what an amazing coincidence......just as the nations of Europe are seized by Germany and production of everything except German war materials is shut down in total, the American GDP increases dramatically because FDR is our president....think how much more our economy might have been stimulated if our factories had also had to compensate for all the lost production of a continent at war.......(sarcasm alert)
WWII began in 1939, 6 years after FDR took office. HOW do you explain THIS?
The basic economic facts from the 1930s—according to the Department of Commerce, the Federal Reserve, and other official sources. The monthly data for industrial production show a near three-year collapse under President Hoover, ending when FDR came to office in March 1933. Production rocketed by 44 percent in the first three months of the New Deal and, by December 1936, had completely recovered to surpass its 1929 peak.
GDP, only available as annual averages, plunged 25.6 percent from 1929-1932, including by 13.0 percent in 1932. It stabilized in 1933, and then soared by 10.8 percent, 8.9 percent and 12.0 percent, respectively, in 1934, 1935 and 1936. Real GDP surpassed its 1929 peak in 1936 and never again fell below it. After-tax personal income, consumer spending, real private investment and jobs all reached or surpassed their 1929 peaks by late 1936.
In fact, like every decade between 1850 and 1990, the 1930s suffered two distinct downturns. The official U.S. Business Cycle Dating Committee established that the downturn that began in August 1929 ended in March 1933 with the remarkable economic expansion that started within days of FDR’s bold—if trial and error—New Deal programs. By any normal definition, the Great Depression had ended by late 1936, with all major indicators surpassing their previous peaks.
