiot's Blog.  Check it out, although preferably not right after you've eaten! We got a future Hall of Shamer here, for sure. I'm curious to see if he has the balls to let my comments post(he did! good on him!), and the chops to respond to them. Or come here! If he does, who knows? It might get interesting.)

Well, anyway, I’m all for debunking “Miracles” as anyone who understands my Humanist and Skeptical Philosophy already knows. And I heard an EXCELLENT story on NPR this morning that started where Krugman left off and ran with it, showing even more reasons why the “Texas Miracle” is unlikely to apply to the broader economy. You can find a transcript and audio HERE, but here are some of the highlights:

1) Population Growth: Texas has had an influx of immigrants, both legal and illegal, yes, but also many people moving there from other States. And, as Mister Krugman pointed out, it’s not like EVERY STATE’S population can grow based on people moving there from OTHER STATES. So, either it IS (or will have to be) an actual “Alien Invasion,” as Fox sarcastically put it, or it won’t work. Nice work there, Fox.

2) Public Sector growth has been every bit as robust as Private Sector growth. Liberals would be neither surprised nor bothered by this, but remember: He’s promising small Government. Apparently what’s been good for Texas will NOT in fact be good for the rest of the Country – at least according to him and his Tea-Backers.

3) The overwhelming majority of the private sector jobs have paid minimum-wage or less. Governor Perry, please, despite what your Tea-Backer and Supply-Side buddies will tell you, we don’t just want jobs. We want GOOD PAYING JOBS. Filling the economy with part-time, minimum wage jobs (or worse) is NOT what we’re looking for!

4) Despite all that Public Sector Growth – that the Right isn’t even prescribing? Texas ranks 49th in per pupil public school spending, and 50th – tied with Mississ-fucking-ssippi (or as my father-in-law calls it: The states that keep West Virginia from being LAST in anything) in the percentage of adults that go without health insurance.

5) Texas residence still go without many of the services that residents of every other state enjoy. Remember folks, because this is his recipe for success: Sub-Minimum Wage Jobs, and no Public Services. THAT’s the Texas “Miracle.”

6) Perry's “Enterprise Fund,” which gives taxpayer money to companies to come to, or expand in, Texas. *ugh* OK, putting aside that this is little more than Rick Perry giving tax-payer money to the company’s that back his campaign (alone enough to warrant his removal from office) this might sound a bit familiar. In one of the rare instance in which I agree with the tea-baggers, another word for this is… duh-dah-daaaaaah: STIMULUS. (You know: That thing they want to GET RID OF so we can have MORE JOBS?) (Idiots.) And in one of those rare instances that I agree with Rick Perry, depending on how this is administered this can be a good thing. Of course, I’d prefer public works projects to strait corporate giveaways, but, in a rare instance where Paul Krugman and Rick Perry would agree, the economic effect is largely the same: IT CREATES JOBS. But, of course, this will likely be off the table when it comes to the rest of the country.  The Tea Party Republican Retards have no intention of spending any money to fix anything. (At least, not while Obama's in office.)

And finally, the one that PISSES ME OFF THE MOST…

7) What kind of companies thrive in Texas? What are the biggest employers there, the ones driving most of that jobs growth? Well… Enron, ExxonMobil, Halliburton, Marathon Oil, Shell Oil, Texaco… You see the pattern yet? Mostly Oil Companies and other Energy Companies. And those guys have been doing great while the rest of the country’s economy remains in the shitter. Why? BOWEL-BASHINGLY HIGH GAS PRICES, THAT’S HOW!!!! These companies have made it their business model to siphon off as much of the rest of country's growth as possible! Well… OK… I’ll say potential growth, because with these greedy little fuckwads operating the way they do, they rest of the country will basically NEVER GROW AGAIN. Does that sound alarmist? Think about it. Since ~2005 or thereabouts (I've noticed it pretty clearly since the days after Hurricane Katrina) the pattern has gone in lockstep perfection:

1: Gas prices go up =>the economy slows.

2: Slow economy => no jobs => less demand => gas prices drop.

3: Low gas prices mean people have more money, as they are no longer being strangled by the oil companies. (Thank you, Mister Keyenes!)

4: More money => more demand => economy starts to improve.

5: Economy improves, demand goes up => GAS PRICES GO UP.

6: GOTO 1

And it doesn’t make a difference whether the oil is foreign or not. (Shell is a Dutch company. They still employ a lot of Texan-Americans.) The problem is that oil and gas (energy) prices will ALWAYS act as drag on the economy. They will ALWAYS be a negatively correlated indicator. Until we break their stranglehold we will not be able to escape this pattern. It’s like a tax on the rest of the economy, but one who’s rate actually goes up to the point that it kills growth as soon as there IS any. And nowhere has this kick-in-the-balls been more evident than in my home state of Michigan. High gas prices killed the SUV. That’s great for the environment, don’t get me wrong. It needed to happen, and it was inevitable that big-Auto would need to transition off of them. But the gas prices have gone back down since then! They slowed the economy and were really what kicked off the mortgage crisis. (Not the kindling, of course, just the spark.) And the two brought the Big Three automakers to the brink of bankruptcy. And we haven’t had a robust recovery – because the Republicans and big oil won’t LTE US!

Nice going.

Oh yeah… and as for the whole Low-Tax, low Regulation business environment?

8) Texas job growth has not kept pace with its population growth: They have higher unemployment that the high-tax, highly regulated, robust public service providing states of New York and Massachusetts. (You remember Massachusetts, right? The state with near-universal health care coverage, compared to Texas’ rank of dead last?)

So THAT’S his recipe folks:

• Shitty, Low paying jobs

• No public services

• Little to no health insurance

• Underfunded schools

• High gas prices

You know what? If THAT shit works? I just might start believing in “miracles!”

No Friday Fun...

I'm sorry.

This was just too shitty a day to be jovial.

I woke up to the news out at Fort Hood.

As if that travesty wasn't enough, far be it for the RIGHT to miss a chance to distort the facts about a National Tragedy for Political gains. Traitorous, un-American, fucking scumbags.

And after a whole day of hearing half the country MISS THE WHOLE FUCKING POINT, I get to drive home to economic reports about unemployment going over 10%.

Here the thing about that... The right blames OBAMA, and says to stop "blaming the previous administration for these things!" (Even though he's been in office 10 months and this recession started almost TWO YEARS ago!) But you know the LAST time unemployment went over 10%? You know was President? REAGAN. And WHO controlled the Senate? THE REPUBLICANS. And even though that was well over a full year into HIS administration, how many conservatives, when presented with those HISTORICAL FACTS, immediately try to blame all THAT on the PREVIOUS ADMINISTRATION?! Yeah.. that would be ALL OF THEM.

See, they not only traitorous scumbags, but hypocritical, whiny little bitches to boot.

OK... Bitch session over...

Here's what I wanted to do for my Friday fun, but I was in way too shitty a mood to do it right. I wanted to include a few of my favorite quotes from the campaign trail, some of which were rather unintentionally hilarious. Well, I can't do THAT, but here are a just a few of my fav's overall, anyway. (And I've used all of them on MMFA multiple times, so I'm afraid this will be nothing new to those who already know me.)

"When they stop telling lies about us, we'll stop telling the truth about them."
~Adlai Stephenson-D, c.1952 (about the Republicans, as if you needed to know.)

Scary how apt that still is, fifty-seven years later!

"I don't want the people who managed Hurricane Katrina to be managing my health care!"
~Mitt Romney-R, on the campaign trail, 2008.

I agree entirely, Mitt: I don't want the REPUBLICANS managing my health care either!

On his 11/4/09 Radio Show, Rush Limbaugh touted Doug Hoffmann's "good showing" in the election for the vacated NY-23 seat, applauded the conservative for having "kept a horrible Republican from possibly winning."

Well Rush, there's finally something we can both give him credit him for. You know... I hope y'all pursue this strategy from now though 2010 and on to 2012. It might keep a lot of HORRIBLE REPUBLICANS from winning. And God knows, this country can only benefit from fewer of these HORRIBLE REPUBLICANS .

"It's like they take pride in being ignorant!"
~SENATOR Barack Hussein Obama-D, on the campaign trail in 2008, finally realizing what he's up against.

Good night and good luck!