Rather than having a short sharp recession that clears the way 4 growth, Fed traps us in malaise $ $ May 02, 2013 (alephblog.com)
It says the U.S. economy is weaker than the headline numbers indicate because the sharp recession of 2008 - 2009 has thrown seasonal - adjustment factors out of whack and they are inflating the smoothed, annualized growth numbers for output, employment, income and sales. (canadianbusiness.com)
The sharp recession of 1937 - 1938 had destroyed the last hopes of some of the most stubborn optimists that 1932 was only a traditional crisis and that the United States would, as always, recover to resume its climb to new heights of prosperity... When the war ended, some people thought that the Treasury would not always be offering as much as 2.5 %. (capitalwealthadvisors.com)