Think of the 1950-1970 trend of Real GDP as a flat red line.
What was Real GDP doing, in the years since that time?
It was going downhill.
Relative to trend, we are lower now than we were at the bottom of the Great Depression.
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See also
https://newarthurianeconomics.blogspot.com/2013/10/real-gdp-and-exponential-trend.html
on my old blog, for Real GDP as a percent of trend.
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