Great Economic Numbers, But No Credit
The Commentary Magazine Podcast
Commentary Magazine
4.6 • 5.1K Ratings
🗓️ 29 October 2020
⏱️ 54 minutes
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| 0:00.0 | ... |
| 0:24.0 | Welcome to the commentary magazine podcast today. |
| 0:26.9 | This is October 29th, 2020. |
| 0:29.7 | We are five days out. |
| 0:30.7 | I'm John Puthhorz, the editor of commentary magazine with me. |
| 0:33.4 | As always, associate editor, Noa Rothman, Hi Noah. |
| 0:37.4 | Hi John. |
| 0:38.4 | Executive editor, A Greenwald Hyam. |
| 0:40.4 | Hyjon. |
| 0:41.4 | And senior writer, Christine Rosen, Hykristine. |
| 0:43.4 | Hyjon. |
| 0:44.4 | So, just out as we are recording this, the GDP numbers for the previous quarter come in at |
| 0:54.6 | 33.1% growth, which is an astonishing number. |
| 1:02.6 | It's a number like this has never been seen before, but of course we never had an economic |
| 1:06.2 | collapse. |
| 1:07.6 | Like the economic collapse we saw in the wake of the pandemic and that's, you know, the |
| 1:11.0 | economy shrank. |
| 1:13.0 | Like the economy has never shrunk before. |
| 1:14.6 | So you are talking about growth off a vastly reduced base. |
| 1:20.6 | Nonetheless, it's obviously very good news. |
| 1:23.0 | It comes interestingly enough at a time when the stock market is in this may, this may |
| 1:31.6 | cushion it, but it has been in a little bit of a free fall this week, dropping about 9% |
... |
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