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U.S. GDP grew 33.1% in third quarter, fastest expansion ever

SugarDaddy1

SugarDaddy1

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The U.S. economy grew at the fastest pace ever recorded in the third quarter, expanding at an annualized pace of 33.1 percent, the U.S. Commerce Department said Thursday.

The third-quarter GDP gain was fueled by a record 40.7 percent increase in consumer spending. Business investment surged 20.3 percent during the quarter, reflecting a 70.1 percent jump in investment in equipment. The housing market is booming: residential investment grew at a rate of 59.3 percent.
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Source
 
Impossible.

The Lit financial/all things political wizard group insisted back in March that it couldn't be done because Trump and Covid and we were headed for the worst depression since Donny was elected.
 
HisArpy said:
Impossible.

The Lit financial/all things political wizard group insisted back in March that it couldn't be done because Trump and Covid and we were headed for the worst depression since Donny was elected.
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Yea, Orange Man Bad!!! End of world!! Democracy is lost!!!

Only the totalitarian god state under the singular iron fist of the DNC will bring prosperity back!!!

All sarcasm aside I love how (D)'s have gone with the " Now you better vote blue no matter who, to protect yourself from what blue will do to you if you don't elect them. :D" campaign message.
 
Adre said:
As I recall Trump promised 5% growth, said it would be easy. I don’t see 5 there once.
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In essence, you look at a chart that isn't current, and doesn't include the current 33.1% GDP growth for the quarter, and say "it's Trump's fault" the numbers aren't better?

Are you stupid or something?
 
HisArpy said:
In essence, you look at a chart that isn't current, and doesn't include the current 33.1% GDP growth for the quarter, and say "it's Trump's fault" the numbers aren't better?

Are you stupid or something?
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Wonder what the answer will be.
 
HisArpy said:
In essence, you look at a chart that isn't current, and doesn't include the current 33.1% GDP growth for the quarter, and say "it's Trump's fault" the numbers aren't better?

Are you stupid or something?
Click to expand...

The current quarter, given the second quarter, is rendered meaningless, you economic illiterate.
 
“Yet the recovery from the deepest recession since the Great Depression of the 1930s remains far from complete. The Commerce Department’s estimate Thursday of third-quarter growth regained only about two-thirds of the output that was lost early this year...”
 
 
Adre said:
“Yet the recovery from the deepest recession since the Great Depression of the 1930s remains far from complete. The Commerce Department’s estimate Thursday of third-quarter growth regained only about two-thirds of the output that was lost early this year...”
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You (D)'s better lock that economy down harder so you can keep pointing at the orange man :D
 
A thread started by an obviously poor schmuck who knows nothing about economics.

The 2nd Quarter GDP was horrendous with the GDP falling 31.4% on an annualized basis. That was over three times worse than the previous post WWII record 10% drop in the first quarter of 1958.

But, Trump knows his base is financially illiterate. They have no clue this Republican administration is burning through the United States' money like monkeys with flamethrowers.

https://www.jec.senate.gov/public/_...9705-caab2ddbacd2/third-quarter-gdp-final.pdf
 
StrictMiss said:
The 2nd Quarter GDP was horrendous with the GDP falling 31.4% on an annualized basis. That was over three times worse than the previous post WWII record 10% drop in the first quarter of 1958.

But, Trump knows his base is financially illiterate. They have no clue this Republican administration is burning through the United States' money like monkeys with flamethrowers.

https://www.jec.senate.gov/public/_...9705-caab2ddbacd2/third-quarter-gdp-final.pdf
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The Republican administration can't, the House of Reps spends, not POTUS.

StrictMiss said:
If you assholes just wore masks we wouldn't have to lock everything down.

https://www.marketwatch.com/story/r...-in-a-world-of-hurt-11603992607?mod=home-page
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You don't have to lock everything down.

You guys just do that to destroy your economy, so you can blame Orange Hitler for your behavior.
 
FescueFan said:
The Republican administration can't, the House of Reps spends, not POTUS.
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Genuine question from a learner in the intricacies and mysteries of USA Govt administration. If the above statement is a fact, and the Democrats control the House of Reps, How come any money at all was spent on the Wall?
 
magicalmoments said:
Genuine question from a learner in the intricacies and mysteries of USA Govt administration. If the above statement is a fact, and the Democrats control the House of Reps, How come any money at all was spent on the Wall?
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Combo of 2 political situations and needs.

1) Department of Homeland Security, the bureaucracy that runs US Customs, Immigration and Border Patrol, has some say so over how their budget is spent. It is largely (R) and supports Trump, Trump supports them. As with most offices/agencies of the executive branch.


2) Pelosi desperately needed to take the "open borders" narrative away from the (R)'s as fast as she possibly could. Aaaand they couldn't really do that if they wouldn't fund DHS/US Customs or fought them too much on trying to get them to not do their job.

So under the guise of working with CBP because fuck Orange Man, she gave them some of the funding they wanted.

TLDR: Partisan politics, part of a compromise so both sides got a little something but also get shit on the others shoes in the process.

There was a big media/shit slinging battle about this, Trump and Pelosi pointed fingers at each other over shutting the government down, AOC cried over an empty parking lot because Orange Hitler has concentration camps!!
https://1.bp.blogspot.com/-lz9MLe_c4eg/XRRr43K0y8I/AAAAAAAAPFc/0nuIHryulNs7MHT4Qt7fs2tAgxiJdEPjgCLcBGAs/s1600/AOC%2BScreen%2BShot%2B2019-06-27%2Bat%2B4.38.21%2Bpm.png

Seems like forever ago but it was just a couple years back.
 
Last edited:
Adre said:
The current quarter, given the second quarter, is rendered meaningless, you economic illiterate.
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But somehow the 2nd quarter taken all by itself and not including the pandemic IS meaningful?


You're a fuckwit who needs to just STFU before you hurt yourself worse than you already have.
 
BoyNextDoor said:
You do realize that having had the worst quarter immediately preceding this quarter has contextual meaning? Do you not?


In fact ... " it doesn’t make sense to think about Thursday’s report in isolation. The third quarter’s record-setting growth is effectively an echo of the second quarter’s equally unprecedented contraction, when business shutdowns and stay-at-home orders led gross domestic product to fall by 9%. Strong growth was inevitable as the economy began to reopen."
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So, as usual, you omit the context in your zeal to promote a lie that you KNOW is a lie at the time you make it?

it's like you're stupid or something.
 
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