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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Kevin Rose who wrote (434936)7/28/2003 8:05:20 PM
From: Peter O'Brien  Read Replies (1) | Respond to of 769667
 
Your _annual_ numbers for 1937 and 1938
hide the fact that real GDP declined by
a stunning 18% between May 1937 and June 1938.

One generally accepted yardstick for a
"depression" is a decline in real GDP that
exceeds 10%.

The 1937-1938 period certainly qualifies
as a "depression" based on that yardstick.

In comparison, from August 1929 to March 1933
there was a decline in real GDP of about 33%.


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