U.S. economy suffers titanic 32.9% plunge in 2nd quarter, GDP shows, and points to drawn-out recover

[Simon W. Moon]

Who would that be?

political donors have gotten a lot out of the stimulus bill

does that count?

surely everyone of them did it

creating and spreading a virus is child's play

 

[Threegoofs]

Who would that be?

We’ve been over this.

The Illuminati!

 

[Thoreau72]

Who would that be?

Big Pharma, and various bureaucracies like CDC and WHO and persons known and unknown who attend the Davos meetings.

 

[Conservative]

Four more years! He did say he was going to run the government just like he ran his businesses, right into the ground. Can america claim bankruptcy?

Right into the ground, the stock market went back up over 27000 yesterday so it doesn't appear that businesses understand that total destruction coming from the Trump Administration that the left keeps telling us about.

Want to make sure I have this right though, the left has been calling for quarantine and economic shutdown to prevent the spread of the virus and now because of the economic shutdown want to blame Trump for the second qtr. GDP and Unemployment numbers?? You cannot make this stuff up! What did the left think would happen if the economy was shutdown?

 

[99percenter]

Right into the ground, the stock market went back up over 27000 yesterday so it doesn't appear that businesses understand that total destruction coming from the Trump Administration that the left keeps telling us about.

Want to make sure I have this right though, the left has been calling for quarantine and economic shutdown to prevent the spread of the virus and now because of the economic shutdown want to blame Trump for the second qtr. GDP and Unemployment numbers?? You cannot make this stuff up! What did the left think would happen if the economy was shutdown?

It's trumps economy. He owns it. You seem to have trouble given GOP presidents ownership for their failures.

 

[bongsaway]

Right into the ground, the stock market went back up over 27000 yesterday so it doesn't appear that businesses understand that total destruction coming from the Trump Administration that the left keeps telling us about.

Want to make sure I have this right though, the left has been calling for quarantine and economic shutdown to prevent the spread of the virus and now because of the economic shutdown want to blame Trump for the second qtr. GDP and Unemployment numbers?? You cannot make this stuff up! What did the left think would happen if the economy was shutdown?

Why, why, why do people tie the stock markets into the economy? Trump's non managerial approach of denial with no national plan allowed this virus to spread like wildlife. The super wealthy and corporate America are doing fine, forty million or so more aren't and it's still spreading.

I'm more concerned with we the people than the economy. It will recover, before this is done a couple hundred thousand won't.

 

[Conservative]

Why, why, why do people tie the stock markets into the economy? Trump's non managerial approach of denial with no national plan allowed this virus to spread like wildlife. The super wealthy and corporate America are doing fine, forty million or so more aren't and it's still spreading.

I'm more concerned with we the people than the economy. It will recover, before this is done a couple hundred thousand won't.

Why? because the stock market funds most 401k retirement sources for over 58 million American workers representing heads of families. Only the radical left unemployment rioters have no interest in the market

The class envy, jealous, radical left believes they are entitled to someone else's wealth. we will see in November how many that is because that is what a career public servant depends on. All this hatred for private sector wealth creation and none for public servant multi millionaires preying on people dependent on gov't sources.

 

[bongsaway]

Why? because the stock market funds most 401k retirement sources for over 58 million American workers representing heads of families. Only the radical left unemployment rioters have no interest in the market

The class envy, jealous, radical left believes they are entitled to someone else's wealth. we will see in November how many that is because that is what a career public servant depends on. All this hatred for private sector wealth creation and none for public servant multi millionaires preying on people dependent on gov't sources.

Uh huh. Are you trying to tell me only Republicans work? The distortions you have to tell yourselves in order to fuel your hatred of the radical left, which is all Democrats, is amazing. I have to admit it's tough defending trump.

 

[Conservative]

Uh huh. Are you trying to tell me only Republicans work? The distortions you have to tell yourselves in order to fuel your hatred of the radical left, which is all Democrats, is amazing. I have to admit it's tough defending trump.

No, I cannot tell a radical anything as actual results don't matter to people jealous of what others have, how has some rich person prevented you from joining them? My hatred of the radical left is justified

riot pictures 2020 - Google Search

Want to speculate with tomorrow's employment/unemployment will be?

Labor Force Statistics from the Current Population Survey
Original Data Value

Series Id: LNS12000000
Seasonally Adjusted
Series title: (Seas) Employment Level
Labor force status: Employed
Type of data: Number in thousands
Age: 16 years and over
Years: 2008 to 2019

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2008 146378 146156 146086 146132 145908 145737 145532 145203 145076 144802 144100 143369
2009 142152 141640 140707 140656 140248 140009 139901 139492 138818 138432 138659 138013
2010 138438 138581 138751 139297 139241 139141 139179 139438 139396 139119 139044 139301
2011 139250 139394 139639 139586 139624 139384 139524 139942 140183 140368 140826 140902
2012 141584 141858 142036 141899 142206 142391 142292 142291 143044 143431 143333 143330
2013 143292 143362 143316 143635 143882 143999 144264 144326 144418 143537 144479 144778
2014 145150 145134 145648 145667 145825 146247 146399 146530 146778 147427 147404 147615 1.9
2015 148150 148053 148122 148491 148802 148765 148815 149175 148853 149270 149506 150164
2016 150622 150934 151146 150963 151074 151104 151450 151766 151877 151949 152150 152276
2017 152128 152417 152958 153150 152920 153176 153456 153591 154399 153847 153945 154065
2018 154482 155213 155160 155216 155539 155592 155964 155604 156069 156582 156803 156945
2019 156694 156949 156748 156645 156758 157005 157288 157878 158269 158510 158593 158803
2020 158700 158759 155772 133403 137242 142182

 

[Gimmesometruth]

Want to speculate with tomorrow's employment/unemployment will be?

Sure, employment gains are plummeting again:

 

[Conservative]

Sure, employment gains are plummeting again:

Want to wager on that? Looks like a gain to me not as big as May and June but certainly not plummeting

 

[Gimmesometruth]

Want to wager on that? Looks like a gain to me not as big as May and June but certainly not plummeting

I don't have to "wager", ADP data shows that employment gains for July PLUMMETED from the dead cat bounce of May/June.

If a gain is not as large as previous, ESPECIALLY when the losses were SO HUGE in April, them you had better be concerned about the trend going forward. August is NOT going to be better, we are going to see further headwinds since the 1st wave of the pandemic is still working its way across the US, red states having to close down again. This is NOT going to stabilize until a working vaccine is widely distributed and demand can return to 2019 levels. That won't happen till at least mid-late 2021....but I doubt even that soon.

 

[Conservative]

I don't have to "wager", ADP data shows that employment gains for July PLUMMETED from the dead cat bounce of May/June.

If a gain is not as large as previous, ESPECIALLY when the losses were SO HUGE in April, them you had better be concerned about the trend going forward. August is NOT going to be better, we are going to see further headwinds since the 1st wave of the pandemic is still working its way across the US, red states having to close down again. This is NOT going to stabilize until a working vaccine is widely distributed and demand can return to 2019 levels. That won't happen till at least mid-late 2021....but I doubt even that soon.

I prefer to wait for tomorrow for official results rather than celebrate like on potential negative news that you are hoping for

Sent from my SM-G970U using Tapatalk

 

[Gimmesometruth]

"Want to speculate with tomorrow's employment/unemployment will be?"


Con gets a response, based on ADP data, that is NOT speculation, does not
accept the analysis, can't counter the analysis, and then comes back with:

"I prefer to wait for tomorrow for official results rather than celebrate like on potential negative news that you are hoping for"


Then why in the hell would you ask for anyone to "speculate" on employment numbers? WTF is wrong with you?

 

[Conservative]

"Want to speculate with tomorrow's employment/unemployment will be?"


Con gets a response, based on ADP data, that is NOT speculation, does not
accept the analysis, can't counter the analysis, and then comes back with:

"I prefer to wait for tomorrow for official results rather than celebrate like on potential negative news that you are hoping for"


Then why in the hell would you ask for anyone to "speculate" on employment numbers? WTF is wrong with you?

ADP data doesn't show employment plummeting much to the chagrin of people like you. The initial data shows gains, not like May and June but gains not losses, why is it negative news excites people like you? are you that married to the liberal ideology where you benefit from bad news that affects others? I really feel sorry for people with such passion and hatred for a President who has no direct influence on their lives.

 

[Gimmesometruth]

ADP data doesn't show employment plummeting much to the chagrin of people like you.

I did not say "employment plummeted", I said "employment GAINS plummeted". Your reference is to total employment (nominal), I referred to the CHANGE in employment (derivative). Your inability to understand what I wrote can be summed up with the response:

WHOOSH!

The initial data shows gains, not like May and June but gains not losses

Still confuses a comment about declines in employment gains.....with "losses"

why is it negative news excites people like you?

Now you confuse factual comment, that I wrote in a tone of deep concern....with "excitement". It shows AGAIN that your critical reading skills are totally flawed.

are you that married to the liberal ideology where you benefit from bad news that affects others? I really feel sorry for people with such passion and hatred for a President who has no direct influence on their lives.

My significant other has been severely economically impacted, as has the rest of our friends and family, EVERYONE I know has been negatively affected economically by this. Does that sound like I am "excited"?

The question I have is why when you fail so badly in every exchange on points of facts do you feel the need to make this about my "life"? Are you in such a bubble that you can honestly state that your family has NOT been economically hit?

Again, WTF is wrong with you?

 

[Conservative]

I did not say "employment plummeted", I said "employment GAINS plummeted". Your reference is to total employment (nominal), I referred to the CHANGE in employment (derivative). Your inability to understand what I wrote can be summed up with the response:

WHOOSH!


Still confuses a comment about declines in employment gains.....with "losses"Now you confuse factual comment, that I wrote in a tone of deep concern....with "excitement". It shows AGAIN that your critical reading skills are totally flawed.
My significant other has been severely economically impacted, as has the rest of our friends and family, EVERYONE I know has been negatively affected economically by this. Does that sound like I am "excited"?

The question I have is why when you fail so badly in every exchange on points of facts do you feel the need to make this about my "life"? Are you in such a bubble that you can honestly state that your family has NOT been economically hit?

Again, WTF is wrong with you?

And I will wait for official results not ADP data but the reality is anything positive just doesn't support your narrative as you have such hatred for a President as if a personal family member of someone from the radical left funded by some of those social programs important to you

So exactly what did you expect the GDP and employment numbers to be in the Second quarter 2020 the worst part of the pandemic?

Your point focuses solely on the negative for some kind of political gain which never materializes. Post for me any positive post of yours regarding anything Trump has done since taking office and why is negative news so important

 

[Gimmesometruth]

And I will wait for official results

After asking for posters to "speculate", you still haven't been able to explain why you asked for speculation....and then say you will wait.

not ADP data

Which isn't "speculation", but go on...

but the reality is anything positive just doesn't support your narrative as you have such hatred for a President

How I feel about the Orange Asshole has no bearing on whether job gains increase or decline. I just wish you could grasp those concepts BEFORE posting anything on economics.

as if a personal family member of someone from the radical left funded by some of those social programs important to you

Says the retired guy utilizing Medicare and SS.

So exactly what did you expect the GDP and employment numbers to be in the Second quarter 2020 the worst part of the pandemic?

Holy chit! are you asking me to "speculate".....AGAIN?

HEY CON, WE JUST WENT THROUGH THIS CONVERSATION......WTF IS WRONG WITH YOU?

Your point focuses solely on the negative for some kind of political gain which never materializes.

Uh, the political gains/losses for the handling of this pandemic and subsequent economic crash won't "materialize"....until Nov. Everybody understands that BASIC point, except you, apparently.

Post for me any positive post of yours regarding anything Trump has done since taking office

You are confused, this isn't the Orange Asshole Happy Hour Forum....and I'm not a participant.

and why is negative news so important

Another rhetorical question.

 

[Conservative]

Gimmesometruth;1072404857]After asking for posters to "speculate", you still haven't been able to explain why you asked for speculation....and then say you will wait. Which isn't "speculation", but go on...

How I feel about the Orange Asshole has no bearing on whether job gains increase or decline. I just wish you could grasp those concepts BEFORE posting anything on economics. Says the retired guy utilizing Medicare and SS.

Exactly my point, your hatred has blinded you to the reality that no President has the kind of personal effect on you that generates this kind of hatred. When someone gets this passionate over a President and so full of hatred it shows a lot of immaturity and irrationality

Holy chit! are you asking me to "speculate".....AGAIN?

You don't have to speculate, actual numbers will be out tomorrow, negative news you celebrate which is what you want to do anyway. Maybe you ought to look in the mirror and see where the real problem lies

HEY CON, WE JUST WENT THROUGH THIS CONVERSATION......WTF IS WRONG WITH YOU?

I have been around for over a dozen Presidents and survived each of them, never have I had a President who I personally hated as I understand reality, NO President directly influences my life or my family

Uh, the political gains/losses for the handling of this pandemic and subsequent economic crash won't "materialize"....until Nov. Everybody understands that BASIC point, except you, apparently.

Being in an area that the left calls the epicenter now of the pandemic because of infections, I for some reason don't have the hatred that you have for if I get the virus, I look in the mirror at the person who didn't follow CDC guidelines and contracted the virus. I don't blame anyone else for poor personal choices like you always do

You are confused, this isn't the Orange Asshole Happy Hour Forum....and I'm not a participant.

Not to worry, the liberal in me feels very sorry for you

 

[bomberfox]

Too bad trump's leadership was too effen weak to stop the virus before it got here.
Cause it's too effen weak to deal w/ it now.



From the pre-covid era:

https://twitter.com/JoeBiden/status/1187829299207954437

3:32 PM · Oct 25, 2019
We are not prepared for a pandemic. Trump has rolled back progress President Obama and I made to strengthen global health security.
We need leadership that builds public trust, focuses on real threats,
and mobilizes the world to stop outbreaks before they reach our shores.​

TF is Trump even a choice for PotUS?

TF did the GOP let Trumpco take over?

Rolling back all progress was the point of the trump presidency, lots of people cant believe its no longer the engineered society of the 50s. We even have younger chuds pretending to be edgy by bringing back a strictly conformist society. Its like part of the evangelical movement splintered off into a more secular variety and Banon is the most likely culprit. Gamers were so gullible Banon was able to push his dogma into the community. Trump is the embodiment of whitelash.

 

[bomberfox]

I did not say "employment plummeted", I said "employment GAINS plummeted". Your reference is to total employment (nominal), I referred to the CHANGE in employment (derivative). Your inability to understand what I wrote can be summed up with the response:

WHOOSH!


Still confuses a comment about declines in employment gains.....with "losses"Now you confuse factual comment, that I wrote in a tone of deep concern....with "excitement". It shows AGAIN that your critical reading skills are totally flawed.
My significant other has been severely economically impacted, as has the rest of our friends and family, EVERYONE I know has been negatively affected economically by this. Does that sound like I am "excited"?

The question I have is why when you fail so badly in every exchange on points of facts do you feel the need to make this about my "life"? Are you in such a bubble that you can honestly state that your family has NOT been economically hit?

Again, WTF is wrong with you?

Everything with trumpists is personal.

 

[bomberfox]

Exactly my point, your hatred has blinded you to the reality that no President has the kind of personal effect on you that generates this kind of hatred. When someone gets this passionate over a President and so full of hatred it shows a lot of immaturity and irrationality





You don't have to speculate, actual numbers will be out tomorrow, negative news you celebrate which is what you want to do anyway. Maybe you ought to look in the mirror and see where the real problem lies



I have been around for over a dozen Presidents and survived each of them, never have I had a President who I personally hated as I understand reality, NO President directly influences my life or my family



Being in an area that the left calls the epicenter now of the pandemic because of infections, I for some reason don't have the hatred that you have for if I get the virus, I look in the mirror at the person who didn't follow CDC guidelines and contracted the virus. I don't blame anyone else for poor personal choices like you always do



Not to worry, the liberal in me feels very sorry for you

Concern trolling and being butthurt isnt an argument.

 

[Gimmesometruth]

Exactly my point, your hatred has blinded you to the reality that no President has the kind of personal effect on you that generates this kind of hatred. When someone gets this passionate over a President and so full of hatred it shows a lot of immaturity and irrationality

Pure nuttery, you don't have a point, you never had a point, you wanted "speculation" on the jobs report, the APD data was spot on, ergo, my "feelings" about the orange asshole, your savior, had no effect upon my being able to produce a fairly accurate data point of where job gains would be ahead of the BLS report.

You on the other hand are simply too disconnected from the real world, especially in light of you r comments about "Houston is back to normal", to be able to grasp just how bad this downturn is. Since you are so wedded to the Asshole in chief, you can't bring yourself to accept that this downturn will require huge countercyclical actions....but then your ilk never have been able to come to terms with that concept. All your lot does is watch cities burn and whine about "personal responsibilities", like all social Darwinists do.

You don't have to speculate, actual numbers will be out tomorrow, negative news you celebrate which is what you want to do anyway. Maybe you ought to look in the mirror and see where the real problem lies

There you go again, this schizoid posting method rears its head once again....if I didn't NEED to speculate (and I didn't), WHY IN THE FRACK WOULD YOU BE ASKING FOR POSTERS TO SPECULATE?

I have been around for over a dozen Presidents and survived each of them, never have I had a President who I personally hated as I understand reality, NO President directly influences my life or my family

The partisan hack attempts to play the "Im totally rational" card, and tries to make argument that domestic policy in ABSOLUTELY NO MANNER HAS ANY EFFECT ON THE LIVES OF CITIZENS. If that was in any way true, then we would not be here debating, arguing for certain policy.

Again, one of the dumbest arguments you have ever blurted.

Being in an area that the left calls the epicenter now of the pandemic because of infections, I for some reason don't have the hatred that you have for if I get the virus, I look in the mirror at the person who didn't follow CDC guidelines and contracted the virus.

Beyond the insanity of arguing the CDC guidelines are some absolute guarantee against contracting COVID, I just want to emphasize the point you made yesterday......is talking about CV19 and CDC guidelines a reflection of just how "back to normal" everything is in Houston...and Texas...and the US?

But that wasn't the point, the point you made was that the political reckoning of policy hasn't "materialized".....but it most certainly will....in November.

I don't blame anyone else for poor personal choices like you always do

Every frigging day you ALWAYS place the blame for personal economic "failure" UPON THE INDIVIDUAL, it is NEVER the result of economic tides far beyond the household. You just showed this above where you state "No POTUS effects my life". If you truly thought that, you would not be here, period. This is again another example of your schizoid posting "style".

Not to worry, the liberal in me feels very sorry for you

Save it for someone who believes your chit.