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Having endured what was surely a record-shattering slump last quarter, the U.S. economy faces a dim outlook as a resurgent coronavirus intensifies doubts about any sustained recovery the rest of the year.
A huge plunge in consumer spending as people stayed home and avoided shopping, traveling or gathering in crowds as the virus raged is estimated to have sent the economy sinking at a roughly 32% annual rate in the April-June quarter. That would be more than triple the previous worst quarterly economic fall, a 10% drop set in 1958. Depressed activity in such areas as business investment, home construction and government spending also likely contributed to the worst quarterly contraction on records dating to 1947.
Because the elite liberals kick into gear to destroy stuff and seek to blame other folk. 3.5 years and running.
Democrat 2020 platform... vote for us or we will destroy everything of value in this country... the economy, brick and mortar businesses, sports, entertainment, health care, the internet/social media...
Because the elite liberals kick into gear to destroy stuff and seek to blame other folk. 3.5 years and running.
Just think, if Trump had taken this virus seriously back in March and April we would be well past the worst of it by now, and working to recovery.
Instead, five months later we are in worse shape when it comes to containing it than we were at the start. No other country has fared as terribly as the U.S.
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Originally Posted by DRob4JC
Democrat 2020 platform... vote for us or we will destroy everything of value in this country.
Just think, if Trump had taken this virus seriously back in March and April we would be well past the worst of it by now, and working to recovery.
Instead, five months later we are in worse shape when it comes to containing it than we were at the start. No other country has fared as terribly as the U.S.
You have just described Trump's America.
Liberals whined about the travel ban regarding China at the end of January.
Pelosi said San Fran was open for business in late Feb.
Nationwide protests were approved by 1300 experts, and the virus re-emerged after being in decline.
CDC has no clue what's up or down.
Elite liberals have paid for the destruction of many communities where Democrats reside.
I certainly don't agree with much of the GOP's economic policy, but no, a 30+% annualized GDP decline does not always happen while the GOP is in power.
Liberals whined about the travel ban regarding China at the end of January.
Because it had huge holes in it, and the virus was already here. I think some called it racist etc....but for me the issue was that ti just wasnt that effective. 80,000 people came here from China after that "ban".
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Pelosi said San Fran was open for business in late Feb.
cool. Probably a good thing she wasn't president then, because the president back then was really doing great at this, and convincing folks to wear masks, leading by example, etc.
Oh wait. Let me laugh harder.
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Nationwide protests were approved by 1300 experts, and the virus re-emerged after being in decline.
Oddly enough this is nonsense. And it truly shocked me. I too expected the protests to be a focal point. But the majority of protesters wore a mask, and protested outside. They apparently were not a source of most of the issues. Thats what the data seems to show. And like you I as surprised. Portland should be just insane right? Nope. not really. We got a big bump from the 4th more.
Hysteria? LOL. yeah. 150K (and rising) dead is hysteria.
Is the GDP plunge concerning? Absolutely! And if we had competent leadership we might only have a few thousand deaths and be on the road to recovery.
That last sentence sums it all up. The economic trouble heading our way is a result of the incompetent and corrupt "leadership" of President Donald J. Trump. Other first world countries have managed to get things under control but America just can't seem to get it together. We're too wrapped up in our politics to do much about the pandemic, and our own leader is doing everything he can to keep us stuck in this mess.
He should be leading, not hindering.
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