“Seven quarters into the Obama recovery, GDP growth has averaged an annual rate of only 2.8 percent. In contrast, since 1970, the first seven quarters of previous recoveries averaged 4.6 percent. The poor growth rate is especially surprising since the preceding recession was so severe, there should have been ample room for high growth as the unemployed returned to work. For example, the Reagan recovery followed a similarly high unemployment rate and saw the economy grow at an average annual growth rate of 7 percent.”
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Read more: Obama Recovery Offers Excuses

In January of 2009, Christina Romer and Jared Bernstein, then President Obama’s chief economic advisors, put together an analysis predicting that the Democrats’ stimulus package would “save or create” at least 3 million jobs by the end of 2010. Similarly, Romer and Bernstein claimed that passage of the stimulus package would keep the unemployment rate under 8 percent, falling to 7 percent by the end of 2010. But since that time, the unemployment rate has remained above 9 percent for 20 consecutive months, and there are 6.8 million fewer jobs than Romer and Bernstein predicted in their now-infamous report.

More at biggovernment.com

In a strong article by By Matthew Pelicano, “Distribution: Economics Built on Revelation”, the author talks about how distribution of wealth relates to capitalism and socialist.

Here is an exerpt:

Distributism is not re-distribution of wealth, a staple of socialism. Distributism gets its name from distributive justice. Therefore, what Distributists seek is equal protection under the law for all citizens regardless of class or any other qualifier.  Distributists seek the widespread distribution of the ownership of the means of production to any who desire such freedom.  The most efficient means of accomplishing this is by defending and protecting the right to private ownership.  Clearly, defending and protecting the right of ownership is incompatible with the unjust redistribution of another man’s property.

Distributism is not a form of capitalism.  Distributism is founded upon principles at odds with those upon which capitalism is founded.  For example, capitalism relies heavily upon usury.  Distributism is against the paying of interest on non-productive loans.  Capitalism differs with Distributism, most fundamentally, in its concept of the purpose of economic activity itself.  Capitalism seeks profit above all else, whereas Distributism seeks individual freedom in providing for man’s material needs.

Distributism is not socialism. Socialism sets itself apart from Distributism in its conception of the role of government; the nature, dignity and destiny of man; the right to private ownership and the status of economic freedom as a good in and of itself. Distributism does not support the unbridled competition of dog-eat-dog capitalism, nor does it support the managed economy of socialist systems.  Distributism supports freedom, cooperation and subsidiarity.

Read the full well-written article at Catholic Online.

UPDATE: and from a comment – “…God has already established “distributive justice” by giving us the power to say ‘yes’ to helping our neighbor in giving of ourselves. And by helping our neighbor, I mean performing any type of productive work, whether the most mundane, or on the grandest scale. To say that capitalism ‘tends to center the means of production in the hands of a wealthy few’ is misleading and creates class envy. Plus, it focuses attention on temporal things like physical assets and caesar’s wealth. These things are not to be valued or striven for; and the gospel spells that out.”

Amazing, just as Obama is trying to steer America into accepting a socialism/communism model, the Castro brother is trying to save his country by allowing some capitalism in order to generate income on the island.

Accept reforms or “we will fall off the cliff” warns Raúl Castro Cuban President Raul Castro told unionists to accept layoffs and reforms that open the way for private enterprise as necessary for the survival of socialism. Castro’s speech was published in the party newspaper Granma as Cuba prepares to dismiss 500,000 state workers by March, affecting 10% of the workforce.

The dismissed workers are being encouraged to go into business for themselves, and Granma said the central bank may offer micro-credits to new entrepreneurs as the island faces its worst economic slump since the former Soviet Union ended support in the 1990s.

(Excerpt) Read more at en.mercopress.com

Click to enlarge.

Worst. President. Ever.

In 2010, Obama’s War on the Middle Class is succeeding. This was the change you were hoping for?

See: the U.S. Poverty in America sees record increases.