Everybody needs money. That's why they call it money.

From full global headquarters, this is Motley Fool Money.

It's the Motley Fool Money radio show. I'm Chris Hill joining me this week. Andy Cross and Jason Moser. Good to see you, gentlemen.

It's Chris. It's earnings, Paloza. We've got so many companies reporting. We don't even have a guest this week.

And as always, we do have a few stocks on our radar, but we're going to begin with the big macro.

The US economy suffered its worst period ever in the second quarter with GDP falling 33%.

Andy Cross, it is the biggest drop since GDP started getting measured 70 years ago.

Yeah, not a great quarter, just because of the numbers and because of what we've been experienced with the COVID pandemic.

That is an annualized number. So quarter over quarter, Chris had dropped 9.5%. Still very bad.

Still recognizing that we are in very difficult circumstances as we are trying to come out of a quarantine from COVID.

Actually, we've seen some flare ups around the country and some kind of further concerns.

But 5.6% on the consumer spending side, the numbers just came out this week. So that wasn't so bad, Chris.

That was down a little bit from the 8.5% the month before or the quarter before or the start of the month before.

So we're seeing a little bit of spending patterns kind of come back.

Interesting, the personalized savings rate, Chris, really spiked as more and more people have really held back on that spending that has hurt the GDP numbers overall.

Jason, I suppose if there is a silver lining, it is good to see people saving more money.

Yeah, I mean, that is nice. I'm not going to complain.

We always say we'd love to see that personal savings rate go up.

And so you take what you can get even though that's probably somewhat of an adjusted number, I guess you could say.

It does feel like given everything we know today, I mean, it's more than reasonable to assume at least that the rest of the calendar year is going to be challenging in a best case scenario.

Now with that said, it doesn't mean things won't start getting better and it doesn't mean that we stop investing.

But it really does feel like there is a there is some sort of gap.

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