9 ways the financial crisis still hurts
The bank bailouts 5 years ago saved the financial system from collapse. In many ways the economy is much better now -- but in some critical ones, deep problems remain.
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The reason it feels like there has been no recovery is because there has been no recovery. With the exception of the stock market, which is being propped up by the Fed, almost every other metric you look at over the last decade is worse than when Obama took office.
And I'll update just to give a few:
Average household income down over 4%
Employment participation rate at 1970's levels.
Over 70% of jobs that have been created are part time.
The real unemployment rate is well over 10%
The number of new houses being built is only one third the number prior to the meltdown.
Gas is almost double (and over double in some locations) than when Obama took office. That's DOUBLE in 5 years.
And anyone who believes the real inflation rate is under 3%, like the government tells you, is delusional.
....just to name a few.
Oh, and an additional update because I left out a few other things:
More Americans in poverty under Obama.
More Americans on food stamps under Obama, and that number has doubled too in his time in office.
More Americans on welfare under Obama.
You can try and make this administration look good all you want, but the facts are that almost everything is going in the wrong direction precisely because of this administration. There has been no recovery. I stand by that statement.
So, for those who give a thumbs down, bring on your data and prove me wrong. If you just leave a thumbs down but can't quite seem to figure out where my facts are wrong, as well as leave a reply that proves me wrong, then your vote is as empty as your head.
There is no growth, no hope in Obama's America.
Thanks for Fing the middle class you POS.
The worlds economy has changed since the bailout of 08 its never going back to the previous levels of employment or free market capitalism.
The economy is worse now than in 2008. Wages are down; prices are up. Unemployment and underemployment is up and incredibly long-term. Lower worker participation rates
Statistics which show a slightly increasing GDP hide the fact that 95% of new income created during this "recovery" has gone to the top 1%. That is wealth redistribution from the citizens to the biggest corporations and wealthiest owners thereof. That is why the stock market has soared. Uncle Sam has helped big busn steal from the citizens.,
Does the author of this article really expect to convince anyone with an intelligence level above her shoe size that the stock market has "fully rebounded," when Wall Street has been playing with trillions of fiat money?
The typical American household has been and continues to be in recession, if not depression. The number of poor and individuals on food stamps, on long term unemployment compensation, and job seekers choosing to simply give up looking for work are at an all time high.
Talk about a journalistic lack of credibility......................
It is worse than the article portrays. Unemployment and part-time employment and underemployment are all both excessive and long-term. Prices of necessities like food and utilities have skyrocketed while food quality has become abysmal. Lower worker participation. More real hunger with many poor people not being able to get food stamps while some who don't need them get them.
This recovery is just awesome. Jimmy Carter days all over again.
The people were duped and are suffering under an economy which has grown much worse. I would be remiss not to mention that the Top 10%, Wall Street manipulators, Corporate American profiteers, and ALL the Banking Czars are doing better then they could have ever imagined.
There is [only 'one' reason] why there is no recovery and my fellow Americans are hurting worse than ever... corrupt oppressive government.
Is "Aimee" delusional?
"The stock market ... has fully rebounded ..." It has cost $18 TRILLION printing of counterfeit money under the form of QE 1,2,3, ad nauseum to produce a ONE trillion dollars of "improvement." 18 for 1 is NOT an improvement!
"The job market has stabilized..." IF the same number of jobs still existed that existed 2/2009 the unemployment rate would still be 11%+.
"... and the housing market is witnessing signs of an upswing." Houses that are selling are being sold for CASH from foreign investors - or" flippers" preparing to re-crash the market.
DELUSIONAL ... fool's gold .... a bridge in Brooklyn for sale!
Good system. Keep interest rates low so the stock market gets a boost and the middle class can't get a return on savings accounts or CD's.
So when the middle class finds some money to invest and the economy tanks again, the middle class has to sell at a loss to pay the mortgage and bills while unemployed (instead of pulling money from an interest-bearing savings account) and the wealthy who were profiting from the lower interest rates get to buy it all up cheap. (to sell again at a profit later after the middle class gets suckered into stocks yet again)
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[BRIEFING.COM] The stock market welcomed the new trading week with a mixed session that saw relative strength among large-cap stocks, while high-beta names underperformed. The Dow Jones Industrial Average (+0.3%) and S&P 500 (-0.1%) finished near their flat lines, while the Nasdaq Composite and Russell 2000 both lost 1.1%.
Equities began the day on a cautious note amid continued concerns regarding the strength of the global economy. Over the weekend, China reported its first decline ... More
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