Let's look at the numbers, comparing Q2 2019 vs Q2 2020.
Q2 2019: 21.8 trillion
Q2 2020: 19.41 trillion (accounting for deflation to real dollars $19.71)
I'm pretty good at math, but this must be some new math that I don't understand.
The statistic you are referencing I believe is not a drop in GNP / GDP...its a drop in growth rate compared to the preceeding quarter.
That makes sense. I don't believe that's the message that the media is implying, however. When I read articles about about this stat, the media seems to imply that the true GNP/GNP dropped 33%.
Is this headline and article an attempt to give a true understanding of what's happening. Any objective person would say no.
https://www.cnbc.com/2020/07/30/us-gdp-q2-2020-first-reading.html
This CNBC article is twisting the truth in an attempt to confuse people.
CNBC is liberal media now? Thats where Larry Kudlow earned his living in between White House gigs where he adivised the sitting presidents that tax cuts for billionaires somehow benefit blue collar workers.
Here's the first article I found when Googling "United States GDP drop CNN". Is the first paragraph an attempt to convey an accurate portrayal of what's happening?
https://www.cnn.com/2020/07/30/economy/us-economy-2020-second-quarter/index.html#:~:text=New%20York%20(CNN%20Business)%20The,of%20Economic%20Analysis%20said%20Thursday.
Do I need to continue to show more examples of the Liberal media attempting to mislead the public? I'm certain that I can easily find a dozen more.
This is the first sentence in your article...and they proceed to show the same graph I did.
"The US economy contracted at a 32.9% annual rate from April through June, its worst drop on record, the Bureau of Economic Analysis said Thursday."
And FOX Business reports the same headline. Are they liberal bogeymen too?
FOX News: Second-quarter GDP plunges 32.9%, worst decline on record
It's all misleading.
