Tag Archives: U.S. economy

VP Joe Biden: Comedian.

Not only does Vice President Joe Biden believe that he’s President of the United States while constantly making idiotic gaffes (such as not knowing what century we’re living in, forgetting what state he’s in, and referring to Obama as “Clinton”)— now he says he believes that Americans are “tired of being tired” and are “no longer worried” about the U.S. economy or foreign policy.

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Obama sets another record: The worst economic “recovery” in U.S. history.

Obama just keeps making history! “The U.S. economy posted a stunning drop of 0.1 percent in the fourth quarter, defying expectations for slow growth and possibly providing incentive for more Federal Reserve stimulus.” It turns out that “U.S. GDP “growth” since the “recovery” is now the worst in U.S. history, having just dipped below the heretofore lowest on record.”

However, Democrats believe that the American people are stupid (why wouldn’t they, when 46% of Americans still support Obama despite his failed presidency?)– so they are touting the claim that this is “the best-looking contraction in U.S. GDP you’ll ever see.”

Obama gives up.

Starting his second term with the exact same unemployment rate (7.8%) as the day he started his first term, Obama has given up. “President Barack Obama will let his jobs council expire this week without renewing its charter.”

Hilariously, the Obama Administration hopes that the American people believe it’s ‘mission accomplished’: “Officials said the president always intended for the council to fulfill its mission and then wind down.”  If true, then Obama’s “mission” was to stagnate the U.S. economy.

Obama creates new rules to destroy the U.S. economy

It’s old news that Obama “was a pioneering contributor to the national subprime real estate bubble” that led to the subprime mortgage crisis in 2008.  

Newsflash: “New mortgage rules issued last week by the administration will have the effect of forcing lenders to approve prime loans to borrowers who would normally only qualify for subprime loans carrying higher interest rates and fees to cover the added risk of default… As a result, analysts warn lenders may end up having to “subsidize” riskier borrowers at the expense of other customers… Mortgages carrying a prime rate, or one within 1.5 percentage points of the national average, will have the strongest level of legal protection.  Analysts say this rule effectively limits lenders’ ability to price for risk… Starting in January 2014, when the new rules take effect, borrowers who default on nonqualifying home loans will have the power to “raise a foreclosure defense” against banks… In addition, lenders who underwrite such nonqualifying loans could open themselves up to federal charges if recipients are minorities… As part of recent consent decrees, Justice has ordered several bank defendants to approve prime-rate mortgages for African-Americans and Latinos who otherwise would not qualify for them.” In true Obama style, he has promoted discrimination and bad economic policy in one fell swoop.

Foreigners own the U.S.

Foreign holdings of U.S. Treasury securities soared to a record $5.5 trillion under Obama.