Donald Trump is responsible for a large percentage of our economic collapse. Stephanie Ruhle clips his wings with her assessment.
Stephanie Ruhle rules.
Stephanie Ruhle appeared on MSNBC to discuss the GDP numbers that that Trump was hyperventilating about as if it showed some economic prowess on his part. Here is the background as per CNN.
The US economy in the summer recovered much of the historically enormous ground it lost in the spring, expanding at the fastest rate on record in the third quarter, the Commerce Department reported Thursday.
Still, the recovery remains incomplete. The economic crisis that Covid-19 brought on is far from over, and the pandemic threatens to plunge the American economy into turmoil again as infection numbers continue to rise rapidly across the country.
The third quarter, however, was one for the record books. Gross domestic product — the broadest measure of economic activity — grew at an annualized and seasonally adjusted rate of 33.1% between July and September. This was a faster rate of expansion than economists had predicted.
It was also the fastest growth rate since the government began to track quarterly GDP data in 1947. It represented a sharp, albeit partial, recovery from the prior three months when the economy contracted at an annualized, seasonally adjusted rate of 31.4%.
The operative word is “rate.” The percentage growth is high because it was from a lower base recovering from a pandemic induced drop. That said, the recovery is far from the baseline or where we should be.
Stephanie Ruhle gave the necessary perspective the president would never give. The president continues to wing it, and for that, he will be a one-term president. Sadly, he should not even be president.
