Obama's Socialist Policies are Ruining American Economy

[finehoe]

The U.S. economy grew even faster in the third quarter than initially thought, posting the strongest six months of growth in more than a decade and pulling further ahead of other big economies of the world.

The gross domestic product, the country's total output of goods and services, expanded at a healthy 3.9 percent annual rate in the July-September period, the Commerce Department reported Tuesday. That's a notable jump from its first estimate of 3.5 percent. The revision was propelled higher by more robust consumer and business spending.

Together with a 4.6 percent surge in the spring, the country has recorded its biggest back-to-back quarterly performance since 2003.

http://hosted.ap.org/dynamic/stories/U/US_ECONOMY_GDP?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-11-25-15-18-50

[funguy]

The deficit is down over 30%
The stockmarket / corporate profits are at record highs
New home sales are rising
The unemployment rate is falling
Consumer confidence is at a six year high
Is President Obama destroying America OR HAVE REPUBLICANS BEEN LYING......

[WarDamJagFan]

What's the beef with oil companies? Ok, so they have a high nominal figure for profits. But what actually defines how profitable a company is? Total profits, or profit margins? Just to give you an idea, in 2013 Exxon Mobile's overall profit margin was only 8.3%. So for every dollar in revenue, after all expenses they only kept 8 cents. On the flip side, Apple - one of those big corporations that liberals absolutely love (disclaimer - I don't hate Apple. They run a damn good business) - posted profit margins of 25% that same year. TRIPLE that of Exxon.

Why no outrage against Apple and their "obscene profits"?

[Ocklawaha]

What's the beef with oil companies? Ok, so they have a high nominal figure for profits. But what actually defines how profitable a company is? Total profits, or profit margins? Just to give you an idea, in 2013 Exxon Mobile's overall profit margin was only 8.3%. So for every dollar in revenue, after all expenses they only kept 8 cents. On the flip side, Apple - one of those big corporations that liberals absolutely love (disclaimer - I don't hate Apple. They run a damn good business) - posted profit margins of 25% that same year. TRIPLE that of Exxon.

Why no outrage against Apple and their "obscene profits"?

Perhaps because no one has bombed a building or gone to war for an iPhone?

No one's grandparents got killed by a drone, no one's son has been beheaded for a Macbook?

I dunno.  Are you always this unironic?

Now that we know there were WMD's, apparently Bush didn't bomb anyone for oil either, but it makes for a typically slippery argument for those without substantive intelligence.

The drone killings have only ramped up by Obama... Probably from his I-Phone.

The beheadings are taking place because 'DEAR LEADER' sacked the military, turned tail and ran away from a hot war zone to appease his liberal nut-base. Without something in place that his 'terrorist friends' (you know, like our old friends in Iran and Syria) understand, IE: bombs, the threat has only grown. 'DEAR LEADERS' military genius is going to be historic, but then; "What difference does it make?"

[WarDamJagFan]

What's the beef with oil companies? Ok, so they have a high nominal figure for profits. But what actually defines how profitable a company is? Total profits, or profit margins? Just to give you an idea, in 2013 Exxon Mobile's overall profit margin was only 8.3%. So for every dollar in revenue, after all expenses they only kept 8 cents. On the flip side, Apple - one of those big corporations that liberals absolutely love (disclaimer - I don't hate Apple. They run a damn good business) - posted profit margins of 25% that same year. TRIPLE that of Exxon.

Why no outrage against Apple and their "obscene profits"?

Perhaps because no one has bombed a building or gone to war for an iPhone?

No one's grandparents got killed by a drone, no one's son has been beheaded for a Macbook?

I dunno.  Are you always this unironic?

Oh yeah! I forgot! Commodities are evil and so any company associated with a commodity has got blood on their hands. Those evil people at Exxon, don't they know any better? Perhaps they should just be more like their cousin company's like Zephyrhills and Tyson. Because nobody's ever been killed over resources like food and water.

[Ocklawaha]

Stephen, just have someone snap a picture of you when I finally drive you to plunge your head into the Veg-o-Matic!

[WarDamJagFan]

Stephen, just have someone snap a picture of you when I finally drive you to plunge your head into the Veg-o-Matic!

Do you think he'd be screaming "This is all Bush's fault!!!!" when he finally takes the said plunge?

[WarDamJagFan]

I'm old enough to know that we're not fighting in the Middle East for oil. If we were, Iran and Saudi Arabia would have been attacked. And in Iraq, they still control their own oil fields and refineries, at least the ones Isis hasn't taken over yet. So how many oil fields and refineries has the US staked claim to since going to the Middle East in 2001?

[WarDamJagFan]

I'll take the question with a grain of salt, as I've disclosed it multiple times on other threads. But yes, upper 20s.

[WarDamJagFan]

To each their own. Some start liberal young then switch conservative as they get older - as many of my parents friends have shared with me, and others have done the same you did.

Yes, I'm a conservative. And yes, I currently can't stand the Republican party - they are the epitome of say one thing and do another. Which is why if someone asks me are you a R or D, I say neither.

[WarDamJagFan]

And actually, oddly enough, I've tried to get involved with the Young Republicans of Jacksonville. They seem about as disorganized as the Republicans in Congress.

[finehoe]

Interesting that none of our right-winger buddies want to address the premise of this post.

If Obama is a "Socialist" and is hell-bent on destroying capitalism as we know it, how is it that housing permits and corporate profits have both made new highs, real residential investment and real retail sales per capita are within a hairsbreadth of new highs, and we're having the best year for jobs added in over a decade.

I know one poster has admitted in previous posts that evidence means nothing to him, but surely some of you other guys can address this discrepancy between what the right has so confidently predicted and what has actually transpired.

[WarDamJagFan]

hmm.  I don't think you know me well enough to make assumptions about 'the same thing i did', to be honest.

Only using general terms there as in, started conservative before leaning liberal.

[WarDamJagFan]

Interesting that none of our right-winger buddies want to address the premise of this post.

If Obama is a "Socialist" and is hell-bent on destroying capitalism as we know it, how is it that housing permits and corporate profits have both made new highs, real residential investment and real retail sales per capita are within a hairsbreadth of new highs, and we're having the best year for jobs added in over a decade.

I know one poster has admitted in previous posts that evidence means nothing to him, but surely some of you other guys can address this discrepancy between what the right has so confidently predicted and what has actually transpired.

Are housing permits going up because of true organic, economic demand going up, or because of new incentive programs being introduced at the federal level to artificially create demand? That's not new to Obama though, because home ownership has been pushed heavily through policies since the 70s. The irony though, the same banks which were chastised for doing what the government told them to do - make loans to people with bad credit - are being told to do it YET AGAIN. http://www.washingtonpost.com/business/economy/obama-administration-pushes-banks-to-make-home-loans-to-people-with-weaker-credit/2013/04/02/a8b4370c-9aef-11e2-a941-a19bce7af755_story.html

Yes, corporate profits are definitely high right now. But what's the most expensive liability for companies? Generally, it's wages. Wage growth is as low now as it was since back in the 60s - which is another reason why you hear so much about the "wealth gap". So if costs are being cut, you give your chance to earn a higher profit. Also, continuing to import millions of low skilled immigrants won't help that fact.

My industry - Finance - is doing ok, but we're seeing lots of potentially ugly scenarios approaching. Dodd-Frank and other similar boa-constrictors are absolutely crushing the small to mid size banking industry. The cost of compliance is too much to bear, and larger banks like Wells Fargo and BOA are acquiring them in bunches. This is crowding out the banks who used to lend to small businesses. Businesses that are privately owned are generally now having to look to Private Equity funds in order to obtain financing as larger banks will not lend to them. Similar situation with Health Care as the smaller companies simply can't survive the costs of compliance with the ACA.

So, that's what I'm seeing out of all the fog.

[WarDamJagFan]

Yes, corporate profits are definitely high right now. But what's the most expensive liability for companies? Generally, it's wages. Wage growth is as low now as it was since back in the 60s - which is another reason why you hear so much about the "wealth gap". So if costs are being cut, you give your chance to earn a higher profit. Also, continuing to import millions of low skilled immigrants won't help that fact.

Sorry. Got those sentences turned around a bit. Should have read:   

Wage growth is as low now as it was since back in the 60s - which is another reason why you hear so much about the "wealth gap" Also, continuing to import millions of low skilled immigrants won't help that fact.