Well, that’s a misleading little chart, isn’t it! But since the intended goal is “confirmation bias for the mal-educated,” then I suppose it’s a fabulous chart.
Lov the chart! Simple to the point.
Remember it was our young inexperienced president who told us just last week, that we were lucky he was incharge because unemployment could be 15 even 16%. Hmm I don’t feel lucky.
ILoveCapitalismsays
That’s a beautiful little chart. As soon as the Democrats regained Congress from the 2006 election, they started growing government. (I mean, even more than Bush had already.) And a big government is a drag on the economy, and therefore a drag on employement. The chart shows it perfectly.
From an Austrian School perspective, it was the very Keynesianism / activism of Hoover’s response that helped worsen the recession, into a Depression. Roosevelt then made it worse, dragging it out for 8 more years of agony – and Obama threatens to do the same to us: http://www.washingtonpost.com/wp-dyn/content/article/2010/07/08/AR2010070804272.html
Elephant in the Roomsays
So, we conservative types have our own hockey stick chart now. Except ours is based on real numbers (unlike the Sex Poodle’s). Hide the incline!
ILoveCapitalismsays
heh 🙂
Delusional Billsays
Lets also juxtapose that graph with those that believe The ONE is a socialist.
Meanwhile, Canada with their higher taxes, strictly regulated banking system, and single-payer healthcare system is kicking your asses in terms of job creation. (Via FrumForum)
Awesome! Very similarly damning graphs could be made to point out
1. when the recession started (hint: a year after Democrats took over congress promising to drastically raise taxes and regulation)
2. that budget deficits were decreasing under the Republican congress and only started to skyrocket after Democrats wrote their first budget. (which they withheld from Bush so he could not veto it, and held over til 2009 so Obama could approve it instead)
3. to show when the financial crisis hit (hint: two years after Democrats took control of congress)
In fact, I’ve been wanting to make an “are you better off” video that really drives all these damning points home, that the economy was GROWING until Democrats took over promising massive tax and regulatory hikes, but I know nothing about how to make videos. So hoping against hope that Republicans are smart enough to make one.
Serenity, as always, your ignorance leads you to make idiotic conclusions.
The major difference between Canada and the United States is simple: the government did not a) encourage people to take out mortgages they could not afford, b) order the banks to give people mortgages they could not afford to meet racial quotas, and c) securitize said bad mortgages through governmental corporations.
And, last but certainly not least, in Canada, there are penalties for not paying your mortgage. This is antithetical to welfare Obama Party members like yourself who never pay bills, Serenity, but what you and yours don’t get is that allowing people to foreclose without penalty to them drives down housing prices.
If only you’d bothered to link to any source other than HuffPo, who as of late seems to pride itself on having writers who enjoy a giggle over racial epithets, then perhaps you’re snarky little comment may have had some credibility.
As it stands, I’m not in the habit of getting my marching orders from either HuffPo, Canada, or whatever other truculent imbeciles the progressives choose to worship this week.
Well, that’s a misleading little chart, isn’t it! But since the intended goal is “confirmation bias for the mal-educated,” then I suppose it’s a fabulous chart.
Well isn’t this nice???? Evan’s decided he wants to play. And the fact that he’s learned how to use quotation marks to amplify his contempt is ever so encouraging, isn’t it?
Dan asks:
Evan, why & how is it misleading?
Don’t hold your breath, Dan. I’ve a feeling Evan’s apparent case of diaper rash will prevent him from forming a cogent argument.
And what’s really funny about rape supporter Evan Hurst is the fact that he and his fellow rape supporters who are trying to hurt Sharron Angle are doing so to help Harry Reid — who also supports rape, by their logic.
SoCalRobertsays
Serenity – a strictly regulated banking system?
The housing meltdown was not the sole cause of the implosion but it was the result of government meddling.
The do-gooders in gubmint demanded that banks lend to people who cannot service their debt. It then made an implicit guarantee that investors would be made whole when the loans went sour. The artificial demand for mortgages drove prices way above reality… failure was a certainty. Result: meltdown.
Do you really think banks would have loaned money to high-risk borrowers to purchase over-priced housing without government meddling?
The Democrats are neck-deep in money from Wall Street. It was money well-spent since the investment bankers made out like bandits and the shrinking pool of taxpayers, as usual, got stuck with the check.
Canada avoided this debacle (and Canada is also an oil-exporting country).
One more thing, Serenity: the article you cited said that the job growth was in “service jobs”. Does that mean government work? Just asking.
John in Dublin CAsays
OT, for any of you who may have read “Fresh Bilge”, a blog by Alan Sullivan, poet, novelist, sailor, gay conservative, and devout Catholic, he died today at age 61 from leukemia. His blog is here: http://www.seablogger.com/. An extraordinary man, gentleman, scholar and wit.
Levisays
Of course, of course. Because you see, the Democrats had all the power and are solely responsible for the economic downturn. Never mind that the housing bubble inflated rapidly during the Bush years when Republicans had complete control over all branches of the government – that’s just a coincidence. Everyone knows that during the Bush years – Democrats were calling all of the shots on all of the issues, so everything bad that happens now and in the future is the fault of the Democrats.
It’s so easy to be a Republican!
ThatGayConservativesays
Everyone knows that during the Bush years – Democrats were calling all of the shots on all of the issues, so everything bad that happens now and in the future is the fault of the Democrats.
You had liberals like Bawney Fwank and Chris “Countrywide” Dodd standing in the way of any attempt to stop it. Of course the liberals would paint anybody who really did as a racist in favor of “red lining”.
ThatGayConservativesays
Although Frank now blames Republicans for the failure of Fannie and Freddie, he spent years blocking GOP lawmakers from imposing tougher regulations on the mortgage giants. In 1991, … the Boston Globe reported that Frank pushed the agency to loosen regulations on mortgages for two- and three-family homes, even though they were defaulting at twice and five times the rate of single homes, respectively.
Three years later, President Clinton’s Department of Housing and Urban Development tried to impose a new regulation on Fannie, but was thwarted by Frank.
“I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation,” McCain said. “If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.”
From the New York Slimes 9/11/03:
The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.
Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.
The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. …
The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac — which together have issued more than $1.5 trillion in outstanding debt — is broken.
… The Office of Federal Housing Enterprise Oversight, which is part of the Department of Housing and Urban Development, was created by Congress in 1992 after the bailout of the savings and loan industry and concerns about regulation of Fannie Mae and Freddie Mac, which buy mortgages from lenders and repackage them as securities or hold them in their own portfolios.
At the time, the companies and their allies beat back efforts for tougher oversight by the Treasury Department, the Federal Deposit Insurance Corporation or the Federal Reserve. Supporters of the companies said efforts to regulate the lenders tightly under those agencies might diminish their ability to finance loans for lower-income families. This year, however, the chances of passing legislation to tighten the oversight are better than in the past.
… ”These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ”The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”
Representative Melvin L. Watt, Democrat of North Carolina, agreed.
”I don’t see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,” Mr. Watt said.
ThatGayConservativesays
It’s so easy to be a Republican!
Which means being a liberal is even easier. It’s the most gutless decision one can make. You don’t have to stand for anything, disregard reason, logic, morality, consideration for others, accountability etc. What’s more, you can hate all the blacks, Jews, Hispanics etc. and convince them that everybody else is actually who hates them.
You can kick the shit out of black men and intimidate voters and it will be society’s fault. Hell, you can run around hanging nooses, spray paint racial slurs and swastikas on other’s (or your own) property, fire weapons at and otherwise vandalise your opponents (or your own) campaign headquaters and be GUARANTEED a compliant media and blogosphere will be on your side.
Not only that, you can rape women and have sex with little boys and get a TOTAL pass. All your liberal brethren will circle the wagons to protect you from the “vast right-wing conspiracy”.
@SoCalRobert: I’m amazed after a reasonably competent post, you decided to go for an additional ‘One more thing’ attack, trip over your own shoelaces, and end up exposing you entire agenda.
One more thing, Serenity: the article you cited said that the job growth was in “service jobs”. Does that mean government work? Just asking.
Actually, the term was “service sector”, and the answer is no. Why would anyone think otherwise? Government work would be something more along the lines of “public sector”, or maybe just “government work”. The Reuters article linked to just after the mention of the service sector clarifies:
Services industries did all the hiring in June, with retail and wholesale trade leading the way.
Layoffs in manufacturing exerted a drag on the goods-producing sector. Factories shed 14,000 workers in June and employment in that sector remains 11.9 percent below pre-recession levels.
Meaning the jobs growth is in retail and office work as opposed to manufacturing. The fact that you read “government work” into such a widely-understood and recognized term really just shows that you’re determined to blame government intervention no matter how far you need to stretch to do it.
AF_Vetsays
Serenity,
You make some very good points about the different prospects in
Canada vs the US, and their economic outlooks.
Hey, you think it’s worth mentioning that Canada is lead by a Conservative, and the US is lead by a bunch of Socialists?
Just sayin’ is all.
SoCalRobertsays
Serenity – as said, I was just asking.
Levi – you’re missing a point. This isn’t so much a Dem versus Rep debate as a debate on the proper place of government. The Bushies certainly did make some effort to slow down the train but they, too, were guilty of peddling home “ownership” for all.
The thing we see here is that libs meddle in the markets and when the inevitable crash occurs, they stand aside with a “who farted?” look and blame the mess on the private sector.
It takes real chutzpah for Frank and Dodd to ride in as saviors given their role in the failure.
As I understand it, the latest efforts at financial “reform” leave out Fannie and Freddie – the ground zero of the disaster (and home to many Democrat functionaries in cushy sinecures).
heliotropesays
Serenity,
Did you know that Canada was hit hard by the recession and instead of borrowing a trillion and throwing it in the wind, the government tightened its belt, cut spending and rode it out? Look what Canada achieved in spite of high taxation, socialized medicine (which is falling apart in Canada) and tight banking regulations.
In addition, Canada did not traipse into the Frank/Dodd mortgages for sure losers scheme that the Democrats instituted and protected in the United States. Nor, I suspect, are many Canadians buying shares in Fannie and Freddie which can be had for less than a piece of penny candy.
But, from you perspective, I suppose that Canada has come through this because of high taxes, socialized medicine (which is falling apart) and tight banking regulations.
If you look at the charts showing unemployment in Canada sharply turning around for the better, you will discover that it occurred at the same point in time when Obama unleashed the porkulous bill on the US. However, US unemployment continued to worsen at a steady pace.
Come back and tell us about Keynesian voodoo and how Canada by-passed it altogether. Fluke or not?
ThatGayConservativesays
Examples of service sector employment include:
* Government
* Healthcare/hospitals
* Public health
* Waste disposal
* Education
* Banking
* Insurance
* Financial services
* Legal services
* Consulting
* News media
* Hospitality industry (e.g. restaurants, hotels, casinos)
* Tourism
* Retail sales
* Franchising
* Real estate
Well, that’s a misleading little chart, isn’t it! But since the intended goal is “confirmation bias for the mal-educated,” then I suppose it’s a fabulous chart.
Evan, why & how is it misleading?
Lov the chart! Simple to the point.
Remember it was our young inexperienced president who told us just last week, that we were lucky he was incharge because unemployment could be 15 even 16%. Hmm I don’t feel lucky.
That’s a beautiful little chart. As soon as the Democrats regained Congress from the 2006 election, they started growing government. (I mean, even more than Bush had already.) And a big government is a drag on the economy, and therefore a drag on employement. The chart shows it perfectly.
LOL….GPW, let me answer that question. Evan Hurst thinks it’s wong and misleading because:
1) It’s not “unemployment”, it’s “FUNEMPLOYMENT”.
2) It shows unemployment going over 8% when Barack Obama said unemployment would never go over 8% if he got his “stimulus”.
3) It shows unemployment going up under an Obama Party majority when everyone knows that unemployment only goes down under Obama Party majorities
This is easy. Just completely divorce your mind from facts and reality in favor of worship of the Obama Party, and you too can think like Evan Hurst.
Just posted the following in Bruce’s “Depression 2.0” thread, but that one is getting old and it is equally relevant here.
Contrary to Keynesian mythology, Herbert Hoover took an activist, Keynesian response to the recession that started in 1929: http://rationalargumentator.com/issue251/hooverslash.html
From an Austrian School perspective, it was the very Keynesianism / activism of Hoover’s response that helped worsen the recession, into a Depression. Roosevelt then made it worse, dragging it out for 8 more years of agony – and Obama threatens to do the same to us: http://www.washingtonpost.com/wp-dyn/content/article/2010/07/08/AR2010070804272.html
So, we conservative types have our own hockey stick chart now. Except ours is based on real numbers (unlike the Sex Poodle’s). Hide the incline!
heh 🙂
Lets also juxtapose that graph with those that believe The ONE is a socialist.
Meanwhile, Canada with their higher taxes, strictly regulated banking system, and single-payer healthcare system is kicking your asses in terms of job creation. (Via FrumForum)
Does this not fit into your narrative?
Awesome! Very similarly damning graphs could be made to point out
1. when the recession started (hint: a year after Democrats took over congress promising to drastically raise taxes and regulation)
2. that budget deficits were decreasing under the Republican congress and only started to skyrocket after Democrats wrote their first budget. (which they withheld from Bush so he could not veto it, and held over til 2009 so Obama could approve it instead)
3. to show when the financial crisis hit (hint: two years after Democrats took control of congress)
In fact, I’ve been wanting to make an “are you better off” video that really drives all these damning points home, that the economy was GROWING until Democrats took over promising massive tax and regulatory hikes, but I know nothing about how to make videos. So hoping against hope that Republicans are smart enough to make one.
But it looks like I shouldn’t hold my breath.
Serenity, as always, your ignorance leads you to make idiotic conclusions.
The major difference between Canada and the United States is simple: the government did not a) encourage people to take out mortgages they could not afford, b) order the banks to give people mortgages they could not afford to meet racial quotas, and c) securitize said bad mortgages through governmental corporations.
And, last but certainly not least, in Canada, there are penalties for not paying your mortgage. This is antithetical to welfare Obama Party members like yourself who never pay bills, Serenity, but what you and yours don’t get is that allowing people to foreclose without penalty to them drives down housing prices.
Oh my dear Serenity…
If only you’d bothered to link to any source other than HuffPo, who as of late seems to pride itself on having writers who enjoy a giggle over racial epithets, then perhaps you’re snarky little comment may have had some credibility.
As it stands, I’m not in the habit of getting my marching orders from either HuffPo, Canada, or whatever other truculent imbeciles the progressives choose to worship this week.
Well isn’t this nice???? Evan’s decided he wants to play. And the fact that he’s learned how to use quotation marks to amplify his contempt is ever so encouraging, isn’t it?
Dan asks:
Don’t hold your breath, Dan. I’ve a feeling Evan’s apparent case of diaper rash will prevent him from forming a cogent argument.
Evan Hurst is hilarious. He’s over there today repeating the Obama Party talking point that Sharron Angle supports child rape.
Which is funny, given the following:
– He and his fellow gay liberals oppose age-of-consent laws and supported and endorsed NAMBLA for years
– He and his fellow gay liberals make excuses for drugging and forcing yourself on thirteen-year-old girls as not really being rape.
– He and his fellow gay liberals refuse to call the police or notify parents when thirteen-year-olds are raped.
Isn’t it amazing how gay liberals like Evan Hurst scream about child rape, then practice, promote, and protect it themselves? Pure projection.
And what’s really funny about rape supporter Evan Hurst is the fact that he and his fellow rape supporters who are trying to hurt Sharron Angle are doing so to help Harry Reid — who also supports rape, by their logic.
Serenity – a strictly regulated banking system?
The housing meltdown was not the sole cause of the implosion but it was the result of government meddling.
The do-gooders in gubmint demanded that banks lend to people who cannot service their debt. It then made an implicit guarantee that investors would be made whole when the loans went sour. The artificial demand for mortgages drove prices way above reality… failure was a certainty. Result: meltdown.
Do you really think banks would have loaned money to high-risk borrowers to purchase over-priced housing without government meddling?
The Democrats are neck-deep in money from Wall Street. It was money well-spent since the investment bankers made out like bandits and the shrinking pool of taxpayers, as usual, got stuck with the check.
Canada avoided this debacle (and Canada is also an oil-exporting country).
One more thing, Serenity: the article you cited said that the job growth was in “service jobs”. Does that mean government work? Just asking.
OT, for any of you who may have read “Fresh Bilge”, a blog by Alan Sullivan, poet, novelist, sailor, gay conservative, and devout Catholic, he died today at age 61 from leukemia. His blog is here: http://www.seablogger.com/. An extraordinary man, gentleman, scholar and wit.
Of course, of course. Because you see, the Democrats had all the power and are solely responsible for the economic downturn. Never mind that the housing bubble inflated rapidly during the Bush years when Republicans had complete control over all branches of the government – that’s just a coincidence. Everyone knows that during the Bush years – Democrats were calling all of the shots on all of the issues, so everything bad that happens now and in the future is the fault of the Democrats.
It’s so easy to be a Republican!
You had liberals like Bawney Fwank and Chris “Countrywide” Dodd standing in the way of any attempt to stop it. Of course the liberals would paint anybody who really did as a racist in favor of “red lining”.
Although Frank now blames Republicans for the failure of Fannie and Freddie, he spent years blocking GOP lawmakers from imposing tougher regulations on the mortgage giants. In 1991, … the Boston Globe reported that Frank pushed the agency to loosen regulations on mortgages for two- and three-family homes, even though they were defaulting at twice and five times the rate of single homes, respectively.
Three years later, President Clinton’s Department of Housing and Urban Development tried to impose a new regulation on Fannie, but was thwarted by Frank.
http://www.foxnews.com/printer_friendly_story/0,3566,432501,00.html
Emphasis mine
Democrats denying there’s a problem:
http://www.youtube.com/watch?v=_MGT_cSi7Rs
McCain stood up in May 2006:
From the New York Slimes 9/11/03:
Which means being a liberal is even easier. It’s the most gutless decision one can make. You don’t have to stand for anything, disregard reason, logic, morality, consideration for others, accountability etc. What’s more, you can hate all the blacks, Jews, Hispanics etc. and convince them that everybody else is actually who hates them.
You can kick the shit out of black men and intimidate voters and it will be society’s fault. Hell, you can run around hanging nooses, spray paint racial slurs and swastikas on other’s (or your own) property, fire weapons at and otherwise vandalise your opponents (or your own) campaign headquaters and be GUARANTEED a compliant media and blogosphere will be on your side.
Not only that, you can rape women and have sex with little boys and get a TOTAL pass. All your liberal brethren will circle the wagons to protect you from the “vast right-wing conspiracy”.
@SoCalRobert: I’m amazed after a reasonably competent post, you decided to go for an additional ‘One more thing’ attack, trip over your own shoelaces, and end up exposing you entire agenda.
Actually, the term was “service sector”, and the answer is no. Why would anyone think otherwise? Government work would be something more along the lines of “public sector”, or maybe just “government work”. The Reuters article linked to just after the mention of the service sector clarifies:
Meaning the jobs growth is in retail and office work as opposed to manufacturing. The fact that you read “government work” into such a widely-understood and recognized term really just shows that you’re determined to blame government intervention no matter how far you need to stretch to do it.
Serenity,
You make some very good points about the different prospects in
Canada vs the US, and their economic outlooks.
Hey, you think it’s worth mentioning that Canada is lead by a Conservative, and the US is lead by a bunch of Socialists?
Just sayin’ is all.
Serenity – as said, I was just asking.
Levi – you’re missing a point. This isn’t so much a Dem versus Rep debate as a debate on the proper place of government. The Bushies certainly did make some effort to slow down the train but they, too, were guilty of peddling home “ownership” for all.
The thing we see here is that libs meddle in the markets and when the inevitable crash occurs, they stand aside with a “who farted?” look and blame the mess on the private sector.
It takes real chutzpah for Frank and Dodd to ride in as saviors given their role in the failure.
As I understand it, the latest efforts at financial “reform” leave out Fannie and Freddie – the ground zero of the disaster (and home to many Democrat functionaries in cushy sinecures).
Serenity,
Did you know that Canada was hit hard by the recession and instead of borrowing a trillion and throwing it in the wind, the government tightened its belt, cut spending and rode it out? Look what Canada achieved in spite of high taxation, socialized medicine (which is falling apart in Canada) and tight banking regulations.
In addition, Canada did not traipse into the Frank/Dodd mortgages for sure losers scheme that the Democrats instituted and protected in the United States. Nor, I suspect, are many Canadians buying shares in Fannie and Freddie which can be had for less than a piece of penny candy.
But, from you perspective, I suppose that Canada has come through this because of high taxes, socialized medicine (which is falling apart) and tight banking regulations.
If you look at the charts showing unemployment in Canada sharply turning around for the better, you will discover that it occurred at the same point in time when Obama unleashed the porkulous bill on the US. However, US unemployment continued to worsen at a steady pace.
Come back and tell us about Keynesian voodoo and how Canada by-passed it altogether. Fluke or not?
Examples of service sector employment include:
* Government
* Healthcare/hospitals
* Public health
* Waste disposal
* Education
* Banking
* Insurance
* Financial services
* Legal services
* Consulting
* News media
* Hospitality industry (e.g. restaurants, hotels, casinos)
* Tourism
* Retail sales
* Franchising
* Real estate