***Biden wins presidency-Boy are we toast***

[CountValentine]

I don’t think that is how pardons where intended to be used and not sure if legally it can be done that way.

He could pardon every single person in jail if he wanted to. That is why it needs to be changed and IMHO eliminated.

[zh cohen]

He could pardon every single person in jail if he wanted to.

Right, the question is if a general pardon for anyone convicted of a certain crime is valid, or if he needs to pardon each person individually.

[CountValentine]

Right, the question is if a general pardon for anyone convicted of a certain crime is valid, or if he needs to pardon each person individually.

Maybe look at what Carter did his first day in office for your answer. 

[avromie7]

Maybe look at what Carter did his first day in office for your answer. 

Yet another similarity between Biden and Carter.

[CountValentine]

After a massive increase in GDP last year let's see how the right-wing nutcases are going to spin this Q3 number!!!

[aygart]

After a massive increase in GDP last year let's see how the right-wing nutcases are going to spin this Q3 number!!!

I did not look at the GDP numbers but considering it is in the toast thread I assume they are higher which is great news.

Just as a side question that I want to look into, does higher inflation automatically translate into higher GDP since more money is changing hands for the same amount of actual economic activity?

[CountValentine]

GDP came in at 2.6%

For the second part, inflation has been going down.

[avromie7]

I did not look at the GDP numbers but considering it is in the toast thread I assume they are higher which is great news.

Just as a side question that I want to look into, does higher inflation automatically translate into higher GDP since more money is changing hands for the same amount of actual economic activity?

FWIU, if inflation and GDP increase at the same rate they cancel each other out. Higher GDP will cancel out some of the effects of inflation, but inflation will remain a serious issue until GDP grows at close to the inflation rate.

[CountValentine]

...but inflation will remain a serious issue until GDP grows at close to the inflation rate.

GPD grew more than inflation last year.

[aygart]

GDP came in at 2.6%

For the second part, inflation rate  has been going down.

Ftfy

[CountValentine]

Ftfy

Thank you. 

[avromie7]

GPD grew more than inflation last year.

It hasn't kept up this year. Even if they keep pace, inflation will still hurt many consumers, but it balances out on a national level.

[CountValentine]

It hasn't kept up this year. Even if they keep pace, inflation will still hurt many consumers, but it balances out on a national level.

So 2.6% GDP is a good number? If not, what would you call the -3+% GDP number for all of 2020? 

[aygart]

After a massive increase in GDP last year let's see how the right-wing nutcases are going to spin this Q3 number!!!

Fox Business: New GDP number not nearly as positive as Biden White House's spin. Here's why.
https://www.foxbusiness.com/politics/new-gdp-number-positive-biden-white-houses-spin

[CountValentine]

Again, good inflation numbers. How much more toast can you take? 

[aygart]

Again, good inflation numbers. How much more toast can you take? 

7.7 is good?

[CountValentine]

7.7 is good?

That is a lagging number. Market up on massively on the news. The market does not think it is a good number it thinks it is a GREAT number!!!

[aygart]

That is a lagging number.

-1 it is for the month of October.

Market up on massively on the news. The market does not think it is a good number it thinks it is a GREAT number!!!

It is a lot better than it had been and was priced into the market.

[CountValentine]

-1 it is for the month of October.

No that is 12 months (year over year), for Oct it was .4

It is a lot better than it had been and was priced into the market.

Wrong again. 
It was not priced into the market. It was a lot better than the market expected and that is why it went up.

[aygart]

No that is 12 months (year over year), for Oct it was .4Wrong again. 
It was not priced into the market. It was a lot better than the market expected and that is why it went up.

7.7 isn't the annualized number?
Correct, a worse number was priced into the market.