US GDP Fell 9.5% and Wealth Is Productivity

[AGBF]

Where are all the threads in which Dancing Fire touted Trump's great ability to produce a booming economy for the United States? I cannot count the number of threads in which he boasted about how Trump would do wonders for our economy.

The Republicans are really no good for the economy. The 2008 recession occurred under Republican President George W. Bush. Recovery from it was under the leadership of Democratic President Barack Obama.

And did I mention that the Great Depression started with the stock market crash in 1929 under the Republican leadership of President Herbert Hoover? It was Democrat FDR who pulled the US out of it.

Big Tech Earnings Surge as Economy Slumps (Published 2020)

The latest on stock market and business news during the coronavirus outbreak.

www.nytimes.com

 

[doberman]

The Republicans have always had a fascination with supply-side economics, despite its dismal track record.

 

[redwood66]

Yeah. Covid had nothing to do with it of course. Shutting down the entire country for months might have an effect on the economy.

 

[bludiva]

Yeah. Covid had nothing to do with it of course. Shutting down the entire country for months might have an effect on the economy.

I think that could have been handled differently, better in many ways, but we can't go backwards. The economy was already propped up beyond what makes sense given underlying fundamentals. There's a big reckoning this country needs to have that goes beyond party lines on creating a healthier economy going forward.

 

[redwood66]

I think that could have been handled differently, better in many ways, but we can't go backwards. The economy was already propped up beyond what makes sense given underlying fundamentals. There's a big reckoning this country needs to have that goes beyond party lines on creating a healthier economy going forward.

There's always better and worse ways to handle the economy but to point to a graph showing a gigantic dip when the country has been shut down for months is beyond disingenuous.

 

[bludiva]

There's always better and worse ways to handle the economy but to point to a graph showing a gigantic dip when the country has been shut down for months is beyond disingenuous.

we won't know how this plays out for another year probably, the crash in 2008 didn't take place all at once either.

do you disagree though, setting aside politics, that the economy needs some work overall? i feel like the US works for the sake of the economy, vs using the economy as an engine to drive us forward as a nation. which leads to a lot of short term thinking, giving us suboptimal long term results. anyway, i'm off topic from the original post and it's something that will take decades to solve, if ever, so i'll just leave it at that.

 

[Karl_K]

Deb,
For the first time I can remember I am extremely angry at you.
I feel this a slap in the face to those that have been harmed by covid and those doing the right things.
To do so while calling out a respected member of the forum makes it even worse.

Still your friend
Karl

 

[redwood66]

we won't know how this plays out for another year probably, the crash in 2008 didn't take place all at once either.

do you disagree though, setting aside politics, that the economy needs some work overall? i feel like the US works for the sake of the economy, vs using the economy as an engine to drive us forward as a nation. which leads to a lot of short term thinking, giving us suboptimal long term results. anyway, i'm off topic from the original post and it's something that will take decades to solve, if ever, so i'll just leave it at that.

You and I probably will never come together on the economy because IMO the government should be involved as little as possible. Less regulation and more free market, bordering on anarcho-capitalist, which in reality is only a dream.

But this thread, like @Karl_K said, calling out DF and being so disingenuous regarding the world's current circumstances is just disgusting. I had to take a break from here because I believe the Trump hate is so toxic on PS.

 

[Queenie60]

Do not mean to crash your thread @AGBF -I just want to say, @redwood66 - I am so glad to see you back. Hope you're well! Yes, the hate is so extreme that I stay completely away from the political threads. And had I called out a member on a thread, I can assure you that it would be removed and I would have a "time out" Oh well..... get the picture?

 

[House Cat]

Had warnings not been ignored in January, our economy might be in a different place. Scientists have said there would be much less death...i think the figure was 80% less death...so yeah, the fear of the massive casualties caused by the ego of trump is the reason this economy is in trouble.

Now, he is saying it isn’t safe enough to vote and we should postpone the elections but it IS safe enough out there for children to go to school and for people to go to work (in order to boost the economy for him.)

It’s all so transparent. He will sacrifice the lives of the people and their children for his reelection campaign.

 

[Dancing Fire]

The Republicans are really no good for the economy. The 2008 recession occurred under Republican President George W. Bush. Recovery from it was under the leadership of Democratic President Barack Obama.

A typical Dem. First you blame Bush then give credit to Obama for Trump's strong economy before Covid 19 hit.

 

[AGBF]

Deb,
For the first time I can remember I am extremely angry at you.
I feel this a slap in the face to those that have been harmed by covid and those doing the right things.
To do so while calling out a respected member of the forum makes it even worse.

Still your friend
Karl

I'm sorry to make you angry at me, Karl, but I do not hold Trump harmless in what happened to the economy. I believe that his extremely selfish response to the coronavirus, a response rooted only in a desire to be re-elected and abrogating all responsibility for centralizing a response to fight the pandemic, resulted in the explosion of the pandemic; the deaths of 150,000 Americans; and in the end the destruction of the economy.

Trump supporters tried to ignore a problem they needed to address. And many are still doing that. Yesterday Trump supported a woman who wanted to use a combination of hydroxychloroquin and exorcism of demons to treat covid19 and (women's) gynecolological problems respectively. That is the slap in the face here. A slap in the face to the American people. Trump said this supposed doctor had an important voice to share.

Where is Dr. Fauci being hidden?

 

[voce]

There was no way the US economy was going to be good this year. I don't know what the Trump supporters expected. But the GDP data is far from a number with one simplistic explanation or conclusion to be universally accepted.

What is factually true is that the stock market, since inception, has historically had a higher average rate of growth under D presidents than under R presidents. Unless there's a lag effect between Republican legislation and observed effects in the real world, there is no legitimate basis to think a Republican president will be better for the economy.

If you ask me, anyone who would support Trump now lives in mortal fear of socialism (exacerbated by the loud but scant in number radical leftists Fox News can't get enough of reporting on), and since it comes down to fear, it's an irrational emotional response that gets triggered, and the rational mind is enslaved to the primary emotional response.

 

[Musia]

I tried to find a recent and reliable (I mean New Your Times or Bloomberg) source of the information on how is China doing after reopening its economy. I found

(women's) gynecolological problems respectively

Can you name the disease please? Often drugs are used for many different conditions, sometimes even not labeled (off-label use). Viagra was developed for treatment of pulmonary arterial hypertension I believe.

One moment, please...

aapsonline.org

 

[voce]

@Musia

There's this. It's a poll by the economists. The IMF is forecasting 1.0% annual growth.

China's economy seen growing 2.5% in second quarter as lockdowns end, stimulus kicks in: Reuters poll

China's economy likely returned to modest growth in the second quarter after a record contraction, as lockdown measures ended and policymakers announced more stimulus to combat the shock from the coronavirus crisis, according to a Reuters poll.

www.reuters.com

 

[joelly]

Where are all the threads in which Dancing Fire touted Trump's great ability to produce a booming economy for the United States? I cannot count the number of threads in which he boasted about how Trump would do wonders for our economy.

The Republicans are really no good for the economy. The 2008 recession occurred under Republican President George W. Bush. Recovery from it was under the leadership of Democratic President Barack Obama.

And did I mention that the Great Depression started with the stock market crash in 1929 under the Republican leadership of President Herbert Hoover? It was Democrat FDR who pulled the US out of it.

Big Tech Earnings Surge as Economy Slumps (Published 2020)

The latest on stock market and business news during the coronavirus outbreak.

www.nytimes.com

Democrat controls the media though so who knows if this news clip is even true. Of course the economy is bad. It has been bad before this covid-19 situation. The question is who is benefiting from this whole ordeal.

 

[joelly]

A typical Dem. First you blame Bush then give credit to Obama for Trump's strong economy before Covid 19 hit.

 

[Musia]

@Musia

There's this. It's a poll by the economists. The IMF is forecasting 1.0% annual growth.

China's economy seen growing 2.5% in second quarter as lockdowns end, stimulus kicks in: Reuters poll

China's economy likely returned to modest growth in the second quarter after a record contraction, as lockdown measures ended and policymakers announced more stimulus to combat the shock from the coronavirus crisis, according to a Reuters poll.

www.reuters.com

Thank you, I don't know why it was preserved (my request for the info on China's progress). You see, I even didn't finish the sentence. I found an article on Bloomberg dated around July 16th, but they want me to subscribe if I wish to read it.

 

[JPie]

America first! So much winning...

 

[Musia]

@voce I was looking for the source that Deb would approve. I think she may like the info provided by Reuters.

 

[Demon]

America first! So much winning...

Wow. Winning!

 

[JPie]

Wow. Winning!

Seems to me like this is the best time to ask Mexico if they’ve changed their minds about paying for that wall...

 

[scouty]

Wow. Winning!

Soo much winning. Its incredible! Thanks to The Trump Virus!

 

[Dancing Fire]

Deb and I will never see eye to eye politically but I still love her.I have no hard feelings towards Deb. If Obama had a good economic plan in place then we wouldn't have a Trump in office today. Putting millions of americans on welfare is not a good economic plan. Creating millions of new job is the key to a strong economy.

The Dem. party will try to keep all businesses close up till the Nov. election b/c the key for Trump winning re-election is a strong economy.

 

[hmr_mama]

This seems disingenuous, at best. Most of these countries have travel restrictions for ANYONE entering their country, not just Americans. Another example of the bias in the mainstream media.

America first! So much winning...

 

[Musia]

The Dem. party will try to keep all businesses close up till the Nov. election b/c the key for Trump winning re-election is a strong economy.

China reopened economy and is doing fine.

 

[AGBF]

Deb and I will never see eye to eye politically but I still love her.I have no hard feelings towards Deb. If Obama had a good economic plan in place then we wouldn't have a Trump in office today.

Actually, Obama saved the economy. As I have said here ad nauseum I lived through the entire TARP (Troubled Asset Relief Program) period run by Neel Kashkari. It started under George W. Bush to bail out the banks that were too big to fail. Then President Obama had to lift the regular people, whose housing prices had fallen and who had lost their jobs, out of the great recession.

If Obama had been eligible for a third term he would have been elected to one and Trump would not be in office.

 

[voce]

Live statistics taken as of 3:09 PM from worldometers.com:



Tell me how these two scenarios are the same?



Even if you cannot trust China's officially stated numbers, what is true is that they have the coronavirus totally under control by now. Even if you are a skeptic, if the virus were still running rampant in China, there's too many citizens for the government to censor. My relatives who work in healthcare and volunteered in Wuhan have not seen coronavirus back home, and they would be people who can recognize it if it's there.

What happens in one country, does not lead to the same results in another country. I remember there was a point where the national health experts in the US and Germany were recommending the same things. Over time, the two countries diverged more, because compliance with health experts' advice was much better in Germany than the US.

 

[JPie]

This seems disingenuous, at best. Most of these countries have travel restrictions for ANYONE entering their country, not just Americans. Another example of the bias in the mainstream media.

While many countries like Canada and South Africa do have blanket travel bans, the EU has made recommendations to its members of which countries to allow. The list notably excludes the US.

Our major European allies do not think our country has handled the pandemic well and want us to stay out. You can’t blame that on media bias.

 

[Dancing Fire]

If Obama had been eligible for a third term he would have been elected to one and Trump would not be in office.

HRC lost the 2016 election b/c she ran on a 3rd term of failed Obama policies. Obama slow down our country's recovery b/c of too many regulations. Had our unemployment # been lower in Nov. of 2016 HRC would be the POTUS today.