BREAKDOWN: Mirage Recovery – What ‘Record’ GDP Growth Tells Us About the Economy

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CoinDesk

Business News, Daily News, News, Tech News

4.7 • 698 Ratings

🗓️ 29 October 2020

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Department of Commerce’s new report shows 33.1% annualized growth in Q3, but does this really tell us much about the state of the economy? This episode is sponsored by Crypto.com, Nexo.io and Elliptic. Today on the Brief: FTX launches equities trading Avanti gets Wyoming bank charter France locks down and ECB intimates new stimulus Our main discussion: GDP growth report The Department of Commerce released its Q3 GDP numbers. Touted as record growth, this is actually a much more complicated story. In this episode, NLW breaks down what the numbers tell us and what they don’t, and why we should be more focused on understanding long-term consumer behavior shifts than short-term numbers. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:49.5	People are going to make different decisions that don't care about what they're ordered to do
0:55.0	because they just make sense for people to do.
0:57.9	And as we start this new beginning, we're starting weaker.
1:02.2	And the easy gains in many ways have already happened with reopenings.
1:05.8	The demand and the desire for a better economy is there.
1:09.3	It's just a question of when it's really possible.
1:14.2	Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the
1:21.3	big picture power shifts remaking our world. The breakdown is sponsored by crypto.com, nexo.io, and elliptic, and produced and distributed by CoinDesk.
1:32.2	What's going on, guys? It is Thursday, October 29th, and today we are talking about a mirage recovery.
1:41.0	What the GDP report tells us about the economy? First, however, let's do the brief.
1:46.0	First up on the brief today, FTX is launching Bitcoin and crypto pairs for stocks.
1:52.0	FTX is enabling users to trade 12 with theoretically more coming, equity, and cryptocurrency pairs.
	...

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