peripato wrote:Now and I might be mistaken here . . . So far and despite all the stimulus, GDP figures are only at about 2/3rds the level they were before Q4 2007
LOL, yes you are mistaken! You didn't even bother checking any facts before you stated what you thought was a fact.
So here ya go, here are the facts:
Click here and select 2007 as the initial year, then press Update. Please note that this is real (inflation-adjusted) GDP.
The apex of real GDP before the recession was in Q4 2007 when it reached $13,363.5 billion.
As of this initial estimate of real GDP for the last quarter, GDP was $13,216.5 billion.
That's a difference of $149 billion, or 1.1%.
I repeat: Real GDP as of last quarter was 98.9% of its reading at the apex prior to the recessionary decline. So much for 2/3!