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originally posted by: chris_stibrany
No wonder they want more lockdown . Cant have a strong local economy can you? a reply to: ketsuko
President Donald Trump will skate to a 2020 landslide if the booming economy remains on fire in 2020. That’s the consensus on Wall Street and according to several different election-prediction models.
Despite the impeachment and the nonstop negative media coverage of his presidency, Trump is galvanizing support in his base and is winning over Independent voters on the strength of his sizzling economy....
It's true that the 7.4 percent GDP rise from Q2 to Q3 is a record. But it also comes after a record contraction from Q1 to Q2, and a total loss of 10.3 percent throughout 2020, so it doesn't even come close to making up what was lost amid the pandemic. In fact, the 3.5 percent total GDP shrinkage during 2020 "means we are still down almost as much as we were during the height of the Great Recession," tweets Diane Swonk, chief economist at Grant Thornton.
originally posted by: spacedoubt
Pretty sure that is an ANNUALIZED number.
Meaning quarter 3 was approx 8 percent.
Which is still ok, but it’s more like a spike in this wobbly economy.
originally posted by: Ringsofsaturn777
All things considered its a miraculous achievment that we the economy is doing as well as it is.. but you know how some ppl are..
originally posted by: AugustusMasonicus
Okay, Pollyanna, keep thinking it's all unicorn farts and not at all unsustainable.
originally posted by: Ringsofsaturn777
What would you have done differently to minimize the damage?
originally posted by: AugustusMasonicus
originally posted by: JIMC5499
Damn! It's only at 26,500 right now. Let me see wasn't it at 18,000 about five years ago?
It was over 30,000 too, not sure what your point is.
originally posted by: AugustusMasonicus
That isn't the topic of the thread.
The points I am making are regarding how this 'recovery' isn't as good as portrayed and that there is more economic fallout to come as evidenced by the largest restaurant group in the United States closing locations. They aren't the only ones, there's many more businesses in much more dire straits.
originally posted by: LSU2018
Not that it matters, but it was 29,600. Not 30,000. Reelect Trump and we'll see 30,000 though.
originally posted by: Ringsofsaturn777
All things considered its a miraculous achievment that we the economy is doing as well as it is.. but you know how some ppl are..