The American People are more Pessimistic About Economy Than at Any Time Since Obama Took Office

Source: Rebel Traders

Yep, that is right. Since President Obama took office the overall mood of the American people has deteriorated more and more when it comes to economic outlook and how well the government has responded.

Americans are more pessimistic about the nation’s economic outlook and overall direction than they have been at any time since President Obama’s first two months in office, when the country was still officially ensnared in the Great Recession, according to the latest New York Times/CBS News poll.[...]

Capturing what appears to be an abrupt change in attitude, the survey shows that the number of Americans who think the economy is getting worse has jumped 13 percentage points in just one month. Though there have been encouraging signs of renewed growth since last fall, many economists are having second thoughts, warning that the pace of expansion might not be fast enough to create significant numbers of new jobs.[...]

I love this line: “many economists are having second thoughts”. Not me, I never had to give it a second thought and many readers here know this. The pace of economic expansion (if that is what you want to call it) is all founded on false hope, the endless printing of money,  and number manipulation from the government.

We are still sitting at weekly unemployment claims in the neighborhood of 400,000, yet the ‘official’ unemployment rate drops for reasons the administration won’t tell you. The labor participation rate being the primary contributor to the numbers game continues to drop thus distorting the real picture. While there has been some stabilization in the jobs market, it is no where near as optimistic as Obama et. al. want you to believe.

The number of Americans needing food stamps and/or other food assistance continues to set new records with each report. Income levels have been stagnant for the lower and middle class for years. ObamaCare is turning into a nightmare for many based on anecdotal (and published) reports and the bad thing is that the full impact of ObamaCare won’t really be felt until 2014 and 2015. Recall that President Obama said it would help small companies provide health insurance for their lower income workers. This was stated during the 2010 State of the Union Address. In the short time since ObamaCare became law the administration has granted over 1,000 (and still counting) waivers to companies so they don’t have to comply with the new law.

And with the never ending money printing by the Federal Reserve the value of the American dollar continues to drop, sending fuel prices (and just about everything else a family needs to survive) skyrocketing upwards. It is any wonder why it is that the mood of the American people is so bad? I think it is pretty obvious and I am genuinely afraid of where this will end up. More families will lose their homes, more people will be seeking financial assistance for food, more people will obtain poverty status, and the jobs market will be soft for many more years to come, at best.

American people have always turned to their leaders for guidance and comfort. And for just as many years as America has been a nation the leaders have always done the same thing… told them that everything is just great and not to worry. It’s all bull crap and the American people need to wake up and realize that their elected officials don’t work for them as the constitution states they must do. Never in my 49 years of life so far have I witnessed a time when corporate America has had so much control over the government, leaving the average taxpayer to fend for themselves.

So without any further ranting of my own here are the latest stats…

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Source: NYTimes)

The American People are more Pessimistic About Economy Than at Any Time Since Obama Took Office is a post from: Rebel Traders – Stock Market and Economic Analysis

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