Obama and Buffet: Two Peas in a Wilting Pod
Knew
I shouldn't have started reading the news. Here is a macro-economics
lesson for everyone. Yes, the unemployment rate is at 7.5%. However, we
get there by subtracting jobs that disappear, plus those who quit
looking for work, and we get what is known as the U3 unemployment rate.
The real rate, U6 (which includes all of those dirty details, like
quitting looking for work or the jobs that just disappear) is still well
over 12%.
There are now 9 million fewer people looking for
work or unemployed than there were 5 years ago when Obama took office.
Fewer jobs + fewer people looking for work = lower unemployment.
So, how is the DOW so high you may ask? Well, very simply, when we
bailed out the banks and passed Dodd/Frank, it gave a surplus of money
to the banks while simultaneously telling those same banks not to loan
the money. All the while, the Federal reserve is pumping money into the
economy keeping interest rates low, in order to keep the
economy afloat. So, the banks are getting money at almost zero percent,
can't loan money to people, and they can't hang on to the money, so
they are investing in the market. What you are seeing is an unbelievable
disparity between rich and poor grow wider and wider.
This is
not looking out for the middle class, the little guy, the poor, or
whatever else Obama wants to say he's trying to do. He is single handily
contributing to a widening gap between the rich and the poor. He is
single handily contributing to the rich getting richer, and the poor
getting poorer. We have over 50 million people on food stamps. We have a
growing epidemic of individuals who, once unemployment dries up, go on
disability. We have more people on medicaid than at any time in our
history. It is a disgrace.
This rant brought to you by the guy
who wants the Buffet rule enacted, so the rich pay more in taxes, all
the while fighting a billion dollar tax bill of his own. Meanwhile, his
company sees record profits. FYI - It's an investment company. I really
wish the people who don't give a shit would start at some point....
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