By Christiaan van Huyssteen (@cvh23)
This information is so simplistic and out of context, it doesn’t even make for good propaganda.
- Dow Jones
Before we get to why the stock market is so high, we should ask: why does it matter? Do you measure the success of the president by how high the stock market is? The president doesn’t have a mandate to keep the DJIA above a certain level, but you choose to congratulate him for it anyway. As to why the stock market is so artificially high? Well that is simple. If you bail out financial institutions, print $4t dollars over a period of 5 years and make interest rates 0,25%, of course you will inflate the stock market to artificial bubble like levels. And this, almost exclusively only benefits the rich, and hurts the middle class and poor (by stealing their savings).
This unemployment is measured at the narrowest possible definition. People who have been discouraged and no longer looking for work are not classified as unemployed, they are simply not counted. And beyond that, the jobs that are being created are part time and low paying.
- GDP growth
This number is purely fictitious, at last measurement, US GDP growth is a very average 1,9%.
- Budget Deficit
Some creative accounting went into this figure. If you look at new debt being added to the national debt every year, you will see that is has stayed roughly the same. New debt to GDP was 6,9% in 2008, and is 6,2% in 2014. It took about a 100 years to get the national debt up to $10t. It has taken Obama 5 years to almost double it and take it to $18t. The scary thing is that almost one 3rd of this debt is held by the Federal Reserve (they owe money to themselves).
- Consumer Confidence
Consumer confidence is an easy one to debunk. It is not based on any empirical facts, rather it is a measure how confident people feel about the economy. If they are continually bombarded by propaganda like this telling them how well the economy is doing, and they see the stock market doing well (for the reasons explained..) they will naturally feel more confident about the economy. This does not mean there is any improvement though.
This is nothing more than some face saving misinformation to try save some dignity after so many lies. Have no doubt, the Republicans would have done the same, but somehow it is just more irritating seeing this type of stuff come from self-righteous liberals.
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