Posted on 10/29/2020 7:32:25 AM PDT by Oldeconomybuyer
Last quarter saw a record-high jump in economic growth: The government’s initial GDP calculation came in at 33.1 percent for the quarter on an annualized basis.
While this is a remarkable turnaround from the plunge of 31.4 percent the economy registered in the second quarter, economists say the third-quarter blowout is less than it first appears. “The obvious caveat is that when you drop 30 percent and gain 30 percent, you’re still below where you started,” said Jon Burckett-St. Laurent, senior portfolio manager at Exencial Wealth Advisors.
“It’s easier to get big growth rates when you're coming off a lower base. That’s what a lot of this is,” said Dan North, senior economist at Euler Hermes North America.
For President Donald Trump, this isn’t great news. Market observers say the GDP bounce is too little, too late to move the needle with voters. “The advantage given traditionally to President Trump in respect of economic performance has now totally disappeared,” said Ludovic Subran, chief economist at Allianz SE. “Despite some progress on the job front, the lead of Biden compared with Trump has rather increased.”
(Excerpt) Read more at nbcnews.com ...
I notice NBC is doing it’s best to turn good news into bad news.
Yep, just what they said about President Obama’s massive improvements from the depths of 2008 ... Oh, wait ... Oops!
Good GDP is really Bad GDP.
Freedom is Slavery.
War is Peace.
Ignorance is Strength.
That’s like saying the unemployment rate is the lowest ever at 1% but still 10,000 can’t find work.
NBC would throw a wet blanket over Parousia...
Can’t argue with that logic. So, what that means is that NOW, they must agree that it is a “V” shaped recovery. (Oh, wait, they will change the goal post again for that one)..
They must have forgot “negtive 30%”. Hey Commiecast, phu cough.
It’s not just NBC, they all copy and paste the same negative rhetoric.
Scumbags all!
Let me add please
Trump rallies bad for Trump
Supreme Court nomination bad for Trump
Low unemployment numbers bad for Trump
Covid recovery for Trump is bad for Trump
Actually read all this
Copy and Paste News Corporation.
Great news, but had Harris been POTUS, it would have been double that without any drawbacks and we would be all cheering Her, while deriding that stumble bum, Trump. We are totally fair and impartial in our analysis, said Vice President Pelosi.
Yeahh...and Chuck Todd has anecdotal evidence that Trump rallies are hurting him. How do they keep jobs, and stay in business ?
The spin is hilarious.
This is the V-shaped recovery on steroids.
We may not be back 100% to where we were when the beginning of this “V-shaped” recession began, but the claw-back up out of the pit is still spectacular.
Some people just cannot stand prosperity. Adversity suits them so much better.
The Cold Dark Winter Network
Of course NBC, NOW the Gross National Product number is meaningless.
Ask yourself how many stories you’ve seen on this this morning, with the word “but...” in the title.
Trump could get 400 votes in the Electoral College and these people would say, “It’s not the landslide it appears to be. In fact, Joe Biden is the real winner because he didn’t die before election day.”
Yes it’s deceptive or ignorant to talk about “NBC”. Comcast is what we really should be talking about. NBC is a middleman. Comcast is the owner
People should complain to Comcast directly - why do they promote left wing propaganda?
Trump should have spent the last three years helping to organize mass popular consumer pressure campaigns against Comcast (NBC), Disney (ABC) , and ATT (CNN), to demand an end to the liberal monopoly of news presentation and messaging
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