Saturday, December 21, 2013

Is The Economy Booming?

The 4.1 percent GDP growth in 3rd quarter 2013 is being touted as a sign that the economy is set to surge forward.  Really?

Obama celebrates an economy with 2 million jobs created in 2013.  Really?

The US economy will, for the entire year of 2013, still remain under 3 percent growth.  Historically, 3 percent is the average growth of the US economy.  In other words, 3 percent is mediocre. 

The real race is between the number of folks leaving the labor force and those who are finding jobs.

Anyone actually participating in this economy knows that it is still on life support.

Government policy under Obama is mainly aimed at propping up rich folks and undermining the life chances of the poor and the middle class.  In this, he is succeeding.

Passing more laws that make it illegal to offer poor people jobs is just one more example of Obama's plan to make life more difficult for the poorest among us.  Obama and Buffett and Mark Warner can applaud this since they will continue to ride at the top of the stagecoach.  Why not simply raise the minimum wage to $ 1,000 per hour.  At least that will treat almost all Americans equally instead of singling out poor people by moving the minimum wage to $ 9 or $ 10 per hour.  Why not let these rules apply to everyone -- make everyone rich (by their logic) -- raise the minimum wage to $ 1,000 per hour. (Buffet and Obama and Warner could support that, since they would not be effected).

This economy is stagnant.  Europe is in even worse shape.  The western world is plagued by the overreach of government.  There will be no real economic growth until these policies are halted.

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