Read the last paragraph carefully….
Just where are we going to increase industrial production? China? We gave our industry away, remember? Heh heh
Of course we can always take over a small oil producing country. I’m ready.
America’s national output plunged for four straight years, 1930-1933, with a total drop in dollar value of some 50%, because of a combination of lower volume and falling prices (deflation).
The massive federal spending of Franklin D. Roosevelt’s New Deal caused the gross domestic product (GDP) to rise from 1934 through 1937. Then the nation was shocked by a severe relapse (the “Roosevelt Recession”) that saw national production fall in 1938. The Great Depression was finally ended not by the New Deal, but by rising U.S. industrial output in 1940-1941 to aid our allies in Europe, under assault by Adolf Hitler.