AN HISTORICAL KEY TO WHAT HAPPENED AS A RESULT OF THE GREAT RECESSION
We Yanks all really-'n-truly need a perspective lesson in Economic statistics and what happened during the Great Recession, which paved the way for its own resurrection from the ashes of a No New Jobs Economy. It's a sad bit of our history.
After the Replicant HofR (elected by
39% of the electorate in the 2010 midterms) refused any further stimulus spending to get the US out of the Great Recession, the Employment-to-population Ratio stagnated. (See that
here from the Bureau of Labor Statistics.)
What happened specifically in the US is this:
*US banks had gouged on a free-for-all in realty lending without any qualifying basis for the loans made starting from the early 1980s. People were borrowing without any corroborative ability to pay the loans! Which were simply abolished and the property confiscated. (But the bad-loans continued to pile-up in terms of US overall debt!)
*The fit-hit-the-shan in 2008 when, as a parting gift of Georgie-Porgy, the Great Recession whacked America and unemployment started to sky-rocket. Wall Street had seen the debt-overhang piling up and suggested IN 2010 to its clients to sell-out.
That MASSIVE debt-sellout helped spark the Great Recession.
*See a factual piece of evidence from the Bureau of Labor Statistics of plummeting unemployment,
here: Situation - Employment-to-population Ratio.
*Obama, in the year following his entry into office as PotUS, got the Dem-run HofR to create and pass the ARRA-bill (2009) that effectively spiked an exploding unemployment rate at 10% and turned it around.
*What did only 37% of voting Americans do in the 2010 midterms? With consummate stoopidity, they voted control of the HofR over to the Replicants. Who officially pronounced cruelly that there would be NO FURTHER STIMULUS SPENDING. And why? Because they wanted Obama to lose the 2012-election due to high-unemployment and they did not give-a-damn about unemployment!
*Did they change their mind one-iota - that is, vote for some more stimulus-spending to reduce unemployment. NOPE!
*If you will look at the E-to-p Ratio linked above, no stimulus-spending meant that from November 2009 to February of 2014 NO ADDITIONAL JOBS WERE CREATED IN THE US.
*Finally, after five long and dreary years, simply tired of the situation, the American public finally rekindled Demand for goods/services and the E-to-p Ratio gradually improved.
*But from no help whatsoever from the Replicant Party!
*None, zilch, nothing - and just the opposite!
Did they win the next election for PotUS? Nope! Donald Dork lost that election!
So, how-the-hell did he become PotUS? By a bit of election trickery that is firmly planted in an early Amendment to the Constitution called the "Electoral College", one that
manipulates and misrepresents the popular-vote for the Head of State.
Which no other developed democracy has ever adopted since ...