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Boogiemack

(1,406 posts)
Thu Oct 29, 2020, 08:05 AM Oct 2020

The GDP is a whopping number. I hope Joe and Kamala are ready with a rapid response.

It's huge but it follows a whopping drop last time. Most people won't understand this unless it is explained to them. It will not even get us back to the baseline where we were. COVID still looms large and Europe and elsewhere are shutting down again. Our GDP depends a lot on what the rest of the world is doing and what we do with COVID. People are still being evicted, people are still having utilities turned off. You know what Trump is saying about the economy is not exactly true. He is stiffing us just like he stiffed the folks standing out in the cold in Nebraska.

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The GDP is a whopping number. I hope Joe and Kamala are ready with a rapid response. (Original Post) Boogiemack Oct 2020 OP
Response chuckperth Oct 2020 #1
Are rent and mortgages included in GDP? Clearly fogged in Oct 2020 #2

Clearly fogged in

(1,895 posts)
2. Are rent and mortgages included in GDP?
Thu Oct 29, 2020, 08:52 AM
Oct 2020

I can understand people reallocating what monies they have into purchases. Earlier in this pandemic, around the time of the $1200 stimulus checks, I watched shoppers load televisions and other high dollar items into their carts. If they were using the stimulus money it would be one thing, but it seemed more like many saw an opportunity to get things previously outside their budgets. It would be helpful to know if, and by what amount, credit card debt increased before determining if the increase in GDP is reflecting an unsustainable bubble or not.

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