Wednesday, July 21, 2010

Employment on a slippery slope

This chart, courtesy of, is the scariest depiction of the current cycle and what makes it different.

Employment Recessions June 2010


I will provide my “animal spirits” view on the double dip issue soon.  I think we are looking at a long, agonizing slide into depression.  I don’t see the pronounced failure of “animal spirits” that is the hallmark of a recession yet—just a very, very sick economy not getting better.

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