Bushenomics + McPalin = Disaster for USA & World Economy - Please Read

[Heather MC]

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The Fraud of Bushenomics: They’re Looting the Country
Please Read Entire Article Here

Bush arrived in 2001. Since then the Dow Jones is up just 10 percent. Adjusted for inflation, that's absolutely flat. (It was briefly up 23 percent. It is now below the 10 percent mark, and tumbling down as this is written). Just pain, no gain.

If jobs have not increased, salaries have gone down, and the value of business has not risen, where is that 35 percent growth in the economy?
There is a number called the M3 money supply.
The M1 is basically cash, plus checking and "current" accounts. The M2 adds savings accounts, money market accounts and CDs up to $100,000. The M3 adds in the big CDs, Eurodollar accounts and other large exotics.
Already rising very fast, the M3 took off like a rocket after 2001. The Fed stopped publishing the M3 in 2006 (conspiracy theorists, please note.) But a quick look at the chart of its growth, and assuming its trajectory continued, clearly shows that the M3 grew by something in the range of 35 percent.
The entire growth of the economy under Bushenomics is accounted for by growth in the money supply. <this kills that Repug argument that the economy grew under Bush's watch>

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Now let us look at job creation.
In the first six years of the Clinton administration, 13.7 million jobs were created. In the same period, under Bush, only 3.7 million jobs were created. Barely keeping up with population growth, if that. (Source: Fox News)

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When Bush came into office, a Euro cost 95 cents. Now it costs a $1.50. The Canadian dollar (the Loony) was 70 cents. Now it costs a dollar. Most mainstream economists and pundits will opine that a low dollar is good for American industry, because it will help us sell our goods. That's only true if we're producing things that no one else is -- or producing them better or cheaper -- and we're not.
Also, many foreign exchange rates are being kept artificially low against the dollar. Some, like many of the oil countries, are pegged to the dollar. They're making up for it by raising the price of oil (currently traded in dollars). Others, like the Asian manufacturing countries, are keeping their currency down to retain their edge in selling here, thereby canceling whatever advantage we're supposed to get from declining currency.
One way to think of what the administration has done, is as a leveraged buyout. That's when someone buys a company, using the company itself as the collateral for the loan used to purchase it, usually at very high interest, then pays off the interest by cutting the work force and salaries, selling outsets and even breaking up the company.
It's good for the guy who makes the deal, skims the cream off the top and gets rich. (The company that Mitt Romney got rich working for specialized in doing that.) It's good for the lenders, who get a good return (if the buyer is able to squeeze enough money out of his purchase), but it's bad for the work force, bad for the company, and, if no one comes along to replace it, bad for the business as a whole.
We've experienced a leveraged buyout of the national economy.

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Please read the entire article (here)

[movonne]

1. Maybe it is me but I do not see a link... thanks