by Ace
A usual rate of growth for a good quarter (annualized) of growth is 3%.
The US economy grew by 33.1% in the third quarter.
U.S. GDP accelerated at a 33.1% annualized pace in the third quarter, the Commerce Department reported.
That was better than the 32% estimate from a Dow Jones economist survey.
A surge in business and residential investment along with stronger consumer activity helped the economy after its worst-ever quarter in Q2.
…The gain came after a 31.4% plunge in the second quarter and was better than the 32% estimate from economists surveyed by Dow Jones. The previous post-World War II record was the 16.7% burst in the first quarter of 1950.
Meanwhile, Democrats, and NeverTrump Traitors, are pushing Lockdowns Forever for a respiratory illness which, while bad, is only twice as deadly as the flu we get literally every fucking year.
Earlier in the campaign slow Joe was talking about a K shaped recovery, without understanding what he was saying. I think he was trying to say the rich get richer, the poor get poorer, which is stupid.
Well, the “K” means that the rich get richer and everyone else flatlines. Think of the K tipped over on to its back.
but what IS happening could be described as a K shaped recovery as applied to different regions. Leftist shitholes are headed even further down – states that are opening up and allowing growth are not only getting their own natural growth, but also the growth from all of the business in the shithole states that is moving.
Posted by: Tom Servo
Also: the shitholes’ primary industries seem to be arson and looting.
And you just can’t build a future on that.
Unbelievable: So, as I mentioned above, the 33.1% growth rate is annulalized. That means, the single quarter of growth is multiplied by four to tell you how much we grew if this same rate of growth continued for a year.
This is literally how GDP is always reported — taking the one quarter rate and multiplying by four to get an annualized figure.
When you read that a quarter’s growth rate was 3.2%, that’s the annualized figure. The actual number for the growth in just this quarter would be 0.8%.
But this is how it has always been reported.
Except now. Now the Washington Posts decides to, for the first time in history, report the GDP growth rate on a non-annualized basis, to make it look smaller.
Besides the National Debt, the only thing Obama and Biden were able to grow that much or more wase the number of Americans on food stamps.
This is what a “V” shaped recovery looks like.
And, in my adult life this is the very best growth rate.
All this in spite of Dem govs holding the economy back in their home states.
Even Disneyland is considering suing Gov Newsome for his extended lockdown and leaving California!
In all fairness, Obama/Biden has similar growth. Sometimes their growth, after the infusion of trillions of dollars, matched the .1% on this quarter’s 33.1%.
Democrats have no idea how an economy works, how wealth is created or earning a living. All they know to do is tax. Tax, tax, tax. They think the more they take away, the more people will work and earn to be available to be taken away. This is why Obama/Biden were incapable of generating a resounding recovery from the 2008 recession caused by liberal social engineering. Even though Trump’s thriving economy was not shut down by any outside force, but done so voluntarily and, theoretically, it only needs to be reopened to continue thriving, there can be no doubt that Biden would screw it up because the far left that is controlling him would MAKE him screw it up.
They are dumb, really dumb.
I was astounded that Biden keeps making a lie of a talking point that the Trump tax cut only helps “the rich,” until I saw this video:
Watch: Liberals Complain Trump Made Their Tax Returns Smaller, Then Reality Shows Up
So, dumb how do they get thru life at all?
@Nan G: Luckily for them, every so often Republicans come to office, revive the economy and provide enough leeway for Democrats to suck it dry and almost destroy it before Republicans rescue it again. Rinse, repeat.
Biden does nothing but lie. Every one of his ads and “rallies” are packed with lies. Obviously he has nothing and his one trick is to blame Trump for COVID19, which simply defies reason. But, liberals do love to hear lies that inspire hatred, so they resonate.
@Nan G: I think that people like greggie the rock must live in a nursing home where someone feeds him.