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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: John Graybill who wrote (116321)8/9/2001 2:15:46 PM
From: Ilaine  Read Replies (1) of 436258
 
The decrease in household net worth in 2000 is basically due to the stock market. If you back out equities, household net worth increased. And even counting equities, it's still higher than 1998.

I don't have similar data for the Great Depression, but from 1929-1930, GDP dropped 12%; from 1930-1931, GDP dropped another 16%; from 1931-1932, GDP dropped another 23%; and from 1932-1933, GDP dropped another 4%. Total drop in GDP from 1929 to 1933 was 46%. That's what a real depression looks like.
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