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Spandan Chakrabarti: Not Just A Bull Market, Obama Recovery Points To A Strong Bull Economy
After employment data for June showed Barack Obama besting Bill Clinton’s record on sustained private sector job creation and June’s employment numbers crushing estimates, the DOW rallied to a historical high of over 17,000. To put it in perspective, the day Barack Obama took office in the midst of the greatest recession in (most of) living memory, the DOW lost over 330 points and closed at 7,949. the DOW wasn’t the only stock index to more than double its value over Obama’s presidency. In fact, all three stock indexes economists observe did. The NASDAQ more than tripled its value, going from 1,441 to 4486, and the S&P 500 closed at 1985 on Thursday, nearly 2.5 times its value at closing on January 20, 2009.
Our businesses have added:
9.7 million jobs over 52 months ✔
More than 1.4 million this year ✔
262,000 in June ✔
→ http://t.co/yqb4kdD2fF
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The White House (@WhiteHouse) July 03, 2014Consider a quick summary of yesterday’s jobs report: The economy has now gained private sector jobs for 52 months in a row, the longest ever on record, besting even Bill Clinton’s previous record of 51 months of sustained private sector job growth. In those 52 months, the economy has added 9.7 million private sector jobs. Adding 288,000 jobs, June not only blew past estimates, it marked 5 consecutive months of over-200,000 job additions for the first time since 1999. In the past year, the stubbornly high long-term unemployment rate has finally begun to drop. The last 12 months saw a 1.4 percentage point drop in unemployment, with fully half of that coming from the previously long-term unemployed finding work. The truth – and I know I keep repeating it – is that if any white president had accomplished Obama’s record on the stock market alone, let alone the rest of the recovery, they would be well on their way to be canonized as a bona fide American saint.
More here
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The Obama Diary 
Meeeee!!!!!
Yeeeeessssss!!!!!!!!! Thank you Nerdy!!!!
Aaaaand you did it without cheating. Aren’t you prouder of this legitimate win than cheating ALL the time?
To show you how proud of you I am, I’m giving you a present and not a snarky one.
Bravo! 🙂
Don’t. Disappoint. Me. In. The. Next. Thread……….or else…….
🙂 I am very, very, very grateful Nerdy (although, cheating is WAY more fun).
You’re the germanista of TOD, Chips
😀
😆 Gooooooooal!!!
Chips on top!
Hi Nerdy and all those celebrating today. Sun has finally emerged after two dark days. It’s like the sun the sun is wishing us a good holiday. Good commentary by Spandan. He’s a smart economic analyst.
Lots and lots f suns. Must be SUN struck!!!!
welp – leaving somewhat late, but we’re headed to DC for fireworks- first time I’ve been there for July 4th in almost 40 years.. excited 🙂 🙂 Have a wonderful rest of the day everyone, and once again- Happy July 4th ~
Have a great time and stay safe, sherijr. Those DC fireworks crowds are huge.
So cool! Enjoy every bit of it and give a kiss to POTUS & FLOTUS for all of us!
Wishing you a safe journey and much fun in DC, sheri!!
Thanks for featuring Spandan’s fine essay, NW!!
Congrats on 1st Chips!!! #Coral 🙂
“Days ago we suggested that with the end of the ceasefire Ukraine’s new president, Petro Poroshenko, was calling the bluff of the Russian government. In the past, whenever Ukraine’s military was poised to win significant victories, Russia would threaten all-out invasion. This time, however, Poroshenko appears to have outmaneuvered Putin. At the end of the ceasefire, it seems no one expected Poroshenko to so aggressively relaunch his anti-terror operation to retake the east. Moscow’s rhetoric is stuck between condemning the offensive while calling for a new ceasefire. In the meantime, Russian troops appear to have largely been out of place. Unlike two weeks ago, Russia’s threat of invasion is more hushed and falling on deaf ears.
And ceasefires take time to negotiate. At this rate, while it’s possible that a ceasefire could go into effect as early as tomorrow, next week is a more realistic expectation. By that time, Ukraine will have won significant military victories against the separatists.”
More at the link: http://www.interpretermag.com/ukraine-day-137-kiev-says-it-controls-two-thirds-of-the-east/
#TrustBarack
And Putin just asked to restore friendship and partnership with the US. He still hasn’t figured out that the world is on to him.
LOVE to our wonderful 2nd Lady:
Love these #America the beautiful tweets, Meta!
Thx, Judith! America as we Democrats know it!!
And that, children, is why you defend EVERYONE. A goal out of nothing.
Has anybody got a good link with data for combating conservative morons who insist that unemployment benefits are for lazy people and that is keeps them from seeking work?
Here are some links. Some of the links even have conservative economists arguing for unemployment benefits. I’ve included a variety of articles on unemployment benefits. Hope they help:
http://www.washingtonpost.com/blogs/wonkblog/wp/2014/01/14/an-extension-of-unemployment-insurance-just-failed-in-the-senate/
http://www.epi.org/publication/unemployment_insurance_and_the_long-term_effects_of_layoffs/
http://www.bostonglobe.com/news/politics/2014/04/24/things-you-need-know-about-unemployment-insurance/HussoaG9Lp9RrV2cBODVSP/story.html
http://www.washingtonpost.com/blogs/wonkblog/wp/2013/12/20/unemployment-benefits-for-1-3-million-workers-expire-next-week-heres-what-you-should-know/
http://www.businessweek.com/articles/2014-01-20/how-killing-unemployment-benefits-could-kill-economic-growth
http://articles.latimes.com/2011/dec/12/news/la-pn-bishops-unemployment-letter-20111212
Thanks very much! As soon as this dreadful shift at work comes to an end, I intend to do some informing and I will be well armed too!
Look around in here too, lock… http://www.americanprogress.org/issues/labor/view/
Gracias!
Wonder if this will curtail future comments of ‘When Bill was…..” ‘Clinton did….’ “Yada yada Clinton…’
“The economy has now gained private sector jobs for 52 months in a row, the longest ever on record, BESTING EVEN BILL CLINTON’S PREVIOUS RECORD of 51 months of sustained private sector job growth. In those 52 months, the economy has added 9.7 million private sector jobs. Adding 288,000 jobs, June not only blew past estimates, it marked 5 consecutive months of over-200,000 job additions for the first time since 1999. In the past year, the stubbornly high long-term unemployment rate has finally begun to drop. The last 12 months saw a 1.4 percentage point drop in unemployment, with fully half of that coming from the previously long-term unemployed finding work. The truth – and I know I keep repeating it – is that if any white president had accomplished Obama’s record on the stock market alone, let alone the rest of the recovery, they would be well on their way to be canonized as a bona fide American saint.” ~ Spandan Chakrabarti July 4, 2014
The Press will keep doing what they are paid to do.,VC.
The People can ignore the crap The Press delivers about Clinton and other RW faves.
We can proclaim the truth about our extraordinary Presiden’t accomplishments
We can vote for Democrats of our own choosing..
President’s….once again, I resolve to check before posting.
‘We can proclaim the truth about our extraordinary President’s accomplishments’
In the past week or so I have noticed the enthusiasm in the air in this regard, Vicki. I suspect it was jump-started by the President’s own enthusiasm, coupled with Boehner’s idiocy, but whatever the reason , it’s GUD! Frankly I think the media are going to be as effective in their predictions as they were in 2008 and 2012. (I was mostly thinking of the Clintons themselves when I read that part of the article.)
Sadly and horrifically pertinent:
It looks like the Apollo.
New post:
http://theobamadiary.com/2014/07/04/the-fourth-of-july-at-the-white-house/