It's The Economy Stupid--Part 2

The following couple paragraphs are from a client and friend of mine reflecting on what the economy has done to  his business. He sells parts for Corvettes and other GM vehicles.  His business has been impacted severely and he is very spartan with his money.  He would have been out of business had he been a spend thrift.

His comment along with those made by Wayne Allyn Root are illustrative of how bad the economy really is.  All the "happy talk" by the Administration cannot eliminate the poor economy or the job market that is sub-par, at best. Add on top of that that most of those jobs are part-time and you have a recipe for disaster. 

Unless things turn around quickly, we will go into another recession which will be the worst since the Great Depression of the 30's.  We will look back at the Great Recession that started in 2008 with memories of the "good times."

Conservative Tom

He is pretty much correct and we are screwed!  I bought the other building in 2003 figuring I could probably pay it off with about 6 good years and we haven’t had any good years since then!

There is almost no incentive for anyone to start a business anymore.  I guess I am glad I got in business back in 1970 and we had more good years than bad years for a long time.  Back then, I could even figure out how to make money on a downturn since they didn’t last that long, but in a decade long bad economy, there is not much you can do!  Thank God I accumulated a lot of assets in the past as it is very hard to get ahead any more.  The current economy also makes it very hard to get out of business successfully.  It is especially depressing since there is almost nothing an individual person can do about it.  The whole country is heading toward a  bigger version of our famous Detroit.  Now I see they filled another challenge to Duggan’s candidacy.  The dumb get dumber!

Why we can kiss the US economy goodbye

By Wayne Allyn Root

August 5, 2013

I don’t mean to say, “I told you so.” But I told you so.

In my latest book, “The Ultimate Obama Survival Guide: How to Survive, Thrive, and Prosper During Obamageddon” I listed hundreds of statistics proving that the U.S. economy was headed for total collapse. But that was all written months ago. Unfortunately, the worst was yet to come.

The results are in. The picture is grim. Here are some frightening economic numbers to think about the next time the lying, manipulating, mainstream media tells you that we are in “recovery.”

First, almost 50% of Americans have less than $500 in savings. Not surprisingly 1 out of 3 residents of Obama’s home state of Illinois live in poverty. A mind numbing 4 of 5 Americans are either experiencing poverty, foreclosure or welfare, or will in their lifetime. Four out of five.Say goodbye to the myth of the American Dream. It’s only a nightmare now.

Ditto for the American middle class. Obama has massacred them. Our middle class now ranks 27^thin the world. 

I’ve argued from day one that Obama’s goal was to create a two class society. The two classes are the super-rich (who are beholden to Obama for corporate welfare, bailouts, and government contracts), and the poor (who are beholden to Obama for checks to survive). Look no further than the new immigration bill to see the final destruction of middle class wages.

More grim news just in: Auto sales are collapsing. Construction jobs are falling off a cliff. And U.S. factory orders just suffered the biggest drop in a year.

Almost 80% of the jobs created in Obama's America are part-time jobs that won’t pay the bills of an average middle class lifestyle.

What about jobs? Isn’t that picture getting rosier by the minute? 

Well actually, no. Let’s analyze the REAL numbers: Since the start of 2013 we’ve gained 953,000 jobs, but amazingly 731,000 of them are crummy low-wage part time jobs. That means almost 80% of the jobs created in Obama's America are part-time jobs that won’t pay the bills of an average middle class lifestyle.

High quality jobs under Obama they are losing out by 10 to 1 versus crummy low-paying jobs. Facts don’t lie: So far this year over 246,000 low-paying waiter or bartender jobs have been added to the U.S. economy, versus only 24,000 high-paying manufacturing jobs.

How bad is it? Well here’s a Hall of Fame Triple Play:

The Obama administration just hired a company to promote ObamaCare over the phone to Americans -- guess what? Even those jobs are part-time, with no health insurance!

The head of the IRS just testified in front of Congress that he’d rather keep his own health insurance, rather than switch to ObamaCare. The IRS is in charge of ObamaCare, and even they don’t want any part of it.

And, the second biggest employer in America is now a temp agency! 

Good luck looking for a quality job in this Obama economy.

Still not convinced? 

Food stamp rolls are growing seventy-five times as fast as employment. The national debt has increased by 50% under Barack Obama. Obama promised to reduce health insurance bills for an average American family by $2,500 per year, instead your health bills went up by $3,000 per year. 

Meanwhile, labor participation by men is at the lowest rate ever measured – since they started tracking it in 1948. And here’s the clincher: 90 million able-bodied, working-age Americans are not working.

And if you think help is on the way, I've got a bridge to sell you ... in Detroit. The biggest American city to ever go bankrupt, Detroit, has been run by Democrats since 1962. That's over half a century of 100% Democrat rule, using the exact same policies as Obama. 

The city is now in ruins. Detroit leads the nation in illiteracy, welfare, food stamps, violent crime, murder, abandoned properties, and broken street lights.

The city of Detroit’s downfall is built around four core ideas: never-ending entitlement spending, the most government employees per capita of any city in America, monstrous debt, and the highest property taxes in America. 

But wait, isn’t that Obama’s exact prescription for the nation? High taxes, more spending, more debt, and more government employees. Bingo. Help isn’t coming folks. The cavalry isn’t riding in to save us. They are coming to destroy us.

Detroit is certainly the future of America under Obama. It’s the exact same policies. We are experiencing Groundhog Day -- doing the same stupid things, and expecting a different result.

One last morsel of food for thought: The EU is in the middle of a Great Depression. Countries like Spain, Portugal, Italy, France, Greece and Cyprus face total disaster. Their economies are ruined for generations to come. 

Yet America under Obama now has more debt than every country in the European Union-combined. Our country has more government debt than any country in the history of the world.

Say goodbye to the U.S. economy. It’s been nice while it lasted.