GDP GREW 5.7% IN 2021,BEST YEAR SINCE 1984

Discussion in 'Political Opinions & Beliefs' started by 61falcon, Jan 27, 2022.

  1. 61falcon

    61falcon Well-Known Member

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    Our economy grew by 5.7% during calendar year 2021,the best full year rate of growth since 1984.The fourth quarter had growth of over 6%. The full article can be read on Drudge Report.
     
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  2. kriman

    kriman Well-Known Member Past Donor

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    It grew less than inflation. Marvelous.
     
  3. 61falcon

    61falcon Well-Known Member

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    Nice to see you appreciate good news.
     
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  4. Condor060

    Condor060 Banned Donor

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    While inflation increased 7% from December of 2020 to December of 2021. Its highest rate in over 40 years. And still rising
    Did you think this was a good thing? lol
     
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  5. 61falcon

    61falcon Well-Known Member

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    vERY GOOD!!!!!!
     
  6. Tipper101

    Tipper101 Well-Known Member

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    Yep, the Amazons of the country are doing quite well, fueled by consumer demand from a fake stock market bubble that’s going to pop.

    Everywhere else, small businesses are struggling, if not already folded. I thought big corporations getting richer while the little guy hurts was a bad thing to liberals?

    guess not.
     
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  7. 61falcon

    61falcon Well-Known Member

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    AMERICAN CORPORATIONS WERE PROFITEERING OFF OF OUR INFLATION AS MANY HAD RECORD PROFIT MARGINS DRIVING UP STOCK MARKET PRICES AND 401k'S.
     
  8. garyd

    garyd Well-Known Member

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    Yeah by selling cheap crap they made in China and selling it at huge mark ups while small businesses went bust here.
     
    Last edited: Jan 27, 2022
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  9. Collateral Damage

    Collateral Damage Well-Known Member

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    It is not a 'good thing' when inflation exceeds the supposed GDP growth. The harm inflation causes is a ripple that damages all sectors one way or another, and most harmful to the low/no income groups.

    If you only look at one aspect of something, you can find sunshine and roses. But that is what is called tunnel vision. Learn to have a wider view, it will be educational.
     
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  10. Lee S

    Lee S Moderator Staff Member Past Donor

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    Ahhh! The Zimbabwe model! Zimbabwe has incredible GDP growth because they simply print more money. They also have the motto, add another zero. The currency of Zimbabwe was not worth the cost of printing so they just added another zero to the basic Zim dollar and have the citizens exchange the old currency note for the new currency note, only its ten times bigger. Look! Everyone is now rich! Unfortunately, the Zimbabwe 100 trillion dollar note is worth less than $270 US dollars, and that value is only for collectors, not for actual transactions. But by adding a zero, the GDP increased 10 fold.

    The GDP is just a comparison of the value of goods and service produced by a country compared to the value of the money which buys the goods and services. If the value of the money decreases, it requires more dollars to buy the same goods and service it used to. People have to spend more dollars for basic needs and the GDP goes up, even though nothng positive has happened. This is just basic economics. If the value of the dollar decreases by 40% and a loaf of bread cost $15 or more, are you going to credit Biden with some sort of economic genius for having a 40% increase in the GDP? Of course not.
     
    Last edited: Jan 27, 2022
  11. garyd

    garyd Well-Known Member

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    What we are seeing us the hollowing out of the American economy. A process that first began with the Roosevelt national recover act. The whole point of which is to simplify the economy to the point the idiots that run our bureaucracy, can manage it with out making it obvious that they have no idea what they're doing within the first 15 seconds.

    It begins with the destruction of small businesses. Which is, in the end, the destruction of labor and the destruction of the Nuclear family. After the bureaucrars can't have Nana's and papas telling the grand kids about the good ole days when most everyone who wanted a house had one as they huddle under a leaky tent in the shadow of a delapidated sky scraper.
     
  12. Lee Atwater

    Lee Atwater Well-Known Member Past Donor

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    GDP is the value of the goods and services produced by the nation's economy less the value of the goods and services used up in production. Inflation effects both. From what I've read the acceleration in Q4 compared to Q3 was led by an upturn in exports as well as accelerations in inventory investment and consumer spending. One can argue that higher GDP can be driven by artificially low interest rates keeping the cost of borrowing low which causes inflation. More than anything GDP is reflecting a pickup in activity from depressed levels due to COVID. If anything Biden should get credit for the steps he's taken to get more people vaccinated, helping growth by having people feel safer to participate in the economy.
     
  13. Quantum Nerd

    Quantum Nerd Well-Known Member

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  14. 61falcon

    61falcon Well-Known Member

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    Despite the giant backups the shipping lines are profiting like never before. Rich Mitch and his wife's family making a killing.
     
  15. yardmeat

    yardmeat Well-Known Member

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    The GDP growth is a good thing. It grew even after accounting for inflation. Though it was a fairly predictable rise. Real GDP (that's GDP adjusting for inflation) is now catching back up to the trend it had been on before the 2020 fall. It's back on the same trajectory that it had been on since Q2 of 2009.
     
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  16. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    You have no idea what you are talking about. They did not have incredible growth, and they didn't just print money, they officially devalues their currency vs other currencies, Dollar, in the other hand, remains strong.
     
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  17. yardmeat

    yardmeat Well-Known Member

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    Real GDP metrics account for inflation.
     
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  18. yardmeat

    yardmeat Well-Known Member

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    . . . simply adding to the money supply does not increase GDP. And, again, real GDP metrics account for inflation.
     
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  19. ButterBalls

    ButterBalls Well-Known Member

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    Sad to see you don't recognize bad news :(
     
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  20. Quantum Nerd

    Quantum Nerd Well-Known Member

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    How did I already know before looking at the thread that the usual suspects would swamp the thread with "but inflation..." posts, before they even realized that the posted GDP growth numbers are REAL.
     
  21. ButterBalls

    ButterBalls Well-Known Member

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    Not in the hands of a consumer it doesn't! Clearly the damage inflation causes eludes you! The consumer dollar is buying less and that's a fact, so how in any logic is that a stronger dollar :)
     
  22. ButterBalls

    ButterBalls Well-Known Member

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    Because regardless of how hard it's ignored on the left it really is a THING.. But I understand leftist arithmatrick math and it makes me laugh that they think we don't ;)
     
    Last edited: Jan 27, 2022
  23. ButterBalls

    ButterBalls Well-Known Member

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    I believe it's above 9% in some states now..

    2021
    Jan thru Dec
    1.4
    1.7
    2.6
    4.2
    5.0
    5.4
    5.4
    5.3
    5.4
    6.2
    6.8
    7.0

    Up UP and AWAY!
     
    Last edited: Jan 27, 2022
  24. kriman

    kriman Well-Known Member Past Donor

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    The is the GDP based on the official inflation which is far from accurate.
     
    Last edited: Jan 27, 2022
  25. 61falcon

    61falcon Well-Known Member

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    It's value against other currencies including the Euro has increased.So now is the time for a European vacation.
     

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