General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTrump 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.
Johnny2X2X
(19,066 posts)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.
Brother Buzz
(36,427 posts)the perfect reverse barometer.
Make7
(8,543 posts)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.
ProfessorGAC
(65,031 posts)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.
Make7
(8,543 posts)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.
Yavin4
(35,438 posts)We're about to re-open, and see growth without any additional government stimulus. Life is getting better for everyone.
ProfessorGAC
(65,031 posts)If you can't make up your own mind, i can't do it for you.
Make7
(8,543 posts)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.)
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.)