... with the combination of government support, net exports, the consumer (moderately) and now inventories, we could well see something close to 5% for current quarter growth...yes, 5% growth would be a big deal if we end up seeing it, but still totally consistent with an ongoing deleveraging depression. Go back to the 1930s — we had 10.8% real GDP growth in 1934 ... and the Great Depression still didn’t end for another eight years.
---Ibid
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