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In follow up to last week’s blog about the Century Management comparison of the current recession to that of the Great Depression it was announced Friday that the GDP (Gross Domestic Product) declined at a seasonally adjusted rate of 6.2% for the fourth quarter of 2008 rather than the 3.8% initially reported. This is the worst decline since 1982. I decided to research the GDP decline a little more and found that industrial production declined 47% and real GDP fell 30% from peak to trough according to Christina D. Romer in an article for the Encyclopaedia Britannica. Fortunately this is certainly a far cry from today’s decline.