Indeed. Rush discussed this very thing on his program today. Rush noted that the articles Headlines Screamed this bogus 32.9% claim yet, way down in the articles in the last paragraph or two they said this figure is ANNUALIZED.
More FAKE NEWS.
It’s the “NEW” Math, apparently left wing liberals can’t count their fingers and toes accurately.
Leftist journalists are numerically illiterate. Always go to raw numbers and then question the source of those figures.
This bit of Fake News lead to a nice stock market buying opportunity around 10AM this morning.
FOX was reporting the same....saw it at the bottom ticker of Tucker’s show.
Some countries report “annualized” numbers (the U.S.) and some don’t...Germany for example...their -10% for the quarter = more like 30-35% loss of GDP for Germany when “annualized”. Unfortunately with the continued lockdowns the -32% GDP # for the year might be pretty close (9.4% x 3 + whatever Q1 was).
Most business news sources I check mention “annualized”, but given the choice the mainstream media will pick the “gloomy #” if they dislike the president. And the reverse for Obama.