06-12-2009, 05:22 PM
Hi,
--Pete
Quote:Well, if you measure from the bottom everything looks great. The 1938 economy was still not nearly what the economy was in 1929.But the whole point is that the 1929 economy was a bubble. Which is a large part of what caused the crash. So, to expect an economy to reach the 1929 level is to ask for the whole mess to be repeated. If you want to work from a valid baseline, take the mid '20s (say 1923 to 1927); it was still a period of excessive growth, but it was at least a bit reasonable.
--Pete
How big was the aquarium in Noah's ark?