Mon May 10, 2021, 01:50 PM

JuJuChen (1,969 posts)

Trump said the economy would crash if Biden won the election.

Dow hit 35,000 for the first time ever this morning. Up 12% since Big Joe took office.

8 replies, 1021 views

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8 replies	Author	Time	Post
Trump said the economy would crash if Biden won the election. (Original post)	JuJuChen	May 2021	OP
Been trolling righties with this all year	Johnny2X2X	May 2021	#1
I've known for over forty years, the orange anus has ALWAYS been...	Brother Buzz	May 2021	#2
The stock market is not the economy. The Dow was 28,635 on January 3, 2020.	Make7	May 2021	#3
GDP Was Up 6.4% Annualized in Q1	ProfessorGAC	May 2021	#4
The government spent more than $650 billion compared to the prior quarter.	Make7	May 2021	#5
Many parts of the economy are still shut down which will end soon.	Yavin4	May 2021	#6
You Said It's A Good Thing & A Bad Thing In the Same Post	ProfessorGAC	May 2021	#7
You seem to be reading things I didn't even write.	Make7	May 2021	#8

Response to JuJuChen (Original post)

Mon May 10, 2021, 01:57 PM

Johnny2X2X (15,870 posts)

1. Been trolling righties with this all year

Trump made everything about him, the UE numbers, the stock market, economic growth. They truly believe that the DOW was Trump's doing, so now that Biden is president they have little retort. It's fun.

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Response to JuJuChen (Original post)

Mon May 10, 2021, 01:58 PM

Brother Buzz (33,591 posts)

2. I've known for over forty years, the orange anus has ALWAYS been...

the perfect reverse barometer.

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Response to JuJuChen (Original post)

Mon May 10, 2021, 04:26 PM

Make7 (8,534 posts)

3. The stock market is not the economy. The Dow was 28,635 on January 3, 2020.

Does anyone believe the overall economy is better right now than it was prior to Covid-19? Yet, the Dow is up over 20%.

Millions of people are still out of work. Millions are on the verge of eviction. The growth in GDP is fueled by increased government spending.

We are not out of the woods yet.

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Response to Make7 (Reply #3)

Mon May 10, 2021, 04:31 PM

ProfessorGAC (57,930 posts)

4. GDP Was Up 6.4% Annualized in Q1

The stock market is not the economy, true.
The GDP is the economy, though. And this quarterly result suggests other than what you do.
BTW: that millions out of work is millions less than 6 months ago, and April was a net gain in jobs.
The edge of the "woods" is not as far away as you suggest.

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Response to ProfessorGAC (Reply #4)

Mon May 10, 2021, 05:12 PM

Make7 (8,534 posts)

5. The government spent more than $650 billion compared to the prior quarter.

That is a significant chunk of that 6.4%. I said the GDP growth was fueled by government spending, not entirely attributable to it. Government spending is a good thing in a recession, but it is not usually taken as a sign that the economy is doing well.

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Response to Make7 (Reply #5)

Mon May 10, 2021, 05:38 PM

Yavin4 (34,087 posts)

6. Many parts of the economy are still shut down which will end soon.

We're about to re-open, and see growth without any additional government stimulus. Life is getting better for everyone.

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Response to Make7 (Reply #5)

Mon May 10, 2021, 07:18 PM

ProfessorGAC (57,930 posts)

7. You Said It's A Good Thing & A Bad Thing In the Same Post

If you can't make up your own mind, i can't do it for you.

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Response to ProfessorGAC (Reply #7)

Mon May 10, 2021, 08:43 PM

Make7 (8,534 posts)

8. You seem to be reading things I didn't even write.

ProfessorGAC wrote:
You Said It's A Good Thing & A Bad Thing In the Same Post

I said government spending is a good thing in a recession. Where did I say it was bad? (I didn't.)

Could the economy be considered bad if it is currently in a recession? (My assumption is that recessions are not good.)

Could additional government spending be a good thing when the economy is bad? (Apparently I think it is.)

ProfessorGAC wrote:
The GDP is the economy

Does additional federal government spending of well over half a trillion dollars in a short period of time translate to a true reflection of the state of the economy in the GDP numbers? (I'm going with no. YMMV.)

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