GDP Data, US, 1990-2010
I should of course state that by habit, I do sometimes label the names of the presidents in office during the periods mostly to give us an easy reference. However, I of course admit that as much as I might admire some or all of them, I am aware that these presidents do not make a darned thing - You do. (My idea of humor). As for how much a President, or the Congress, or that combination of the two (lame duck versus total control) can influence industry and GDP, I will leave up to you. Politics is not my goal here.
However, getting back to the graph. Going up is good of course. And in general, the graph does go up except for the 2008, 2009 recession crash that we attribute to the US housing crash. At this time the GDP graph is still going up. But one can question, well, what is good here? Lately China seems to be the new mark to watch. Recently China GDP passed up Japan (as I understand it) as the second highest GDP in the world. Furthermore, China GDP is currently said to be increasing at 10% per year - which is a very rapid climb. While US GDP is going up still, the numbers I have heard is that it has dropped from 5% upward to 3% upward, and is now about 1.6% improvement. So this means, we are doing somewhat good in the US after this recession, but unless we do better, it is just a question until China GDP catches up and passes the US.
GROWTH RATE AND RECESSIONS
I have been looking at some US data and graphs for a while, and of course one develops opinions. It seems that there are two things going on in many graphs that include this GDP graph - which include rate of growth and also recessions. The recessions of course have interested me since I often seem to see an upward going graph that hits recessions and drops like a rock, but then restarts and rebuilds. And a person of course wonders - what causes each of these? My opinion may be controversial, but it does seem to me that what gives us recessions and what fixes it are mostly two different things. I do believe that Government and or Companies (sometimes via the stock market) cause the recessions. And sometimes it is hard to find the person who did it to admit it of course. But the recovery I think is honestly entrepreneurial America - people and company leaders who say, "enough - I am going to take a chance again and start to rebuild". And so on some graphs I see recessions being a fast drop, and then right after, is the steady rebuild - and the rebuild rate indicates a process rather than someone pulling a switch. And yes, of course, I do agree that Government can influence the speed of recovery by the amount of taxes or tax relief and regulations. But it is my opinion that CEOs and private America do the rebuilding after the recessions. And yes, I admit that that is just my opinion.
One of the better explanations of the 2008-2009 US recession was from a blogger in India - Yes, really! And I will give that link HERE. I believe his discussion is good but also is an overall higher up viewpoint. The good news is that it does include how Asian financing may have contributed to it by giving the US money. The weak point is that no, it does not tell us if junk mortgages started mostly in Industry Banks or really began in the Government Controlled Fannie Mae and Freddie Mac. Maybe, that will be hard to find out.