Record Drop In GDP In The Midst Of RNC "Defund Stimulus" Movement! Protesters May Get Dispatched To Washington, D. C.(?)

[mascale]

The record drop is only one percent below an expected 34% record drop.

Second-quarter GDP plunged by worst-ever 32.9% amid virus-induced shutdown

U.S. gross domestic product for the second quarter was expected to drop 34.7%, according to economists surveyed by Dow Jones.

www.cnbc.com

Prices dropped, but so did everything else.

No Apparent "Antifa" response nationwide, noted. The RNC exists. "Antifa" does not exist! Cause and Effect is clearly shown. It wasn't "Antifa!"

"Crow, James Crow: Shaken, Not Stirred!
(Better to not do the math for awhile, but only Deut 23: 19-20! Stimulus One monies only barely sent, even!)

 

[rightwinger]

Massive drop, given the current infection rate, it does not look like it will reverse soon

 

[rightwinger]

With negative 33 percent GDP, how can you end unemployment for those forced out of the workforce?

 

[Polishprince]

Massive drop, given the current infection rate, it does not look like it will reverse soon

If Biden wins, and keeps the social distancing and shutdowns going, what do you think that means for the GDP in 2021?

 

[Polishprince]

With negative 33 percent GDP, how can you end unemployment for those forced out of the workforce?

How does Biden's Economy Shutdown program help out this situation?

 

[Remodeling Maidiac]

The record drop is only one percent below an expected 34% record drop.

Second-quarter GDP plunged by worst-ever 32.9% amid virus-induced shutdown

U.S. gross domestic product for the second quarter was expected to drop 34.7%, according to economists surveyed by Dow Jones.

www.cnbc.com

Prices dropped, but so did everything else.

No Apparent "Antifa" response nationwide, noted. The RNC exists. "Antifa" does not exist! Cause and Effect is clearly shown. It wasn't "Antifa!"

"Crow, James Crow: Shaken, Not Stirred!
(Better to not do the math for awhile, but only Deut 23: 19-20! Stimulus One monies only barely sent, even!)

You outdumb yourself regularly. Congrats

 

[mascale]

Stimulus One provided excess of spending power to people, lower income, with the highest marginal propensity to spend, (people who need stuff right away!). That is in the context of the recently announced Biden plan. Then RNC kept upwards of 75% of the Stimulus money from being spent.

RNC doesn't even work well for the economy, 2020.

"Crow, James Crow: Shaken, Not Stirred!
(There are actually prayers for Matthew 25: 14-30!)

 

[CarlinAnnArbor]

Stimulus One provided excess of spending power to people, lower income, with the highest marginal propensity to spend, (people who need stuff right away!). That is in the context of the recently announced Biden plan. Then RNC kept upwards of 75% of the Stimulus money from being spent.

RNC doesn't even work well for the economy, 2020.

"Crow, James Crow: Shaken, Not Stirred!
(There are actually prayers for Matthew 25: 14-30!)

If your leftist governors would allow people to follow the Swedish model and go back to work, that would fix the GDP.

Printing money we dont have and giving it to people is a recipe for disaster

 

[mascale]

One half of one percent is shown inconsequential--deliberately in the context of the record. GrandpaMurkedU posters appears to contend that, "It's a wonderful report!"

Clearly Illiterate is the is the GradpaMurkedU context failure to note that revisions will be coming up soon, even! The estimate in the report is fairly spot right on!

"Crow, James Crow: Shaken, Not Stirred!"
(Illiterate is Deut 23: 19-30, of some description of Pharaoh's economy of subjugation--not a deity!)

 

[mascale]

Illiteracy further becomes Death Angel poster: Failing to note that governors all over are in remorse, households USA in mourning!

Noting further that "Antifa" doesn't even exist--except at the federal, illiterate level!

"Crow, James Crow: Shaken, Not Stirred!"
(Matt 25: 14-30, exists even!)

 

[georgephillip]

The record drop is only one percent below an expected 34% record drop.

Second-quarter GDP plunged by worst-ever 32.9% amid virus-induced shutdown

U.S. gross domestic product for the second quarter was expected to drop 34.7%, according to economists surveyed by Dow Jones.

www.cnbc.com

Prices dropped, but so did everything else.

No Apparent "Antifa" response nationwide, noted. The RNC exists. "Antifa" does not exist! Cause and Effect is clearly shown. It wasn't "Antifa!"

"Crow, James Crow: Shaken, Not Stirred!
(Better to not do the math for awhile, but only Deut 23: 19-20! Stimulus One monies only barely sent, even!)

Your link:

"Historical perspective

"'Bottom line, the numbers of course are alarming but all self inflicted with about half the quarter reflecting almost full shutdown and the other half the slow reopening,' said Peter Boockvar, chief investment officer at the Bleakley Advisory Group. 'That said, it does reflect the hole out of which we now need to climb out of as we rebound in Q3 and Q4.'

"Not the Great Depression nor the Great Recession nor any of the more than three dozen economic slumps over the past two centuries have ever caused such a sharp drain over so short a period of time."

 

[mascale]

So the one up measure in the report is an increase of Personal Income. That is attributed to the plagiarized Obama-Biden stimulus after the RNC caused. "Great Recession." Obama-Biden had provided a Refundable, equal amount, Tax Credit, "Cash for Clunkers," and other spending. Stimulus One provided equal amount deposits, $1200.00. An excess $600 per week was provided for unemployment relief. That was insufficient to create a spending effect. Services spending dropped.
__________________________
However, personal income soared, thanks in large part to government transfer payments associated with the coronavorus pandemic. Current-dollar personal income rose more than six-fold to $1.39 trillion, while disposable personal income shot up 42.1% to $1.53 trillion.

Despite the rise, personal outlays tumbled by $1.57 trillion, due in large part to a drop in services spending.
_______________________
GOP separately is shown to be withholding 75% of the Stimulus already set to go, however. GOP mismanagement is legendary, going back to Herbert Hoover--and Coolidge.

It is a global pandemic, and there is blame sufficient to go around at RNC, top to bottom!

"Crow, James Crow: Shaken, Not Stirred!"
(Deut 25: 19-20, is not about foreign aid!)

 

[CarlinAnnArbor]

Illiteracy further becomes Death Angel poster: Failing to note that governors all over are in remorse, households USA in mourning!

Not illiterate, but I cannot decipher your gibberish

 

[mascale]

Illiterate Death Angel poster--clearly not posting a consistent message; Finds the CNBC report unintelligible, in his Illiteracy, even.
_________________________
However, personal income soared, thanks in large part to government transfer payments associated with the coronavorus pandemic. Current-dollar personal income rose more than six-fold to $1.39 trillion, while disposable personal income shot up 42.1% to $1.53 trillion.

Despite the rise, personal outlays tumbled by $1.57 trillion, due in large part to a drop in services spending.
_______________________

In recent days, RNC even wants to reverse the basis for hope in GDP report--the increase of Personal and Disposable income from the Obama-Biden-like Stimulus. Put in place were mainly the equal amount deposits and the equal amount unemployment relief--$600.00 per week.

Famously in recent days the RNC was the inadequate wage levels restored, instead.

No forward-moving advance of the income and spending levels is proposed. Pre-collapse levels are now being proposed--only $200.00 per week, not the $600.

And then tongue-in-assholes, they further proposed a temporary extension of the $600 per week relief levels!

"Crow, James Crow: Shaken, Not Stirred!"
(From Pastors and Popes--nothing at all is proposed, (Deut 23: 19-20--needing remedy)!)

 

[CarlinAnnArbor]

Illiterate Death Angel poster--clearly not posting a consistent message; Finds the CNBC report unintelligible, in his Illiteracy, even

No I find your gibberish unintelligible.

You is a loon

 

[Baz Ares]

The record drop is only one percent below an expected 34% record drop.

Second-quarter GDP plunged by worst-ever 32.9% amid virus-induced shutdown

U.S. gross domestic product for the second quarter was expected to drop 34.7%, according to economists surveyed by Dow Jones.

www.cnbc.com

Prices dropped, but so did everything else.

No Apparent "Antifa" response nationwide, noted. The RNC exists. "Antifa" does not exist! Cause and Effect is clearly shown. It wasn't "Antifa!"

"Crow, James Crow: Shaken, Not Stirred!
(Better to not do the math for awhile, but only Deut 23: 19-20! Stimulus One monies only barely sent, even!)

Hmm? Let's see.

 

[mascale]

The source material is Bureau of Economics Analysis. Some fake website collecting fraudulent subscription money--Illiterate Death Angel may have signed up(?): Is likely not a reliable source about much of anything. I myself on follow the morning briefings. The Baz Ares "bogus post" is on the internet--so noted! The misleading part is cited as not reflecting the current volatility. BEA has the official report, cited even by the Times in Los Angeles! 32.9% with the bright spot being all the Stimulus money!
______________________________________
GDP swings are typically reported at an annual rate — as if they were to continue for a full year — which can be misleading in a volatile period like this. The overall economy in the second quarter was 9.5% smaller than during the same period a year ago.
______________________________________

Gross Domestic Product, 2nd Quarter 2020 (Advance Estimate) and Annual Update | U.S. Bureau of Economic Analysis (BEA)

Real gross domestic product (GDP) decreased at an annual rate of 32.9 percent in the second quarter of 2020 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP decreased 5.0 percent. The GDP estimate released today is based...

www.bea.gov

The excess of Stimulus Money follows the historical pattern of mega-deficits, never repaid. New Public Works, aka, "The Military Industrial Complex," create higher paid, tech work--as well as heavy construction work--at pay levels advanced over the levels creating the initial downturn.

This stimulus created the excess of paid benefits. The lower incomes unemployed got more money than the levels of pay creating the initial downturn. The GOP as usual--Herbert Hoover, Senator Joe McCarthy, Reagan Deficits--appears to have effectively sequestered the usual Stimulus Spending for newer high tech level jobs. 75% of the Stimulus has yet to be funded.

"Crow, James Crow: Shaken, Not Stirred!"
(Matthew 20: 1-16, is inclusive of pay even for the labor that worked all the day, and only one hour! What excess happened is more than the day before--having already been paid. There was no US Federal Reserve, there being Imperial Armies instead--not much needing high-tech(?)!"

 

[KissMy]

The Entire Explosion of Subprime Lending was caused in 2003 by & when Bush & Republicans forced taxpayers to make down payments for those who never saved any & could not qualify for a HUD loan. They also allowed sellers to increase house price to donate the down payments to buyers so they would qualify for Gov Backed Loan.

In 2003 Bush caused Subprime Lending Explosion from 2.5% of all home loans to 15% by 2005. Prior to 2003 the subprime borrowers had be responsible and save up 20% for down payment. After Bush's American Dream Downpayment they only had to sign a paper to get a free house!!!

 

[KissMy]

Worse than Great Depression!

 

[SassyIrishLass]

The Entire Explosion of Subprime Lending was caused in 2003 by & when Bush & Republicans forced taxpayers to make down payments for those who never saved any & could not qualify for a HUD loan. They also allowed sellers to increase house price to donate the down payments to buyers so they would qualify for Gov Backed Loan.

In 2003 Bush caused Subprime Lending Explosion from 2.5% of all home loans to 15% by 2005. Prior to 2003 the subprime borrowers had be responsible and save up 20% for down payment. After Bush's American Dream Downpayment they only had to sign a paper to get a free house!!!

Dumbass that was under Clinton, Bush warned against it.

Good grief