The Great Recession

"Awesome" is one word for it. Note the lack of any sharp bear-market rallies this time around compared to 29-32. It's been pretty much going down like waterfalls. So don't be fooled if there's a sudden uptick - it may well mean nothing.

I love Calculated Risk! The Baseline Scenario is also a very good econ blog for following the collapse.

It's a great chart. But (I'm assuming this is calculating this in terms of USD but) I think it would be even better if it calculated it in terms of gold, so you could see what's happening, without having things distorted by inflation.

"Failure" as hoped for by some is how far down?

Oh, I think there was a very sharp drop around September-November of last year. I wonder what could have been going on in the mind of the non-"genius" but self-interested investors then?

"Failure" as hoped for by some is how far down?

Interesting comment, especially since our president has told us that we should ignore the stock market...

Meanwhile, the NY Fed, which has reliably predicted the end of practically every recession, projects that it will end in 2009:
http://mjperry.blogspot.com/2009/03/ny-feds-model-predicts-end-of-reces…