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BumRushDaShow

(167,281 posts)
7. It's actually a pretty long article
Thu Jul 29, 2021, 09:25 AM
Jul 2021

and I'm obviously constrained to the 4 paragraphs. But they do actually mention the other issues that you describe and attribute much of the surge to "pent-up demand" in certain sectors, which I interpret as almost a "dead cat bounce".

In reality, you also have a complete restructuring of the economy and business models that we are literally in the midst of and I don't think any of them have an idea what it will settle down to look like.

So I think the gist was that use of the term "recovered" was essentially in reference to raw comparative numbers. I.e., finally getting back to what things were "pre-pandemic", but now being in what is an elongated slog towards some different "post-pandemic" economic state, where there seems to really be no end in sight to a continual series of COVID-19 outbreaks that can halt or upend further growth, and in fact, cause a setback (and the cost of goods and services is reflecting that issue).

They sortof summarize it like this -

Now that GDP has regained the ground lost in that recession, the economy will shift from recovery mode to expansion mode. But economists say it may take years to regain its full potential and reach the levels it might have seen had the novel coronavirus not interrupted the longest U.S. economic expansion on record.


(and the above was actually referencing the expansion that goes back to the Obama administration through to TFG's coronavirus nightmare that triggered a recession).

Recommendations

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Good morning. mahatmakanejeeves Jul 2021 #1
Good morning and thanks! BumRushDaShow Jul 2021 #3
I wasn't aware that today was GDP day. That showed up while I was trying to find mahatmakanejeeves Jul 2021 #4
Dems are better for the economy IronLionZion Jul 2021 #2
I think that article is full of it bucolic_frolic Jul 2021 #5
Yep Worried2020 Jul 2021 #6
It's actually a pretty long article BumRushDaShow Jul 2021 #7
Thanks, I should read the entire article, but my attention span is short bucolic_frolic Jul 2021 #8
You don't have to worry about BumRushDaShow Jul 2021 #11
See? That's what happens when a competent president is in charge! Initech Jul 2021 #9
This goes back to President Obama's competent managing of the economy. totodeinhere Jul 2021 #13
RW media already spinning it durablend Jul 2021 #10
"RW media already spinning it" BumRushDaShow Jul 2021 #15
If we can enter the upcoming midterms with a growing economy like this then I think we totodeinhere Jul 2021 #12
Eviction moratorium ending will likely dampen this. n/t aocommunalpunch Jul 2021 #14
Shame on the Washington Post - they misstate the growth in the headline and 2nd sentence progree Jul 2021 #16
They eventually changed their headline after I did the OP BumRushDaShow Jul 2021 #18
The right-wing Twitter-sphere must be abuzz with "the gummint lies about GDP!" peppertree Jul 2021 #17
#BidenEconomy Deep State Witch Jul 2021 #19
You could have also told her that last year BumRushDaShow Jul 2021 #20
True That Deep State Witch Jul 2021 #21
LOL BumRushDaShow Jul 2021 #22
Latest Discussions»Latest Breaking News»U.S. economy grew annual ...»Reply #7