US economy won’t be charging upwards like we had hoped for

[Torque]

@stompix it seems that US economy has rebounded in the Q3 by 33.1%, and this is excellent news for US citizens because now they have some hope of reaching the pre pandemic levels in 2021.

This would be the time for me to brag with I've told you so...
U.S. GDP booms at 33.1% rate in Q3, better than expected

Fake news.

https://wolfstreet.com/2020/10/29/no-gdp-didnt-jump-33-1-in-q3-but-7-4-after-plunging-9-in-q2-time-to-kill-annualized-growth-rates-stimulus-fattened-imports-were-a-huge-drag-on-gdp/

That “33.1%” reflected the jump in Q3 from Q2 but roughly multiplied by 4 to produce a theoretical figure of what GDP for the whole year would be if it kept surging four quarters in a row like this. And that’s not going to happen, just like the plunge in Q2 wasn’t actually “31.4%” and wasn’t repeated four quarters in a row. Deeper down in its GDP report this morning, the Bureau of Economic Analysis also reported “not annualized” figures. And not annualized, GDP jumped by a record of 7.4% from Q2, after the record 9.0% plunge in Q2 from Q1.

Also here, have a rant:

https://www.youtube.com/watch?v=tuAxgJZIQhg

[STT]

Sounds like confusion over statistics which explains most of economic and FED policy decisions, either way the trend is more important then any particular data point.    It should be this way, the shut down of course was artificial so alot or most business should reappear.   Bigger problem is the continued threat and requirement for adapted operation.    I'm personally glad finally distance working may become a viable choice, the inefficiency of queues of traffic leading into city centres twice a day never made sense to me in an era of technology alternatives.    Its not impossible we gain overall from recognising better ways to operate, that'd be great GDP growth to see.

Here's the biggest proof yet that we are in a Depression.

Coca Cola Corp,

I generally agree with that one, though not Coke alone but many core businesses.   The big clue and I should have taken more from it is the continual weakness in oil demand, this is not this year in scope but for a decade or more.  World growth is lacking imo, in context of the largest countries coming to a point where energy usage might occur and hopefully cleanly but the energy demand should be so much greater.  Its not there because some growth is false, just misreported inflationary effects.

[Vaskiy]

More companies have been suffering the worst days of business. Everyone are much concerned about the president election scheduled for this month. Once after the election there'll be sudden boost in the economy, particularly with the stocks. This growth is temporary and the same might be taken forward based on the money flow created by the forming government.

[davinchi]

Financial data could be picked and chose anyway you want, I can find data right now to make it look like USA economy will be so great that we are going to use golds to wipe but I could also find data that would show that we are going to starve and be like Venezuela in a year as well, it all depends on the perspective where you are looking at and the real data on how it should be seen is not fun, not just because it is bad but whenever it is real it is usually not that interesting so it doesn't make it to be a good news, who would like to read a whole page article about "1% growth per year" that is not fun, but how about "recovered 33% in 3 months!!!" that is definitely more read worthy so newspapers run with that.

At the end of the day 2020 was a HORRIBLE economical year and yes it may have recovered a tiny bit but there is still tons of ground to cover just to be on pre-pandemic levels let alone be bigger.

[yhiaali3]

Well, of course, the decline of the American economy will have a great impact on the American elections, every president who wants to be re-elected for a second time must make great economic achievements, but it seems that Trump has failed to stimulate the American economy and the Covid-19 virus has helped to worsen the economic situation, this is an addition To the other big negatives of Trump and his controversial statements, which led to a significant decline in his popularity.

[Fortify]

The virus has been around for a while now and I have a feeling that the second wave will be bad, but hopefully things will start to get better afterwards. The current lack of leadership in America is quite frightening, so it'll be interesting to see what happens on the 4th of November and maybe that can be a turning point. I think we have yet to see the bottom economy-wise because a lot of people may still lose their jobs and there may be a 3-6 month delay before start to see all the mortgages that stop getting paid due to job losses. After that and hopefully with a vaccine/rapid testing solution in place it should be possible for the economy to recover quite strong.

[bitbunnny]

More companies have been suffering the worst days of business. Everyone are much concerned about the president election scheduled for this month. Once after the election there'll be sudden boost in the economy, particularly with the stocks. This growth is temporary and the same might be taken forward based on the money flow created by the forming government.

Many businesses and companies are struggling to survive but the worst thing is that we still don't see the end of this crisis.
Elections are close but who knows how the situation will develope afterwards, it might be better but it might be even worse. No one can't guarantee the boost and growth, this time situation is much more complicated and it's not only depending on politics. Pandemic at the moment has the greatest power.

[darewaller]

The deal about Trump and the economy is that we all know who Trump is and what he is all about and he is not a centrist or anything that could leave any question marks about him at all. Even Obama had 2 terms and had things that could be considered progressive and he had things that could be considered conservative as well, he was a true and true centrist so you didn't know what he was thinking about when it came down to each subject, maybe this time he would be left maybe he will be right.

Trump is not like that, on economy and on all other things we know where he stands, he is a far right person and will always be a far right person. Which is why economy could get as bad as it gets and people who support him will keep on supporting him no matter how bad things get, they knew what they were getting and they are fine with it.

[Torque]

My my, just look at that V-Shaped recovery in London! Amazing!  /s

https://www.youtube.com/watch?v=Dd2-VY6roL0

[justdimin]

More companies have been suffering the worst days of business. Everyone are much concerned about the president election scheduled for this month. Once after the election there'll be sudden boost in the economy, particularly with the stocks. This growth is temporary and the same might be taken forward based on the money flow created by the forming government.

Many businesses and companies are struggling to survive but the worst thing is that we still don't see the end of this crisis.
Elections are close but who knows how the situation will develope afterwards, it might be better but it might be even worse. No one can't guarantee the boost and growth, this time situation is much more complicated and it's not only depending on politics. Pandemic at the moment has the greatest power.

It is becoming more about big companies versus small shops and that is the scary part about becoming on dimensional in the future.

For example, the pizza shop around the corner is not doing that well, they are not going to survive if this goes on a bit more, but pizza hut is not hurt at all, they have enough money and places that even if they do not have enough profits during this period, they could use their excess amount of profits they already made not only to keep surviving but also open more places while it is cheap as well.

Same goes for every business around the world, small places closes down and big places keep growing. This could cause economy to look better because there are huge companies profiting but the reality will be totally different from the numbers.