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GDP grew at a 6.9% pace to close out 2021

Discussion in 'Latest US & World News' started by Pro_Line_FL, Jan 27, 2022.

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  1. Aleksander Ulyanov

    Aleksander Ulyanov Well-Known Member

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    I'm sorry, but what the devil are you even talking about? By the very definition no city is rural.

    Can you give us an example of a rural city please.
     
    Aleksander Ulyanov, Jan 29, 2022
    #51
  2. Aleksander Ulyanov

    Aleksander Ulyanov Well-Known Member

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    Trump would be doing that if we were in the middle of the Great Depression and WWII had just started early besides

    The RW can spin and minimise and prevaricate this any way they want. This means nothing less than that Biden is doing fantastically great in his FIRST year. If this continues he WILL be one of our Great Presidents.

    A man with years of successful experience doing just the job he is experienced at does very well at it. Whoda thot?
     
    Aleksander Ulyanov, Jan 29, 2022
    #52
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  3. Shonyman32

    Shonyman32 Well-Known Member

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    Still lower than 2019 and it's easy to grow after we shutdown. Comp numbers are easy. Regardless of president.
     
    Shonyman32, Jan 30, 2022
    #53
  4. bigfella

    bigfella Well-Known Member

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    You know what is going to happen. When the growth figure for next year is lower (and that is highly likely) they will claim 2021 is Trump's accomplishment and that 'growth has plummeted' since 'Biden took control' of the economy.
     
    bigfella, Jan 30, 2022
    #54
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  5. Aleksander Ulyanov

    Aleksander Ulyanov Well-Known Member

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    No doubt, watch for it.
     
    Aleksander Ulyanov, Jan 30, 2022
    #55
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  6. kreo

    kreo Well-Known Member

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    Yea, the only problem is that when they have been calculating GDP they adjusted it to the 2% of inflation.
     
    Last edited: Jan 30, 2022
    kreo, Jan 30, 2022
    #56
  7. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    No. Did someone tell you that, or did you just make it up?

    The GDP deflator is not some constant from the beginning of the year.

    GDP Deflator 2021

    [​IMG]
     
    Pro_Line_FL, Jan 30, 2022
    #57
  8. kreo

    kreo Well-Known Member

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    Deflator is a difference between nominal vs real GDP.
    Nominal is 9% Real is 7% so deflator is 120
    Nominal GDP has increased by 9% i.e. 109 more then last year 100
    Real GDP increased by 7% i.e. e.g. 107 more then last year of 100
    109/107 is about 2%.
     
    Last edited: Jan 30, 2022
    kreo, Jan 30, 2022
    #58
  9. Professor Peabody

    Professor Peabody Well-Known Member Past Donor

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    More hocus pocus by the Democrats. Last I looked 7% minus 6.9% is a -.1%.
     
    Professor Peabody, Jan 30, 2022
    #59
  10. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    Sure, and 100-99=1, but you still do not know what Real GDP is.

    Educate yourself.
     
    Pro_Line_FL, Jan 30, 2022
    #60
  11. Professor Peabody

    Professor Peabody Well-Known Member Past Donor

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    Certainly not any numbers put out of the government. You call them real but since they're from the government the word "real" can't be used.
     
    Professor Peabody, Jan 31, 2022
    #61
  12. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    Feel free to use any number you like.
     
    Pro_Line_FL, Jan 31, 2022
    #62
  13. Starcastle

    Starcastle Well-Known Member

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    I hate Biden and would never vote for him but I do not think the economy is that bad. Wage increases have just about kept pace with inflation. Anybody who needs to work can find a job.

    Nurses are making money hand over fist now.
     
    Starcastle, Feb 2, 2022
    #63
  14. gfm7175

    gfm7175 Well-Known Member

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    What is interesting about this supposed "6.9% GDP" number (which was manipulated and doesn't account for all inflation) is that now the ADP Payrolls January report came out and it shows a drop of 300k jobs... Doesn't really mesh with the GDP number (or the "the economy is booming" interpretation of it), eh?

    An economy doesn't just go from 7% growth to 0% growth instantaneously...
     
    Last edited: Feb 2, 2022
    gfm7175, Feb 2, 2022
    #64
  15. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    They predict a bad jobs report for Jan, which will give you something to celebrate, but it doesn't have a whole lot to do with 2021 GDP, or jobs added (6.4 million). Jobs lost to Covid in Jan will likely be added back in Feb, which will make you sad again :(
     
    Pro_Line_FL, Feb 2, 2022
    #65
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