US Economy finally rebounds in the right direction.

[Juggy777]

I don’t even have to say it but it’s been a horrible year for the US economy, but as we finally bid this year a goodbye it seems that the US economy is finally starting to rebound in the right direction. Furthermore where businesses are allowed to remain open those states are recording low number of unemployed people, which shows that a recovery in the short term is quiet possible don’t you’ll think so?.

Sources:

https://www.cnbc.com/2020/12/22/us-gdp-q3-2020-final-reading.html

https://www.bloombergquint.com/global-economics/u-s-economic-rebound-is-patchwork-of-virus-risk-and-rules

[davis196]

Yeah,but the "lockdown guy" Joe Biden will become president next year.
So a new wave of lockdowns might begin in 2021,causing a new wave of unemployment.
I'm beginning to think that the US and the global economic crisis will be W-shared,or even WWW-shaped.
This means that the first crisis will be followed by a fast recovery and a new crisis right after the recovery.
We don't know how the economy will react to the increased inflation+increased debt levels,caused by the money printing and stimulus packs due to the recession,after the pandemic ends.

[exstasie]

I don’t even have to say it but it’s been a horrible year for the US economy, but as we finally bid this year a goodbye it seems that the US economy is finally starting to rebound in the right direction.

Well yes and no. Q3 was strong, Q4 is looking weaker. There is a general expectation of weak growth or even a contraction next quarter.

Makes sense when you consider the insane amount of fiscal stimulus earlier in the year, which dried up this fall just as huge economies like California began facing new lockdowns due to COVID-19.

Furthermore where businesses are allowed to remain open those states are recording low number of unemployed people, which shows that a recovery in the short term is quiet possible don’t you’ll think so?

New unemployment applications are back at 3-month highs. It's all about how you look at the data.

Congress did just pass a modest $900B stimulus package, and they're doling out $600 checks to most Americans in the next few weeks. That should prop things up a bit.

Yeah,but the "lockdown guy" Joe Biden will become president next year.
So a new wave of lockdowns might begin in 2021,causing a new wave of unemployment.

I don't think he has the authority to do that. It's up to governors at the state level. Isn't it?

[avikz]

I don’t even have to say it but it’s been a horrible year for the US economy, but as we finally bid this year a goodbye it seems that the US economy is finally starting to rebound in the right direction. Furthermore where businesses are allowed to remain open those states are recording low number of unemployed people, which shows that a recovery in the short term is quiet possible don’t you’ll think so?.

Sources:

https://www.cnbc.com/2020/12/22/us-gdp-q3-2020-final-reading.html

https://www.bloombergquint.com/global-economics/u-s-economic-rebound-is-patchwork-of-virus-risk-and-rules

Well that's happening all over the world! Employment is directly related to business and if the businesses were not allowed to operate, they won't hire people to work for them. So with the lockdown easing, businesses are opening up and they need people to operate. So people are finding employment. That's a simple linear relationship with the economy.

But recently a new strain of COVID is found in Europe, especially in Britain and Spain which is 70% more infectious. With this, UK has already started another phase of lockdown and many other EU nations will follow the same practice. So a risk is brewing up!

[BrewMaster]

things have gotten better but only a tiny bit. the economical problems that the world is facing is a lot bigger than this to be solved this fast, we are just seeing the tip of the iceberg. US is still facing the COVID19 pretty hard and anywhere that lockdown is removed is just because the economy would fail if it is kept close for longer otherwise things haven't improved with the pandemic.

if you look at the charts reported by worldmeters.info you can see that we are literary at the peak of the pandemic with both new daily cases and daily deaths with US at the top of the list on both metrics by far!

we also still have all the money US minted which as we know enters circulating slowly and will cause inflation, instead of being dumped into circulation right away and blowing up the economy.

[philipma1957]

I don’t even have to say it but it’s been a horrible year for the US economy, but as we finally bid this year a goodbye it seems that the US economy is finally starting to rebound in the right direction. Furthermore where businesses are allowed to remain open those states are recording low number of unemployed people, which shows that a recovery in the short term is quiet possible don’t you’ll think so?.

Sources:

https://www.cnbc.com/2020/12/22/us-gdp-q3-2020-final-reading.html

https://www.bloombergquint.com/global-economics/u-s-economic-rebound-is-patchwork-of-virus-risk-and-rules

We are yet to crash and burn think Jan 10-19.  Right before Trump hands it off to Biden.

2021 will be brutal.

[fiulpro]

I don't even understand the fact that why people of the US are complaining so much about the lockdown. It's not like anyone is getting benefited from it. Lockdown is essential !! Very essential!! The strain in the UK is an example so as what will happen if the virus was allowed to mutate uncontrollably.

Lockdown is essential but at the same time the government have to look into the fact that people here are living without jobs and small businesses are already done for till now. They have to handle everything. At least I believe that anyone would be better off than Trump and honestly after a pandemic what we saw in the US was not even that bad. They will recover soon and I do think it's normal , but still the value of dollar is like a balloon. If they continue to bring out the stimulus , it can go down anytime.

[Gozie51]

They will recover soon and I do think it's normal , but still the value of dollar is like a balloon. If they continue to bring out the stimulus , it can go down anytime.

Dollar will not drop more than as it has now and started to recover. Stimulus has not been the reason for dollar drop but the election preparation. Monies used for election are not invested money but stimulus was either used to continue small businesses or invested into cryptocurrency. The US economy needs more stimulus to go on into small business investment so that job creation will be on the high and the economy will pick faster than it will if no stimulus was given out.

[disconnectme]

The economy down turn was self inflicted, I think Trump play into the hands of this Globalist and helped him destroy the economy he used as his greatest achievement, there is no need for this lock down, when there is more than 97% chance of surviving Covid-19. I expect Q! to be very good as this lock down is eased

[DoublerHunter]

^ Probably, it is good for the US’s economy if it’s going to a right direction. But everything will change once the administration has been changed and Biden will soon sit at the White House. And Trump is better when it comes to economics.
I would bet, Joe has a better connection anyway. He doesn’t need to be great in economics. If it’s his weakness and he is a great leader, he doesn’t need to do it. He can ask for assistance from his connections and everything will be set up. We will see.

[exstasie]

I don't even understand the fact that why people of the US are complaining so much about the lockdown.

It's not like anyone is getting benefited from it.

I disagree. There are two primary groups of people. One group benefits from lockdown policies: they work from home, they collect extended unemployment benefits or from other government programs, etc. I personally know people who have taken tens and tens of thousands of dollars from the government.

Another group does not benefit: "non-essential" businesses are being completely ruined. Many workers and business owners, particularly in lower classes and in more informal economies, do not qualify for the patchwork of stimulus benefits. So they have no choice but to work, and to go on with their lives whether or not lockdowns are in effect.

Meanwhile, those who benefit from the lockdowns sit on their high horses in judgment......

[Hydrogen]

I don’t even have to say it but it’s been a horrible year for the US economy, but as we finally bid this year a goodbye it seems that the US economy is finally starting to rebound in the right direction.

Some cite the recent uptick of US stocks as evidence a recovery is imminent. (Without looking at economic projections which some have already mentioned.) We might logically deduce whether recovery is likely by attempting to rationalize market trends in 2020. I'll give you an example.

#1  What is normal market behavior for Vitalik Buterin or another major crypto holder selling off a portion of their holdings. Naturally we would expect a decline.

#2  This same trend holds true to US stocks and investments. Its typical for a stock to decline after a CEO or other major shareholder dumps a portion of their holdings.

Bezos sells more than $3 billion worth of Amazon shares

NOV 4 2020

https://www.cnbc.com/2020/11/04/bezos-sells-more-than-3-billion-worth-of-amazon-shares-.html

#3  If 1 and 2 are accurate then amazon's stock rising after Jeff Bezos dumped $3 billion of AMZN stock in november would appear to be an anomaly. But that market trend might also be explained by the following.

The Fed caused 93% of the entire stock market's move since 2008: Analysis

https://finance.yahoo.com/news/the-fed-caused-93--of-the-entire-stock-market-s-move-since-2008--analysis-194426366.html

...

In attempting to deduce 2020 market trends it could be fair to say US stock uptick is correlated with recovery.

Or it might be accurate to say US stock upticks are correlated with federal reserve injecting liquidity into stocks via banks.

Who could say which prospect is accurate.

[yhiaali3]

Trump will leave the White House while the United States suffers from the worst recession in its history.It is true that the current recession and the poor economic situation of the United States is one of the results of the spread of the Corona epidemic worldwide, but Trump's policies in dealing with the epidemic have made the matter worse. The US Department of Labor estimates that more than 21 million workers have lost their jobs. There are 3.6 million permanent unemployed for more than 6 months
The new US administration must now start working hard to get rid of this bad economic legacy that it inherited from the old administration. Of course, it needs some time for results to appear on the ground.

[Lorence.xD]

The economy down turn was self inflicted, I think Trump play into the hands of this Globalist and helped him destroy the economy he used as his greatest achievement, there is no need for this lock down, when there is more than 97% chance of surviving Covid-19. I expect Q! to be very good as this lock down is eased

The down turn benefited Trump's businesses, the laws he passed were to benefit the 1%. The lockdown could have gone a little different if the people in power at that time knows what they are doing, their head was up their asses that they couldn't see a solution except a stimulus that will only revive the economy for a short period of time. 3% is still not a good number when it comes to the virus, in my opinion risking your life to go out to work because the rate is low is pretty dumb, I would only work if there is a 100% survival rate, not to mention the hospital bills that you accrue when you get infected, in my country, having to go to a hospital is a bad thing because it could have been avoided although the bills are not as big as US where a broken arm costs a month's rent.

[Mauser]

This is great news. We really need more positive news right now. The second corona wave is very bad and hitting many businesses around the world. The best news we got s far is that the vaccines are finally being used. If can get a high number of immune people in the next few months we should be able to beat the virus in 2021. Economic growth is directly linked to the corona numbers in my opinion. The higher the numbers the higher the chances of another lockdown and lockdowns are the worst for the economy.

[passwordnow]

It is too early to conclude. It's year-end now, and everywhere is year-end shopping, that could turn into a fake recovery.

Not early though. It's been a tough year to consider that this pandemic has hit since last year but most of the countries including the US has only reacted after it's getting serious early this year.

The economy down turn was self inflicted, I think Trump play into the hands of this Globalist and helped him destroy the economy he used as his greatest achievement, there is no need for this lock down, when there is more than 97% chance of surviving Covid-19. I expect Q! to be very good as this lock down is eased

One of the reason that it's a self-inflicted downturn is due to the printing of more dollars. The massive money that they've printed just plunged their economy and with the help of businesses locking down due to lockdowns, that made the impact stronger. Also, the election has probably made it even good when there's already a hint who will be the next president. Elections do make investors confident if they like the winning candidate.

[amishmanish]

The people of USA demonstrated the whole world that how crazy and idiotic they can be. It has been shocking to see the cycle of fake news, divisiveness, conspiracy theories that have led to a condition that there are more deaths in US than any other developed country.

COVID is a bitch but wearing a mask and taking care of basic hand hygiene plus keeping distance has helped a lot of other countries. Even the huge population of India has been able to keep their numbers lower than the US because people are not behaving childishly. Businesses have slowly been able to stay open with people wearing masks and keeping distance.

If good sense were to prevail, full scale lockdowns wouldn't really be needed. But then there are these people who think that wearing a mask or taking a vaccine is going to result in them becoming slaves.

[Reid]

Yeah,but the "lockdown guy" Joe Biden will become president next year.
So a new wave of lockdowns might begin in 2021,causing a new wave of unemployment.

My first thought after reading the starting thread.
Joe Biden.
His goal is to cleanse this Covid-19 problem even if it needs more lockdowns being applied.

Entertainment industry. Gymnasiums being closed down and I bet all sports will be affected by it.
That will be a huge impact on the economy of the US again. Billions of money being halted and a lot of people will lose their job.
There must be another way to fix this.

[Twinkledoe]

Yeah,but the "lockdown guy" Joe Biden will become president next year.
So a new wave of lockdowns might begin in 2021,causing a new wave of unemployment.

My first thought after reading the starting thread.
Joe Biden.
His goal is to cleanse this Covid-19 problem even if it needs more lockdowns being applied.

Entertainment industry. Gymnasiums being closed down and I bet all sports will be affected by it.
That will be a huge impact on the economy of the US again. Billions of money being halted and a lot of people will lose their job.
There must be another way to fix this.

Interesting what will be his actual decisions when that time comes. Some parts of the world are having their lockdown again. This virus is really affecting not only the US economy but the global economy. With the vaccination starting to roll out, we will have a brighter year this coming year. Let's hope that these vaccines will at least contain the increase of covid cases.

[RAMZA]

One thing concerns me the most.

The U.S. economy grew at a record pace in the third quarter, fueled by more than $3 trillion in pandemic relief.

$3 trillion is even more that a half of all US dollar supply.