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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Freedom Fighter who wrote (63560)	6/30/1999 1:19:00 PM
From: Mike M2	Read Replies (1) \| Respond to of 132070

Wayne, IMO WWII is the single biggest factor in ending America's Great Depression. unemployment remained high 15-20% range even in the late 30's . This is not to say that we would not have eventually recovered but the wartime economy was a major accelerant to the process. On the History Channel I heard that US industrial output doubled from 1940 -4 and the US produced 40% of the world's armaments ( I assume they meant Axis & allied combined). I can't recall the year but I think US output did not reach 1929 levels until the early 40s. While some of the necessary liquidation of debt and capacity ( financial & industrial tough love)had occured I would not agree that the US was staged for recovery. Your point about the Us being the only major industrial power to emerge from WWII with its industrial base not only in tact but augmented is an excellent one that I point out to others when considering the long term performance of the US economy. This was a one time ( hopefully) positive influence from an economic perspective. no Steve I don't look forward to wars but economic ruin does seem to promote wars. Mike