(Bugout.news) In the run-up to the 2008 presidential election, then-Sen. Barack Obama captured the Democratic presidential nomination and, eventually, the presidency because he campaigned on a message of a collapsing economy.
Who could dispute that? The Great Recession had begun with the meltdown of the banking and housing industries (never mind that a Democratic president – Bill Clinton – was largely responsible for it) and for Obama, the messaging was easy: It was all George W. Bush’s fault.
Before it was all over, the national unemployment rate hit double digits, millions of Americans lost trillions in investments, housing prices and personal homeowner equity collapsed, and companies by the scores went out of business. It was as close to the brink as the U.S. had come since the 1930s.
Fast-forward to today. Despite all you’re hearing about how great things are and how well Obama has done to reverse the decline, the reality of “the Obama economy” is in the numbers: Just 38,000 jobs in a nation with a workforce of more than 204 million were created in May, a month in which job creation is generally good, and a record 94+ million Americans are not in the labor force. Obama likes to say that the economy is better now than what it was when he came into office, but is it?
The unemployment rate in May dropped to 4.7 percent, BLS reported, less than half of its Obama-era high of 10 percent in October 2009.
But the labor force participation rate has deteriorated over Obama’s two terms.
When Obama took office in January 2009, shortly before the recession hit, the labor force participation rate was 65.7 percent. The following month, it reached an Obama-era high of 65.8 percent, and then it began its seven-year downward spiral, hitting 62.4 percent in September 2015, its lowest point since 1977.
Add to this the coming robotic revolution and there is a genuine economic disaster heading our way. And while Obama isn’t responsible for this coming revolution per se, what has he done to prepare the nation for its arrival? What training and re-training programs has he touted or pushed to make Americans more marketable and useful in this inevitable future?
Nothing. And what’s more, you won’t hear the mainstream media touting any of this. We can’t even expect the legacy media report honestly on just how bad the Obama economy really is, though of course it was more than happy to pile on Bush when the Great Recession hit.
But that is an academic argument and, for the purposes of prepping, irrelevant. In the end when the collapse comes, it will no longer matter who is at fault. All that will matter is who is prepared.
At this state of the game knowledge is one of your best defenses against getting caught flat-footed. Far too many Americans are wandering around in a daze, their faces stuck in a smart phone and their days and nights filled with meaningless distractions. You don’t want to be one of them.
Just understand that what you’re seeing in the media about this wonderful economy is a ruse. There is nothing good about it, and anyone who says otherwise is simply not being honest.
Meantime, keep your eyes and ears open, stay informed, and continue prepping. We all hope for the best, but as we’ve seen with this president, “hope” won’t save us from collapse.
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