GDP grew at a 6.9% pace to close out 2021

RQAA.

 

Again, no, you haven't provided the information requested. You provided an anecdote about SOME things going above 7% for YOU . . . and that changes nothing. No one said they wouldn't. Ever. That doesn't change 7% being the overall best estimate collectively.

Anyone who understands the concept of a an average gets this. If the class average for a test is a B, that doesn't mean that no one made higher or lower than a B. I sincerely don't know how to make this concept any simpler.

 

Trumponomics continues in spite of Biden's best(?) efforts to FUBAR the economy.

 

And again we turn to the same familiar theme: only people who can't read a graph credit Trump.

 

Anyone who goes to the grocery store, pays for utilities, and fills up their car with gasoline knows full well that inflation is a hell of a lot higher than 7%...

 

No one is claiming that literally everything everywhere in every situation went up by 7% and no higher. No one. This is a pathetic strawman.

 

This needs to be addressed:

...

I moved to Kentucky at the beginning of my sophomore year. What I didn’t know then was that I would be attending one of the worst-performing high schools in the state. I graduated in 2004, but the data from six years later — in the 2009-2010 school year — presents a fairly accurate picture of what it was like going to Leslie County High School in the ‘00s. Only 65 percent of our student body was proficient in reading at that time, and only 40 percent were proficient in math.

...

... Until my senior year, we did not have advanced placement courses. The classes we did have were only the basics required by the state, and even those were not always available. When I was applying for colleges, my school had to write a letter explaining that I hadn’t fulfilled the foreign language requirements because our school did not have a foreign language department. To this day, I speak only English.

Several teachers — and I use that word loosely — thought instructing meant having students read a textbook and do “packets” full of xeroxed worksheets. My physical science teacher never once taught a lesson, having taken the job apparently only to coach football. Instead, my friend Stephanie and I sat in the back, doodling and gossiping and coming up with inside jokes that remain funny to us to this day (go on, ask us about the runaway dildo.)

... https://www.independent.co.uk/voices/appalachia-kentucky-schools-biden-education-b1836055.html​

Small wonder that conservatives aren't always too fond of public education. It's not up to snuff in largely conservative areas, and that of course only breeds more conservatives, who tend to be undereducated and therefore easily manipulated by people like Trump, Hannity and Carlson.

 

There's also another issue with the GDP figures released today... The Port of Los Angeles intentionally held back their import data so that it couldn't be included into the GDP data (they released it after the GDP data was released rather than weeks prior as they typically do).

 

So where is your number and how did you arrive at it?

 

Well, if you want to make it about presidents, Trump had his chaotic Covid year, and the end result was a disaster, and now Biden had his Covid year and GDP went up 5.7%, - most in 40 year. I prefer to not credit or blame presidents too much though.

 

Exactly. In the very least, I'd like to see how this stacks up to global trends before crediting Biden, but it is funny to see how it destroys the "Trump magic wand" narrative of the past.

 

And you prefer to mix apples and oranges - GDP and COVID.

 

Funny how people celebrate after the event and claim it was all down to their guy in office.

But they never state their predicted figures for inflation, jobs, GDP etc.. for the next year or two.

Funny that.

 

In a contextual and historical trend cycle, they are related.

 

Sure they are.

 

I can't tell what you are trying to say here. No one is comparing GDP to COVID. People have (correctly) pointed out the COVID has impacted GDP. That's not comparing "apples and oranges." That's just pointing out that apples grow on trees.

 

Do your "investing" in the large cities. There is your problem. Leave us rural folks alone. We didn't ask for anything and we don't want anything from goverment. We live in rural areas for a reason. The reason is we don't like the life style of big cities and we don't want it brought here.

 

What has impacted it is federal government and crazy overspending. We need to remove government from GDP calculations. It makes the GDP numbers meaningless. Why? Because government is not economically productive. That is the P part of GDP.

 

How does 6.9% compare to population increase?

 

Okay, but we need to distinguish "rust belt" from "rural America."

The Rust Belt is a region of the Northeastern and Midwestern United States that has been experiencing industrial decline starting around 1980 ... Before World War II, the cities in the Rust Belt region were among the largest in the United States. However, by the twentieth century's end their population had fallen the most in the country.

https://en.wikipedia.org/wiki/Rust_Belt

Some "Rust Belt" cities include:

• Pittsburgh, Pennsylvania
• Erie, Pennsylvania
• Bethlehem, Pennsylvania
• Youngstown, Ohio
• Canton, Ohio
• Cleveland, Ohio
• Steubenville, Ohio
• Toledo, Ohio
• Columbus, Ohio
• Gary, Indiana
• Flint, Michigan
• McKeesport, Pennsylvania
• Wheeling, West Virginia
• Detroit, Michigan
• Milwaukee, Wisconsin
• Buffalo, New York
• Rock Island, Illinois
• Niagara Falls, New York
• Rochester, New York
• Grand Rapids, Michigan
• South Bend, Indiana
• Chicago, Illinois
• Charleston, West Virginia
• St. Louis, Missouri

https://simple.wikipedia.org/wiki/Rust_Belt

None of the above cities qualify as rural to my knowledge.

 

the only thing hotter than GDP stats are inflation stats. Hope all poor people are fully invested in the stock market...

 

GDP 4th qt = 6.9%
Population increase 4th qt = 0.2%

 

What awesome about 0% growth?
7% growth 7% inflation.

 

Too bad any gains were eaten up inflation.



6.9% GDP growth would be great if inflation was low like when Biden took over.

 

Real GDP takes inflation into account.

Real GDP takes inflation into account.

Educate yourselves.