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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97Comments
Sep 20, 2013 7:42PM
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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.

Sep 20, 2013 7:39PM
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You forgot the impact of the non-existent interest on savings .  Retired folks were planning on that interest as income. Not only did Wall Street take care of the average person's  IRA but the fed is punishing the cash holders who did not do the market. but The rich get richer the poor get poorer.  Sad state of affairs with the income gap in this country.  The boards of the companies that pay the CEO's the ridiculous income all need to be replaced.  I think they are on each others board to keep the pilfering in the family so to speak.
Sep 20, 2013 8:24PM
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Obama is a dick why would anyone defend him or his failed positions?
Sep 21, 2013 11:49AM
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There is no growth, no hope in Obama's America.

Thanks for Fing the middle class you POS.

Sep 21, 2013 9:22AM
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The  worlds economy has changed since the bailout of 08 its never going back to the previous levels of employment or free market capitalism.

Sep 21, 2013 10:26AM
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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.,  

 

Sep 20, 2013 7:48PM
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This is hilarious!  How many "pundits" (aka MSNBC "plants) are there?  They are as "snake oil" as the bum in office..see a correlation there?  Are you blind!  Next "pundit", please.  Incredible!
Sep 21, 2013 7:43PM
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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...................... 

Sep 23, 2013 7:02AM
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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.

 

Sep 21, 2013 1:05PM
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This recovery is just awesome. Jimmy Carter days all over again.

Sep 21, 2013 5:09PM
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Before the crisis the Main Street economy was in a shambles, and the Top 10% economy was exploding. Main Street was scared and tricked into allowing the biggest heist of the people's wealth ever perpetrated against Citizens by a privately owned Banking Cartel (the Fed) enabled by corrupt government.

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.

Sep 21, 2013 2:55AM
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I have a house, and payments on a house and car, friend, renter, no payments, parties  all the time. needs money always, ask me, like welfare people, dragging everyone down with them, new phone new this, but don't own anything. needs to stop.can afford it don't buy it.
Sep 23, 2013 2:06PM
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Terrible report. No mention at all of the miserable interest rates you can get on savings. You almost have to pay the banks to keep your money. If you factor in inflation & the income taxes on the little you do get you wind up in the hole.
Sep 23, 2013 7:09AM
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Like a bandage on a wound that just won't heal.
Sep 23, 2013 1:55PM
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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! 

Sep 23, 2013 2:49PM
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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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Since NOTHING that occurred during Oduffus's reign has been his fault, when the next president IMMEDIATELY has success with the economy, ........ THAT will be all oblamo ...........RIGHT?
Sep 23, 2013 2:12PM
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