Friday, January 30, 2009

Flashback: GDP will not fall below $11 trillion

I promised that real GDP would not fall below $11 trillion (year 2000 chained). That is where real GDP was at the peak of the housing boom. If we stay above that floor, real GDP is doing better than the 1981-82 recession.

As you can see below, this morning's release of 2008 Q4 does not bring the $11 trillion mark much closer.

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