The Great Wall Street/Washington Con Job: The “Recovery” That Never Happened, Part 1
Between 1870 and 1913, the real GDP of the United States---as best they can estimate it----rose from $20 billion to $131 billion (1958$). That gain of 4.3% per annum compounded over 43 years is the highest on record for a continuous equivalent period of time. But here's the wonder of it. During that golden age of growth and prosperity, the US had no central bank and not even one episode of fiscal stimulus!