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Over The Last 10 Years The U.S. Economy Has Grown At EXACTLY The Same Rate As It Did During The 1930s

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Even though I write about our ongoing long-term economic collapse every day, I didn’t realize that things were this bad.  In this article, I am going to show you that the average rate of growth for the U.S. economy over the past 10 years is exactly equal to the average rate that the U.S. economy grew during the 1930s.  Perhaps this fact shouldn’t be that surprising, because we already knew that Barack Obama was the only president in the entire history of the United States not to have a single year when the economy grew by at least 3 percent.  Of course the mainstream media continues to push the perception that the U.S. economy is in “recovery mode”, but the truth is that this current era has far more in common with the Great Depression than it does with times of great economic prosperity.

Earlier today I came across an article about President Trump’s new budget from Fox News, and in this article the author makes a startling claim…

The hard fact is that the past decade’s $10 trillion in deficit spending has produced the worst economic growth as measured by Gross Domestic Product in our nation’s history.  You read that right, in the past decade our nation’s economy grew slower than even during the Great Depression. This stagnant, new normal, low-growth economy is leaving millions of working age people behind who have given up even trying to participate, and has led to a malaise where many doubt that the American dream is attainable.

When I first read that, I thought that this claim could not possibly be true.  But I was curious, and so I looked up the numbers for myself.

What I found was absolutely astounding.

The following are U.S. GDP growth rates for every year during the 1930s

1930: -8.5%
1931: -6.4%
1932: -12.9%
1933: -1.3%
1934: 10.8%
1935: 8.9%
1936: 12.9%
1937: 5.1%
1938: -3.3%
1939: 8.0%

When you average all of those years together, you get an average rate of economic growth of 1.33 percent.

That is really bad, but it is the kind of number that one would expect from “the Great Depression”.

So then I looked up the numbers for the last ten years

2007: 1.8%
2008: -0.3%
2009: -2.8%
2010: 2.5%
2011: 1.6%
2012: 2.2%
2013: 1.7%
2014: 2.4%
2015: 2.6%
2016: 1.6%

When you average these years together, you get an average rate of economic growth of 1.33 percent.

I thought that was a really strange coincidence, and so I pulled up my calculator and ran all of the numbers again and I got the exact same results.

The 1930s certainly had more big ups and downs, but the average rate of economic growth during that decade was exactly the same as we have seen over the past 10 years.

And of course the early 1940s turned out to be a boom time for the U.S. economy, while it appears that our rate of economic growth is actually slowing down.  As I noted yesterday, U.S. GDP growth during the first quarter of 2017 was just 0.7 percent.

But you don’t hear any talk like this on the mainstream news, do you?

Instead, they tell us that everything is just peachy.

I often wonder what things would be like right now if Barack Obama and his minions in Congress had not added more than 9 trillion dollars to the national debt.  By stealing all of that money from future generations of Americans and spending it now, Obama was able to artificially prop up the U.S. economy.  If we were able to go back and remove 9 trillion dollars of government spending from the economy over the past 8 years, we would be in a rip-roaring economic depression right now.  For an extended analysis of this, please see my previous article entitled “The Shocking Truth About How Barack Obama Was Able To Prop Up The U.S. Economy”

But even though we have been adding more than a trillion dollars to the national debt each year, and even though the Federal Reserve pushed interest rates all the way to the floor during the Obama era, the U.S. economy has not grown by three percent or more on an annual basis since 2005.

When you take an honest look at the numbers, there is no way that anyone can possibly claim that the U.S. economy is doing well.  The best that you can say is that we have been staving off a complete economic meltdown and another Great Depression, but of course the measures that our leaders have been taking to do this have just been making our long-term problems even worse.

I feel bad for President Trump, because he has inherited the biggest economic mess in U.S. history.  When we finally reach the point when it is impossible to artificially prop up the U.S. economy any longer, he is going to get most of the blame, but he won’t deserve it.

It is not going to be possible for Trump or anyone else to fix our system, because it was fundamentally flawed from the very beginning.  The Federal Reserve was designed to create an endless spiral of government debt, and since the day it was created the U.S. national debt has gotten more than 5000 times larger and the value of the U.S. dollar has declined by about 98 percent.

If we truly want to fix the economy, the Federal Reserve must be abolished.  If I was President Trump, I would look to start issuing debt-free U.S. currency just like President Kennedy did in 1963 as soon as possible.

In addition, we need to push tax rates as low as possible.  Personally, I would like to see the day when the personal income tax is completely eliminated and the IRS is shut down.  The greatest period of economic growth in all of U.S. history was when there was no income tax and no Federal Reserve.  America once thrived in such an environment, and I believe that we can do it again.

Of course we need to also dramatically reduce the size and scope of the federal government.  Our founders intended to create a very limited federal government, but instead the left has just kept pushing to make it larger and larger.

Businesses all over America are being strangled to death by mountains of federal regulations, and if we could just get the government off of their backs the business community could start thriving again.  There are quite a few government agencies that could be shut down entirely, and I think that the EPA would be a good place to start.

Once upon a time the United States showed the world the power of free markets and capitalism, and if we want to make America great again, we should go back and do the things that made America great in the first place.

But would the American people be willing to go down that path?

 
  • aldownunder

    What a sad place the world is becoming my sympathies to all the families affected by today’s tragedy in England
    Time to put a stop to all this crap,supposedly in the name of a religion

  • aldownunder

    Interesting facts but unfortunately the futures of many generations have already been stolen and anything other than a complete re-set will not fix the future gradual enslavement they will encounter

    • William Lutz

      Yes, you’re correct. Imagine yourself being perpetually robbed of your earnings for a century’s lifetime. If we had twice the lifespan, would you want to drastically improve your livelihood after more than 100 years of getting screwed? No, because it would be too late. Duh!

      • socalbeachdude

        Nobody was ever “robbed of earnings” in the US at all, and many people now are GROSSLY OVERPAID relative to the work they perform which is precisely way so many are in danger of having their jobs totally eliminated.

        HALF of American retail workers could be replaced by robots, chilling new study finds

        Nearly half of Americans working in retail are at risk of losing their job to a robot, a new stud found. Up to 7.5M of these jobs are set to be automated – and most of them are held by women.

        http://www.dailymail.co.uk/sciencetech/article-4532118/Study-warns-7-5M-retail-jobs-automated.html

        • Stuey

          What % of american workers are grossly overpaid and what jobs do they do?

      • Everyone is to blame but me

        Please go put on your Speedo swim briefs, crawl up in your lifeguard chair, put on your Costa Del Mar sunglasses and do your job instead of being on here complaining about being “robed of your earnings”.

        • South Texas

          Wow! Sounds like a typical American slave. You are soooo right! I should work 4 to 6 months of the year for government at the local, state, and federal level and not complain.

  • Bill

    Those who survive will be those who learn to live simple.

    • SnodtBlossom

      Those who survive will be those who learn to live

      • GSOB

        That’s one UGLY avatar.

        • HE WILL NOT DIVIDE US

          shes right tho

        • SnodtBlossom

          I want my black back but there’s another.

    • GSOB

      Proverbs 21:16

      • SnodtBlossom

        there is no god

    • Leif Erickson

      Sounds like you are a simpleton.

  • problemsolved

    kill the fcukin sionist jews

    • Cinderella Man

      So I say JFK was murdered by a govt agency and it goes into moderation and this guy says this???!! SMH

      • whiner

        its not what you say, its how you fcukin say it btich

        • Cinderella Man

          Btich? Say that to my face you keyboard warrior p..ssy

      • socalbeachdude

        That is a totally false assertion.

    • William Lutz

      Hey look, it’s an anti Semite. The reincarnation of Hitler has infiltrated our comment forum. Beware!

      • politicallyincorrect

        no i just hate the sionist gews, not the good ones

  • Cinderella Man

    Mediocrity is the new normal. Its reflected in the markets it’s reflected in the people. Everyone knows that EBT is the new breadline. Instead of jobs Obama gave us welfare and dependence. After all it’s one of Aulinsky’s radical rules to get the country into massive debt and increase poverty because hungry people are weak and easy to control. That’s why I’ll never give up this lifestyle of self sustainability. I will never be in a place where I’m desperate again. As I shop in the stores and I see the families with children I wonder what that mild mannered soccer mom would look like with no food for those kids. Scary to imagine.

    • aldownunder

      Desperate people do desperate things

    • socalbeachdude

      It is not the job of the US government to create or give jobs to anyone at all.

    • JC Teecher

      Good points.
      I just recently read an article on POLITICO, that talked about the proposed cuts in entitlements needed to get Trumps agenda through and keep a balanced budget.
      As always, the establishment wants to chip away at Social Security and Medicare, but Trump has said NO.
      So, they are now looking at making major cuts to the EBT programs. Our State has made it mandatory to work 20 hours each week, or be in training for work, in order to receive benefits for anyone from the age of 18 to 50, without underage children in the home.

      Last year there were proposals to raise that age limit to age 60, according to a lady friend that works in the Social Services Department. It probably would have passed, under the old Republican Governor, that signed the HB2 bill, but he was ousted for a democrat, and that proposal has been tabled for now.

      With the fake unemployment numbers, making it seem there are jobs available on every corner in america, the House will probably get a way with cutting out a massive amount of EBT and other programs that feed the poor and elderly, while the fat cats get a huge tax cut.

      • socalbeachdude

        Politico is a far left bunch of nut jobs.

        • DonnaBe

          The cuts from those programs are not going to stabilize anything. They are going for tax cuts for the top income people.

      • BS1986

        Stop reading Politico-its soros funded bullshi&

      • Kent Ford

        you better read the news teecher, the orange clown just reported that he is gonna cut SS DISABILITY ,after the liar said that he would not touch it, and BTW disability is from SS ,thats where they get it……..

    • socalbeachdude

      Never say never, dude!

    • BS1986

      Violence.

      • socalbeachdude

        You try any of that criminal nonsense and you’ll be thrown in the hoosegow.

        • BS1986

          That’s usually your side tactics .

    • Bill

      We think alike !

  • Leif Erickson

    I am seeing families selling their homes, buying campers, and living in campgrounds to make ends meet. These families make a decent wage but can’t afford the exorbitant prices of a decent house. I am one of the lucky ones to have paid off my mortgage. I am blessed.

    • john

      tiny house is the next big thing ! lol

      • GSOB

        Proverbs 11:19

    • SnodtBlossom

      Another sad MidWesterner?

      • LIZ THE SHIZ

        Windows 10:3

        • Guten Tagen

          Wienerschnitzel 3:65

    • Carl

      Why do you have to say you are blessed because you paid off your mortgage?

      What does god have to do with the fact that the roof over your head is paid off?

      So I am assuming that the families who can’t afford a house and who are living in campgrounds are cursed or being punished by god in some way?

      How about the fact that you have a paid off mortgage is the result of: the job you do or your frugal lifestyle or some other monetary windfall you received or some other reason that has to do with your choices in life.

      It would be more honest than trying to make it seem like god specifically decided to give you something and make your life a little bit easier, while giving the shaft to someone else in the process.

      • steven454

        Sooo… you are promoting a kind of religious socialism…? It’s not possible for an individual to receive blessings from God unless everyone gets the same thing? Everything that I know and believe supports the individual relationship, and as such it is possible for God to help us or hurt us – individually. And that’s not “wrong”, it just is.

      • Leif Erickson

        Matthew 5: 1 – 12

        • Carl

          Matthew has NOTHING to do with any material thing in any way shape or form. Brainwashed christian.

          Ironically I never see anyone who is living hand to mouth crowing about how blessed they are.

          I wonder if you would be bragging about your blessed life if you were the one living in a campground and wondering where your next meal was coming from.

          Or if your child just died would you say I am blessed? No instead it would be the trite: god works in mysterious ways or god needed another angel in heaven or something to that effect.

          • Leif Erickson

            We are all blessed, but the problem is that some of us count their blessings while others count their struggles, challenges and obstacles.

          • Carl

            NO we are NOT all blessed in the game of life. Some have it easier than others based
            on the family and life situation they are born into from birth.

            Luck and
            chance it seems are at play here.

            Though some will say that before we
            reincarnate back on this planet we choose the life circumstances we want
            to experience and grow from – I am not sure I believe this.

            The truth is some people seem to struggle more in this life then others. Whether through their own action, thought and deed or just circumstances beyond their control that just snowball and they can’t get out from under whatever situation they are currently in.

            The fact that you discount these things so easily tells me a lot about you.

            Life happens and not everyone is mentally equipped to turn lemons into lemonade. For some just getting out of bed in the morning is an accomplishment.

            Why not say you are fortunate to have a paid off house instead of making it seem like you are gods special snowflake and he has heaped these “blessings” onto you. Ignoring other faithful followers.

            Think of how a fellow christian who is struggling and never seems to get ahead would feel if someone like you said how blessed they were to own their home free and clear and they were in the foreclosure process.

          • GSOB

            Nice hair, Leif

          • Leif Erickson

            Thanks. Au naturel.

        • LIZ THE SHIZ

          Woolworth 5:10

    • CASTIEL

      And you think just because you have more money than those poor families……somehow you are superiour to them in the eyes of God? Probabily a homeless person have a big heart than you……and maybe somehow he is the one who is superiour…….Dont confuse money with religion…..

      • Leif Erickson

        “Christ has redeemed us out of the curse of the law, having become a curse on our behalf; because it is written, ‘Cursed is every one hanging on a tree’; in order that the blessing of Abraham might come to the Gentiles in Christ Jesus, that we might receive the promise of the Spirit through faith.”

      • GSOB

        Proverbs 10:22

    • socalbeachdude

      More than 33% of all American families own their houses free and clear of any debt.

    • Stuey

      According to socalldrugheaddude most americans are GROSSLY OVERPAID, so this doesn’t make sense.

  • BG Gruff

    Last time I checked it was not the President that spent all of that money- it was Congress. The boys (and girls) in the House and in the Senate pass the budget and spend the money. Too many freakin’ earmarks spent in the districts and too much money wasted in the Pentagon. To many wars. Not enough tax money coming in.

    The president just gets the glory or wears the banana creme pie. Obama and Trump included.

    • huththa

      Doesn’t the President have veto power over the budget? If so then they are absolutely responsible for it.

      • socalbeachdude

        Not only that, the President must sign any budget approved and authorized by Congress into law.

      • BG Gruff

        Whether he vetoes it or not- the budget is still the prerogative of Congress. The President can attempt to set policy but it is Congress that provides the money to fund it- or not.

        In Obama’s case Congress was so obstructionist that they funded almost none of his program wishes- especially in his second term.

  • problemsolved

    kill all the sionist gews

    • LIZ THE SHIZ

      Go back to Zero Hedge

  • socalbeachdude

    With the more than $67 trillion of debt outstanding the US it is nearly impossible for the US economy to grow at all.

  • socalbeachdude
  • socalbeachdude

    The debt spending binge: Household debt has surpassed record levels reached during 2008 Great Recession.

    Debt spending is once again keeping the economy afloat. People are leveraging future income on buying items today on the basis that the economy is not going to have a hiccup. On some reports you see pundits mentioning that delinquencies remain low. Well things were fine too before the Great Recession hit. Once again we are teetering on the brink of a solvency crisis should the economy have a slight turn.

    People are living beyond their means and banks are gaming the system once again. A recent report by the New York Fed shows that household debt has now reached a new record. What is more problematic is much of the debt increase is coming from student loans, auto debt, and credit cards.

    http://www.mybudget360.com/debt-spending-binge-household-debt-record-levels/

  • socalbeachdude

    DELUSIONAL DEAD WRONG DONNIE AT IT AGAIN…

    $2 trillion in savings to come from economic growth: Trump budget

    http://www.marketwatch.com/story/more-than-2-trillion-in-savings-to-come-from-economic-growth-trump-budget-2017-05-22

  • socalbeachdude

    ABSURDITY OF PRESENT STOCK MARKET VALUATIONS…

    Apple is nearly 40% more valuable than the city of Chicago

    http://www.marketwatch.com/story/apple-is-nearly-40-more-valuable-than-the-city-of-chicago-2017-05-22

  • socalbeachdude

    BIGGEST SCAM IN HISTORY ABOUT TO BLOW UP…

    Bitcoin’s rise: $1,000 invested in 2010 would be worth $35 million today

    BTCUSD 1.06%

    http://www.marketwatch.com/story/as-bitcoin-rockets-to-records-heres-how-much-skeptics-missed-out-on-says-one-money-manager-2017-05-22

    As bitcoin rockets to records, here’s how much skeptics missed out on, says one money manager

    http://www.marketwatch.com/story/as-bitcoin-rockets-to-records-heres-how-much-skeptics-missed-out-on-says-one-money-manager-2017-05-22

    • Paul Anders

      One day…but for now, it’s just getting going.
      Once the governments ponzi scheme collapses, crypto currency will be widely accepted by the masses.

      • socalbeachdude

        BitCON is not but a Ponzi scheme SCAM and total fraud and will totally collapse imminently.

        • Paul Anders

          DUH, so is everything…but your FED ponzi scheme is just about over, Bitcoin is just beginning…

          • socalbeachdude

            No, everything is certainly not a Ponzi scheme at all. The Federal Reserve is a very conservative legitimate central bank. BitCON will soon be entirely shut down and has NO ASSETS WHATSOEVER to support even a single penny valuation per bitcoin leaving ABSOLUTELY NOTHING RECOVERABLE IN THE IMPENDING FAILURE OF BITCON.

  • ISA41:10

    Ovomitcare is still killing the economy today!!! It needs to DIE!!!

    Obamacare Full Frontal: Of 953,000 Jobs Created In 2013, 77%, Or 731,000 Are Part-Time

    Submitted by Tyler Durden on 08/02/2013 09:04 -0400
    • BLS
    • Bureau of Labor Statistics
    • Obamacare

    When the payroll report was released last month, the world finally noticed what we had been saying for nearly three years: that the US was slowly being converted to a part-time worker society. This slow conversion accelerated drastically in the last few months, and especially in June, when part time jobs exploded higher by 360K while full time jobs dropped by 240K. In July we are sad to report that America’s conversation to a part-time worker society is not “tapering”: according to the Household Survey, of the 266K jobs created (note this number differs from the establishment survey), only 35% of jobs, or 92K, were full time. The rest were… not.

  • SnodtBlossom

    You see that Free Donut & Coffee Sign. I pay over $4 for coffee and a donut at Dunkin Donuts now.

    • LIZ THE SHIZ

      Crispy Crème 24:7

      • Starbucks

        Pike Place 19:71

  • Carl

    “I often wonder what things would be like right now if Barack Obama and
    his minions in Congress had not added more than 9 trillion dollars to
    the national debt. By stealing all of that money from future
    generations of Americans and spending it now, Obama was able to
    artificially prop up the U.S. economy.”

    Actually George W Bush added MORE to the National debt than Obama did (see below). All the presidents have to keep increasing the national debt it is the only way to keep this economy going.

    Propping up the economy is all that they can do. If they didn’t our standard of living would dive 1000% because this economy is an illusion.

    The prosperity americans enjoy is an artificial reality. Corporations are propped up by our own government. Without corporate welfare most businesses that are the tried and true brands we know would have gone bankrupt long ago.

    They are not stealing money from future generations because technically there is no actual money to steal. All they are doing is keeping the game going a little longer and a little longer and a little longer. The pressure to keep things at the status quo must be tremendous for all involved.

    It is the duty of ALL presidents to keep the national debt bubble inflated.

    They have all done it:

    Barack Obama:
    Added $7.917 trillion, a 68 percent increase from the $11.657 trillion
    debt at the end of George W. Bush’s last budget, FY 2009.

    George W. Bush: Added $5.849 trillion, a 101 percent increase from the $5.8 trillion debt at the end of Clinton’s last budget, FY 2001.

    Bill Clinton:
    Added $1.396 trillion, a 32 percent increase from the $4.4 trillion
    debt at the end of George H.W. Bush’s last budget, FY 1993.

    George H.W. Bush: Added $1.554 trillion, a 54 percent increase from the $2.8 trillion debt at the end of Reagan’s last budget, FY 1989.

    Ronald Reagan: Added $1.86 trillion, a 186 percent increase from the $998 billion debt at the end of Carter’s last budget, FY 1981.

    Jimmy Carter: Added $299 billion, a 43 percent increase from the $699 billion debt at the end of Ford’s last budget, FY 1977.

    • socalbeachdude

      100% correct, Carl.

    • jaxon64

      Clever spin–you take Bush’s first year as POTUS and give it to Clinton and take away Obama’s first year of (2009) spending, stimulus bills and bank bailouts and tack it onto Bush who left office in early Jan 2009.
      Sorry but it doesn’t work that way.
      So Obama will get credited with the lousy budget that the NeoCons, Dims and Trump just passed ?

      • socalbeachdude

        Huh?

  • Ricardo

    Hang on a minute.
    1930 -> 1939: 10.8% + 8.9% +12.9% + 5.1% + 8.0% = 45.7 % MINUS -8.5% -6.4% -12.9% -1.3% -3.3% = – 32.4%. So 45.7 – 32.4 = +13.3%

    2007 -> 2016: 1.8% + 2.5% + 1.6% + 2.2% + 1.7% + 2.4% + 2.6% + 1.6% = 16.4% MINUS -0.3% -2.8% = -3.1% So 16.4 – 3.1 = +13.3%

    How do you come up with 1.33 ? If you want to do that then all the figures above would have to be turned from (example) : 10.8% to 1.08% etc etc

    Now I know the end result of Common Core.

    • Centrist

      13.3% divided by 10 equals 1.33%

      • Ricardo

        I understand that 13.3 divided by 10 = 1.33. But you can’t just compress 10 years into one year and say that the growth was 1.33 in 10 years. That is misleading. based on that theory how about we compress 100 years into one year or how about we divide 100 by 10.
        There is too much creative accounting going on to make figures fit peoples agenda and that goes for whether they are politicians, company accountants, financial analysts for news channels or simply blog writers.

    • socalbeachdude

      Learn to do mathematics.

    • Cheese Puff flotation device

      This post gave me a belly laugh.

  • 8 year depression and counting

    Obama is first president to not have a single year of “private sector” economic growth in history,his administration did massively grow the public sector welfare state via massive taxing and borrowing hence the 12 trillion (at least) in red ink in 8 years of his regime rule

  • greanfinisher

    Well of course this economy has been growing at the same rate as in the 1930s as this is the Greater Depression. Heck, the ‘real’ unemployment rate is still stuck at 23.0%, and how many millions of people are still suckled onto food stamps (bread lines)?

    • JC Teecher

      If the GOP House gets their way, the benefits of the poor and unemployed will start being reduced by 2018, as projected cuts in the food stamp program and benefits paid for disabled persons will be slashed.
      Sadly; the establishment political elite, making a quarter of a million a year, and getting 100% paid medical, and don’t forget about 8 weeks paid vacation each year, have no problem cutting benefits for those that have paid into the system for those benefits with payroll deductions.
      When are those same politicians going to start taking cuts, and eliminating fat from many bureaucratic jobs?
      Answer…NEVER!

    • socalbeachdude

      Actually, this is the GRAND GLOBAL DEPRESSION which began in August 2007 and has been intensifying ever since and is now getting rapidly worse.

  • taxpayer22

    Over The Last 10 Years The U.S. Economy Has Grown At EXACTLY The Same Rate As It Did During The 1930s…

  • DJohn1

    The problem began with the Republican President Ronald Reagan and stacking the labor board with anti-labor people.
    The result was a huge failure of labor to actually get contracts and raises in pay. Anti-union policies also caused the non-union labor to not keep up with inflation during those years.
    Then Democrat(false) President Clinton signed agreements with Mexico which led to a huge amount of labor going to cheaper wages in the South and Mexico. That was against the common person out there and we are seeing the results of this right now.
    Wake up people!
    Both parties are anti-middle class and they have proved it with their voting records and this depression is part of the results.
    The reasoning is it shuffles down from the rich and that simply does not work. Right to work laws? Try right to slave laws because the process of competition is not there.
    Competition works if you do not have giant corporate monopolies.
    The entire system is failing because a capitalist system does not work on socialist based law system.
    How many people are now forced onto welfare because of policies unfair to the American Workers?
    Near slave labor is readily available in any number of poverty stricken nations if we do not have protective laws against it.
    Those countries do not pay income tax here.
    They do bleed income out of this country.
    The real loser is China. Believe it or not the huge debt is in dollars and when our country devalues the dollar all those foreign dollars become far less valued meaning billions of dollars lost by China.
    It is to China’s advantage to help us get balance back into the value of the dollar. That is going to mean a complete change in the way we do things and the way China does things or we both lose big time.
    For one thing, future shock is making that cheap labor obsolete.
    I watched computers ruin my own trade over a time period from 1970 until the present time.
    Robotics and computers means that retail goods can be produced at a fraction of the cost we did it in the past.
    3-d printing is just beginning. But all ready we are producing artificial limbs for the handicapped at a fraction of the old cost.
    So what has to happen?
    I suggest we all go to a 32 hour week immediately to put people back to work.
    I suggest overtime be put at 2 instead of 1.5 times regular pay.
    Make overtime unprofitable and make hiring profitable.
    These things were done in the 30s and long term it produced prosperity.
    World War II did a lot to pump money into the dollar as the pound lost value our dollars gained value.
    I despise the Congress effort to impoverish people that work with discriminatory health benefits for the poor and bankrupting people that work in their old age.
    We need an equal system of health care for everyone not dependent on being poor to gain benefits.
    What use is it to work if you lose everything you ever worked for with one catastrophic illness before Medicaid steps in?
    We need a massive trade education program that makes skilled labor with skilled pay the norm not the exception.
    We need a payroll program that ptays people to go back to school and learn skills.
    None of which is cheap. Anyone with the ability to do so should get free education opportunities if they are out of work due to the China situation. Or laid off for any reason.
    We are over our heads because this nation has went atheist in the Congress and humanist by nature.
    Right now there is huge penalty for being married. It is both IRS and health care. Because medicaid is based on both partner’s income. Meaning if you live together without matrimony you get medicaid and if you are married you go bankrupt first.
    This is disgraceful of the Congress.
    It is time for a political change in both parties. One that re-establishes the economic base of this nation. That base is the paying customer in the retail market. Mostly middle class Americans making enough discretionary income to afford things.
    Otherwise these corporate rats are going broke with the rest of us.

    • JC Teecher

      “I suggest we all go to a 32 hour week immediately to put people back to work.
      I suggest overtime be put at 2 instead of 1.5 times regular pay.
      Make overtime unprofitable and make hiring profitable.”

      That may be best idea since sliced bread. Not for big corporations that have used labor as a source of profits.
      Remember, with the same number of employees working a few extra hours over forty, or even a full 8 hour day, they get the benefits of not having to pay for extras like worker’s comp. insurance for one, and extra health insurance coverage for another.

      In cutting the regular work week hours, it would most likely force companies to a more level playing field, and possibly increase the number of employees.

      Look at the other bright side possibility, workers may get an extra hour or so each day of the eight, and make as much in the total hours worked column, and have only four days each week they have to spend gas money and travel expenses. A full extra day each week, and weekend trips would increase, to bring more money back into the economy, and more pleasure into working American’s lives.

      But, corporations and establishment politicians that are in their back pockets, will never allow this to happen.

      • socalbeachdude

        And just where would most employers get any money to pay for that sort of nonsense?

    • socalbeachdude

      The vast economic problems in the USA began with FDR back in the early 1930s.

  • steven454

    I have mixed thoughts about your thesis in terms of looking at growth alone. I don’t doubt that sinister things are afoot in the bowels of our economy that will cause serious problems; but it’s also true that perpetual growth is impossible and that the pushing of growth for growth’s sake is not healthy for a sustainable economy. I’m certainly not saying that this lack of growth indicates that we are entering a healthier phase where we can maintain a healthy no-growth economy. Cheerleading growth alone is kind of like saying one’s cancer is growing so that must mean they are eating a well balanced diet.

    In our current case, if the lack of growth is an indicator of something bad then find out what the actual bad thing is and write about that.

  • Rhino Horns

    It’s too late for America. Repent and ask for mercy from the Lord Jesus, before the wrath soon commences.

    • socalbeachdude

      Most Americans have no interest at all in your Christian religion and only 23% of the entire world’s population of more than 7.5 billion has any interest in that religion.

      • GSOB

        Proverbs 12:27

        • socalbeachdude

          GetAClue 1:1

  • JC Teecher

    I am saddened for the folks that have lost loved ones in Britain, but I’m happy that I get to see……..”Comment by Carl blocked” …’oh happy day’, ole obi wan has been silenced from my window. No more rocks of condemnation bouncing off the panes. Gone…..into the ECB trash bin where it belongs.

  • socalbeachdude
  • socalbeachdude

    It is “NO MONEY NO CHECKIE” time, dude. Get a clue.

  • socalbeachdude

    What totally false and extremely bogus nonsense. John F. Kennedy never attempted to do any such thing at all as you very falsely assert.

  • socalbeachdude

    There are people on food stamps who don’t want to work: White House doubles down on ‘compassionate’ work or starve benefits cut plan as it unveils budget

    Trump’s budget guru argued Tuesday that the work requirements the administration wants are not meant to keep impoverished Americans from getting help – they ‘are not the problem.’

    http://www.dailymail.co.uk/news/article-4534816/WH-doubles-compassionate-cut-poverty-programs.html

  • socalbeachdude

    Kennedy certainly did not attempt to issue any “debt free currency” at all to bypass the Federal Reserve, and Executive Order 11110 had nothing whatsoever to do with anything other than phasing out the use of silver certificates in favor of Federal Reserve Notes.

    • Stuey

      So you calling the author a liar?

      • socalbeachdude

        There is no evidence that I am aware of to support that assertions, and if you have any at all, then please do post it.

        • Stuey

          You a politician? Because you can’t answer a question directly. So i will take that as a “yes” you are calling him a liar.

  • socalbeachdude

    The actual M2 money supply in the US consisting of checking and savings accounts in US banks is less than $14 trillion as confirmed by the Federal Reserve St. Louis Branch latest reports which are at:

    M2 Money Stock – FRED

    https://fred.stlouisfed.org/series/M2/

    Yet we have stock markets “valued” with market capitalization in the US of more than $30 trillion, bond markets “valued” at more than $40 trillion, and real estate markets “valued” at around $20 trillion for a total of more than $90 trillion just for those assets alone, leaving aside the other assets in the US. Can anyone even begin to reconcile that enormous difference between “real money” and market valuations?

  • socalbeachdude

    The price tag on universal health care is in, and it’s bigger than California’s budget

    The price tag is in: It would cost $400 billion to remake California’s health insurance marketplace and create a publicly funded universal heath care system, according to a state financial analysis released Monday.

    California would have to find an additional $200 billion per year, including in new tax revenues, to create a so-called “single-payer” system, the analysis by the Senate Appropriations Committee found. The estimate assumes the state would retain the existing $200 billion in local, state and federal funding it currently receives to offset the total $400 billion price tag.

    The cost analysis is seen as the biggest hurdle to creating a universal system, proposed by Sens. Ricardo Lara, D-Bell Gardens, and Toni Atkins, D-San Diego.

    It remains a long-shot bid. Steep projected costs have derailed efforts over the past two decades to establish such a health care system in California. The cost is higher than the $180 billion in proposed general fund and special fund spending for the budget year beginning July 1.

    Employers currently spend between $100 billion to $150 billion per year, which could be available to help offset total costs, according to the analysis. Under that scenario, total new spending to implement the system would be between $50 billion and $100 billion per year.

    http://www.sacbee.com/news/politics-government/capitol-alert/article151960182.html#storylink=cpy

  • socalbeachdude

    So much for diplomacy! Smirking Israeli ambassador to the US puts his head in his hand after Trump implies Israel is not in the Middle East

    The Israeli ambassador was left clutching his head in what appeared to be both amusement and despair during Donald Trump’s appearance in Israel on Monday. Trump was in a bilateral meeting with President Reuven Rivlin of Israel during his ongoing diplomacy tour when he implied that the country was not, in fact in the Middle East. That left Ambassador Ron Dermer, who was spectating from the sidelines, throwing his hand up to his face – and the whole thing was caught on film.

    http://www.dailymail.co.uk/news/article-4534054/Israeli-diplomat-facepalms-Trump-s-Middle-East-gaffe.html

  • HeyAHuman

    Apple is officially worth more than Chicago, the 3rd most populated city in America… About 40% more. Ominous much?

    • socalbeachdude

      That is just the based on the current PREPOSTEROUSLY ABSURD STOCK MARKET VALUATION on Apple shares.

  • socalbeachdude

    Top 10 highest earning CEOs were paid an extra 8.5 per cent equivalent to $11.5 million last year – the biggest raise since 2013

    CEOs at the biggest US companies received an 8.5% raise last year, raking in $11.5M in salary, stock and other compensation. Thomas Rutledge (file) CEO Charter Communications Inc.

    http://www.dailymail.co.uk/news/article-4533988/CEOs-received-biggest-raise-year-2013.html

  • socalbeachdude

    The economic fortunes of red and blue states can be tracked through their diverging credit scores

    Residents of most U.S. states that voted for President Donald Trump last November had an average credit score nearly 20 points lower than people in states that voted for his Democratic rival Hillary Clinton, according to this analysis of Experian’s “Premier Aggregated Credit Statistics” using the VantageScore 3.0 credit score model for each zip code in each state. While credit scores don’t necessarily reflect people’s income or debt levels, they do give a bird’s-eye view into people’s ability to repay personal loans, manage their finances and pay off credit cards on time.

    Except for Wisconsin, swing states that voted for Barack Obama in the 2012 election and Trump in 2016 had a decline in their average credit score. The swing states of Michigan, Ohio and Pennsylvania all saw a decline in average credit score from 2012 to 2016. In Florida, the average credit score dropped to 672 in 2016 over that period. In Michigan, it fell to 683 from 690 and fell to 694 from 700 in Pennsylvania. The study by LendEdu, a consumer finance comparison site, aggregated credit scores for each zip code and adjusted them for state population size.

    The VantageScore 3.0 used in this study runs the gamut from 300 to 850, a numerical scale that is commonly used, but certainly not the only credit-score model used. The lowest score is regarded as deficient and the highest as excellent. Different lenders obviously have different criteria when it comes to loaning money, and may approve borrowers with a mediocre credit score. A high score generally means that the individual in question has been paying their bills on time, or only uses a small percentage of his or her available credit on credit cards.

    http://www.marketwatch.com/story/the-diverging-economic-fortunes-of-democratic-and-republican-states-can-be-tracked-through-their-credit-scores-2017-05-20

  • socalbeachdude

    Heiress and actress Dina Merrill, who spent her childhood wintering at her mother’s Mar-a-Lago estate, before selling it to Trump, dies aged 93

    Dina Merrill passed away at the age of 93 on Monday at her estate in East Hampton, New York. One of the most famous American socialites of the 20th century, Nedenia Marjorie Hutton shocked her parents and the Park Avenue set with her decision to study acting and later head to Hollywood, where she changed her name at the start of her career.

    Once there, she landed roles in films including ‘Butterfield 8’ opposite Elizabeth Taylor, ‘Desk Set’ with Katherine Hepburn and Spencer Tracy and in her later years, the comedy sequel ‘Caddyshack II.’ Merill’s cause of death was lewy body dementia according to family members.

    http://www.dailymail.co.uk/news/article-4533814/Heiress-actress-Dina-Merrill-passes-away-aged-93.html

    • Snewz

      Yawn. No one cares.

      • socalbeachdude

        Dina Merrill was a wonderful lady and will be very much missed with her sad passing today.

        • Snewz

          Queen – Another One Bites The Dust.

    • Stuey

      What does this have to do with anything?

  • tacoma

    Trump just released his proposed budget.
    – Cut $3.5 trillion over a decade
    – Cut out Food Stamps and other national food assistance programs
    – Cut Medicad health care program for the elderly
    – Cut other welfare, educational, environmental programs
    – INCREASE military budgets

    It makes sense because the time has arrived where in order to increase military funding, and military always get more, you have to start cutting all kinds of welfare. The job the of American military is to fu&% the world. To keep this up, to perpetuate all kinds of enemies, to ensure terror against the U.S. continue, you need to continue fu&% the world. So there is forever more money for this vital national mission. But the days of rampant dollar printing appears over. So you have to fu&% somebody to divert their money. Fu&% the poor, the aged, the unemployed.

    Thanks Trump. You’ve just revealed your true self. I know I know, Putin made you do it.

    • socalbeachdude

      There never was any “rampant dollar printing” at all and the US money supply is far too constrained if anything. The total M2 money supply in the USA is less than $14 trillion in the regulated banking system to support an $18 trillion economy and around $100 trillion in preposterously elevated asset values.

      As to Trump’s measly little $360 billion a year cuts in federal government spending they are miniscule relative to the fact that the US government is spending between $1 trillion to $1.4 trillion a year MORE THAN WHAT IT TAKES IN VIA TAX REVENUES and merely cutting a $360 billion a year isn’t going to fix anything at all in that regard.

    • JC Teecher

      I agree in part, the f the poor, aged. and unemployed part, as re-pubes have almost always done that since the late 50’s. However; the jury is still out on how much cutting will be allowed by Trumpy.

      If he allows the poor and disabled to suffer for his big military and infrastructure spending, then he is no better than the left, that just say they are for them, but all they are really for is taxing the pizz out of the middle class to give to them, and never doing anything to help them help themselves out of poverty.

    • Leif Erickson

      Maybe Trump plans to use the increased military to invade and conquer another country and take their stuff to feed us and pay down the national debt. Canada would be easy. Greece and Spain don’t have any money. China would be difficult because North Korea would try to flank us.

  • socalbeachdude
  • socalbeachdude

    NOBLE GROUP SHARES CRASH, TRADING HALTED…

    Asia’s largest commodity trader, Singapore based Noble Group, shares crashed after being downgraded by S&P to CCC+ and trading is now halted in its stock.

    Trading in Noble halted after shares plunge 32%

    http://www.straitstimes.com/business/companies-markets/noble-shares-plunge-on-opening-sgx-issues-query

    Noble shares plunge amid a double dose of bad news

    http://www.cnbc.com/2017/05/22/noble-shares-plunge-amid-a-double-whammy-of-bad-news.html

  • socalbeachdude
  • socalbeachdude

    Goldman, J.P. Morgan’s stocks add 40 points to Dow industrials gain of 44 today

    A climb in the Dow Jones Industrial Average on Tuesday was being supported predominantly by a rally in banks shares, Goldman Sachs Group and J.P. Morgan Chase.

    http://www.marketwatch.com/story/goldman-jp-morgans-stocks-add-40-points-to-dow-industrials-gain-2017-05-23

  • socalbeachdude
  • socalbeachdude

    Trump’s budget by the numbers: What gets cut and why

    President Donald Trump’s team released its first full budget proposal on Tuesday, and while lawmakers are likely to dismiss most of it — as they traditionally do with most White House wishlists…

    http://www.cnn.com/2017/05/23/politics/trump-budget-cuts-programs/

  • socalbeachdude

    Op-Ed: The Trump budget is just telling the truth—and you can’t handle the truth! – CNBC

    http://www.cnbc.com/2017/05/23/trumps-budget-tells-the-truth-and-you-cant-handle-the-truth-commentary.html

  • socalbeachdude
  • socalbeachdude
  • socalbeachdude

    Ann Coulter – If Trump Continues To Break Promises, Dems Will Win Big In 2018 And Will Impeach Him

    http://insider.foxnews.com/2017/05/22/ann-coulter-president-trump-campaign-promises-2018-midterms-impeachment

  • GSOB

    Psalm 84:11
    For Jehovah God is our Light and our Protector.
    He gives us grace and glory.
    No good thing will He withhold from those who walk along His paths.

    Isaiah 9:6
    For a child will be born to us, a son will be given to us; And the government will rest on His shoulders; And His name will be called Wonderful Counselor, Mighty God, Eternal Father, Prince of Peace.

    John 8:12
    Once again, Jesus spoke to the people and said,
    “I am the light of the world.
    Whoever follows Me will never walk in the darkness,
    but will have the light of life.”

    John 14:20
    When I come back to life again, you will know that I am in my Father, and you in me, and I in you.

    Revelation 21:22-23
    ….But I saw no temple in the city, because the Lord God Almighty and the Lamb are its temple.

    And the city has no need for sun or moon to shine on it,
    because the glory of God illuminates the city,
    and the Lamb is its lamp.
    By its light the nations will walk and into it the kings of the earth will bring their glory.…

    • aldownunder

      Oh here we go
      May 24:17

      • GSOB

        Pray, slay and Eat

    • LIZ THE SHIZ

      i-Phone 8:5

      • GSOB

        Proverbs 10:21

  • William Warren

    Most modern Americans do not know what the true free market is due to the massive amount of government interference they have voted for.

    • socalbeachdude

      There is no such as a “true free market” and never has been and such thing.

  • GSOB

    1 John 3:2
    Beloved, we are now children of God, and what we will be has not yet been revealed. We know that when Christ appears, we will be like Him, for we will see Him as He is.

  • GSOB

    2 Corinthians 4:6
    For God, who said, “Let light shine out of darkness,” made His light shine in our hearts to give us the light of the knowledge of the glory of God in the face of Jesus Christ.

  • GSOB

    Isaiah 25:8
    He will swallow up death for all time,
    And the Lord GOD will wipe tears away from all faces,
    And He will remove the reproach of His people from all the earth;
    For the LORD has spoken.

  • Carl

    If you live in IL it is time to consider moving:

    Illinois Democrats In Senate Pass 33% Hike Of Personal And Corporate Income Taxes

  • James

    Someone doesn’t know the difference between arithmetic and geometric returns.

    • Leif Erickson

      But he did stay at a Holiday Inn Express last night.

  • GSOB

    Song Of Solomon
    2:14
    He brought me to the banqueting house,
    and his banner over me was love.

    • Carl

      Sounds like a personal problem to me.

      • GSOB

        Proverbs 10:16

        • Carl

          Don’t Forget Your Ovaltine It’s Very Good For You

          • GSOB

            Proverbs 19:23

          • Carl

            Fear and blood. Fear and blood. Death. Suffering. Pain. Death. Suffering. Pain. Spill blood for salvation. The key to salvation is blood. If this was in any other religious text most christians would be appalled. Yet in their bible it is A’OK with them.

          • GSOB

            Isaiah 6:3
            Revelation 4:8

  • Just wondering

    Did the economy collapse yet?

    • GSOB

      Song of Solomon 2:6

      • Barrysortero88@gmail.com

        I’m not Carl.

        • GSOB

          His left hand is under my head,
          and His right hand
          doth embrace me.

          • socalbeachdude

            There is a term for that sort of thing…

          • Touchiefeelie

            Mollestation

    • GSOB

      1 Chronicles 16:23

    • socalbeachdude

      The US and global economies have been collapsing for the PAST 10 YEARS and are now doing at a rapidly increasing rate.

    • Leif Erickson

      No. It just had a nervous breakdown.

  • James

    Some fuzzy math that is used.

    If I had $100 in investments in 1930 and the value of my investment was pegged to GDP growth. (Rounded to the fourth significant digit)
    1930: -8.5% (100 * .915) = $91.50
    1931: -6.4% (91.5 * .936) = $85.64
    1932: -12.9% (85.64 * .871) = $74.59
    1933: -1.3% (74.59 * .987) = $73.62
    1934: 10.8% (73.62 * 1.108) = $81.57
    1935: 8.9% (81.57 * 1.089) = $88.83
    1936: 12.9% (88.83 * 1.129) = $100.29
    1937: 5.1% (100.29 * 1.051) = $105.40
    1938: -3.3% (105.40 * .967) = $101.92
    1939: 8.0% (101.92 * 1.08) = $107.07
    Compound Annual Growth Rate is .69%
    ((107.07/100)^(1/10)) -1

    If I had $100 in investments in 2007 and the value of my investment was pegged to GDP growth. (Rounded to the fourth significant digit)
    2007: 1.8% (100 * 1.018) = $101.8
    2008: -0.3% (101.8 * .997) = $101.49
    2009: -2.8% (101.49 * .972) = $98.65
    2010: 2.5% (98.65 * 1.025) = $101.11
    2011: 1.6% (101.11 * 1.016) = $102.73
    2012: 2.2% (102.73 * 1.022) = $104.99
    2013: 1.7% (104.99 * 1.017) = $106.77
    2014: 2.4% (106.77 * 1.024) = $109.33
    2015: 2.6% (109.33 * 1.026) = $112.17
    2016: 1.6% (112.17 * 1.016) = $113.96
    Compound Annual Growth Rate 1.32%
    ((113.96/100) ^ (1/10)) – 1

    In summary, while the arithmetic mean of the growth rates remain the same, it is a faulty indicator due to the nature of exponential growth and decay. When dealing with finance, it is better to use the Compound Annual Growth Rate and from that it is clearly evident that economic growth in the recession and post-recession era (2007 – 2016) is much healthier than depression and post-depression era (1930 – 1930).

    • Leif Erickson

      A beautiful mind.

  • pulltheweeds

    Someday some poor soul will make a mistake and push the button. All of this economic blathering will go up in smoke with the rest of mankind.

    • Leif Erickson

      Your cup must be half empty.

  • socalbeachdude

    MORE LEAKS: Transcript of Trump Private Call with Philippine President Rodrigo Duterte… Developing…

    ‘You Are Doing An Amazing Job’…

    https://theintercept.com/2017/05/23/trump-called-rodrigo-duterte-to-congratulate-him-on-his-murderous-drug-war-you-are-doing-an-amazing-job/

  • GSOB

    Proverbs 1:33

  • GSOB

    Psalm 33:3
    Sing to Him a new song; Play skillfully with a shout of joy.

  • GSOB

    Psalm 33:22

  • socalbeachdude

    Classified documents show Obama illegally spied on Americans for years… Developing…

    http://www.drudgereport.com/

  • socalbeachdude
  • GSOB

    Psalm 13:5
    But I have trusted in Your lovingkindness;
    My heart shall rejoice in Your salvation.

    Psalm 28:7
    The LORD is my strength and my shield; My heart trusts in Him, and I am helped; Therefore my heart exults, And with my song I shall thank Him.

  • socalbeachdude

    JOHN PEDESTATE BLATANTLY LIES AGAIN…

    Clinton aide accuses top Trump ally Newt Gingrich of being ‘pretty disgusting’ for saying murdered Democratic staffer Seth Rich was ‘assassinated’ for giving emails to Wikileaks

    John Podesta whacked former House Speaker Newt Gingrich for claiming murdered Democratic staffer Seth Rich was ‘assassinated’ after giving emails to Wikileaks.

    http://www.dailymail.co.uk/news/article-4534146/Podesta-Gingrich-disgusting-peddling-Seth-Rich-story.html

  • socalbeachdude

    Trump asked two of his top intelligence officials to DENY his campaign colluded with Russia – and they snubbed him by refusing

    Trump asked National Security Agency chief and Dan Coats, Director of National Intelligence, to help reject claims his campaign colluded with Vladimir Putin’s Kremlin during the election.

    http://www.dailymail.co.uk/news/article-4532264/Trump-asked-two-intel-chiefs-deny-Russia-collusion-report.html

  • socalbeachdude

    Hannity Fights On Over SETH RICH BEING THE DNC LEAKER (as Confirmed by Kim Dotcom) As FOX Retracts…Making Fox News Management Look Like Total and Absolute FOOLS…

    http://deadline.com/2017/05/sean-hannity-fox-news-retracts-seth-rich-murder-story-wikileaks-dnc-1202101080/

  • socalbeachdude

    ENOUGH WITH THE MEDIA LIES: RUSSIAN WANTS BUZZFEED STAFF TO TESTIFY IN TRUMP DOSSIER CASE…

    http://www.mcclatchydc.com/news/nation-world/national/article152224597.html

  • socalbeachdude
  • socalbeachdude
  • socalbeachdude

    NOT SO FAST WITH ANY SAUDI DEALS, DONNIE…

    Sen. Rand Paul plans to force vote on $110B Saudi defense deal…

    http://thehill.com/homenews/senate/334776-paul-plans-to-force-vote-on-110b-saudi-defense-deal-report

  • socalbeachdude

    Even Melania has had enough and more than enough of Donnie…

    She STILL doesn’t wanna hold his hand: Melania leaves Donald grabbing air as they disembark Air Force One in Rome

    For the second day in a row, Donald Trump was left hanging as he attempted to hold his wife’s hand, as the disembarked Air Force One in Rome on Tuesday.

    http://www.dailymail.co.uk/news/article-4535084/Melania-snubs-Donald-Air-Force-One-lands-Rome.html

  • Richard Failla

    Not at the expense of plundering the planet and leaving a wasteland for our children and future generations.

    • socalbeachdude

      Huh?

  • BS1986

    Americas Decline.

  • Dave Mende

    Circle the wagons.
    25% import tariff.
    Military 75% haircut. High and tight.
    End all immigration.
    Stop Affirmative Action now.
    Stop feeding welfare babymakers.
    Merciless penalties for violent crime.
    Clean the filth of Wall Street.
    Dump Britain and “Israel.”
    Have a nice day.

  • amongoose

    They ended that depression with a war.
    just sayin.

  • Ryan

    Did everyone miss out on that record-breaking tax-payer funded defense (cough-cough offense) spending bill? I agree the welfare system has turned into a joke. Feeding, clothing, and housing people with taxpayer money so they can have baby factories. Let’s face it, that’s all it is. I say support 1 child like that, and then tie her tubes so it stops at 1 child. Everyone didn’t like the one-child policy in China, but it makes sense if people can’t feed, cloth, and house their own kids.

  • Stuey

    The last two presidents who did debt free currency were Lincoln and Kennedy, so i doubt Trump will try that route too if you know what i mean. Andrew Jackson closed down the national bank in his day and if not for two misfired pistols who knows how it would have ended up for him.

    • socalbeachdude

      JFK had nothing whatsoever to do with any “debt free currency” at all.

      • Stuey

        Well take it up with the author of this article. Once again you have come on here and discredit what he writes.

        • socalbeachdude

          What evidence do you have that JFK ever attempted to do any such thing?

      • Stuey

        Tell that to the author who i guess you are calling a liar.

        • socalbeachdude

          Please cite any evidence you have of JFK ever attempting to do any such thing.

  • max gon

    A good way to start making America great again is to re-install the Glass-Steagall Act of 1933.

    • socalbeachdude

      Yep.

  • James

    Some “interesting” math that is used.

    If I had $100 in investments in 1930 and the value of my investment was pegged to GDP growth. (Rounded to the fourth significant digit)
    1930: -8.5% (100 * .915) = $91.50
    1931: -6.4% (91.5 * .936) = $85.64
    1932: -12.9% (85.64 * .871) = $74.59
    1933: -1.3% (74.59 * .987) = $73.62
    1934: 10.8% (73.62 * 1.108) = $81.57
    1935: 8.9% (81.57 * 1.089) = $88.83
    1936: 12.9% (88.83 * 1.129) = $100.29
    1937: 5.1% (100.29 * 1.051) = $105.40
    1938: -3.3% (105.40 * .967) = $101.92
    1939: 8.0% (101.92 * 1.08) = $107.07
    Compound Annual Growth Rate is .69%
    ((107.07/100)^(1/10)) -1

    If I had $100 in investments in 2007 and the value of my investment was pegged to GDP growth. (Rounded to the fourth significant digit)
    2007: 1.8% (100 * 1.018) = $101.8
    2008: -0.3% (101.8 * .997) = $101.49
    2009: -2.8% (101.49 * .972) = $98.65
    2010: 2.5% (98.65 * 1.025) = $101.11
    2011: 1.6% (101.11 * 1.016) = $102.73
    2012: 2.2% (102.73 * 1.022) = $104.99
    2013: 1.7% (104.99 * 1.017) = $106.77
    2014: 2.4% (106.77 * 1.024) = $109.33
    2015: 2.6% (109.33 * 1.026) = $112.17
    2016: 1.6% (112.17 * 1.016) = $113.96
    Compound Annual Growth Rate 1.32%
    ((113.96/100) ^ (1/10)) – 1

    As a recapitulation, while the arithmetic mean (average) of the growth rates remains to be completely identical from the depression and recession eras, it is a faulty, misleading indicator due to the nature of exponential growth and decay. When analyzing financial statistics and financial applications, it is better to use the Compound Annual Growth Rate as an indicator of economic health and economic performance and from that indicator. When utilizing the Compound Annual Growth Rate for analysis and dissemination, it is clearly evident that economic growth and economic stability in the recession and post-recession era (defined as the interval of years of 2007 to 2016) is much healthier and has more growth than depression and post-depression era (defined as the interval of years of 1930 to 1930).

  • James
    • socalbeachdude

      Revised numbers now show 1.2% growing in Q1 2017.

  • James

    I feel bad for President Trump, because he has inherited the biggest economic mess in U.S. history.

    Worse than the Great Depression or Great Recession? Get real.

  • James

    Once upon a time the United States showed the world the power of free markets and capitalism

    Still does.

  • James

    if we want to make America great again, we should go back and do the things that made America great in the first place.

    When was it great? When did technology, science, and globalization merge to give us inexpensive, high-quality goods with instant accessibility? When in history was one able to work as long as one had an internet connection? When in history was it so easy to learn anything? When in history has medical care been better?

    If you can’t make it in the Information Economy, no economic policy can help you.

  • Oneeye Jeff

    American civilization is already in the deterioration stage. We enter into a turmoil and internal unrest. The history already shows us for these truth of every civilization throughout the history from the birth to death for average civilization lifespan of 250 years. It will be tragedy. People never learn from the past history, and it repeats itself.

  • abinico

    So what. It is the asinine concept that the economy has to grow, and grow, and grow. Nothing can do that. Get real – sometimes the economy will grow, other times it will contract.

    • socalbeachdude

      100% correct.

  • FarmaBiz

    Your math is wrong. First set average is 1.101& and the second set is 1.209%. Close, but averaging positive and negative percentages belies a lack of rigor. Things will improve once the Millennials age a bit more to peak consumption. It won’t be the 80s & 90s again, but better.

  • alex carter

    It sure *feels* like the 1930s. I’m making now what I did right out of high school, non-inflation-adjusted.

    I was making $70k a year, had a car, an apartment, fairly decent credit, etc. I had a life.

    Now I live in the shadows, basically. I have some work through knowing someone, live in the building I work in, don’t have a car, make just over the poverty line for an individual, and it’s been like this, flatline, for the last few years.

    I save pennies. I save string. I cook at home. I mend.

    Our economy depends on consumer spending and we’re creating a generation – or two! – of string-savers and menders. Not big spenders.

    Yes, we’ve got smart phones and computers, well, in the 1930s it was cars and radios. There were a couple of bright spots; the auto industry and the radio industry (which killed off the record industry because once you bought a radio you had music w/o having to buy records).

    Oh, and Busby Berkeley did great with his musicals, too. Just like we have “blockbuster” movies now.

  • Ralf-Peter Rohbeck

    Your math is wrong. You have to multiply 1+percentage/100 for each year instead of averaging percentages. Simple example: One year of 1% growth and one of -1% do not add up to zero, they “add” up to (1+1/100)*(1-1/100).

  • Your MathISWrong

    You’ve got to calculate the geometric mean, not the arithmetic mean.
    Using your numbers,
    1930-1939: 0.915*0.936*0.871*0.987*1.108*1.089*1.129*1.051*0.967*1.08 = 1.100897228
    2007-2016: 1.018*0.997*0.972*1.025*1.016*1.022*1.017*1.024*1.026*1.016 = 1.139828859

    So growth was 10.0897% over the 10 year period from 1930-1939
    Growth was 13.9828% over the 10 year period from 2007-2016

    The geometric mean:
    1930-1939: 0.9658% / year
    2007-2016: 1.31738% / year

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