US Economy BOOMING

[Bob]

If you want Crazy Uncle Joe to put you under lockdown and significantly raise taxes and kill your 401k, well, that's your prerogative.

https://www.cnbc.com/2020/10/29/us-gdp-report-third-quarter-2020.html

[Bob]

 

[AztecSU]

lol

[AztecSU]

netted 1.7% over the last 2 qtrs, woooo!

[Billings]

Gotta love free gov handouts.  Massive deficit spending will goose up the economy a bit.

 

Meanwhile massive layoffs at Boeing and Exxon to name just a couple of companies engaged in deep cut backs.

[Old_SD_Dude]

Boobonomics. 

[IanforHeisman]

Right! Just like when Biden was VP and killled the economy!

 

 

Oh wait..

[East Coast Aztec]

I am glad we have bounced back, but anyone with half a brain knows what is going on here.  

 

But a lot (OP included) will either not know what they are reading, or don't care about the obvious, because Teams n Shit.

[AndroidAggie]

there is so much more to the economy that the dow

[Bob]

My gosh you lefties are an miserable lot. You’d probably complain about a blow job

[smltwnrckr]

7 minutes ago, Bob said:

My gosh you lefties are an miserable lot. You’d probably complain about a blow job

If it was given to me by a toothless hooker, I might. Trump in the time of COVID is the toothless hooker of economic news. 

Though I'm not a lefty.

[818SUDSFan]

11 minutes ago, East Coast Aztec said:

I am glad we have bounced back, but anyone with half a brain knows what is going on here.  

Trump's approval ratings consistently show that a little more than 40% of Americans don't have half a brain.

[WYO1016]

I mean, I'm glad it's bouncing back, but we're still below where we were 2 years ago.

[East Coast Aztec]

6 minutes ago, Bob said:

My gosh you lefties are an miserable lot. You’d probably complain about a blow job

It isn't left or right.  It's rational analysis.  Q2 heavy drop because of the virus and the flood of money lost, to Q3 rebound and many workers back to work and a massive stimulus.  Really hoping for a good Q4, even if we removed the likely upcoming stimulus.  Most companies have invested a bit in tech for telework, so I am optimistic.

[RSF]

5 minutes ago, East Coast Aztec said:

It isn't left or right.  It's rational analysis.  Q2 heavy drop because of the virus and the flood of money lost, to Q3 rebound and many workers back to work and a massive stimulus.  Really hoping for a good Q4, even if we removed the likely upcoming stimulus.  Most companies have invested a bit in tech for telework, so I am optimistic.

The Q4 predictions have been coming in at about 2-4%, with a double dip recession seen as a distinct possibility.  The economy is also still short 10 million jobs.  

[East Coast Aztec]

1 minute ago, RSF said:

The Q4 predictions have been coming in at about 2-4%, with a double dip recession seen as a distinct possibility.  The economy is also still short 10 million jobs.  

A positive is fine at this point to me.  Dynamic GDP is a disaster, slow consistent positives at least equal stabilization.  Which for this year, would be nice.

[AztecSU]

10 minutes ago, East Coast Aztec said:

It isn't left or right.  It's rational analysis.  Q2 heavy drop because of the virus and the flood of money lost, to Q3 rebound and many workers back to work and a massive stimulus.  Really hoping for a good Q4, even if we removed the likely upcoming stimulus.  Most companies have invested a bit in tech for telework, so I am optimistic.

JMO, but the PPP is going to work a lot like a delayed stimulus in that a lot of companies that received it will end up not needing all of it even though it's likely to be forgiven. Watch for headlines in 2021 about companies using leftover PPP funds like a war chest. 

[NMpackalum]

14 minutes ago, AztecSU said:

JMO, but the PPP is going to work a lot like a delayed stimulus in that a lot of companies that received it will end up not needing all of it even though it's likely to be forgiven. Watch for headlines in 2021 about companies using leftover PPP funds like a war chest. 

They keep changing the rules about PPP forgiveness. In retrospect, I should have just kept it in a war chest instead of spending it and give it back if I didn't need it. As it was, my employees benefitted from more work hours and hazard bonus. I don't think I would take another PPP loan again.

[halfmanhalfbronco]

46 minutes ago, smltwnrckr said:

If it was given to me by a toothless hooker, I might. Trump in the time of COVID is the toothless hooker of economic news. 

Though I'm not a lefty.

Toothless?  That sounds awesome off.

[Old_SD_Dude]

8 minutes ago, NMpackalum said:

They keep changing the rules about PPP forgiveness. In retrospect, I should have just kept it in a war chest instead of spending it and give it back if I didn't need it. As it was, my employees benefitted from more work hours and hazard bonus. I don't think I would take another PPP loan again.

I'm on the BOD of a small environmental consulting firm and that's what we've done. We're just sitting on it until the forgiveness criteria settle out.