US economy grows 5.2% in third quarter; higher interest rates eroding momentum

Ironic post and you still can't list anything to dispute what I posted. List away...post #42 is very clear. See post #53 as well, it adds more clarity.

 

What Caused the 2020 Recession?
On March 13, 2020, President Donald Trump declared a national emergency in response to the COVID-19 pandemic.

...
Aspects of the 2020 Recession
The 2020 recession was the worst recession since the Great Depression. In April 2020, it was already worse than the 2008 recession in its initial ferocity. In November 2020, stock markets recovered, and jobs were added back into the economy.

...
Note
The 2020 decline happened in just three months instead of the four years it took during the Depression.

The economy grew 33.4% in the third quarter, but it was not enough to make up for earlier losses. In the fourth quarter, it grew just 4%.1
The Federal Reserve predicts that growth will improve to a robust 4.2% in 2021 once a vaccine has been widely distributed.8 On the other hand, the Congressional Budget Office (CBO) predicts that the effects will linger until the fourth quarter of 2021, with slightly lower economic output and higher unemployment.9
https://www.thebalancemoney.com/recession-2020-4846657

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The poster was correct. trump induced the USA recession.
Bush, before him, induced the housing boom/bust recession.

 

You told me to look at p42 and all I see is you derailing to Trump, Obama and no other substance then that.. Did you read post 1?

 

Careful.
Facts are not the friend of MAGA.
Fake news and conspiracy theories is what they prefer.

 

False your post ignores facts. He had a better economy than we have now, by far. You simply ignore context.

 

Growth? OK, how about wages? Are conflating gdp with wage?

Clearly, if wages stay stagnet, then just how is this good for the consumer?

 

So, you are not providing a list to debunk my accurate and factual post but instead are reaching for a projection strawman when you are unable to counter what was clearly stated? Ironic that you would try to accuse me of trying to derail this thread. That's funny.....very funny.

 

Irony^ is alive and well!

 

I provided a link explaining the pitfall of GDP without wage increases.. You're post addresses nothing other than Obama an tRump..

Now your attacking me for addressing the topic..

 

Nothing ironic about the truth that I am telling.

 

Wait, we've heard over and over from MAGA, one can't count jobs added that were lost to the covid unemployment situation.
I guess that's only true when talking about jobs Biden added? And now has surpassed trumps job loss recession.

...
Presidents Who Created the Most Jobs
President Bill Clinton created the greatest total number of jobs during his two terms. He added 18.6 million, a 15.6% increase.

President Franklin D. Roosevelt created the most, percentage-wise, with a 33.8% increase.
https://www.thebalancemoney.com/job-creation-by-president-by-number-and-percent-3863218

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Our rating: True
We rate this claim TRUE, based on our research. More jobs were lost during the Trump administration than any other in history. Approximately 4 million fewer people were employed from January 2017 to September 2020, according to the most recent publicly available data.
https://www.usatoday.com/story/news...ted-presidential-job-growth-chart/6177339002/

...
Summary
The statistics for the entirety of Donald Trump’s time in office are nearly all compiled. As we did for his predecessor four years ago, we present a final look at the numbers.

• The economy lost 2.9 million jobs. The unemployment rate increased by 1.6 percentage points to 6.3%.

https://www.factcheck.org/2021/10/trumps-final-numbers/

...
Summary

Since President Joe Biden took office:

• The economy added 13.9 million jobs, putting the total 4.5 million higher than before the pandemic.

• The unemployment rate dropped for a time to the lowest in nearly 54 years; unfilled job openings surged, with 3 jobs for every 2 unemployed job seekers.

https://www.factcheck.org/2023/10/bidens-numbers-october-2023-update/

...
It obvious, Biden far outweighs trump with jobs.

 

You're wasting your time.

 

I don't think 'facts' are so damaging to Trum[p, Covid screwed the world u[, not just America. We were all there at the time and watched things fall apart. some of us remember that the financial problems began with the rampant inflation and that followed the high cost of fuel and that wasn't Trump. It was the leading edge of Bidenomics.

What this country is never going to recover from is the open border we have had since Biden took office. This country is saturated with immigrants that have flooded across that border and the flooding is still unchecked. Biden's fence isn't going to slow it, it was never intended to. All it is, is an attempt to cover the mess up and get it out of the spotlight before the election. Want cooperation from our neighbors? Close the border till they step up, wasn't that one of the things Trump did?

 

Trump didn't give us ****, besides attempting to overthrow the election. Back here in reality, all of the economic trends you would like to credit to Trump were already on the rise before he was elected and didn't significantly break the trendlines already established. You can credit Trump or you can learn how to read a graph, but you can't do both.

 

You do realize that you are just repeating "historical inflation" (it is "historic inflation," not "historical inflation," by the way) three times and pretending it's three different things . . . right? And why are we doing so well when compared to comparable countries when it comes to inflation?

 

You think that inflation doesn't go up when growth and employment go up? Too funny.

 

How about how about how about?

Go start a thread with your how about. Or provide your how about information if it's related to the topic.
Don't just go how about.

 

Completely false, Biden didn't change the border, nor was he different than past Presidents. Insulting Mexico like Trump did, is not going to make them work with us any more or better.

 

Yet, all many can talk about when humping up trump is how great gas prices were in 2020.

They want to say gas of $2/gal is great even though they were $2/gal is because no one in the world was going anywhere.

You see what I mean about facts vs conspiracy theories?

They want a pandemic or recession, just so they can have $2/gal.

If they love what covid brought them but not the after effects, they are not living in the real world.

What open border? That's off topic, but there's a thread you can bring it up.
No single person can state this so called open border policy.

...
http://www.politicalforum.com/index...g-a-good-job-do-you-agree-or-disagree.614934/

 

Bidens job growth is people having to return to work to fill the gap inflation is causing..

https://www.usatoday.com/story/opin...ulling-boomers-out-of-retirement/70254240007/

https://financialpost.com/fp-work/retired-flocking-back-workforce-inflation

https://www.aarp.org/work/careers/retirees-returning-to-work/

On an on..

 

I am very well aware that inflation and GDP growth are two different numbers. You, on the other hand seem to be unaware of the difference between REAL and NOMINAL GDP growth. Or, maybe you are not unaware, but you rather conflate the two numbers to make the economy under Biden look bad.

The 5.2% growth rate that was released recently for last quarter GDP growth is a REAL number, meaning that it is AFTER inflation adjustment. Now, I realize that this is unwelcome news for Trump supporters, which is why they have to spin this in a negative way by any means they can come up with. NOMINAL GDP growth in the last quarter was 8.9%, significantly outpacing inflation.

Back to you, now try to find another reason why 5.2% GDP growth is really bad.

 

So you don't know what drives inflation
Thanks for confirming

 

Really, show us

 

Lol, if you can prove that long-term growth and high employment do not lead to inflation, you will win the Nobel Prize this year. Hands down. You will have no competition. You will have, single-handedly, completely revolutionized the field of economics. Let me know how that goes for you.

 

Must be CNN koolaid