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Obama is lying again!

BeAChooser

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Heads up. Obama is LYING again, folks.

http://www.nypost.com/seven/0209200.../its_a_recession_not_a_catastrophe_154174.htm

PRESIDENT Obama, writing in The Washington Post, said, "By now, it's clear to everyone that we have inherited an economic crisis as deep and dire as any since the days of the Great Depression."
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This is an outright LIE. As pointed out in the above linked article, this downturn is no where near as bad as the ones in 1981-82 and 1973-75 by most ways of measuring it. They even provide a handy chart

oped025a.jpg


to summarize the comparison. Obama must know these things ... unless he's surrounded himself by total incompetents and is an incompetent himself ... and I don't think either he or his staff are THAT incompetent. So he must be lying. Why? Simple. To create enough fear that his misnamed stimulus bill will be passed ensuring that future generations will be even more dependent on government than now. So you can fork over even more of your income to the government. It's all part of his socialist agenda. But hey ... it's what you folks voted for, so let's hear no complaints. :D
 
Then what are all these Stimulus packages for?

I mean a trillion or so dollars were spent on Iraq, we've easily exceeded that with these fricken stimulus packages
 
The statement that "we have inherited an economic crisis as deep and dire as any since the days of the Great Depression" is clearly a judgement. I could as well argue even though unemployment as a percent is lower now than it was in '81-82, the situation now is much dire.

I notice on the economic indicators you selected, you left out the Federal deficit, the stock market and other measures.
 
If it is not as bad by most measures, then presumably there is at least one measure by which it is worse. If that is the case, then Obama is not lying.
 
It's rhetoric designed to appeal to the masses for support of his economic policies.

You do realize he's a politician don't you?
 
>500,000 jobs lost/month for +3 months is a rather dire fact.
 
Just thinking said:
OK ... but folks, as bad the Great Depression?
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No, but the worst since then, I would say.

At least, I anticipate that it will be. Employment tends to lag economic contraction. In other words, a lot more people will lose their jobs before this is all over.

ETA: And I sincerely hope I'm wrong, because if I am right, one of those jobs lost is likely to be mine. I've survived the company layoffs so far, but if I've read the tea leaves correctly, I won't make it past the next round.
 
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Meadmaker said:
If it is not as bad by most measures, then presumably there is at least one measure by which it is worse. If that is the case, then Obama is not lying.
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One metric is market capitalization. In October of 2007 the total market capitalization of all the companies traded on the world's securities exchanges was $63 trillion, and by November 2008 it was $31 trillion. Probably the first time that the value had fallen by that much that rapidly (although someone can correct me if there was a steeper drop. Basically a 50% drop in a year.

ETS: source
 
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Those stats, like unemployment, are increasing each month. We don't know when and where it will peak so I don't think you can really compare it to previous recessions/depressions until the peaks have subsided. At the very least, our economy is incredibly vulnerable right now
 
portlandatheist said:
Those stats, like unemployment, are increasing each month. We don't know when and where it will peak so I don't think you can really compare it to previous recessions/depressions until the peaks have subsided. At the very least, our economy is incredibly vulnerable right now
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I was going to make that point. We don't know where this recession is headed. It may end up being much worse than the previous ones, or not as bad. No way to know right now.

Interesting chart here graphing unemployment rates against the months after the onset of recessions. The current one is pretty much in the middle of the pack.
 
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