U.S. GDP booms at 33.1% rate in Q3, better than expected

Our government-induced recession/turn-key recovery have taught us one valuable lesson;

How to quickly recover from a recession?

1. Keep all affected businesses way above water over nine months

2. Keep all affected workers way above water over nine months.

3. Inject another $2.2 trillion if needed.

Total deficit spending over 12 months; $4.2 trillion

4. Plus the Federal Reserve’s $2.1 trillion rescue/recovery package.

Total cost; $6.3 trillion

 

Neither Obama nor Trump have a magic wand. Just deficit spending, going into overdrive under Trump.

 

Great news!

 

Open, Open, Open! Keep opening the economy!

 

Same article;

The stimulus programs that provided much of the economic lift last quarter are expired or are expiring.
Fiscal support is diminishing. That is part of the reason that the pace of growth is going to slow here.

————

Thus, in reference to our record high GDP, a special thanks to;

The Federal Reserve’s $2.1 trillion rescue/recovery package

Congress $2 trillion stimulus, + a forthcoming $2.2 trillion

The IRS

Mnuchin’s Distributors & Co.

Trump’s Pen

 

Dude - you are reveling in fantasia .. and completely missed the great example I gave you .. The economy sucks right now ... the increase in GDP only looks good because of how far it had dropped. You have no idea what the statistic you are using means - relative to the "Chart" .. relative to the big picture.

Exxon announced 14,000 in layoffs today - the Shale sector completely collapsed .. a rather large segment of the economy representing the increase from 4 million bpd to 13 million bpd .. and now going backwards quickly .. and new activity down to a dribble -

Our hope is that we are starting to hit bottom - but I do not see any end in sight for at least another quarter ... and as long as society remains locked down - the bigger the Economic Tsunami will be .. and along with it the increased social unrest ..

I don't put any significance in the number .. it is background noise. You are basically saying .. the last quarter was incredibly bad .. historic bad.. economy grinding to a halt .. but its a big big train and don't slow down that fast .. but breaks like we have never seen before in our lifetime.

To take that quarter .. and say about the next one .. Things were historically horrific ..but we were 30% better than the most horrific.. on a rate of change basis - is much ado about nothing..

I wouldn't be popping any corks anytime soon.. and believe me .. it is not for lack of trying that I am looking for the light at the end of this tunnel.

 

yes the trump admin acted in the face of the chinese pandemic to ensure we didn’t tip over an economic cliff.

His swift actions saved the economy and millions of lives

 

Do the math mate .. Your share price drops from 100 dollars down 33% .. to 67 .. and then rises 33% - you are at 89.11 .. still down 11%.
Just wanted to point out the mathematics - of a simple example.

If we get into the real claim being made .. 33% ? 33% what Are we talking 33% of the rate of increase/decrease . the whole pot .. I didn't want to get into this .. so tried to give a simple example .. of why it is not necessarily time to bring out the chapaigne ...

So need to at what the number represents. Regardless .. one thing I can tell you .. is that the Economy is out behind the bar taking a kicking right now .. and some quarterly blip does not change that .. more down quarters to come .. rest assured .. GDP for the forseeable future is not on a happy trend.

 

AND control the pandemic.

 

Yea!

And it only cost us $7 trillion dollars in more debt and we're still still at a negative 3.5% GDP growth for the year and
we are in an official recession! Go girl, Trump.

 

Okay. How 'bout this?

 

Yep. We got this!

 

We do. But whoever is the next President is going to have some real crappy GDP numbers for 2021.
And the largest National Debt increase in history. It's bad when you have to by economic growth with borrowed dollars.

 

1. I know math and I did not claim that the economy has recovered to the pre-pandemic level
2. You are splitting hairs , 33.1% growth is a humongous and extremely positive development signifying a V-shaped recovery which most economists and politicians did not believe possible.

 

I'm generally opposed to the government just mailing out wads of money to people....except....when the government forces healthy business owners to shut their doors and forces healthy employed people to stay home from work. Then, they owe us.

If Trump messed up on Covid, it was caving in to the CDC and joining in on the global panic which most of the world's leaders succumbed to. Massive statewide shutdowns were stupid. We should have shut counties or cities as needed and just told people the common sense stuff: wash your hands, cough/sneeze into your elbow, stay home if you're sick.

 

33.1% Growth of what .. please quantify what this number is referring to.

 

As we speed towards a $28 TRILLION NATIONAL DE BT !!!!!

 

What "growth" ? This is mostly government money to prop up the economy. This is not "commerce".

I dont care who is president, I want the economy to do good. But this is a falsely inflated number, the same as the stock market is currently falsely inflated

Mnuchin put 4 trillion of tax payer dollars into the markets to prop them up (just in time for the election), and they are doing the same with the stimulus.

 

Exactly - when you look at the underlying economy - its a disaster .. as is the rest of the world - but the Credit Card Companies are still going strong .. and after a year of going deeper into debt .. despite money falling off the tree - they are not in a good position and the job market is getting crushed. And then the money is going to stop falling off the tree .. after which the real Economic Tsunami will hit .. and the longer we stay locked down .. the bigger da wave gonna be.

 

This is only because Obama set him for success, obviously.

But the same people screaming "it could only go up!" will turn around and claim Obama created some humming economy.

 

It's great news, but clearly our Leftist friends are upset about this. Pelosi appeared particularly perturbed.

Party before country, as always...

 

Well tell Nana to get off her sorry ass and send to Trump to sign.. Even my lefty friend know she is the problem

 

WOW, I been saying that for 3+ years about the failed economy under the last President, THANK YOU Ronv!

 

Well no it would be like the 100 dollars goes down to 91 dollars or 9% and then comes back to 98.8 dollars or 7.8% increase in one quarter. You're complaining about that?

 

No clue what you are talking about. 33% GDP is the claim here .. 33% with respect to what about GDP. I was not suggesting that my example mirrored reality .. just making a point that 33% up is not necessarily a great thing.

but if you wish to get into the nitty gritty .. 33% increase over what .. and of what.