Thursday, October 29, 2020

US Economy Grew At A Record 33% Rate In The Third Quarter

 


Coming off the worst quarter in history, the U.S. economy grew at its fastest pace ever in the third quarter as a nation battered by an unprecedented pandemic started to put itself back together. 

Third-quarter gross domestic product, a measure of the total goods and services produced in the July-to-September period, expanded at a 33.1% annualized pace, the Commerce Department reported Thursday in its initial estimate for the period. 

That came after a 31.4% plunge in the second quarter and was better than the 32% estimate from economists surveyed by Dow Jones. The previous post-World War II record was the 16.7% burst in the first quarter of 1950. 


WNU Editor: What is shocking about these numbers is that a number of US states (i.e. New York, California, Illinois, etc.) are still under some form of lockdown. 

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4 comments:

  1. AnonymousOctober 29, 2020 at 10:38 AM

    Sports leagues are ignoring the fat Democrat goober and his pronouncements, which tells me that they are willing to go to court and expect a favourable outcome.

    Governor Gravy will not be re-elected. He'll retire to his ranch in Florida or ranch in Wisconsin.

    ReplyDelete
  2. AnonymousOctober 29, 2020 at 10:47 AM

    Shocking? Economic activity is shifting away from those states is one possible reason. Certainly mobile work forces are moving to states of lower cost and higher freedoms. Who wants to be in CA when you can't get your hair cut when other states don't suppress that and all the similar economic activities.

    ReplyDelete
  3. AnonymousOctober 29, 2020 at 11:04 AM

    What are you talking about?

    Of course, you can get your hair cut at any time.

    You just have to be a Democrat politician!


    Just ask Nancy Pelosi or Mayor Lightheaded.

    ReplyDelete
  4. AnonymousOctober 29, 2020 at 1:31 PM

    Fauci Recession

    Fauci Recession:

    Definition:

    Bureaucratic egghead convinces, or cajoles politicians to shut down the economy. Unlike a normal business cycle contraction which is as natural as the tide or the seasons, a Fauci recession is a a scaled up version of pilot induced oscillation.

    As soon as you take the crazed pilots hands off the controls, autopilot resumes level flight at prescribed altitude very quickly.

    Facui Recessions are a potlach for the vanity of Von Muchausen people.

    ReplyDelete