IS OBAMA “THE BEST ECONOMIC PRESIDENT IN MODERN TIMES?”

Jon Alternative Media, Blogosphere, Economy, Fiscal Policies, Government, Market Commentary

This week, people still brainwashed by the two-party system have shared articles with titles like “It’s Official: President Obama Is The Best Economic President In Modern Times.” Taking the clickbait, I dove head first into this article, only to discover it was linking to Forbes, a publication that I think, from time to time, has a few generally good articles on the economy. But this one is so ridiculous I had to double check if it was from The Onion.
The article is flawed, to say the least. For instance, that “since May 2013 the stock market has consistently been hitting highs” is no reason to cite for the economy being strong. There’s no mention that highs in the stock market are results of the Federal Reserve printing money with wild abandon.
The Forbes writer is the equivalent of showering praise on Robert Mugabe and his central bankster cohort, Gideon Gono, for how well the Zimbabwe stock market was doing in June of 2008. Soon the central bank there would be printing trillion dollar notes.
Imagine how much they would have loved Mugabe by July when the stock market had skyrocketed to 6 trillion! It kept going higher too. By October 22, 2008, the stock market was up 3,500% in one day alone! Emmanuel Munyukwi, chief executive of the Zimbabwe Stock Exchange, said on that day, “Some people think that this is a bubble about to burst but I don’t think so.”
If Munyukwi isn’t now working as an economic reporter at Forbes he should be!
Another reason cited for Obama’s best President status is his job’s record.
When The Bureau of Labor Statistics (BLS or more appropriately, simply, BS) issued its most recent jobs report, it disappointed many people who were expecting another month above 200,000 jobs added to the economy. People were optimistic. Those greenshoots were now a valley full of diversity and bounty or so they thought. But others, like Bob Deitrick, CEO of Polaris Financial Partners, remained impressed by Obama’s job record, as he told Forbes.

This post was published at Dollar Vigilante on 2014/10/10.