"33% Quarterly Growth Aint No Big Deal. Wanna see Who Can Do More Pushups?" Xi Buydin

[JimBowie1958]

This guy has so much audacity and zero respect for objective Truth.

He would be a disaster as President.

Biden dismisses record economic growth as not 'nearly enough' to dig out of 'deep' recession

Democratic presidential nominee Joe Biden dismissed the U.S. economy's record-shattering growth as not "nearly enough" to get the country out of a "deep hole" on Thursday.

www.foxnews.com

 

[Faun]

B

This guy has so much audacity and zero respect for objective Truth.

He would be a disaster as President.

Biden dismisses record economic growth as not 'nearly enough' to dig out of 'deep' recession

Democratic presidential nominee Joe Biden dismissed the U.S. economy's record-shattering growth as not "nearly enough" to get the country out of a "deep hole" on Thursday.

www.foxnews.com

Biden is right. GDP for the year so far is still -4.6%

 

[Mac1958]

Biden is right. GDP for the year do far is still -4.6%

... and the 33% figure is annualized. No use trying to explain that.

Whatever. Hopefully we've seen the worst.

 

[JimBowie1958]

Biden is right. GDP for the year do far is still -4.6%

... and the 33% figure is annualized. No use trying to explain that.

Whatever. Hopefully we've seen the worst.

 

[Mac1958]

Biden is right. GDP for the year do far is still -4.6%

... and the 33% figure is annualized. No use trying to explain that.

Whatever. Hopefully we've seen the worst.

View attachment 408406

View attachment 408407

Yes. "Seasonally adjusted at Annual Rates", bottom right of the top graphic. Annualized.

As I said, "no use trying to explain that". I no longer bother.

 

[JimBowie1958]

Yes. "Seasonally adjusted at Annual Rates", bottom right of the top graphic. Annualized.
As I said, "no use trying to explain that". I no longer bother.

Why do you presume that I dont know what annualized rates are, Creskin?

This is STILL RECORD SHATTERING GROWTH, which you deny like a snake oil salesman, but no one Buydin, lol.

We have completely recovered from the Q2 losses already and God Willing Next Q4 stats will be truly amazing built on top of this Q3 gains!

ROFLMAO

 

[Faun]

Yes. "Seasonally adjusted at Annual Rates", bottom right of the top graphic. Annualized.
As I said, "no use trying to explain that". I no longer bother.

Why do you presume that I dont know what annualized rates are, Creskin?

This is STILL RECORD SHATTERING GROWTH, which you deny like a snake oil salesman, but no one Buydin, lol.

We have completely recovered from the Q2 losses already and God Willing Next Q4 stats will be truly amazing built on top of this Q3 gains!

ROFLMAO

We have not recovered though. GDP is still lower than it was 2 years ago, no less last quarter. And the year for the first 3 quarters of 2020 is still negative and will likely end up negative for the year.

 

[RoshawnMarkwees]

I think trump could even do more pushups because Biden would keep losing count at 3.

 

[Mac1958]

Yes. "Seasonally adjusted at Annual Rates", bottom right of the top graphic. Annualized.
As I said, "no use trying to explain that". I no longer bother.

Why do you presume that I dont know what annualized rates are, Creskin?

This is STILL RECORD SHATTERING GROWTH, which you deny like a snake oil salesman, but no one Buydin, lol.

We have completely recovered from the Q2 losses already and God Willing Next Q4 stats will be truly amazing built on top of this Q3 gains!

ROFLMAO

So you don't deny it. Good.

Woo Hoo.

Trumpsters. Arrogant ignorance.

 

[Mac1958]

Yes. "Seasonally adjusted at Annual Rates", bottom right of the top graphic. Annualized.
As I said, "no use trying to explain that". I no longer bother.

Why do you presume that I dont know what annualized rates are, Creskin?

This is STILL RECORD SHATTERING GROWTH, which you deny like a snake oil salesman, but no one Buydin, lol.

We have completely recovered from the Q2 losses already and God Willing Next Q4 stats will be truly amazing built on top of this Q3 gains!

ROFLMAO

We have not recovered though. GDP is still lower than it was 2 years ago, no less last quarter. And the year for the first 3 quarters of 2020 is still negative and will likely end up negative for the year.

It doesn't matter to them. Look at that post. They run on pure emotion.

 

[NoNukes]

Interesting article in today’s New York Times.

October 26, 2020
Author Headshot
By David Leonhardt
Good morning.
The Trump economy
President Trump is not running a re-election campaign based mostly on policy. He has released no agenda for a second term, and the Republican Party did not publish a new platform at its convention.
But when Trump tells voters why he deserves to win re-election, he tends to focus on the economy. He created a prosperous economy, he says, and will do so again — better than Joe Biden would — once the coronavirus passes. I want to devote today’s newsletter to explaining the Trump economy, through four key points:
1. The economy was strong before the virus hit. Trump inherited a growing economy, and it kept growing on his watch. It accelerated a bit in his first two years in office, before slowing down again in 2019.
By The New York Times | Source: Federal Reserve Bank of St. Louis
2. Perhaps the best news: Wages were rising, even for lower-income workers. After more than a decade of economic growth, the labor market had become tight enough that employers were increasing pay more quickly than inflation was rising. The trend began under President Barack Obama and continued under Trump.
By The New York Times | Source: U.S. Bureau of Labor Statistics
3. Trump deserves some credit. Josh Barro of New York magazine has argued that Trump’s overall economic record is problematic, partly because his tax cuts were so skewed to the rich — but also that Trump got some big decisions right. Most important, he appointed a Federal Reserve chairman, Jerome Powell, who focused on growth (rather than wrongly thinking inflation was a threat) and kept interest rates low.
4. But Trump also deserves some blame — including for the virus and the recession it caused. Trump’s economic policy geared almost completely toward lifting growth in the short term, while largely ignoring long-term dangers.
He increased the deficit, mostly to give wealthy households big tax cuts. He scrapped environment regulations, which increases the likelihood of costly climate destruction. And he hollowed out parts of the government, including its ability to respond to a pandemic.
(One year ago yesterday, Biden tweeted: “We are not prepared for a pandemic. Trump has rolled back progress President Obama and I made to strengthen global health security.”)
The bottom line: Much of the economy’s performance is beyond the control of a president. Trump had the good luck to take office with a far stronger economy than either of his predecessors — Obama and George W. Bush — enjoyed. Just look at the start of each president’s lines in this chart on job growth:
By The New York Times | Source: Federal Reserve Bank of St. Louis
Later, of course, Trump had the bad luck to have a global pandemic arrive during his re-election campaign.
He has tried to claim full credit for his good luck and deflect all blame for the bad news. But that’s not the fairest way to evaluate the Trump economy. Ultimately, he deserves solid marks for its performance during his first three years — and much worse marks for his long-term economic legacy.
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Interesting article in today’s New York Times.

October 26, 2020
Author Headshot
By David Leonhardt
Good morning.
The Trump economy
President Trump is not running a re-election campaign based mostly on policy. He has released no agenda for a second term, and the Republican Party did not publish a new platform at its convention.
But when Trump tells voters why he deserves to win re-election, he tends to focus on the economy. He created a prosperous economy, he says, and will do so again — better than Joe Biden would — once the coronavirus passes. I want to devote today’s newsletter to explaining the Trump economy, through four key points:
1. The economy was strong before the virus hit. Trump inherited a growing economy, and it kept growing on his watch. It accelerated a bit in his first two years in office, before slowing down again in 2019.
By The New York Times | Source: Federal Reserve Bank of St. Louis
2. Perhaps the best news: Wages were rising, even for lower-income workers. After more than a decade of economic growth, the labor market had become tight enough that employers were increasing pay more quickly than inflation was rising. The trend began under President Barack Obama and continued under Trump.
By The New York Times | Source: U.S. Bureau of Labor Statistics
3. Trump deserves some credit. Josh Barro of New York magazine has argued that Trump’s overall economic record is problematic, partly because his tax cuts were so skewed to the rich — but also that Trump got some big decisions right. Most important, he appointed a Federal Reserve chairman, Jerome Powell, who focused on growth (rather than wrongly thinking inflation was a threat) and kept interest rates low.
4. But Trump also deserves some blame — including for the virus and the recession it caused. Trump’s economic policy geared almost completely toward lifting growth in the short term, while largely ignoring long-term dangers.
He increased the deficit, mostly to give wealthy households big tax cuts. He scrapped environment regulations, which increases the likelihood of costly climate destruction. And he hollowed out parts of the government, including its ability to respond to a pandemic.
(One year ago yesterday, Biden tweeted: “We are not prepared for a pandemic. Trump has rolled back progress President Obama and I made to strengthen global health security.”)
The bottom line: Much of the economy’s performance is beyond the control of a president. Trump had the good luck to take office with a far stronger economy than either of his predecessors — Obama and George W. Bush — enjoyed. Just look at the start of each president’s lines in this chart on job growth:
By The New York Times | Source: Federal Reserve Bank of St. Louis
Later, of course, Trump had the bad luck to have a global pandemic arrive during his re-election campaign.
He has tried to claim full credit for his good luck and deflect all blame for the bad news. But that’s not the fairest way to evaluate the Trump economy. Ultimately, he deserves solid marks for its performance during his first three years — and much worse marks for his long-term economic legacy.​

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[Mac1958]

Interesting article in today’s New York Times.

Powell was definitely a good pick by Trump. Now that the Federal Reserve has been elevated to the point at which it's as important to the economy as the consumer (welcome to Capitalism 2.0, kids), Powell is a solid, steady hand who doesn't get out in front of his skis like Yellen constantly did.

The hyperactive Fed has kept the economy afloat. Not sure yet whether that's good or not. We'll see.

 

[my2¢]

The Q3 GDP increased by $1.64 trillion. I wonder where the rest of that $2 trillion COVID-19 stimulus went to?

Statistics are easy to play with and when used in politics are meaningless in themselves. For example, since becoming president the Dow under Trump has increased by 39.9%. Under a similar point in the Obama/Biden years it was up 58.3%. One could say there's been a decrease of 31.6% in the rate of return under Trump.