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The Fall of OUR Economy!

Updated on April 1, 2013

Another side-effect: Housing starts down

I came across an article on the Yahoo finance pages and could not help but to respond:

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States Where No One Wants To Buy A New Home

by 24/7 staff
Sunday, August 21, 2011

provided by 24/7 Wall St.

by Douglas A. McIntyre and Charles Stockdale

There is a strong indication that home builders have almost ceased activity in several states as demand for newly built homes has dwindled. The slowdown in new home permits is particularly stark when compared to the total number of existing homes in each state. 24/7 Wall St. examined the number of building permits to find the states where no one wants to buy a new home.

Building permits are among the carefully watched statistics issues by the real estate industry each month. Permits are needed in most jurisdictions before individuals or contractor can begin physical work. Therefore, they are a reasonable indicator of future home construction. The data on permits is issued by the Commerce Department.

Building permit activity has fallen in most months since the 2007 housing crash — one that continues today. . . . (you can read the whole article at finance.yahoo.com)

These are the states where no one wants to buy a new home:

1. Rhode Island

2. West Virginia

3. Illinois

4. Michigan

5. Connecticut

6. Ohio

7. Massachusetts

8. New York

9. Maine

10. Pennsylvania

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There are over 2,000 comments for the article and I added my "two cents'" worth. lol

In reading the comments posted, I saw many facts and just as many realms of rhetoric - from both parties. lol ... But the observation by one reader "that ALL of the worst state economies are primarily Democratically controlled" is a VERY important observation.

I challenge every reader to verify for themselves the validity of the following. (This may be something new to many of you who take what you hear on TV as fact, but you will only believe the truth when you see it for yourself.) Simply comparing the annual GDP and budget deficits for several years and compare that to who is in control of the Congress during those years WILL be enlightening to you. I recommend starting with Ford or Carter for the maximum experience of self-revealed truth.

Here is what I hope you learn for yourself: First, Clinton's economy was the pits until the Republicans took the Congress his last two years. (Remember Newt's "Contract With America"? - worked like a charm.) Clinton was smart enough to go along with the new Congress and the economy boomed.

The economy BOOMED through the first six years of Bush (the greatest boom of our lifetime as you can see by your own research - regardless of what the media propaganda tells you), and it lasted until the Democrats took over during Bush's last two years. Bush was stupid enough to go along with the new Congress and the economy started to fold. Finally, as we now know, under Obama we have hit critical mass and falling fast.

HERE IS THE KEY TO OUR CURRENT FINANCIAL PROBLEM: In 2006 and 2008 the Republicans submitted bills in Congress to stop Fannie Mae and Freddie Mac, to which the Democrats (in control at that point) nixed. Either of those bills would have STOPPED the economic turmoil we are now in, but the Democrats needed economic turmoil to get Obama elected. (and it worked.) They had no idea that it would go this far.

They expected that once they had control, they could turn it all around quickly and look like heroes. The stimulus idea could have been productive had it been applied to industry or something that produced goods. However, most of the money went to preserve union jobs (trying to maintain the primary source of funding for many Democrat candidates) and to short-term work programs that created few long-term jobs. Since NOTHING income producing was stimulated, all hope of financial recovery stopped as the money allocated ran out.

**** SIDE NOTE: There is still several BILLION dollars of allocated stimulus money that has not been spent yet. It will be put into play during the next year to facilitate the Obama re-election. We saw what ONE billion dollars for a campaign could do as a man with zero experience running a business OR government was made our president. ---- Now he has several billion for round two. --- SCARY!!! ***

The past three years has seen a surge in nationalism and socialism. The government under this administration now has control of real estate (as evidenced by the Wall St. article), automotive, banking, medical and is just short steps from taking over several other industries.

They have the tools to turn this economy around (see the Hub page listed below), but are deliberately NOT using them. This administration's objective is to control or stifle private business and to get as many people dependent on government as possible. It is no accident that we currently have the largest percentage of the population on food stamps as ever in history.

Obama is succeeding in what he went to Washington to do - (and I quote) "I will fundamentally CHANGE America." ... and so he has. Much of what he has done CANNOT be reversed, but I, for one, am going to do all I can to get conservatives back in control AND THEN push the daylights out of them to do what should have been done to lock things in place during the "boom" years of Bush.

That's how I see it!


I also recommend: http://rheagl.hubpages.com/hub/Get-the-economy-moving

Comments

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    • Rheagl profile imageAUTHOR

      Bill Scherzer 

      5 years ago

      As I look back at this article (written over a year and a half ago), it is sad how little has changed. There is just more proof that this this administration is either clueless - OR they are deliberately keeping the economy down so that they can institute more power control.

      I lean toward the second. Under this administration we have seen MAJOR government controls inflicted on banking, real estate, automotive, business and healthcare (that readily come to mind and probably nowhere near all of them). Just the foundation laid with the Obamacare tax for the systematic takeover of healthcare will give the government full control of an additional 1/3 of the national economy. Add that to the banking and real estate.

      Besides the takeover of economic control, they are stiving to take control of the people. ALL of the stimulus money went to shore-up union jobs or union companies using failed technology (that no smart investor would touch), he has made "union" leaders his advisors on business development (sort or like letting a fox decide how you want hen houses built) and unemployment beneifts are constantly being in extended to the point people can live off of the government for almost 2 years. The underlying purpose of this (as I see it) is that if the government runs all business via union controlled jobs or keep people dependant on them via government programs like unemployment, food stamps, etc. then they can "dictate" the future. Dependant people MUST support where their next meal comes from. That is why unions are so important to this administration - unions CONTROL large numbers of people. That is why the stimulus money only went to companies that used unions. (Banks being an exception, but they inbedded different controls for them.)

      This country could have wealth equal to all the arab nations combined, but this administration WILL NOT let us go after it " U N T I L " they have full control. As soon as all moneys have to go through them first, THEN they will open up this country to recovering the resources that it has available. Why they have not already created a government run oil company is beyond me. You would think that would be a no-brainer for them. To this point the government PRODUCES nothing, so producing oil is a concept outside of their mental processing. lol

      Bottom line, our economy will continue its decline as long as the current line of economic "investment" continues. It failed under Jimmy Carter, it failed under Bill Clinton until the Reps took control (and Clinton was smart enough to go along with them) and it will continue to fail under Obama. Until the focus of the government starts finding ways of putting money into the hands of businesses that actually produce things that people or other countries will "buy", our economy CANNOT recover.

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