Saturday, May 4, 2024

Why it feels like a depression



 Because average annual real GDP growth rates are so low.

Between 1929 and 1945, average annual real GDP grew at a compound annual rate of 4.74%.

Between 2007 and 2023, average annual real GDP grew at a compound annual rate of 1.82%, which is under-performing the sixteen year Great Depression and WWII era rate by almost 62%.

Up until 2007, the country averaged 3.44% from 1929. 

Something remains rotten in Denmark.