Who ya gonna believe, me or your lyin’ eyes?

Friday, August 19th, 2011 @ 3:04 pm | Politics

We know Republicans will say anything bad is Obama’s fault, but let’s check in on reality:

The markets are tanking. Again. And it’s in part because they expect us to screw up. Again.

That, at least, is what J.P. Morgan is saying. Part of what’s driving the market down is that the company announced that it was cutting its global growth forecasts by a full percentage point for 2011 and 2012. Why? I’ll let them explain:

There are three main reasons for our downgrade. First, the recent incoming data, especially in the US and the euro area, have been disappointing, suggesting less momentum into 2H11 and pushing down full-year 2011 estimates. Second, recent policy errors – especially Europe’s slow and insufficient response to the sovereign crisis and the drama around lifting the US debt ceiling – have weighed down on financial markets and eroded business and consumer confidence. A negative feedback loop between weak growth and soggy asset markets now appears to be in the making in Europe and the US. This should be aggravated by the prospect of fiscal tightening in the US and Europe.

In other words: Growth is weak and policymakers are hurting rather than helping. The debt-ceiling debate hurt. The dithering response to the euro zone’s debt crisis hurt. And the expected austerity in both the United States and Europe is going to hurt even more. J.P. Morgan notes that one reason they think the United States might tip back into recession is that in the first quarter of 2012, there will be “an automatic tightening fiscal policy if, as our US team currently assumes, this year’s fiscal stimulus measures will expire.”

The business community knows full well that the stimulus drying up is going to make things worse. Yet over in Republican Land, they will happily insist that the stimulus made things worse BECAUSE YOU KNOW THE OBAMA PEOPLE SAID IT WOULD BRING UNEMPLOYMENT DOWN TO 8 INSTEAD OF 9 BUT IT’S 10 DON’T YOU SEE!!!?!?!

Reality says the recession Bush handed off to Obama was worse than predicted, but that the stimulus still shaved a couple points off of unemployment and contributed greatly to growth and GDP.

But 2012 is on the horizon so Republicans are going to say what they’re going to say, because they’re stuck otherwise. What are they going to do, not run? Run and tell the truth, that their policies are hurting the economy, and they’ve prevented Obama from doing more by any means necessary?

Hell, no. The way they think, lying until November 2012 is the only choice they have, because no matter what the facts say, they’re the “real” Americans.

-hw

12 Responses to “Who ya gonna believe, me or your lyin’ eyes?”

  1. Anon Says:

    You can’t just admit the truth? Obama policies haven’t worked.

  2. Henry Whistler Says:

    Oh, okay, I’ll just take it from you then.

    Do the facts matter?

  3. Anon Says:

    Of course! That’s the point, you ignore them.

  4. Henry Whistler Says:

    Hey, some anonymous person said so, who needs proof?

  5. Henry Whistler Says:

    I mean, hey, to me you just sound like an asshole ignoring the facts I laid out, like every rightwing asshole projecting what you’re doing onto me, but hey, like I said, I can believe you or my lying eyes;)

  6. Anon Says:

    You said it, your lying eyes. You seem to see only what you want to see, but you don’t actually look at reality.

  7. Henry Whistler Says:

    And you are officially an Internet troll.

  8. Anon Says:

    Leave it to a liberal to go on the personal attack instead of addressing substance.

    Here are two facts that the Iowa Liberal and Obama will never admit:

    1. “The Rich” pay the bulk of taxes in the United States. According to the Congressional Budget Office, the top 1 percent pays 40 percent of all federal income taxes. The top two quintiles pay 99 percent.
    2. The bulk of the Bush tax cuts – which Obama himself extended – went to the MIDDLE CLASS! According to CNN Money, only $81.5 billion out of $544.3 billion in tax cuts (not the government’s money anyway by the way)- that’s a mere 15% went to the so-called rich, those making more than $250K.

    These two facts are undisputable, but Obama and his liberal followers insist on denying them and instead choose to lie to you in the advancement of liberal policy based on these lies, 1. The greedy rich pay almost nothing in taxes; and 2. “tax cuts for the rich” destroyed the economy.

    These liberals are lying to you folks!

  9. Henry Whistler Says:

    If you don’t like being called a troll, then stop being a troll. Don’t you have any moral standards?

    1. And?
    2. And how did those tax cuts work out for us? Launch us into an era of high revenues and booming business, did it?

    Of course, I’ve been quite open about the Bush tax cuts being repealed in their entirety in order to get our fiscal house back in order. But you don’t read the blog, you just come here to spam your bullshit like the troll you are, and then skedaddle back to your FOXworld.

    I notice you’ve yet to address a single thing I wrote in my blog entry. Knock me over with a hummingbird feather.

  10. Anon Says:

    You can be as immature as you want, calling me names, that doesn’t bother me. Your lies do though.

    And yes, markets will tank and the economy will continue to sour because of liberal leadership.

    In a 2/9/10 interview in BusinessWeek, Obama bragged, “You would be hard pressed to identify a piece of legislation that we have proposed out there that, net, is not good for business.”

    With 9.1 percent unemployment, a moratorium on oil drilling, cap & trade, to thousands of new regulations that have created a frightening climate for business, I challenge you to identify a piece of legislation from the Obama Administration that is not utterly bad for business.

    I’ve read your blog, it’s crap.

  11. Henry Whistler Says:

    Immaturity is three comments of schoolyard chatter before being goaded into making a point, which is being a troll. And then complaining about being called a troll.

    On to your stupidity:

    “And yes, markets will tank and the economy will continue to sour because of liberal leadership.”

    Evidence?

    “With 9.1 percent unemployment, a moratorium on oil drilling, cap & trade, to thousands of new regulations that have created a frightening climate for business, I challenge you to identify a piece of legislation from the Obama Administration that is not utterly bad for business.”

    1. That 9.1% unemployment would have been a lot higher without the stimulus, which is now running out and leading to the contraction you’re reading about in the papers.
    2. Is the Gulf oil spill so quickly forgotten? This is not a cause of our economic woes.
    3. Cap and trade: Lemme guess, you’re a global climate change “skeptic”? I use the quotes because few are genuine skeptics, they’re just mouthing Republican propaganda. BTW, it hasn’t passed, unfortunately, except the buck that got passed to the next generations.

    4. “Frightening climate” my ass. Financial reform was passed to stop the markets from destroying the country’s economy like they just did in 2008, under your beloved President Bush’s watch. Deregulatory policies that allowed credit ratings agencies to be influenced by the people they were rating turned junk loans into triple-A fool’s gold.

    There’s no “frightening climate,” dipshit, there’s no demand, and if you were anything other than a hack you’d know that.

    5. ” I challenge you to identify a piece of legislation from the Obama Administration that is not utterly bad for business.”

    Again, the stimulus was a big boost to the economy, just not big enough to overcome the disaster that Wall Street unleashed on us. Oh, Wall Street…the guys who bounced back with billion dollar bonuses, now sitting on around a trillion dollars of money with nothing to spend it on because there’s no demand. Business has done spectacular, it’s people who are getting the shaft.

    Which is a direct contradiction of 30 years of Republican Gospel, that by saving the rich we will lift all boats.

    “I’ve read your blog, it’s crap.”

    I’ve read your comments, and they’re sub-moronic tripe. Who gives a fuck what you think about my blog? You’re an idiot.

    Now whine a bit, whydon’tcha?

  12. Henry Whistler Says:

    And this sounds like Thayer again. You know, that idiot with the blog that loves quoting Rush Limbaugh, who edits his opponent’s comments in order to prevent losing debates, who comes here every couple weeks with a different handle to throw more shit at the wall, see what sticks, and then flee again.