Girl Gone Smart: That "two-days after the 2020 election" post. Let's discuss.


N. Korea launches missile. Image: NY Post.

Have you seen the Facebook post going around lately that says something like... "I'm sharing this on my page two days after the 2020 election so that it will show back up as a memory a year from now, and I will know that gas prices are... mortgage rates are... ISIS is... North Korea is... and so on?


Let's break that down.

The claim:

"Gasoline is currently $1.80 - $2.10 per gallon.

The truth:

Today it's $2.160 in Albany - not far off. (Also has very little to do with the President of the United States.)


The claim:

Interest rates are 2.65% for a 30-year mortgage.

The truth:

Today it's 3.391% for a 30-year fixed mortgage.


The claim:

The stock market closed at 27,848 despite COVID.

The truth:

The Dow Jones closed at 27,847.66. Notably, 14 components of the 30-stock index ended in green while 16 finished the day in red. The blue-chip index is 2.4% below to become green year to date.

Another truth:

The US Debt exceeds the economy for the first time since WWII.


The claim:

Our GDP growth for the 3rd quarter was 33% - the best in economy in our history.

The truth:

The GDP for the 3rd quarter is 33.1%, but in the second quarter, real GDP decreased 31.4 percent - the biggest downturn on record.

Another truth:

Growth was much higher in the early 1960s at close to 5 percent per year and unemployment was below 3 percent,” said Michael D. Bordo, director of the Center for Monetary and Financial History at Rutgers University, adding that the tech boom in the 1990s was also a period of rapid growth. He said even higher economic growth was probably achieved in the 1870s, when Ulysses S. Grant was president.


The claim:

North Korea has not been testing any missiles.

The truth:

North Korea launched a series of missiles in March 2020 with Kim Jong Un's promise to possess new strategic weapons. The country is also close to completing a new facility to launch nuclear weapons.


The claim:

ISIS has not been heard from in over three years.

The truth:

Currently, the UN's counter-terrorism chief, Vladimir Voronkov, has disclosed there are more than 10,000 Islamic State Fighters actively operating in Iraq and Syria. Thousands more have migrated to join the group's various regional affiliates now scattered around the world. Washington DC has raised considerable worries, and admits ISIS is still viable.


Congratulations to President-Elect Biden and Vice-President Harris!


Sources:



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