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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    The number of deaths being attributed to Covid's so called less lethal variant doesn't need fearmongering, it is scary as hell.
     
  2. kriman

    kriman Well-Known Member Past Donor

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    The GDP is not the measure I use at my house. I measure it by how well we are doing money wise. And right now, inflation is wiping out our monthly savings and eating into our reserve.
     
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  3. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    Its the measure politicians, and their backers in the media portray the economy either good or bad depending on who is in the WH (their party or the other party), and yes, people listen to them when trying to decide who to vote for, and the proof is in the social media where they parrot everything they hear in the media.

    You need a better job. Average wage increase was 4.7%, which makes the inflation barely noticeable,
     
    Last edited: Jan 27, 2022
  4. Quantum Nerd

    Quantum Nerd Well-Known Member

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    It's REAL GDP. How often does it have to be said? Are Trumpers just not listening or reading before they reply?
     
  5. Bullseye

    Bullseye Well-Known Member

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    , as
    Yep, as hard as he tried Biden could FUBAR the economic momentum he inherited from Trump.
     
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  6. yardmeat

    yardmeat Well-Known Member

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    How does that momentum differ from what was going on before Trump?
     
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  7. Bullseye

    Bullseye Well-Known Member

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    In 2016 the economy sputtered to a 1.6% gain. Some economists were talking recession. Trump got elected and optimism turned the tide.
     
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  8. kriman

    kriman Well-Known Member Past Donor

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    I am 84 and retired. Neither my SS nor my military retirement is keeping up with inflation. That is how Biden treats his veterans.
     
    Last edited: Jan 27, 2022
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  9. 61falcon

    61falcon Well-Known Member

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    Dirty Donalds last year in office was disastrous for both our economy and GDP.
     
  10. yardmeat

    yardmeat Well-Known Member

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    Are you talking about real GDP? We can talk about real GDP. And you do realize that growth pretty much always slows down before an election and bounces back afterward, regardless of who wins, right? The market hates uncertainty.
     
  11. yardmeat

    yardmeat Well-Known Member

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    But GDP IS eclipsing inflation.
     
  12. kriman

    kriman Well-Known Member Past Donor

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    I checked the list of presidents and could not find a "Dirty Donald".
     
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  13. kriman

    kriman Well-Known Member Past Donor

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    Exactly how does that help?
     
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  14. 61falcon

    61falcon Well-Known Member

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    As a veteran receiving a military pension you get to keep it, where as if you worked for a civilian employer it could be gone completely.
     
  15. yardmeat

    yardmeat Well-Known Member

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    It helps the overall economy. It means more overall jobs, etc.
     
  16. Bullseye

    Bullseye Well-Known Member

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    Did Social Security just get a 5.9% cost of living boost. Military retirement, too.
     
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  17. kriman

    kriman Well-Known Member Past Donor

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    I hate to be selfish, but exactly how did that help me?
     
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  18. yardmeat

    yardmeat Well-Known Member

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    It may not. Why should your self-interest be the goal of our economy?
     
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  19. kriman

    kriman Well-Known Member Past Donor

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    My bad. I thought individuals were important.
     
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  20. yardmeat

    yardmeat Well-Known Member

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    Yes . . . as are other individuals. That's why I'm more concerned about overall results for the country, not the special interest concerns of certain individuals alone. Why should we ignore all other individuals?
     
  21. kriman

    kriman Well-Known Member Past Donor

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    Why on earth would you believe that my situation is all that different from most other people? We buy the same groceries. Burn the same gasoline. Buy the same cars.
     
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  22. yardmeat

    yardmeat Well-Known Member

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    Because the math says it isn't. The math says that most people, overall, are experiencing ~7% inflation. You are claiming it is much higher . . . and refuse to provide any evidence to demonstrate this.
     
  23. Bluesguy

    Bluesguy Well-Known Member Donor

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    And the dollars they get now aren't worth as much as they were and the producer price increase is up 10%

    US Wholesale Price-Spike Worst in the Data, Even Services. But Further up the Producer Price Pipeline, Inflation Rages at 28%

    upload_2022-1-27_16-27-6.png
    https://wolfstreet.com/2021/12/14/u...r-price-pipeline-inflation-rages-at-20-to-28/


    . And YES GDP should be going through the roof after recession last year GDP is normal VERY HIGH after recessions. Trump got us going in the right direction
     
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  24. yardmeat

    yardmeat Well-Known Member

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    Real GDP accounts for inflation. So every time you are like "But what about inflation!" you are just proving that you haven't read the thread.

    Yet again, something only someone who can't/won't read a graph would say. Trump did nothing special.
     
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  25. kriman

    kriman Well-Known Member Past Donor

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    That is not what the math says. They calculate inflation by taking a selection of products and checking the prices. The problem with that, as I have mentioned numerous times, is that does not necessarily reflect what most of us spend money on. It is especially compounded by the shortages. I cannot always find the product they base inflation on. I then have to substitute a more expensive item. The fact that an item costs $5.49 does not help me, if I have to buy an item that cost $7.00 because the $5.49 item is temporarily out of stock. The $7.00 item adds to the increase in the GDP.
     

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