Thursday, July 30, 2020

SO HOW COME IT'S NOT CALLED GREAT DEPRESSION TWO? In,"1933 real GDP had fallen by over 25 percent" - "US economy has worst-ever quarter with epic 32.9% dive in Q2 GDP "

The Great Depression began in late 1929 as a recession not unlike those experienced previously—a decrease in GDP from one year to the next was common—but it rapidly blossomed into a four-year reduction in economic activity. By 1933, real GDP had fallen by over 25 percent and was only $636 billion
MORE AT:
https://2012books.lardbucket.org/books/theory-and-applications-of-macroeconomics/s11-01-what-happened-during-the-great.html




"We knew the United States economy fell off a cliff in the second quarter.  On Thursday, we learned just how steep that dive was:"




US economy has worst-ever quarter with epic 32.9% dive in Q2 GDP


Annualised quarterly plunge was driven by coronavirus lockdowns that ground US economic activity to a halt.

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