A Quick Note About GDP

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I’ve been out all day with a mystery illness, but now I’m back. I think. I won’t know for sure until morning.

Just in case I’m not, a quick note: We’ll be getting the 3rd quarter GDP estimate on Thursday morning. Since GDP dropped something like 30 points last quarter, it’s inevitable that it will rebound by 20 points or more this quarter. Donald Trump is sure to call this the “biggest GDP gain in history” or some such, but obviously it’s no more meaningful than last quarter’s decline. Both are artificial results of government shutdowns and tell us nothing about the underlying economy. At this point, GDP growth isn’t much more than a measure of how much of the economy has been allowed to reopen.

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FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2020 demands.

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