Anybody hear the latest report on GDP?

[Casper]

I can tell you for sure who did not shut down businesses. Trump. I can tell you for sure who did not send infected patient back to our nursing homes killing our most vulnerable. Trump. Trump wants our young people who are the least vulnerable to move on with their lives. He wants the young and least vulnerable to continue with their education. Trump supports our laws and our law enforcement. It is the left that support mob rule and the terrorist burning, looting, and bullying the law abiding citizens of this country.

And I can tell you who is traveling around the Nation have Super Spreader Events, trump and Pence.

 

[Lord Tammerlain]

Second quarter contracted 33% Net gain one tenth of one percent.

Your math is wrong

The contraction was larger than the expansion

If you had an economy that was at 100 (baseline number) that contracted by 50% your economy would be at 50. Now if it expanded by 50% you would get to 75, not back to 100.

Assuming it was quarter vs previous quarter and not year over year

 

[mike2810]

If the GDP is doing so well, how come the stoke market just tanked? Seems to me the value of stocks has a bigger influence in someone's retirement fund than the GDP.

 

[Crossfire]

If the GDP is doing so well, how come the stoke market just tanked? Seems to me the value of stocks has a bigger influence in someone's retirement fund than the GDP.

Because the two are not entirely dependent on one another. Remember when the stock market was doing great just a couple of months ago, and a lot of people here were saying that most people do not care about the stock market, and that it only matters to rich people? Plus, just because the DJIA goes down, does not mean that everyone's retirement takes a hit. If a few large tech companies have a terrible week, the DJIA may "tank", but many people's retirements may not go down at all. My annuity, which is tied to the stock market, is still up for the year, even with the latest "talking" of the stock market.

 

[poweRob]

Your math is wrong

The contraction was larger than the expansion

If you had an economy that was at 100 (baseline number) that contracted by 50% your economy would be at 50. Now if it expanded by 50% you would get to 75, not back to 100.

Assuming it was quarter vs previous quarter and not year over year

I was already corrected thank you.

 

[PIPEWRENCH]

And I can tell you who is traveling around the Nation have Super Spreader Events, trump and Pence.

Sorry but the protesters have already spread the virus to every city in the country. Millions of people in the streets every day for months on end make Trump rallies look minuscule and irrelevant.

 

[Casper]

Sorry but the protesters have already spread the virus to every city in the country. Millions of people in the streets every day for months on end make Trump rallies look minuscule and irrelevant.

Millions? Must be a Big movement, and funny how that happened since unlike trump Super Spreaders the protestors tend to wear masks and are on the streets for good reason.

 

[PIPEWRENCH]

Millions? Must be a Big movement, and funny how that happened since unlike trump Super Spreaders the protestors tend to wear masks and are on the streets for good reason.

Burning and looting is a great reason. No. They are in not all in one place. No they are making sure they spread this virus across this country even the world. Plus there is no possible hope of contact tracing. Well not until after they bring it home and to where they work where they give it to responsible people. Then they blame it on Trump and shut down all the mom and pop stores. Well the ones they haven't burned or looted. What are they protesting? the fact that a person deserves a fair trial. Vigilante justice and mob rule is what they want. No gathering evidence, no examining the evidence, no eyewitness testimony, no jury or justice. Just vengeance and hate.

 

[skeptic llc]

He knows bullshit and partisan mantras better than me too.

Don't sell yourself short.

 

[Casper]

Burning and looting is a great reason. No. They are in not all in one place. No they are making sure they spread this virus across this country even the world. Plus there is no possible hope of contact tracing. Well not until after they bring it home and to where they work where they give it to responsible people. Then they blame it on Trump and shut down all the mom and pop stores. Well the ones they haven't burned or looted. What are they protesting? the fact that a person deserves a fair trial. Vigilante justice and mob rule is what they want. No gathering evidence, no examining the evidence, no eyewitness testimony, no jury or justice. Just vengeance and hate.

Do you really believe there is corradiated effort to infect the populace, I mean other than trumps super spreaders? Really? I don't think you actually know what they want, but I already knew that.

 

[lwf]

"All over the news? Hardly; Downward trends are broadcast quickly and widely; Remember the previous quarter's down turn? it lead every broadcast, appeared on every page one.

Did you miss all of my links? An uptick is potentially good news. A recession is hugely bad news. The latter is simply more newsworthy.

It is a myth that the non-cable mainstream media outlets are in the pockets of Democrats and out to hurt Trump. The mainstream media reports the news and it does so as accurately as it can. The only agenda it has is ratings, so it reports the news that people want to hear. A potential recession is bigger news than a transient uptick.

 

[lwf]

The fact is our economy was doing the best it has in recent history until the Chinese unleased covid19 on us and the world. Then the left used this Chinese virus unleased on the world to shut down our country in order to take control of our government. Hopefully the people will see through this travesty. Oh the big box stores can stay open because they donate millions to the democratic regime. But all the middle class owned mom and pop stores who do not support the democratic regime were shut down and destroyed. It was the left that sent infected patient into our nursing homes killing our most vulnerable. Explain to me how all these terrorist spreading the virus and creating chaos and destruction are helping during a pandemic. The democrats support these virus spreading menaces to law and order while they shut down our economy. Our youth are the least vulnerable should be out their working and moving forward with their lives. And if you need a haircut give Pelosi a call. She will have them open for you. You don't even have to wear a mask.

This is a bunch of conspiracy theory Q-Anon nonsense. The Chinese didn't "unleash" COVID-19. They were caught with their pants down by a deadly pandemic the same as everyone else, and handled it poorly not unlike the U.S. did. And the Democrats didn't shut the economy down to seize power. The Republicans are the ones currently in power, but they didn't shut the economy down either. The pandemic is what shut the economy down, and the economy experienced an especially big hit because as usual the Republicans were too slow on the draw and waited until the virus was already widespread before they acted. Had the Trump administration taken the advice of the health experts and the Democrats and showed some leadership and quarantined earlier, the temporary business closures would have been shorter, people would have been less panicked, and the economic hit would have been a fraction of what it was. Instead, Republicans froze like deer in the headlights at the prospect of a pandemic in an election year, tried to discredit scientists and health experts, and as a result 230,000 Americans and counting have died unable to touch their loved ones before succumbing to a horrible death.

It is the right that should be ashamed of such a poor showing in leadership, and you are right to be afraid that the GOP may not see itself in a significant leadership position in the U.S. again for quite a while.

 

[jpn]

Not exactly. Pingy gives the accurate numbers. In any event, it's the V shaped recovery you told us not to expect.
What was your position on the V recovery during the summer months?

The experts I watch didn't predict a V-shaped recovery. They predicted a "square-root" recovery where the snap-back leaves us at a lower level.


Which is what happened, as Heisenberg demonstrated a few posts above this one.

 

[jpn]

As a nutshell, this is pretty good. That said, many were predicting much worse.

So, if anyone is still impressed by the 7.4% US growth from the 2nd to 3rd quarter — do NOT use annual rates! — the Euro area grew 12.7%.

In both cases it's a partial snapback that still leaves us way down from pre-covid; in both cases rising cases bode very badly for the future.

The Republicans should not have blocked the Democratic House Covid relief bill. That was economically stupid, ideologically blind, and politically suicidal.

 

[Moderate Right]

It was great news coming late in the week before the election 33.1% ANNUALIZED gain. Ergo Democrat Media Complex slow rolled it. I put this in the election poll because it demonstrated the MSM conspiracy to mask good news for Trump. Most that reported were like "GDP grows by 33% but. . ."

Remember the massive reporting when it DROPPED 32%.

Yep. The MSM will find any story they can to blame Trump while the good news is reported for about 15 seconds with no credit to Trump.

 

[PIPEWRENCH]

Do you really believe there is corradiated effort to infect the populace, I mean other than trumps super spreaders? Really? I don't think you actually know what they want, but I already knew that.

It is quite clear what they want. They want to steal instead of work for what they get. They want to terrorize and strike fear by burning and destroying what the decent hard working people of this country strived their entire life to achieve. They want vengeance not justice demanding that people not be allowed a trial and due process. They are spreading this virus making contact tracing impossible and squandering resources needed to help the decent people out their working and trying to keep our economy from total collapse.

They are not the solution to anything but a major contributor to the problem. They are stopping criminal activity but a part of it. It is the democratic leaders in the democratic run cities who have failed do something about the treatment of black people by the police. These failed leaders are the ones they need to vote out of office. It is these failed leaders that support not only the bad behavior of a few police but the on going criminal activities by these terrorist.

 

[Jay59]

The experts I watch didn't predict a V-shaped recovery. They predicted a "square-root" recovery where the snap-back leaves us at a lower level.View attachment 67302243Which is what happened, as Heisenberg demonstrated a few posts above this one.

That's not a square root recovery. A square root recovery comes out higher than you go in, see below. Also, the recover is not over, so your image is incomplete.

View attachment 67302249

So, if anyone is still impressed by the 7.4% US growth from the 2nd to 3rd quarter — do NOT use annual rates! — the Euro area grew 12.7%. In both cases it's a partial snapback that still leaves us way down from pre-covid; in both cases rising cases bode very badly for the future. The Republicans should not have blocked the Democratic House Covid relief bill. That was economically stupid, ideologically blind, and politically suicidal.

If the "that" in your final sentence refers to the Democrat's plan, I agree. The Republican proposal if $1.8 Trillion is too much of a concession. That's well over twice the defense budget, while the Democrat's proposal is closer to four times the Defense budget than three. As you say--suicide.

The relevant economic number is 2.9% below last year and trending up. One of the less discussed affects of natural disasters is long term growth in the effected area. You even see it in nature. Growth after a fire or flood is more vigorous.

Thanks for reposting my two quotes. I agree that they bore repeating.

You can bore with the best.

 

[jpn]

Thanks for reposting my two quotes. I agree that they bore repeating.

 

[What if...?]

Exactly. Plus the drop in the market is a direct result of the democrat's shutting down the economy. Well they didn't shut down the big box stores that are owned by the rich and powerful who fund their party and own the media. But not so good for the small stores of the middle class. Well unless Pelosi needs a trim.

Like Walmart? I had no idea they were liberals.

 

[PIPEWRENCH]

Like Walmart? I had no idea they were liberals.

Here is an eye opener. The rich and powerful fund both parties. A lot donate to both parties like the banks that make up the Federal reserve. They own our government and could care less which of their 2 candidates from their 2 parties they own you vote for.

 

[Bullseye]

Yep. The MSM will find any story they can to blame Trump while the good news is reported for about 15 seconds with no credit to Trump.

Many eventually reported it, grudgingly. And found we's to belittle it. Best comment from the non-MSM was there retort - Trump regained 2/3 of GDP in a few months while fighting COVID headwinds. Obama took over a year to do the same with no resistance"

 

[What if...?]

Here is an eye opener. The rich and powerful fund both parties. A lot donate to both parties like the banks that make up the Federal reserve. They own our government and could care less which of their 2 candidates from their 2 parties they own you vote for.

Yes.

But that's not how the post I'm replying to sounded.

 

[pamak]

It was great news coming late in the week before the election 33.1% ANNUALIZED gain. Ergo Democrat Media Complex slow rolled it. I put this in the election poll because it demonstrated the MSM conspiracy to mask good news for Trump. Most that reported were like "GDP grows by 33% but. . ."

Remember the massive reporting when it DROPPED 32%.

Simple math...

If a number is reduced by x% and that new number (after the reduction) is increased by the same percent, the end result is always lower. This is simple consequence of the fact that 30% of a larger number is larger than a 30% of a smaller number.

 

[Bullseye]

Simple math...

If a number is reduced by x% and that new number (after the reduction) is increased by the same percent, the end result is always lower. This is simple consequence of the fact that 30% of a larger number is larger than a 30% of a smaller number.

What's your point? We've regained 66% of the drop in GDP in a few months - Something it took Obama over a year to do and he had the full power of his office and Congress. Oh, and no COVID shutdowns and isolations. Got anything else?

 

[pamak]

What's your point? We've regained 66% of the drop in GDP in a few months - Something it took Obama over a year to do and he had the full power of his office and Congress. Oh, and no COVID shutdowns and isolations. Got anything else?

You made my point...

Obama ended his first term with a higher GDP and more jobs. And thisss happeneed during a financial crisis AND a pandemic

2009 swine flu pandemic - Wikipedia

en.wikipedia.org