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Politics : Ask Michael Burke

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To: Mike M2 who wrote (63555)	6/30/1999 12:22:00 PM
From: Freedom Fighter	Read Replies (1) of 132070

Mike, I don't really know what ended "the great depression". Most observers say it was WWII. I suspect that WWII had a greater positive impact on the U.S. after it was over because the infrastructure of a lot of the rest of world was blown up. That left us in an enviable position. No doubt the buildup also had a short term stimulative effect. But here's another observation. After years of depression, a lot of the enormous excess debt was basically defaulted on. After the worst of it there was also some upward economic progress and savings accumulation. So after a decade or so of struggling the U.S. economy had a great deal of the excesses removed. Maybe it was again healthy and ready to grow anyway. If I remember correctly the debt to GDP ratios looked awful healthy just prior to WWII. Wayne

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