U.S. grew 2.9% in third quarter, GDP shows, and there’s little sign of recession for now

Discussion in 'Current Events' started by Egoboy, Dec 1, 2022.

  1. Independent4ever

    Independent4ever Well-Known Member

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    Abortion was a factor, but so was Trump's involvement.

    No abortion issue and Trump fading away and there would have been a much bigger red wave
     
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  2. Bill Carson

    Bill Carson Banned

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    You may as well stay out of this conversation because all I'm seeing is a bunch of bullshit propaganda that has been brain-washed into the masses (not referring to your post, however).

    Bullshit like - inflation is good.
    Bullshit like - the GDP means everything. FFS, if the government prints a billion dollars, that increases GDP by the exact same amount. If your Chinese made (everything) imports can't be unloaded at Cali ports because the US government transportation Secretary Pete is off on maternity leave play breast feeding....the GDP goes up.

    Print a ton of money; bottleneck the supply chain from China = inflation through the roof AND GDP will rise. It's literally in the ****ing metrics of GDP calculation.
     
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  3. Arkanis

    Arkanis Well-Known Member

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    The Conservatives have been saying that for two years.
     
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  4. The Ant

    The Ant Well-Known Member

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    Didn’t have to wait too long...
     
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  5. Quantum Nerd

    Quantum Nerd Well-Known Member

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    You know that the 2.9% number is REAL GDP? Meaning that it is calculated AFTER inflation?

    BTW: Cite just ONE person that said "inflation is good". I doubt you can find one.
     
    Last edited: Dec 1, 2022
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  6. yangforward

    yangforward Well-Known Member Past Donor

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    1. If a man marries his housekeeper the GDP goes down.
    2. Divorces increase the GDP
    3. Upaid work, which various estimates place at anywhere between 20% and 50% of the total amount of work, does not count in GDP.

    I'm still thinking about 3., in England they did a simple 2 minute ECG as part of the medical which cost nothing.
    Here the same ECG was charged at over 400 dollars.

    So the amazing inefficiency of the US medical system artificially puffs up the GDP.
     
  7. HockeyDad

    HockeyDad Well-Known Member Past Donor

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    I can and so can you..... DISINFORMATION is a thing and the MSM does nothing but engage it.

    Now if you are an ordinary American, you know it is horrific. If you hate the American people and want to punish them, you tell them that things that harm them are good.
    upload_2022-12-1_20-24-32.png
    upload_2022-12-1_20-22-16.png
    upload_2022-12-1_20-22-50.png
     
    Last edited: Dec 1, 2022
  8. yangforward

    yangforward Well-Known Member Past Donor

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    I'm guessing here if you poison the water supply in Flint, and that increases hospital admissions, that would increase the GDP.

    Isn't that great!
     
  9. Bill Carson

    Bill Carson Banned

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    Obviously you don't know what inputs are used in calculating GDP because inflation damn sure isn't one of them.
     
  10. Independent4ever

    Independent4ever Well-Known Member

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    Not defending the economy and where it is going, but I am not sure that you are correct

    What Real Gross Domestic Product (Real GDP) Is, How to Calculate It, vs Nominal (investopedia.com)

    Real gross domestic product (GDP) is an inflation-adjusted measure that reflects the value of all goods and services produced by an economy in a given year. Real GDP is expressed in base-year prices. It is often referred to as constant-price GDP, inflation-corrected GDP, or constant dollar GDP. Put simply, real GDP measures the total economic output of a country and is adjusted for changes in price.
     
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  11. Egoboy

    Egoboy Well-Known Member Donor

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    Nope... Post #5.... about the usual place I'd expect the first voice of DOOM to roll in...

    I'm always hopeful I can get the entire first page of optimists (or at least realists) on decent news threads, but I get MAGA's who have had too much negativity pounded into them....
     
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  12. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    Real GDP is adjusted for inflation

    Understanding Real GDP
    Real GDP is a macroeconomic statistic that measures the value of the goods and services produced by an economy in a specific period, adjusted for inflation. Essentially, it measures a country's total economic output, adjusted for price changes
    https://www.investopedia.com/terms/r/realgdp.asp#:~:text=Real GDP is a macroeconomic,output, adjusted for price changes.
     
    Last edited: Dec 1, 2022
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  13. Woogs

    Woogs Well-Known Member

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    It would be REAL GDP if they used the REAL INFLATION RATE in their calculation. Shadow Stats pegs the real inflation rate at around 15%, which is about double the "official" inflation rate. So, this 2.9% 'growth' would be no growth at all, and actually a reduction in GDP if the real inflation rate was used.

    * Shadow Stats inflation rate is arrived at by using the same metric the government used in the past. Looking at Shadow Stats today, the graphs compare the "official" inflation rate and the rates if the metric from either 1980 or 1990 were used. In both cases, the rate would be in the 15% range. In that scenario, this latest GDP "growth" disappears and we have negative growth; iow.... a recession.
     
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  14. fullmetaljack

    fullmetaljack Well-Known Member

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    So, basically, despite some good economic news, the Republicans, conservatives, Trump supporters and Biden haters are praying for economic disaster and recession because what is bad for the US economy is good for their candidates and grab for political power.

    Spectacularly partisan and completely disgusting.
     
  15. Independent4ever

    Independent4ever Well-Known Member

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    I agree that that is the case, but if Trump was President right now, some on the left would also be doing that
     
  16. DEFinning

    DEFinning Well-Known Member Donor

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    Predictions of where the stock market averages will end next year? How could you (or anyone) take something like that, seriously? I like the way they phrased it, though: "at about the same point it started at in 2023." But I'll bet no one specified, for any of the averages, what that point, will be. This is because they feel safe making a guess that far into the future, since few will remember it, in 13 months, and then take the trouble to look back twelve months, to check their accuracy. IOW, these "experts" want you to believe they could have any clue, as to where the averages will stand, at the end of next year, when probably not a one of them has gone out on a limb, to predict the closing numbers, even for this year!
     
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  17. DEFinning

    DEFinning Well-Known Member Donor

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    You mean Biden has had almost a full two years, and he still hasn't made things cheaper than they were, when he took office?
    Unforgivable!
     
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  18. yangforward

    yangforward Well-Known Member Past Donor

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    Biden has made a lot of progress in just two years.

    He closed down the very slow war in Afghanistan and started a ver active one in Ukraine that has received over 100 billion dollars in weapons so far, and a huge quantity of cash.

    He opened the Southern border right up which has done wonders for the sagging crime rate.

    He had trillions of dollars printed for no good reason which has brought the inflation rate up to figures that haven't been seen since the oil crisis.

    Abandoned our allies in Afghanistan and has now led them up the garden path with his crazy sanctions.

    On the plus side he has managed to get Russia and China to start working together as a team at last.
     
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  19. DEFinning

    DEFinning Well-Known Member Donor

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    Your explanation is flawed. The reason that "hyperliberals"-- whoever they are-- weren't "flushed out of Congress," is, primarily, because any hyperliberals must represent hyperliberal districts or states.

    Where abortion would most have foiled a conservative, Republican candidate, would not have been in a "hyperliberal" district (see link); so perhaps it would be more productive, for me to point to your problem of using non-standard terminology. While most people have no qualms with identifying where they stand, on the political spectrum, I doubt that little more than a handful, would consider themselves to be "hyper-liberal." Could you define that term, to clearly differentiate it from merely run of the mill liberals? How much overlap is there, between "radical" liberals, and the hyper variety?


    https://www.google.com/amp/s/thehil...6475-squad-members-cruise-to-re-election/amp/

     
    Last edited: Dec 1, 2022
  20. Bill Carson

    Bill Carson Banned

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    Exactly. 'Real' GDP is just more propaganda.

    Nevertheless, GDP still increases for every dollar printed and every dollar spent by the government. They actually double count it. So GDP is a :icon_shithappens: metric.
     
    Last edited: Dec 1, 2022
  21. Moolk

    Moolk Banned

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    Americans are resilient, able to find a modicum of success even with horrendous dem leadership. Good on you America.
     
    Last edited: Dec 2, 2022
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  22. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    Yea man, the 'alternate GPI' published by 'Shadow Government Statistics' is so much more reliable :rolleyes:

    We know you want things to look worse, but Shadow Government Statistics.........sheesh
     
    Last edited: Dec 2, 2022
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  23. Quantum Nerd

    Quantum Nerd Well-Known Member

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    Was REAL GDP propaganda from 2017-2020? Was the officially-reported unemployment rate propaganda from 2017 to 2020? I bet you think it wasn't, because those measures were used by Trump supporters to rave about the magical Trump economy.

    Of course, we all knew that they would go back to LFPR as the "actual" measure of unemployment, the moment a Dem was elected into office. It totally fits in with their idea that REAL GDP is not real -- when a Dem is in office. You do you and go with your Russian propaganda.
     
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  24. Moolk

    Moolk Banned

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    Russian propaganda is a leftist thing.
     
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  25. independentthinker

    independentthinker Banned

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    LOL. So, we're back to the "inflation is transitory" meme, are we?
     
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