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The 32% is annualized. The first line in your link shows it.
As I said:
"It is an annualized figure. That is how the BEA has always calculated GDP, and how they always will."
Just because the BEA is calculating something the way they always have done, does not make it wrong.
Just because somebody doesn't like the number, all of a sudden they come out of the woodwork and try to tell everyone that the BEA's own methodology they've been using for decades is suddenly wrong.
Funny they did not say these things in the quarters when GDP was growing under Trump. After all, if some quarter grew 4% annualized that's really more like 1% not annualized. Where were the Trumpies pointing out the flaw in the BEA's methodology back then?
Are many people too ignorant to realize the implications of the phrase "annual/annualized rate"? Probably. That doesn't make the OP incorrect, however.
So what? You could take Obama's worst unemployment quarter and annualize it or even stretch it out for the decade. What's the point?
The point here is TDS. Nothing more. Same clowns. Different thread.
So somebody posts that the economy drops 32.9% and that's a Trump hating statement? I wouldn't think stating facts would be considered hate spewing, TBH. It either did or didn't drop 32.9%. What's that got to do with hate?
So somebody posts that the economy drops 32.9% and that's a Trump hating statement? I wouldn't think stating facts would be considered hate spewing, TBH. It either did or didn't drop 32.9%. What's that got to do with hate?
Are you reading the same replies in this thread that I am ? And yes, it is a Trump hate/blame statement. What planet have you been on ? The world is in a pandemic, do you think that has anything to do with it ? You can't be that ignorant...
Yes, according to the entity that calculates and publishes the very GDP figure we are talking about, says that it declined 32.9%.
Quote:
Originally Posted by James Bond 007
Wrong. The BEA themselves - who are the entity that calculates and publishes GDP in the first place - say it is -32.9%. It is an annualized figure. That is how the BEA has always calculated GDP, and how they always will. https://www.bea.gov/news/2020/gross-...-annual-update
We all know the reason. It's the fat orange idiot in the WH and his rabid MAGAs. The rest of the world took a realistic scientific approach to gain control, which is why our deaths are still off the charts and the infection rate continues to climb five months later. Scientific thinking didn't dominate here, MAGAs did.
The difference between our countries is we are overrun by anti-science, anti-intellectual MAGAs. We never had the same chance the rest of the world did because of it. And you're right, it's going to take years, and a Democrat in office, to right the ship.
What are you comparing this to ? Just curious. We are a country of 330 million, and we've got roughly 150k deaths. There really isn't any way to compare our country apples to apples to another.
Adding several together to get close to our population would be a fair comparison.
Spain 46 million 28,000 deaths
UK 66 million 45,000 deaths
Germany 82 million 9000 deaths
France 67 million 30,000 deaths
Italy 60 million 35,000 deaths
These countries combined have a population total of 321 million, and 147,000 total covid deaths. So, tell me again, how much worse Trump has done than any other country ? Seems to me like the entire globe is getting it's ass kicked. But go ahead, blame Trump though...SMH
The point is that's how the number's reported. This isn't new.
Real gross domestic product (GDP) decreased at an annual rate of 5.0 percent in the first quarter of 2020 (table 1), according to the "third" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.1 percent...
(emphasis mine)
Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the third quarter of 2019 (table 1), according to the "third" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 2.0 percent....
(emphasis mine)
Real gross domestic product (GDP) increased at an annual rate of 4.2 percent in the second quarter of 2018 (table 1), according to the "second" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.2 percent....
(emphasis mine)
Damn, I've got absolutely nothing to say to refute these numbers! What to do, what to do...
I know!
Hillary!
Meanwhile, the economy is in a freefall with TRUMP as POTUS. Got anything to say about that?
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