Friday, January 2, 2015

GOP Predictions as Wrong as their Trickle Down Economic plan.

Think Progress reminded all of us how wrong Republicans were about the economy and just about everything else. And we're supposed to trust them with the economy now?
4 Things That Were Supposed To Happen By 2015 Because Obama Was Reelected
1. Gas was supposed to cost $5.45 per gallon. Gingrich said he would reduce gas prices dramatically by reversing Obama’s energy policies. Gingrich flanked himself with campaign signs promising $2.50 gas if he was elected. Today, the nationwide average for a gallon of gas is $2.24.

2. Unemployment was supposed to be stuck at over 8%

3. The stock market was supposed to crash: Donald J. Trump tweeted: "The stock market and US dollar are both plunging today. Welcome to @BarackObama’s second term."

4. The entire U.S. economy was supposed to collapse: Rush Limbaugh predicted that “the country’s economy is going to collapse if Obama is re-elected.” Limbaugh was confident in his prediction: “There’s no if about this. And it’s gonna be ugly. It’s gonna be gut wrenching, but it will happen.”


4 comments:

Anonymous said...

Wow, I can't believe you're still this ignorant.

I don't recall anyone saying it was going to happen before 2015 but I'm sure some did.

Regardless, let's take this one point at a time shall we?

1. Don't get too excited about gas at $2.50 a gallon for long. Since the shale industry in America is the only real productive part of this "recovery" as you call it, a lower oil price isn't going to help them much. If oil doesn't recover in the next month or 2, expect the shale rigs to start shutting down laying off more people.

2. Why do you keep thinking the unemployment rate is what the government tells you it is? Even the BLS U6 number is 11.4%

http://www.bls.gov/news.release/empsit.t15.htm

But we know that isn't even close to the real number since no one is included in the participation rate. John Williams from shadowstats estimates it to be 23%.

3. If you think the dollar is strong and getting stronger, keep in mind the dollar index does not measure the true value of the dollar but only relative strength. Half of it is the Euro! Is the Euro getting stronger? Is the debt going down? China, Japan and Russia are selling treasuries and the Federal Reserves balance sheet is still ticking up. The market will crash eventually. Stocks in general are overvalued and the Fed has blown this bubble back up. They lowered interest rates last time. What do you think they are going to do this time when it pops?

4. The U.S. economy has already collapsed. The U.S. government has already defaulted on its debt. It's just that nobody told us. How else do you explain China controlling the port at Long Beach, the port in oregon, owning the downtown manhattan jp morgan building, etc.?

WAKE UP! Think for yourself!

Anonymous said...

Giving credence to a Gingrich or Trump is as bad as any normal person believing what comes out of AlGores' pie hole -

Al Gore predicted the North Polar Ice Cap would be completely ice free in five years. Gore made the prediction to a German audience in 2008. He told them that “the entire North ‘polarized’ cap will disappear in 5 years.”

Anonymous said...

Ten warning signs of a market crash in 2015
Stock markets opened lower on the first day of trading of 2015, and the credit markets that forewarned the 2007 crash are showing signs of strain
http://www.telegraph.co.uk/finance/economics/11322623/Ten-warning-signs-of-a-market-crash-in-2015.html

Jake formerly of the LP said...

Funny how someone who is clearly incapable of dealing with facts and reality is often the first to tell people to WAKE UP.

You've been wrong. For decades. Own it, and learn from it.