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For the naysayers who point to Q2's scamdemic drop, yes, that does drag down the year, and does create the conditions for a huge single quarter leap, but that negative rebuttal does nothing but cast light on just how strong and resilient the Trump-era economy is, to take a 32% dive and then a single quarter V recovery that exceeds the drop?
Fastest recovery and single quarter GDP bounce back in history if we hit the predicted mark.
If you are a Democrat or other variety of TDS sufferer, you only care about the 2Q drop and nothing else and go back to grumbling about mishandling the scamdemic.
If you are anyone else who cares about America not falling into utter ruin, this is objectively good news no matter how you feel about Trump himself.
For the naysayers who point to Q2's scamdemic drop, yes, that does drag down the year, and does create the conditions for a huge single quarter leap, but that negative rebuttal does nothing but cast light on just how strong and resilient the Trump-era economy is, to take a 32% dive and then a single quarter V recovery that exceeds the drop?
Fastest recovery and single quarter GDP bounce back in history if we hit the predicted mark.
If you are a Democrat or other variety of TDS sufferer, you only care about the 2Q drop and nothing else and go back to grumbling about mishandling the scamdemic.
If you are anyone else who cares about America not falling into utter ruin, this is objectively good news no matter how you feel about Trump himself.
I don't think you understand economics at all. The economy and GDP are not synonymous. You can influence the GDP more easily.
Yes, we all know that the Bush and Obama policies brought us out of the last recession and drove us to great heights until Trump and Covid took over (policies take about 3.5 years to impact the actual economy -- which is why Bush gets a lot of credit here). It wasn't until this year that we even saw what Trump's policies could do to our economy... and we're still not 100% sure due to COVID-19.
But, in the end, the GDP is standing on multi-trillion spending by the fed. There's nothing indicating a recovery yet. Let's see if they start increasing interest rates.
If you care about America not falling into utter ruin, spending Trillions of dollars without any clear indicator of economic growth, you would be concerned. But I wouldn't be surprised otherwise... you liberals like to spend and provide handouts.
I don't think you understand economics at all. The economy and GDP are not synonymous. You can influence the GDP more easily.
Yes, we all know that the Bush and Obama policies brought us out of the last recession and drove us to great heights until Trump and Covid took over (policies take about 3.5 years to impact the actual economy -- which is why Bush gets a lot of credit here). It wasn't until this year that we even saw what Trump's policies could do to our economy... and we're still not 100% sure due to COVID-19.
But, in the end, the GDP is standing on multi-trillion spending by the fed. There's nothing indicating a recovery yet. Let's see if they start increasing interest rates.
If you care about America not falling into utter ruin, spending Trillions of dollars without any clear indicator of economic growth, you would be concerned. But I wouldn't be surprised otherwise... you liberals like to spend and provide handouts.
blah blah, you hate Trump, blah blah.
35% or higher single quarter GDP growth after a 32% drop is objectively good news.
And calling me a liberal is maybe the funniest thing I have read on this forum...ever?
35% or higher single quarter GDP growth after a 32% drop is objectively good news.
Again, you need to understand the basics of economics to realize why this isn't objectively good when you look at the larger picture. Spending trillions of dollars on handouts to prop up the GDP is not a good thing. Perhaps it's a good thing for those of you who want those handouts... but it's not a good thing for America.
Again, you need to understand the basics of economics to realize why this isn't objectively good when you look at the larger picture. Spending trillions of dollars on handouts to prop up the GDP is not a good thing. Perhaps it's a good thing for those of you who want those handouts... but it's not a good thing for America.
So the millions of people who were put out of work by government meddling should have been cast aside to the fate that meddling doomed them too? Evictions, bankruptcy, mortgage defaults, etc? All caused by government, but government should stay out of cleaning up their own mess?
I despise the government, but them actually giving back some of that which they stole to ease suffering they caused...alright, I can tolerate that.
I never claimed everything was rosy and perfect with the entire economy. I said that a 35% increase after a 32% drop, which recovers the GDP hit in the 2Q is good news. One piece of good news does not make a perfect world, but good news is good.
Again, you need to understand the basics of economics to realize why this isn't objectively good when you look at the larger picture. Spending trillions of dollars on handouts to prop up the GDP is not a good thing. Perhaps it's a good thing for those of you who want those handouts... but it's not a good thing for America.
help me understand, just so I know I'm looking at this accurately.
"Propping up" spending would be limited to the stimulus, which was $290B. I guess you'd add a large portion of the PPE etal purchased domestically? Maybe any $ spent at hospitals that exceeded their normal revenues?
Quarterly GDP is around $5T.
If $290B is the figure, that's 6%
if the figure is $500B, then that's 10%
Say you start with GDP at 100 (whatever units). Let's say GDP drops 30 percent in the second quarter. It's now at 70. (100 - 30% of 100)
Now let's say in the 3rd quarter the GDP grows by 30%. Are we back to 100? No we're at 91. (70 + 30% of 70)
So if GDP dropped 33% in Q2, it has to rise by 50% just to get back to where we were.
Very good point Leo. If the ATL Fed's estimate is correct, that is a huge step in the right direction. We still wouldn't back to square 1, but a big step towards it. Great news indeed. I'm surpised the stock market fell like it did yesterday, instead of going way up.
I guess the C-19 case rise offset the good GDP news.
I'm relieved that the therapy's we now have to treat C-19, has led to a much lower mortality rate. Getting it is no longer a death sentence for everyone, like it seemed back in March.
Seeing Trump and Christie survive it was proof that the treatments work, even in older obease people.
I have a lot less anxiety than I used to, & its led to me getting our and about alot more and spending money again. Eveidently, I'm not alone for the GDP to possibly be jumping 35%
If Biden gets elected, and shuts down the economy again, there will be riots like we've never seen before.
It needs to be a County-by-County decision on how to best deal with C-19. That will also help protect our economy, and lead to GDP growth.
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