In fact, one of the worst things about politicized economics is the false promise that politicians know what the ideal economy looks like, never mind having solid plans for getting there. Is the ideal economy one in which everyone’s basic needs are covered? Welcome to the endless grey fog of the collectivist welfare or communist state, which always proves unsustainable and fails to deliver on those promises anyway.
The strong dollar, low interest rates and pent-up demand should drive after-tax growth in real consumer spending and a doubling of the rate of housing growth, according to Lombard Street Research.
The global shock from the release of the U.S. Environmental Protection Agency (EPA) long-postponed draft report stating that hydraulic fracturing (fracking) has not had a “widespread, systemic impact on drinking waste” caused “cheap” natural gas prices to collapse another 16 percent.
U.S. economic growth stalled out in the first quarter of 2015 as the domestic energy boom caused a short-term collapse in capital spending, large lay-offs in the oil industry, and a 15 percent jump in the exchange rate of the US dollar. A pattern of slowing GDP just before a consumer spending boom takes off is consistent with what happened the last time a big rise in U.S. crude oil production tanked gasoline prices beginning in 1986.
We’ve been hearing this ridiculous garbage about cold winters freezing the engines of the mighty Obama growth engine every year for the past six years. The hard, cold truth is that we’ve never had sustained growth under this President’s policies that could do anything more than slow the bleeding in the American workforce. Everything he does, from ObamaCare to his amnesty orders for illegal aliens, is a job-killer. It’s a tribute to the underlying strength of the American economy that we’re not in even worse shape.
Former Obama Senior Advisor David Axelrod predicted Hillary Clinton will face questions on the economy because “there’s a sense that work doesn’t pay” on Friday’s “Andrea Mitchell Reports” on MSNBC. “We have an economy that has recovered from the recession,
A year ago, the Inland Empire cities of Riverside and San Bernardino were ranked as “Among Slowest To Recover Since Recession,” in unemployment rates, median income and home prices. But those low costs have sparked a new economic boom as Riverside and San Bernardino counties’ job growth now only trails the Silicon Valley tech hubs of Santa Clara and San Francisco counties, according to a report released Thursday at an Ontario economic conference.
Despite President Obama’s happy talk, it is clear that America’s recovery from recession isn’t going as well as it needs to.
