The results of Obamanomics

[opebo]

'Obamanomics'?  You mean his continuation of every economic policy precisely as it was implemented by the previous administration?

[opebo]

Carl Heydan, $4.00/gallon gas is the norm when the economy is not in severe freefall, as we have come to accept over the last decade.  If China, India, and the rest are growing as normal, and the US and Japan are in stasis as normal, and the EU growing very slightly, as normal, there will be an extremely tight supply of oil.  This has nothing to do with Obama, and everything to do with the fact that this is simply the normal price of a scare commodity (and it will get more expensive).

Regarding 'inflation' - we're still in severe deflation in the US.  Haven't you notice that the price of  housing is still plummeting?  This is far more significant than the price of a loaf of bread. 

[opebo]

'Obamanomics'?  You mean his continuation of every economic policy precisely as it was implemented by the previous administration?

The "ubber liberal" president seems to coincide with the fiscal policies of the previous big government "conservative."  Though I don't blame Bush or Obama entirely for the economic collapse (Cyclical economics), it's seems clear to me that they both have/had a hand in extending it.

But of course.  They are not allowed to fix it because they are the servants of Capital, JBack.

[opebo]

-8.6% unemployment rate
-$4 trillion increase in the debt since Obama's tenure began
-$14.3 trillion debt
-25% increase in debt each year compared to 12.5% each year under Dubya

The trough after capitalism's inevitable crash lasts a long time - probably at least another president or two after Obama.  But the causation is Reagan through Bush II, not Obama.  This is in fact the best argument for Keynesianism - the near impossibility of recovery after capitalism's inevitable crash.

[opebo]

The problem with the funny stagflation theory is that we're still in severe deflation.

[opebo]

The problem with the funny stagflation theory is that we're still in severe deflation.

How so?

Property's falling.

[opebo]

WASHINGTON | Fri Jun 3, 2011

(Reuters) - Employment rose far less than expected in May to record its weakest reading since September, while the jobless rate rose to 9.1 percent.

http://www.reuters.com/article/2011/06/03/us-usa-economy-idUSTRE7492P720110603

The only possible rationale which follows from your alarum is to apply large scale Keynesian redistribution and government takeover of the economy.

[opebo]

Well he actually came to use 'ruined', but still its good give him a good kicking around.

[opebo]

Getting close to Spanish levels.

No reason it shouldn't.  Neo-liberalism dictates a dearth of demand and employment.

[opebo]

Its nice to see you admit that you want the dollar devalued. 

In your strange world, we will be so much better off when it reaches the level of the currency of Zimbawbwee.

The better example of a country with an undervalued currency would be China, C.H.

Besides, surely you don't want endless appreciation of the dollar now do you?  Maybe 10 Euro to the dollar, or 500 Yen?  Higher isn't always better.

[opebo]

Why do you hate the free market, karlhayden?  It is precisely a reduction of employment which achieves the free market solution to depressions - reduction in wages to a market-clearing price.  That or starvation, same thing.