Study: Obama’s Stimulus Saved America And Made Rich Richer. So Why Do Rich People Hate Him?
Posted by Phoenix Woman on June 8, 2012
Check out this very interesting study of the effects of the Obama stimulus package.
I’m not bummed out about housing starts still being flat — that was a bubble that needed to be popped.
What I do find interesting is that while most Americans have benefitted mildly — and that the stimulus did save us from a horrific chasm — the people who have reaped the most benefit from Obama are the very folks who are tossing shitloads of money at Mitt Romney.
Go figure.
7 Responses to “Study: Obama’s Stimulus Saved America And Made Rich Richer. So Why Do Rich People Hate Him?”
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Mercury Rising 鳯女 
Charles II said
The point is not just to be rich. The point is to be rich when everyone else is desperately poor, and therefore supine and subservient. The rich no longer want to get richer. They want a permanent depression.
It may sound crazy. But if you’re very, very rich and completely amoral, it makes perfect sense.
Stormcrow said
No, really, it doesn’t. It’s just a symptom of a mental disease that wealthy people are at elevated risk of contracting.
Permanent depressions hit the rich as well as the poor. It’s hard to notice because the class differences grow so wide. But in absolute terms, the rich get poorer, too. Sometimes, much poorer.
How much poorer? Well, read through Bryan Ward-Perkins’ The Fall of Rome And the End of Civilization. 100 years after the collapse in post-Roman Britain, high nobility literally could not buy or steal manufactured goods whose availability everybody in Roman Britain, who wasn’t actually a slave, took for granted.
When a collapse is bad enough to wreck the means of production, everyone’s standard of living goes down the toilet, right across the board. When it becomes literally impossible to manufacture something, like roofing tiles or Roman quality tableware, it doesn’t matter how much money you have; it’s simply unavailable. And while the aristocrats may live in the best hovels within a hundred miles, but they’re still hovels.
Charles II said
I very much appreciate the historical learning you bring to MercRising, Stormcrow. Although I have yet to buck up and finish my review of Sword/Olive, you’ve added another book to my wish list.
I agree with this analysis. In fact, I think that the impoverishment of the rich is already here. Two generations ago, there was a much greater diversity of life and culture. WE may have added new things to do and see through technology, but the world is a much poorer place for the loss of species and peoples. And of course global warming may well end up with the rich being confined to armed biospheres while the rest of us play Roller Ball in the desert.
MarkH said
I see the job growth had a big drop about March 2010. What happened to cause that?
I can only imagine it had to do with the Republicans in Congress gaining power to stop the many positive things Obama and the Dems had planned.
Well, the Dems still want to do a lot of good things. If people will vote them into office in sufficient numbers we can continue to see some important achievements.
Charles II said
Probably census workers impacted employment, Mark. It created a bump, which then vanished. The Republicans of course did not take power in Congress until 2011.
MarkH said
When did Scott Brown take his seat?
Charles II said
February, 2010.
But of course the Senate Democrats could have changed the filibuster rule to prevent him from having the disproportionate power he did. But it was they (meaning Max Baucus and the other bluedogs) who did not want to do any more stimulus. One really cannot blame the failure to do stimulus solely on the Republicans.