From the Minneapolis Fed via MR, these charts should thoroughly debunk all those ridiculous claims that the current crisis is the worst since the Great Depression.
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2 comments:
I don't think that first chart is all that comforting. If you bump the start of the current recession forward to month #8, it then tracks the angle of the "worst" line pretty closely.
The depression hasn't really started yet. At the moment we're still "running on fumes". We're like the coyote who's passed the cliff's ledge and hasn't looked down to realize he must fall.
Here's a link
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