The Pardu

The Pardu
Watchful eyes and ears feed the brain, thus nourishing the brain cells.

Friday, January 9, 2015

McConnell Claims US Economy Thrives Due To The GOP!

Mitch McConnell the consummate carnival barker! 

It is easy to understand how conservatives accepts and ingest any and every utterance from GOP leadership. But when GOP leadership takes their lies to the greater population, they appear as Fox News-like demagogues.

Mitch McConnell, Senate Majority Leader.

"After so many years of sluggish growth, we're finally starting to see some economic data that can provide a glimmer of hope; the uptick appears to coincide with the biggest political change of the Obama administration's long tenure in Washington: the expectation of a new Republican Congress," McConnell said on Wednesday. "So this is precisely the right time to advance a positive, pro-growth agenda."
 "After so many years...." 

"Economic data that can provide a glimmer of hope...."

We at the TPI strongly suggest economic data reflecting signs of economic improvement far out dates the liberal and progressive handing the November Mid-terms to the GOP.  US economic improvement started within weeks of President Obama taking office ad the word "sluggish" is GOP for "we will admit to no improvement. "

The following is a Fact Check dot Org representation of Obama by the Numbers. The graph is dated back to 2013, therefore some figures are actually no showing as good as 2014 data.


Beyond McConnell's feed his base rhetoric and lies, the real questions is what will the GOP do to further improve the US economy. Their first day push for the Keystone XL Pipeline, abortion restrictions ad sneak attacks on Social Security certainly are not legislative initiatives that will improve the US economy.

How does the Senate Majority Leader sit on camera and make such statements when a quick Google search exposes his rhetoric as if he worked for Fox News.

Embedded image permalink
Did McConnell fail to leverage his millions in investments during the Obama years? The question is a slum dunk. No, McConnell probably benefited from the Obama economy just as anyone who has investments in equities.

CNN Money has many illustrations of the Obama economy . I have posted a few fr perspective If you are a highly informed readers you already know the message from the graphics.

First, a look at how the US markets performed over the past five years compared to international markets.

"In other words, the U.S. has been THE place to be for investors."

global markets

The markets didn't actually show a spike once the GOP won both houses of the Congress. The charts below show a much more gradual market improvement that over time is shows progress towards the image above.McConnell's reading may lead his to believe the graphs denote "sluggish." I stand corrected, he and his staff are without doubt Fox News viewers and I am certain Fox has planted the word "sluggish" as strategy for conservative pubic figures. 

While the screenshot capture below shows a clear corrections between September 18 and October 26 of 2014, I cannot find any validation of McConnell false claim. The illustration shows clear improvement in US markets over the past five years. 

Markets since mid 2009

Image via Yahoo Finance Fireshot Capture screen shot

For perspective, today's market results should stand for your additional consideration. Of course, McConnell would avouch the New Congress as the impetus for the 324.07 plus Dow surge.

Prices: one day Dow
DateOpenHighLowCloseVolumeAdj Close*
Jan 8, 201517,591.9717,916.0417,591.9717,907.87114,890,00017,907.87

For brevity sake, I will avoid posting all common economic indicators (Housing, Interest rates, GDP, auto sales, manufacturing et al).  Each indicator would show gradual improvement since Obama took office and secure the Obama Stimulus Package.  

Basically, McConnell is playing the "Claim it and it is correct" fodder for those inclined to listen and believe him.

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