archBoston Presidential Poll 2012

For whom will you be voting on Tuesday?

  • Total voters
    44
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Then & Now: The Last Time the Dow Touched 14,164

LAST TIME THE DOW TOUCHED 14,164:

•GDP Growth: Then +2.5%; Now +1.6%

•Regular Gas Price: Then $2.75; Now $3.73

•Americans Unemployed (in Labor Force): Then 6.7 million; Now 13.2 million

•Americans On Food Stamps: Then 26.9 million; Now 47.69 million •
Size of Fed's Balance Sheet: Then $0.89 trillion; Now $3.01trillion
•US Debt as a Percentage of GDP: Then ~38%; Now 74.2%

•US Deficit (LTM): Then $97 billion; Now $975.6 billion

•Total US Debt Oustanding: Then $9.008 trillion; Now $16.43 trillion

*******************************
Added data points:
Then = 10/09/07; Now = Almost 5 years 4 months later
Current Dollar GDP: 2007 $14.028 Trillion; Now (2012) $15.682 Trillion (11.8% increase)
GDP Price Deflator: (10/1/07) 106.958; (10/1/12) 116.068 (8.5% increase)
GDP increase adjusted for inflation (as understated by the FED) $14.028 Trillion to $14.451 Trillion (3% increase)
Click to expand...

Take a look at my numbers. Not sure who made those charts. (Sid the Science Kid maybe) The charts are based on a dollar that is becoming worthless for a nation of sheep.

These numbers alone show the FAILURE of OBAMA policies.
 
Last edited:
datadyne007,

I hate to state something personal like this, but you have to be insane to think Obama is a paragon of fiscal restraint. That chart is a heaping pile of bullshit and I cannot fathom how anyone could produce it with intending to deliberately be dishonest.

I suggest you review the data yourself:
http://www.whitehouse.gov/omb/budget/Historicals
-See Table 1.3

As far as the DOW's current high, it has nothing to do with the ponderous state of the economy and more to do with inflation and the lack of any interest to be gained in savings accounts. One has to put their money in the market if they have any hopes of it retaining any value.
 
Houston we might have a problem.

NOTICE: They Didn't Audit The Gold (it isn't the Fed's anymore?)

1st (preliminary?) Audit of US Federal Reserve

1st Audit Results In Federal Reserve Nearly 100 Year History Posted Today
First Audit Results In The Federal Reserve’s Nearly 100 Year History Were Posted Today, They Are Startling!
Saturday, September 1, 2012 12:50
(Before It's News)

http://beforeitsnews.com/economy/20...-today-the-results-are-startling-2449770.html

Source: Sott

Rep. Ron Paul (R-Tex.) wins (again) the most significant victory of his congressional career. He has taken his pet issue since the 1970s--the unwarranted power and secrecy of the Federal Reserve--from something pretty much no one but him cared about six years ago, through a bestselling book and mass movement by 2009, the second time he's gotten the House of Representatives to vote to widen the government's powers to audit the Fed's activities.

Huffington Post with details about the vote , and on Paul's Democratic ally equally upset with the Fed's lack of transparency, Rep. Dennis Kucinich (D-Ohio):

In a rare moment of bipartisanship, the House overwhelmingly passed a bill by Rep. Ron Paul (R-Texas) to audit the Federal Reserve.

The first ever GAO (Government Accountability Office) audit of the Federal Reserve was carried out in the past few months due to the Ron Paul, Alan Grayson Amendment to the Dodd-Frank bill, which passed last year. Jim DeMint, a Republican Senator, and Bernie Sanders, an independent Senator, led the charge for a Federal Reserve audit in the Senate, but watered down the original language of the house bill(HR1207), so that a complete audit would not be carried out.



© The Silver Bear Cafe
Ben Bernanke (pictured to the LEFT), Alan Greenspan, and various other bankers vehemently opposed the audit and lied to Congress about the effects an audit would have on markets. Nevertheless, the results of the first audit in the Federal Reserve's nearly 100 year history were posted on Senator Sander's webpage earlier this morning.

What was revealed in the audit was startling:

$16,000,000,000,000.00 had been secretly given out to US banks and corporations and foreign banks everywhere from France to Scotland. From the period between December 2007 and June 2010, the Federal Reserve had secretly bailed out many of the world's banks, corporations, and governments. The Federal Reserve likes to refer to these secret bailouts as an all-inclusive loan program, but virtually none of the money has been returned and it was loaned out at 0% interest. Why the Federal Reserve had never been public about this or even informed the United States Congress about the $16 trillion dollar bailout is obvious - the American public would have been outraged to find out that the Federal Reserve bailed out foreign banks while Americans were struggling to find jobs.

To place $16 trillion into perspective, remember that GDP of the United States is only $14.12 trillion. The entire national debt of the United States government spanning its 200+ year history is "only" $14.5 trillion. The budget that is being debated so heavily in Congress and the Senate is "only" $3.5 trillion. Take all of the outrage and debate over the $1.5 trillion deficit into consideration, and swallow this Red pill: There was no debate about whether $16,000,000,000,000 would be given to failing banks and failing corporations around the world.

In late 2008, the TARP Bailout bill was passed and loans of $800 billion were given to failing banks and companies. That was a blatant lie considering the fact that Goldman Sachs alone received 814 billion dollars. As is turns out, the Federal Reserve donated $2.5 trillion to Citigroup, while Morgan Stanley received $2.04 trillion. The Royal Bank of Scotland and Deutsche Bank, a German bank, split about a trillion and numerous other banks received hefty chunks of the $16 trillion.

"This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else."- Bernie Sanders (I-VT)
When you have conservative Republican stalwarts like Jim DeMint(R-SC) and Ron Paul(R-TX) as well as self identified Democratic socialists like Bernie Sanders all fighting against the Federal Reserve, you know that it is no longer an issue of Right versus Left. When you have every single member of the Republican Party in Congress and progressive Congressmen like Dennis Kucinich sponsoring a bill to audit the Federal Reserve, you realize that the Federal Reserve is an entity onto itself, which has no oversight and no accountability.

Americans should be swelled with anger and outrage at the abysmal state of affairs when an unelected group of bankers can create money out of thin air and give it out to megabanks and supercorporations like Halloween candy. If the Federal Reserve and the bankers who control it believe that they can continue to devalue the savings of Americans and continue to destroy the US economy, they will have to face the realization that their trillion dollar printing presses will eventually plunder the world economy.

The list of institutions that received the most money from the Federal Reserve can be found on page 131of the GAO Audit and are as follows..

Citigroup: $2.5 trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)
and many many more including banks in Belgium of all places
View the 266-page GAO audit of the Federal Reserve (July 21st, 2011):

Federal Reserve Chairman Ben S. Bernanke participated in a live webcast of a town hall meeting with educators on Thursday, September 30, 2010 from 2:30-3:30 p.m. EDT. During this session, Chairman Bernanke answered teachers' questions about the Federal Reserve and the economy.

Please Feel Free To Share This Link:

http://economy/2012/09/first-audit-...-today-the-results-are-startling-2449770.html

http://beforeitsnews.com/economy/20...-today-the-results-are-startling-2449770.html
Click to expand...
 
The following are 20 signs that the U.S. economy is heading for big trouble in the months ahead…

"
#1 Freight shipment volumes have hit their lowest level in two years, and freight expenditures have gone negative for the first time since the last recession.

#2 The average price of a gallon of gasoline has risen by more than 50 cents over the past two months. This is making things tougher on our economy, because nearly every form of economic activity involves moving people or goods around.

#3 Reader’s Digest, once one of the most popular magazines in the world, has filed for bankruptcy.

#4 Atlantic City’s newest casino, Revel, has just filed for bankruptcy. It had been hoped that Revel would help lead a turnaround for Atlantic City.

#5 A state-appointed review board has determined that there is “no satisfactory plan” to solve Detroit’s financial emergency, and many believe that bankruptcy is imminent. If Detroit does declare bankruptcy, it will be the largest municipal bankruptcy in U.S. history.

#6 David Gallagher, the CEO of Town Sports International, recently said that his company is struggling right now because consumers simply do not have as much disposable income anymore…

“As we moved into January membership trends were tracking to expectations in the first half of the month, but fell off track and did not meet our expectations in the second half of the month. We believe the driver of this was the rapid decline in consumer sentiment that has been reported and is connected to the reduction in net pay consumers earn given the changes in tax rates that went into effect in January.“

#7 According to the Conference Board, consumer confidence in the U.S. has hit its lowest level in more than a year.

#8 Sales of the Apple iPhone have been slower than projected, and as a result Chinese manufacturing giant FoxConn has instituted a hiring freeze. The following is from a CNET report that was posted on Wednesday…

The Financial Times noted that it was the first time since a 2009 downturn that the company opted to halt hiring in all of its facilities across the country. The publication talked to multiple recruiters.

The actions taken by Foxconn fuel the concern over the perceived weakened demand for the iPhone 5 and slumping sentiment around Apple in general, with production activity a leading indicator of interest in the product.

#9 In 2012, global cell phone sales posted their first decline since the end of the last recession.

#10 We appear to be in the midst of a “retail apocalypse“. It is being projected that Sears, J.C. Penney, Best Buy and RadioShack will also close hundreds of stores by the end of 2013.

#11 An internal memo authored by a Wal-Mart executive that was recently leaked to the press said that February sales were a “total disaster” and that the beginning of February was the “worst start to a month I have seen in my ~7 years with the company.”

#12 If Congress does not do anything and “sequestration” goes into effect on March 1st, the Pentagon says that approximately 800,000 civilian employees will be facing mandatory furloughs.

#13 Barack Obama is admitting that the “sequester” could have a crippling impact on the U.S. economy. The following is from a recentCNBC article…

Obama cautioned that if the $85 billion in immediate cuts — known as the sequester — occur, the full range of government would feel the effects. Among those he listed: furloughed FBI agents, reductions in spending for communities to pay police and fire personnel and teachers, and decreased ability to respond to threats around the world.

He said the consequences would be felt across the economy.

“People will lose their jobs,” he said. “The unemployment rate might tick up again.”

#14 If the “sequester” is allowed to go into effect, the CBO is projecting that it will cause U.S. GDP growth to go down by at least 0.6 percent and that it will “reduce job growth by 750,000 jobs“.

#15 According to a recent Gallup survey, 65 percent of all Americans believe that 2013 will be a year of “economic difficulty“, and 50 percent of all Americans believe that the “best days” of America are now in the past.

#16 U.S. GDP actually contracted at an annual rate of 0.1 percentduring the fourth quarter of 2012. This was the first GDP contraction that the official numbers have shown in more than three years.

#17 For the entire year of 2012, U.S. GDP growth was only about 1.5 percent. According to Art Cashin, every time GDP growth has fallen this low for an entire year, the U.S. economy has always ended up going into a recession.

#18 The global economy overall is really starting to slow down…

The world’s richest countries saw their economies contract for the first time in almost four years during the final three months of 2012, the Organisation for Economic Co-operation and Development said.

The Paris-based thinktank said gross domestic product across its 34 member states fell by 0.2% – breaking a period of rising activity stretching back to a 2.3% slump in output in the first quarter of 2009.

All the major economies of the OECD – the US, Japan, Germany, France, Italy and the UK – have already reported falls in output at the end of 2012, with the thinktank noting that the steepest declines had been seen in the European Union, where GDP fell by 0.5%. Canada is the only member of the G7 currently on course to register an increase in national output.

#19 Corporate insiders are dumping enormous amounts of stockright now. Do they know something that we don’t?

#20 Even some of the biggest names on Wall Street are warning that we are heading for an economic collapse. For example, Seth Klarman, one of the most respected investors on Wall Street, said in his year-end letter that the collapse of the U.S. financial system could happen at any time…

“Investing today may well be harder than it has been at any time in our three decades of existence,” writes Seth Klarman in his year-end letter. The Fed’s “relentless interventions and manipulations” have left few purchase targets for Baupost, he laments. “(The) underpinnings of our economy and financial system are so precarious that the un-abating risks of collapse dwarf all other factors.”
Click to expand...
"

I'm not trying to say the glass is half empty......But I see some serious RED flags popping up everywhere. Especially when Joe Francis' producer of Girls Gone Wild - is filing bankrupcty.
 
Man, if a guy selling overpriced DVDs of stuff you can get for free online can't make it anymore, who can?
 
BREAKING: 236,000 jobs in February; jobless rate falls to 7.7 pct., lowest in 4 years.

**Construction jobs rise by 48,000 in February. Since sept: 151,000 added.**
 
Yeah, that chart is bullshit. It definitely feels like Obama is a tax and spend liberal and that's enough for me. Facts shmacts.
 
Nexis4jersey said:
Will anything make you people happy? Why can't people be Happy?
Click to expand...

Who said we are not happy?

Just posting facts on how these political hacks have turned govt spending into looting the working class individuals and calling it job creation.

I just don't want to see our society turned into a dicatorship country like how Putin runs Russia.

Putin might be one top richest individuals in the world without ever inventing or innovating anything for society.
 
jass said:
You do realize that every time a baby boomer retires, they leave the labor force right?

And thats a good thing?

And that right now is when theyre reaching retirement age?

And that as the US population rises, the number of people not in the labor force will ALWAYS increase?
Click to expand...

THe point of the article is to show that the actual unemployment rate hasn't gone down. Rather, the amount of people in the workforce has decreased. There is nothing Obama or anyone else could've done to change this.

I blame social media.
 
It's not very likely the US will see a consistent 3-4% unemployment prior to the Great Recession in the near future. The reason why many economists has pointed that 6-8% unemployment may be the new full employment is due to the lackluster performance of Europe. The pre-Great Recession economy was supported with a growing Europe and a booming China, but this is certainly not the case. Many parts of Europe is languishing between small growth and a recession and China has slowed down since its double-digit growth. This is nothing that the president or even the US can change quickly. If China, and it's enormous population and investment couldn't shore up Europe, then the US themselves can't. It requires other nations as well to fix their economy. And so this is what the globalize economy has come to.
 
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