Obama is First President Ever to Not See Single Year of 3% GDP Growth

[9erempiree]

The rate of real economic growth is the single greatest determinate of both America’s strength as a nation and the well-being of the American people. On Thursday the Commerce Department announced that the US economy expanded at the slowest pace in two years. GDP growth rose at an anemic 0.5% rate after a paltry 1.4% fourth quarter advance. Ronald Reagan brought forth an annual real GDP growth of 3.5%. Barack Obama will be lucky to average a 1.55% GDP growth rate. This ranks Obama as the fourth worst presidency on record. Barack Obama will be the only U.S. president in history who did not deliver a single year of 3.0%+ economic growth.

http://www.thegatewaypundit.com/2016/04/simply-worst-obama-first-president-ever-not-see-single-year-3-gdp/

[I know you are]

Talk about cherry picking.

[9erempiree]

Talk about cherry picking.
:facepalm

Which stat did I cherry pick?

Those stats are very important.

-Slowest pace in history. 2 years. Which is half the term of a presidency.

-Percent of economic growth for a President.

There is no cherry picking. It's like saying points per game is cherry picking.:hammerhead:

[East River Livn']

Two words

Double Ya

[Velocirap31]

I'd blame your financial system, banks, real estate, and auto industry first.

[9erempiree]

I'd blame your financial system, banks, real estate, and auto industry first.

We're working on it.

Something that Trump has addressed that nobody wants to bring up.

[Nick Young]

Weak

Hold this L, Flopbama STANS
http://stream1.gifsoup.com/view/1065485/eminem-stan-o.gif (http://gifsoup.com/view/1065485/eminem-stan.html)

[FillJackson]

Ronald Reagan brought forth

:roll: :lol
:lol :roll:
:roll: :lol

[UK2K]

Only took him 8 years.

I assumed he was one of the worst economic presidents before now.

For someone who had absolutely nothing to run on but 'hope and change', the only thing we've done is double our debt. And now the world laughs at us.

That's this presidency in a nutshell.

[I know you are]

:facepalm

Which stat did I cherry pick?

Those stats are very important.

-Slowest pace in history. 2 years. Which is half the term of a presidency.

-Percent of economic growth for a President.

There is no cherry picking. It's like saying points per game is cherry picking.:hammerhead:
No, it is like saying Carmelo Anthony is a better basketball player than Duncan because Duncan never led the league in scoring and has a lower career scoring average. There is more to the game of basketball and there is more to being a good president.

[FillJackson]

ProTip. Never quote "the dumbest man on the internet."

Also what was GDP under Hoover? He was a president wasn't he?

Since we just lived through the worst financial crisis since the Great Depression, perhaps you can tell me what was the GDP numbers under Hoover.

[Steven Kerry]

ProTip. Never quote "the dumbest man on the internet."

Also what was GDP under Hoover? He was a president wasn't he?

Since we just lived through the worst financial crisis since the Great Depression, perhaps you can tell me what was the GDP numbers under Hoover.
According to: http://useconomy.about.com/od/GDP-by-Year/a/US-GDP-History.htm

1929: NA (stock market crashed this year)
1930: -8.5
1931: -6.4
1932: -12.9

[KyrieTheFuture]

My favorite are the people that wasted 200k on an art degree from Syracuse. You gotta sell a lot of shit to pay that off. I took some classes and couldn't quite figure out why people paid for it. Not a whole lot of Rembrandts in there lemme tell you.

[Knicks102]

My favorite are the people that wasted 200k on an art degree from Syracuse. You gotta sell a lot of shit to pay that off. I took some classes and couldn't quite figure out why people paid for it. Not a whole lot of Rembrandts in there lemme tell you.
Says the unemployed shit poster

[FillJackson]

According to: http://useconomy.about.com/od/GDP-by-Year/a/US-GDP-History.htm

1929: NA (stock market crashed this year)
1930: -8.5
1931: -6.4
1932: -12.9
Yeah, seems like this might be worse.

Also even though we don't have data, there were several multiyear recessions (https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States)before the great Depression including several that lasted more than 4 years.

[Jameerthefear]

http://3.bp.blogspot.com/-pq2-roB58yE/UgVTWnCbSLI/AAAAAAAAGm8/U6j9t7PtQUY/s1600/Screen+Shot+2013-08-09+at+11.20.16+AM.png
>mfw cuckservatives are hating yet obama's approval rating keeps getting higher
we'll be back in the white house again come November too, y'all hold this L :dancin

[9erempiree]

http://3.bp.blogspot.com/-pq2-roB58yE/UgVTWnCbSLI/AAAAAAAAGm8/U6j9t7PtQUY/s1600/Screen+Shot+2013-08-09+at+11.20.16+AM.png
>mfw cuckservatives are hating yet obama's approval rating keeps getting higher
we'll be back in the white house again come November too, y'all hold this L :dancin

You are rooting for the very same people that produces a group that you despise.

Where do you think all these pro-feminists social justice warriors came from?

[Jameerthefear]

You are rooting for the very same people that produces a group that you despise.

Where do you think all these pro-feminists social justice warriors came from?
Far left. Just like the racists and scumbags of the far right. I'm pretty centrist, but a little left leaning.

[Hawker]

Also holds the record for the highest number of citizens to renounce their citizenship. More people don't want to be american under his presidency.

[Dresta]

Also holds the record for the highest number of citizens to renounce their citizenship. More people don't want to be american under his presidency.
Yup, even though they have to pay thousands to do so (the highest fee in the world, which had to be hiked nearly 500% to limit the clamour of people trying to escape), it's worth it to escape the world tyranny Obama has helped create.

[masonanddixon]

What about all the thousands of $10/hr part time jobs that he created during his Presidency?????

[FillJackson]

What about all the thousands of $10/hr part time jobs that he created during his Presidency?????
Involuntary part time work started to spike in late 2007. It hit a very high plateau in 2009 and stayed there until 2011.

http://data.bls.gov/timeseries/LNS12032194

It's now come down by over 3 million reflecting the slow, but real improvements in the economy.

Like long term unemployed, it's still higher than it was before the recession began in late 2007.


A recent study has come up with why there is still a lot of slack in the workplace with unemployment at 5%. Growth in 1099 jobs. Folks are working, but a much greater number are working as contractors. Firms are taking much longer to hire full employees. I was a contractor for several years after the crisis. As older better paid employees retire, they are often being replaced with 1099 employees and this is affecting young people the most as they are not yet established in their careers.

[NumberSix]

What about all the thousands of $10/hr part time jobs that he created during his Presidency?????
The president creates jobs?

[FillJackson]

https://lh6.googleusercontent.com/ybLSPcczK20Pw7YW3OwrbdTdTdB4xSaBNz2gLjBPB9MmtKlzbg muMXf2w_axENzq0RgQy19IgNVEgbQoTPyKGa7ADuBYr24QqCjB LEoYxrEetr3q26L0TFmGk-gHYubYzGZ-SKyv

W2 jobs are still off where they were the recession started, while contractor jobs are much higher.

[Dresta]

Involuntary part time work started to spike in late 2007. It hit a very high plateau in 2009 and stayed there until 2011.

http://data.bls.gov/timeseries/LNS12032194

It's now come down by over 3 million reflecting the slow, but real improvements in the economy.

Like long term unemployed, it's still higher than it was before the recession began in late 2007.


A recent study has come up with why there is still a lot of slack in the workplace with unemployment at 5%. Growth in 1099 jobs. Folks are working, but a much greater number are working as contractors. Firms are taking much longer to hire full employees. I was a contractor for several years after the crisis. As older better paid employees retire, they are often being replaced with 1099 employees and this is affecting young people the most as they are not yet established in their careers.
"very slow" improvements after 8 years of 0% interest rates is the basically the definition of illusory rather than "real" improvements.

Dumbass.

[FillJackson]

"very slow" improvements after 8 years of 0% interest rates is the basically the definition of illusory rather than "real" improvements.

Dumbass.
You're charming.

[Tarik One]

Yeah. A lot of that has to do with wasting trillions overseas in pointless wars.


Still, I'm glad it was him elected in 2008. Hillary or McCain would have been even worse in that regard.

[FillJackson]

If that's the case, why is there worldwide low growth?

https://www.conference-board.org/data/globaloutlook/

Global growth is in slow mode, but a recession seems unlikely

Bad, worse, or as good as it gets

Uncertainty and pessimism have dominated the economic and business news in recent months. While at face value the mood seems justified as many negative factors (China’s financial gyrations, volatility in oil prices, and the further weakening of the US economy) are colluding, the recent developments by themselves do not yet signal an imminent global economic recession. Yet, the recent challenges to the global economy, have led to some significant adjustments in this first quarterly update The Conference Board’s Global Economic Outlook for 2016. Global GDP growth is now projected at 2.5 percent, which is 0.3 percentage point lower than our November outlook. The largest downward adjustments are seen in emerging markets, of which Brazil and Russia are the most pronounced, as their economic outlook has deteriorated more rapidly than we expected

[Velocirap31]

Also holds the record for the highest number of citizens to renounce their citizenship. More people don't want to be american under his presidency.

It would make a lot of sense for tax reasons to do this. The IRS expect to be paid no matter where in the world you make your money. Renouncing your citizenship would allow you to avoid paying additional US taxes while working and living abroad.

[NumberSix]

If that's the case, why is there worldwide low growth?
Obama.

[Velocirap31]

If that's the case, why is there worldwide low growth?

China, oil, EU.

[BoutPractice]

The rate of real economic growth is the single greatest determinate of both America’s strength as a nation and the well-being of the American people.

Stated as though this were an irrefutable fact...

For the record, the measure only came to acquire its dominance after World War 2.

It is flawed in many ways (as the very economist who developed the measure would tell you) and it is high time we stopped fetishizing it.

I sometimes half wonder how good the global economy would be if we didn't worship GDP and stock prices as much as we do right now.

The impact is probably significant, just as in the case "teaching to the test", or running police departments based solely on misleading stats. Incentives are distorted and common sense is thrown out the window.

You don't need GDP to tell you that people need food and shelter, debt typically has to be repaid, fundamentals matter more than bubbles, taxation needs to be perceived as fair, productive activities are worth more than rent seeking activities, and excessive inequality fuels social unrest.

[gigantes]

Ronald Reagan brought forth

:roll: :lol
:lol :roll:
:roll: :lol
woo, look at that...

someone found a way to make old dog ISH learn a new trick!