Skip to comments.U.S. GDP grew at record 33.1% annualized rate in 3rd quarter, as Economy Roars Back from COVID....
Posted on 10/29/2020 8:35:30 AM PDT by caww
New third quarter 2020 economic numbers Thursday show record growth, 'confirming' a rapid, 'V-shaped recovery' from the nationwide economic shutdown induced in the spring in response to the spread of COVID-19.
The Federal Reserve Bank of Atlanta, the Chicago Fed, the Conference Board, and Goldman Sachs had all expected growth to be between 30% and 35%, on an annualized basis. This level of growth, economists noted, would be the highest in the history of American GDP calculations, which began during the Great Depression.
Laffer called the 30-35% range "a very nice V shaped recovery ... probably the single best quarter ever."
Brooke Rollins, White House acting domestic policy chief, told "Just the News AM" television show on Wednesday that the record Q3 numbers were only made possible through a Trump administration tax and regulatory framework which had already proven itself with record-low unemployment figures among African-Americans, Latinos, women and other groups.
While acknowledging that federal stimulus packages like the CARES Act "had something to do with keeping people's food on their table and in their homes" pending the "incredible comeback of our economy," ultimately, Rollins said, "the real success story here is what President Trump built over the last three and a half years."
(Excerpt) Read more at justthenews.com ...
This will get as much coverage as the Hunter story
But the stock market is not responding as one would think... is the market trying to make Trump look bad before the election.
Democrats promise they can dramatically reverse this if they get into power.
Democrats are promising massive stimulus and bailouts. The stock market loves that free government money.
That’s one promise they can keep.
Don’t know the numbers for Kanadahar yet but under True-dope and the other Mao worshippers in d’Ottawa, Canada’s recovery will not be ‘V’ shaped. Instead, it will be a ‘backslash’ (\) shaped ‘recovery’.
True-dope’s idea of ‘inclusion’ and ‘equality’ is not to help other nations increase their economies, rather, his idea is to bring Canada’s economy down to the level of third-world nations ruled by dictators, ‘rulers’ that he envies.
and stock market is “ho-hum”
Stock market is ho-hum because they think Biden still has a chance of winning.
Market never responds to current news unless it is bad and unexpected.
Stocks have been pricing in a Biden victory.
Oh yes, IMHO. The dems and/or Trump haters are in full control of market manipulation, selling etc. Dumping stocks to cause it to tank. Just read Market Watch articles and comments there. They are nutso.
I personally don’t believe stocks have been pricing in a Beijing-Biden victory. Stocks I believe, have been pricing in an “I don’t know what is going to happen in the election” viewpoint.
I blame President Donald J. Trump for this good news.
I’m still not tired of this winning.
“The dems and/or Trump haters are in full control of market manipulation, selling etc. “
Agree, Soros made his fortune selling short...he knows how to roil the markets..
But, this GDP news is heading into a Global headwind of MEDIA panic about Covid...
Started over the weekend....the world markets have been selling all week..
Another force in the way of DJT...
No, theyre scared of a Biden win. Keeping their powder dry.
The markets love Trump, dont worry.
What’s gonna roar when Trump wins, again?
I threw a bunch into airlines and I’m sitting nicely up about 40%, but I could stand to do some bargain hunting as this week closed out.
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