Private Real GDP in Recoveries
Update: Paul Krugman at Conscience of a Liberal points to Spencer England’s post in his column 8/1…Dan
I thought it would be interesting to post this chart of real private GDP in recoveries.
It clearly shows that since the great moderation we have experienced three recoveries that compared to previous recoveries were very weak. Whether this is the new norm is open to debate.
But interestingly, at this point in the recovery this measure of real private GDP is exactly the same as it was in the last cycle under Bush that Larry Kudlow called the “Goldilocks” recovery.
It’s all in the eye of the beholder. If Kudlow is the beholder, Bush is Goldilocks.
Yet the major difference between then and now is that this time around the public sector is being ravaged by austerity measures. Which makes even more ironic that Obama is painted as a big-govt Marxist tyrant hell bent on turning America into a socialist paradise. Strange times…
Hi AF,
How are you…back in the States? can u e-mail at angrybearblog at gmail dot com?
Hey Rdan-
Email sent!
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