LogFAQs > #943547222

INTERWEBUSER posted...

* Consumer spending (retail sales) has surpassed February highs. Consumers drive two-thirds of the US economy.

I wonder how long this will be the case when Covid shuts the country down again because the administration is doing fuck all to deal with it.

* The extremely accurate Atlanta GDP forecast is now forecasting growth of 26% annualized in the 3rd quarter, the best in nearly a century (source: frbatlanta.org)

Forgive me for being pessimistic, but 26% GDP growth is extremely pie-in-the-sky. The Feds prediction is not so rosy.
https://www.federalreserve.gov/monetarypolicy/fomcprojtabl20200610.htm

* Economists have regarded the post-financial meltdown recovery as the slowest ever from a modern recession. In contrast, economists have said the current recovery is thus far the fastest in US history. (source: brookings.edu)

Economists did not note in that cherry picked statement that the post-financial meltdown was exacerbated by a Congress whose sole goal was to make the President look bad. By contrast, the current recovery is occurring despite a sitting President that has done absolutely nothing to address the root cause of the issue, namely Covid. In fact, one could go so far as to note that the current recovery would not have been necessary in the first place if the President has been doing his fucking job.

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"Sigs are for dorks."-- my wife