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To Say the Economy is Improving is BS

Updated on October 26, 2012

The Obama campaign wants you to believe that by staying the course with Obama, the US economy will improve because four years has not been enough. The Romney campaign state they will create 12 million jobs in four years but many economists question this and whether they are "quality" jobs versus low income ones.

Both are full of BS. The US economy indicators are poor and Europe is on the verge of a deep recession, which will have a huge impact on America. Since September, US firms have announced plans to eliminate 63,000 jobs in the US and abroad. So far this year, 158,000 jobs have been eliminated. Ford is closing its first car plant in Europe in ten years, Dow Chemical is eliminating 5500 jobs, and Colgate is following with another 2300 jobs.

Companies are not building inventories but remain lean because they have no idea what 2013 will be like and many feel it will not be any better regardless of who is President. Many corporations are planning to eliminate more jobs in the next two quarters because over half of the S&P 500 companies have not made projected earnings this 3rd quarter. More layoffs are coming despite the very modest decrease of unemployment, which is nothing to crow about.

Europe's problems are becoming American problems because they import the most goods, which increase manufacturing. But, if the recession is bad, they will not be buying much and in turn, US manufacturing will decrease creating more layoffs as companies trim to be lean. Neither Romney nor Obama can do much about the Euro problem and recession and because they cannot, many of their claims for your vote are just bullshit.


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    • profile image 5 years ago

      As I see it - if you don't get rich people spending everything gets worse - so we've got to give em incentives to start moving money around again without feeling more burdened with taxes and regulations etc...Get money flowing and flowing more and more - that way it gets passed on and on. The entitlement mentality that is prevalent at present also needs to be replaced by a work mentality - makers not takers - the asian economy is booming for this reason - I see the only way out as creativity and hard work - talk doesn't achieve much - things don't just happen! (there it is again - entitlement ethic!) Great read thanks perrya!

    • CHRIS57 profile image

      CHRIS57 5 years ago from Northern Germany

      "Europe's problems are becoming American problems because they import the most goods, which increase manufacturing." I guess this is a misunderstanding. It is not Europe that imports most goods but the US. Eurozone keeps a remarkably balanced current account.

      The European problem is the large gap of productivity between Northern and Southern Europe. The American problem is the general lack of productivity (in terms of producing stuff) and competitivity compared to other major participants of world economy. Producing sector is only 10% of GDP. Exports to Europe make up some 20%. How much would be the impact of 20% decline of said 20% of 10% of GDP? 0,4% - Wow, how significant. What will be more to worry about for American manufacturing is the fact that already more competitive economies will strive harder for markets and use more ellbows than before, leaving the US economy even further behind.

      You are right in saying that neither Mr. O. nor Mr. R. will solve this decade old problem, especially not if they don´t change their market approach mindset of "Laissez faire".

    • carol7777 profile image

      carol stanley 5 years ago from Arizona

      Interesting hub and a view many do not take. At this point before election everyone is thinking their candidate will save the world.

    • Johnkadu123 profile image

      Johnkadu123 5 years ago from Toronto, Canada

      At last someone is realistic enough to point out that the economy is going to improve any time soon. The excesses of trickle down economics and imperialist adventures have hit so hard that it may take the USA decades to recover. Meanwhile China continues to stockpile dollars which it can use to terrorize developed economies through seemingly endless lines of credit. Some of us are really worried at the prospects for the future. Thanks for the hub.