U.S. Economy Grew At The Fastest Rate Since 1984 Last Year
GDP accelerated at a rate of 5.7% last year after its unprecedented Covid-induced decline in 2020.
www.forbes.com
U.S. Economy Grew At The Fastest Rate Since 1984 Last Year
- Thread starter Bushy23
- Start date
www.forbes.com
You need to do the maffs..........4% decline in 2020 due to lockdowns.......Triilions in stimulus.....not so impressiveU.S. Economy Grew At The Fastest Rate Since 1984 Last Year
GDP accelerated at a rate of 5.7% last year after its unprecedented Covid-induced decline in 2020.
When people fall for this propaganda without even thinking about it for 2 seconds it makes me alternately 
and 
and I just saw a story where a question was asked about a promise Biden made about payoffs for student loans. I didn't know that loans have been put on hold for making payments for almost 2 yrs. I know they lifted last fall the no pay rent holds. No wonder people had money to spend.
Somehow taking credit for the economy improving for ALLOWING PEOPLE TO RETURN TO THEIR JOBS is a bit like the rooster taking credit for making the sun rise.
You could just as well make the same observation every morning in small town America and claim the economy SURGED the next day when everyone went back to work.
At least with Obama's economy, the economy DID in fact collapse. What I BLAME him for is, what he did ensured it didn't bounce back quickly, but took something like six years to return to where it WAS. During the pandemic, people were COMPELLED to leave their jobs or lay off employees - or in some cases, get shut down entirely.
THIS situation may be worse, partly because the government keeps changing their minds about opening businesses up fully. Somewhere - people just said eff it, and gave up.
I'd be more impressed with a metric that shows, we're back where we were.
You could just as well make the same observation every morning in small town America and claim the economy SURGED the next day when everyone went back to work.
At least with Obama's economy, the economy DID in fact collapse. What I BLAME him for is, what he did ensured it didn't bounce back quickly, but took something like six years to return to where it WAS. During the pandemic, people were COMPELLED to leave their jobs or lay off employees - or in some cases, get shut down entirely.
THIS situation may be worse, partly because the government keeps changing their minds about opening businesses up fully. Somewhere - people just said eff it, and gave up.
I'd be more impressed with a metric that shows, we're back where we were.
They keep moving the goal posts on those and we've definitely had to make payments during periods where it was claimed we didn't have to.
My youngest son & his wife are both chefs. Her restaurant she worked at in Manhattan closed and may not have reopened fully. So did the one he worked at in Baltimore. The both survived on the stimulus money for a few months until they decided to go get other jobs to keep paying their bills.
Ahh..that explains why Biden's poll numbers on handling the economy are in the terlit.U.S. Economy Grew At The Fastest Rate Since 1984 Last Year
GDP accelerated at a rate of 5.7% last year after its unprecedented Covid-induced decline in 2020.
Oh...wait...
HemiHauler
Well-Known Member
Current equity market weakness is a direct result of the FOMC promising to ratchet back monetary support (quit buying bonds and tighten monetary policy) NOT high inflation.
The market knows that government largesse results in inflationary pressure and was priced in long ago. They current market signals are saying, “don’t quit what you’re doing — we love it!!”
22AcaciaAve
Well-Known Member
This is the same stupid argument that Obama supporters tried to make with the stock market rise during his terms. Hmm, the market was cut in half and then returned to it's previous level and suddenly Obama was a genius for doubling the market. Something it was going to do anyway. Never in the history of the United States has there been a market sell off that eventually did not reach it's original point and exceed it.
This is the same thing. Shut down the country for most of 2020 and then in 2021 when things start opening back up of course the economic growth is going to be huge. The increase in economic growth is simply a delta from one year to the next. When every other president was starting from regular economic numbers, the growth was always going to be small percentages. When you get to start from a near total shutdown and claim the numbers from that start point it makes a big difference. The economic numbers are rebounding to where they were, the delta just shows the increase coming from a near total shutdown point. It's a statistical slight of hand.
And if these numbers are so good and the economy is booming so well, why do we need to keep sending child credits to everyone? Shouldn't they be taking advantage of this great economy?
Now if he wants to take credit for the economy, does he also want to take the blame for the inflation numbers? The low poll numbers reflect the feelings of the working class who feel the inflation every time they go grocery shopping. And all those people who saw their minimum wage salaries increased? They actually are netting less now after paying their bills and buying what they need to survive. That's where the low poll numbers are coming from.
This is the same thing. Shut down the country for most of 2020 and then in 2021 when things start opening back up of course the economic growth is going to be huge. The increase in economic growth is simply a delta from one year to the next. When every other president was starting from regular economic numbers, the growth was always going to be small percentages. When you get to start from a near total shutdown and claim the numbers from that start point it makes a big difference. The economic numbers are rebounding to where they were, the delta just shows the increase coming from a near total shutdown point. It's a statistical slight of hand.
And if these numbers are so good and the economy is booming so well, why do we need to keep sending child credits to everyone? Shouldn't they be taking advantage of this great economy?
Now if he wants to take credit for the economy, does he also want to take the blame for the inflation numbers? The low poll numbers reflect the feelings of the working class who feel the inflation every time they go grocery shopping. And all those people who saw their minimum wage salaries increased? They actually are netting less now after paying their bills and buying what they need to survive. That's where the low poll numbers are coming from.