Sunday, January 18, 2015

ObozoNomics: Still Sucking After All These Years

Before Golfer-in-Chief tells you all the unicorn-and-rainbow crap about how wunnerful his economic performance is, let's remember a few facts which he will NOT mention.

The number of people actually working in the US as a percentage of eligible workers continues to decline.

The "jobs created" in both November and December were heavily salted with part-time work in restaurants, bars, and retail stores.

December retail sales were the worst in 12 months.

Wages are flat, and average hours worked remains under 35/week.

Young adults who are lucky enough to HAVE a job are earning ~$2,000/year less than the same cohort in 1980.

The economy has NET-gained only 225,000 jobs/month in the last year.  "Job openings" sounds wonderful--but let's not forget layoffs and permanent separations (Obozo will.)

And let's not forget the copper-crash of the last 60 days or so.  That is usually a sign of impending recession.

ObozoNomics:  not good for the US nor any of its citizens.

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