Saturday, April 25, 2009

Recession, Far From Over, Already Setting Records

http://www.nytimes.com/2009/04/25/business/economy/25charts.html?_r=1
Comparison to 73-75 recession is misleading - that was a real recession as it caused by rising interest rates. This one is entirely different - its root cause is debt unwinding. The 30s is really the close relative to this one.