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> I'll take your bet, but you might want to look at this chart before you hand me your money. Yes, there was a serious recession in 2009. In 2010, world GDP in
by kahirsch 15y ago
> I'll take your bet, but you might want to look at this chart before you hand me your money.
Yes, there was a serious recession in 2009. In 2010, world GDP increased by 3.9%, according to preliminary World Bank figures.
- wazoox 15y agoHistorically, since WWII each rapid spike of oil prices over 2006 100$/barrel for a few months is followed with a recession one year later. If the trend stays true, 2012 will be a recession year.
- watmough 15y agoIf you define recovery as a return to the pre-recession peak income less transfer payments, we've never actually recovered. http://cr4re.com/charts/charts.html?GDP#category=GDP&chart=PersonalIncomeLessTransferJune2011.jpg http://cr4re.com/charts/charts.html?GDP#category=GDP&cha... I suspect this would resonate with a majority of Americans.
- watmough 15y agoWorld GDP in a country with fast-growing economies and slow-growing economies, is not that useful a measure. As an example, Brazil, China, India have actually been growing at rates that would be miraculous in the US, because they have labor-intensive industry and increasing oil supplies. Old countries like the US, UK, France have barely moved the needle, and are scraping by through money-printing to finance massive deficits.