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| Q2 GDP Percent Change Annualized |
GDP contracted at a stunning annualized record 32.9% rate in the second quarter.
It is the steepest drop in records dating to 1947.
The decline was 9.5% compared with just the same quarter a year ago.
The longer the lockdowns stay in place, the more of the damage will be permanent for many businesses.
Civilization and the economy have been locked down for what appears to be a virus that has no serious consequences for almost all of in the working-age bracket.
This is tyranny.
-RW
It's been locked down to get the bad orange man out of the white house.
ReplyDeleteI think this is one of the leading theories about what is going on.
DeleteI'm more inclined towards multi-purpose hypothesis of why "elite" is doing it:
Delete1) to pee into Orange Man's teacup (he isn't actually hurt by any of this)
2) to create massive bailouts to themselves
3) to depress real asset prices to be able to buy them up on cheap
4) to destroy competition to their big corps from small businesses
5) to train hoi polloi to be more obedient (and impoverished people are easier to control in corporate plantations)
6) to advance their depopulation agenda
7) to create a cover for the JE scandal which directly involves a significant chunk of that elite.
From the point of view of the "elite" the lockdown and the masquerade are massive wins. Thus, their pet politicos and journos are all out on petty tyranny and fear porn.
I've seen reports claim only 9.5%. Why the discrepancy?
ReplyDeletehttps://www.nytimes.com/live/2020/07/30/business/stock-market-today-coronavirus
32.9% is the annualized number, while 9.5% is the quarterly decline compared to Q2 2019.
DeleteDavid
Is there any surprise that once the Oligarchy screwed the pooch they were going to concentrate wealth and here we are.
ReplyDelete