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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (805699)9/8/2014 10:50:59 AM
From: bentway  Read Replies (2) of 1574108
 
Reagan inherited the worst economy since the Great Depression.
Dave, it's universally recognized that the Bush Lesser Decpression that he handed to Obama on taking office, was the worst economic calamity since the Hoover Great Depression. What Reagan inherited was a DELIBERATE RECESSION, and an economy already on the mend, due to Paul Volker's raising interest rates, which Reagan wisely continued. He continued a Carter policy.
Great Depression (1929-1933) Peak unemployment 24.9%, GDP decline -26.7
Recession of 1937, peak unemployment 19.0%, GDP decline 18.2%
Current recession10.1% (U3 unemployment October 2009)17.4% (U6 unemployment - includes discouraged and underemployed October 2009)
Other US Recessions had unemployment up to 10.8%. and GDP contraction mostly in the -.03% to -5 % range but one in 1945 had -12.5% GDP contraction.
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