Tuesday, January 12, 2010

think its bad? its probably worse than you think…

excerpted from Not a Positive Economic Picture

…one way to get a sense of where things stand is to look at how things are playing out relative to the past. On that basis, the notion that the economy is back on track leaves a lot to be desired.
To cite one example, Calculated Risk regularly updates and publishes a chart, "Percent Job Losses in Post WWII Recessions," which reveals that the current pace of job losses is more severe and persistent than during all prior postwar downturns.
EmploymentRecessionsDec

Another chart featured in a recent report by the Rockefeller Institute of Government, "Recession or No Recession, State Tax Revenues Remain Negative,"  paints a similarly disturbing picture of the recent trend of real -- inflation-adjusted -- retail sales.

Rockefeller

In fact, using data from Bloomberg, I put together several graphs that show how key economic indicators -- including new home starts, industrial production, durable goods orders, and consumer credit outstanding -- have fared during every downturn -- including the present one -- since April 1960.

see remaining charts and continue reading “Not a Positive Economic Picture”…

2 comments:

  1. glenn beck used that same chart above, but refers to the post war recession as the "great depression" watch it:

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