Doug Henwood: GDP etc. in a deep funk: “By the way… here’s a graph of actual real U.S. GDP and its major components relative to their long-term (1970–2007) trendlines through the end of 2013. Note how things fell off a cliff in the recession. GDP, consumption, and government spending are all about 15% below where … Continue reading Afternoon Must-Read: Doug Henwood: GDP etc. in a Deep Funk