America's economy just had its worst quarter on record

Federal inaction has consequences, often big consequences....

The US economy contracted by 32.9% between April and June, its worst drop on record, the Bureau of Economic Analysis said Thursday.

Business ground to a halt during the pandemic lockdown in the spring of this year, and America plunged into its first recession in 11 years, putting an end to the longest economic expansion in US history.
A recession is commonly defined as two consecutive quarters of declining gross domestic product — the broadest measure of the economy. Between January and March, GDP declined by 5%.
But this is no ordinary recession. The combination of public health and economic crises is unprecedented, and numbers cannot fully convey the hardships millions of Americans are facing.

America's economy just had its worst quarter on record - CNN

Eat more beans...

Happily, we have a world-class economist, Mr. Lawrence Kudlow, as the chief economic advisor to President of the United States of America Donald Trump. We should all be thankful for President Trump's wisdom in selecting him from among those with equally great credentials, including Nobel Prizes, that we have in these United States.

Regards, stay safe 'n well. Remember the Big 3: masks, hand washing and physical distancing.

This will make for one hell of a come back, if Trump wins the election.

BlueTex said:

Federal inaction has consequences, often big consequences....

The US economy contracted by 32.9% between April and June, its worst drop on record, the Bureau of Economic Analysis said Thursday.

Business ground to a halt during the pandemic lockdown in the spring of this year, and America plunged into its first recession in 11 years, putting an end to the longest economic expansion in US history.
A recession is commonly defined as two consecutive quarters of declining gross domestic product — the broadest measure of the economy. Between January and March, GDP declined by 5%.
But this is no ordinary recession. The combination of public health and economic crises is unprecedented, and numbers cannot fully convey the hardships millions of Americans are facing.

America's economy just had its worst quarter on record - CNN

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Yea that is what happens when gov have their economies shut down.
who would have thought that when businesses shut down and people can't work the economy tanks.

pretty much destroys every leftist theory out there that it is the government that generates wealth.

ludin said:

Yea that is what happens when gov have their economies shut down.
who would have thought that when businesses shut down and people can't work the economy tanks.

pretty much destroys every leftist theory out there that it is the government that generates wealth.

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If only we had a national leader with powers granted by congress to address national emergencies......

BlueTex said:

If only we had a national leader with powers granted by congress to address national emergencies......

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Yet, we have none..

BlueTex said:

If only we had a national leader with powers granted by congress to address national emergencies......

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Hi

"For of all sad words of tongue or pen, The saddest are these: 'It might have been!'" John Greenleaf Whittier.

Regards, stay safe 'n well. Remember the Big 3: masks, hand washing and physical distancing.

BlueTex said:

Federal inaction has consequences, often big consequences....

The US economy contracted by 32.9% between April and June, its worst drop on record, the Bureau of Economic Analysis said Thursday.

Business ground to a halt during the pandemic lockdown in the spring of this year, and America plunged into its first recession in 11 years, putting an end to the longest economic expansion in US history.
A recession is commonly defined as two consecutive quarters of declining gross domestic product — the broadest measure of the economy. Between January and March, GDP declined by 5%.
But this is no ordinary recession. The combination of public health and economic crises is unprecedented, and numbers cannot fully convey the hardships millions of Americans are facing.

America's economy just had its worst quarter on record - CNN

Click to expand...

Contradictory statements.

Federal inaction has consequences,

Business ground to a halt during the pandemic lockdown in the spring of this year,

If there was a lockdown why would there be a need for federal action?

I know, I know, Trump should have locked the whole country down sooner. Blah blah blah.
You know the thing nobody was calling for back then.
yawn.

BlueTex said:

If only we had a national leader with powers granted by congress to address national emergencies......

Click to expand...

*yawn*
same failed tired argument.

get something new for a change.
again doesn't change facts Gov's stopped people from working and shut down businesses.

hence why it was a bad quarter but then again anyone that knows even high school economics would have known that already.

BlueTex said:

Federal inaction has consequences, often big consequences....

The US economy contracted by 32.9% between April and June, its worst drop on record, the Bureau of Economic Analysis said Thursday.

Business ground to a halt during the pandemic lockdown in the spring of this year, and America plunged into its first recession in 11 years, putting an end to the longest economic expansion in US history.
A recession is commonly defined as two consecutive quarters of declining gross domestic product — the broadest measure of the economy. Between January and March, GDP declined by 5%.
But this is no ordinary recession. The combination of public health and economic crises is unprecedented, and numbers cannot fully convey the hardships millions of Americans are facing.

America's economy just had its worst quarter on record - CNN

Click to expand...

But the utterly oblivious GOP Senate ponders. Some of them do have a point:
- Trump trying to squeeze through the Bill relocating the new FBI headquarters on the site where it sits today so a competing hotel chain can't buy the property and put a hotel on it is absurd. I don't think that one is going to make it through DonDon. The 20 GOP Senators that won't at the moment vote for anything are in the main in this camp.
- There is another group battling over the McConnell/Cornyn bail out indemnifying business from everything till 2024 whether it is COVID related or not. That is not likely to go anywhere either.
- However pondering the $600 added stipend to unemployment is also absurd. When on unemployment your "job" is finding work. No tickle.....No laundry. No proof of your effort to find work, no check.

Meantime all that is left of the economy at present is floating on COVID relief money which is ending. Talk about fiddling while Rome burns.

Please note, would be King DonDon no longer has control of anybody. GOP Senators don't have to come out and rebuke him in front of the cameras. THIS is how the Legislature and the Courts for that matter rebuke an oblivious President on the way to being shown the door in November. All DonDon can do at this point is steal the election. That is all he has left in his bag of tricks. Many in this country will crawl across broken glass to get the Orangutan out of the Oval.

apdst said:

This will make for one hell of a come back, if Trump wins the election.

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That's nuts. There is no where to go but up. Considering Trumps GDP was only on average .3% better than Obama's, never hit the highs he promised us so many times, what make you think Trump will bring us back any faster than Biden or anyone else?

The first think that has to happen for economic recovery is Covid recovery. The two go hand in hand. We all know how well Trump has done with Covid.

The AntiDonald said:

That's nuts. There is no where to go but up. Considering Trumps GDP was only on average .3% better than Obama's, never hit the highs he promised us so many times, what make you think Trump will bring us back any faster than Biden or anyone else?

The first think that has to happen for economic recovery is Covid recovery. The two go hand in hand. We all know how well Trump has done with Covid.

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If Trump wins, apdst and others will blame Democrats for shutting everything down for the reason the economy is not roaring back right away. Once it starts to roar back, it will be because of Trump's brilliance. If Biden wins, apdst and others will blame the poor economy on Biden and Democrats for shutting everything down. When the economy starts to roar back, they will say that it could only go up and has nothing to do with anything Biden or Democrats are doing.

Xilnik said:

If Trump wins, apdst and others will blame Democrats for shutting everything down for the reason the economy is not roaring back right away. Once it starts to roar back, it will be because of Trump's brilliance. If Biden wins, apdst and others will blame the poor economy on Biden and Democrats for shutting everything down. When the economy starts to roar back, they will say that it could only go up and has nothing to do with anything Biden or Democrats are doing.

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At that point, if Biden wins, it doesn't matter what they say.

The AntiDonald said:

That's nuts. There is no where to go but up. Considering Trumps GDP was only on average .3% better than Obama's, never hit the highs he promised us so many times, what make you think Trump will bring us back any faster than Biden or anyone else?

The first think that has to happen for economic recovery is Covid recovery. The two go hand in hand. We all know how well Trump has done with Covid.

Click to expand...

Obama didn't have the worst pandemic in 40 years, either.

BlueTex said:

Federal inaction has consequences, often big consequences....

The US economy contracted by 32.9% between April and June, its worst drop on record, the Bureau of Economic Analysis said Thursday.

Business ground to a halt during the pandemic lockdown in the spring of this year, and America plunged into its first recession in 11 years, putting an end to the longest economic expansion in US history.
A recession is commonly defined as two consecutive quarters of declining gross domestic product — the broadest measure of the economy. Between January and March, GDP declined by 5%.
But this is no ordinary recession. The combination of public health and economic crises is unprecedented, and numbers cannot fully convey the hardships millions of Americans are facing.

America's economy just had its worst quarter on record - CNN

Click to expand...

Four more years! Obama worst president ever. I hope the gop is happy now that trump has made america great again.

BlueTex said:

Federal inaction has consequences, often big consequences....

The US economy contracted by 32.9% between April and June, its worst drop on record, the Bureau of Economic Analysis said Thursday.

Business ground to a halt during the pandemic lockdown in the spring of this year, and America plunged into its first recession in 11 years, putting an end to the longest economic expansion in US history.
A recession is commonly defined as two consecutive quarters of declining gross domestic product — the broadest measure of the economy. Between January and March, GDP declined by 5%.
But this is no ordinary recession. The combination of public health and economic crises is unprecedented, and numbers cannot fully convey the hardships millions of Americans are facing.

America's economy just had its worst quarter on record - CNN

Click to expand...

Thank you Fauci & Friends!