Statistics Say It’s a Depression

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kass47's picture
Status: Member (Offline)
Joined: Aug 6 2008
Posts: 11
Statistics Say It’s a Depression

John Williams' at makes the following statements on January 16, 2009 in a flash update:


“The annualized real contraction for fourth-quarter 2008 retail sales was 17.1%”“Consistent with a still-deepening recession, fourth quarter 2008 production showed an annualized quarterly contraction of 11.5%, following an 8.9% contraction in the third quarter.”“ A depression is defined [by] as a recession where peak-to-trough contraction exceeds 10%, a level currently exceeded in annualized terms by both fourth-quarter real retail sales and industrial production.”

pinecarr's picture
Status: Diamond Member (Offline)
Joined: Apr 13 2008
Posts: 2259
Re: Statistics Say It’s a Depression

Hi kass47.  Yes, it seems like all of a sudden a few different people I consider reputable are talking depression.  I know someone here posted that Mish called it a little while back.  And Martin Weiss from is calling it the 2nd Great Depression.  It is interesting to have someone like John Williams at shadowstats.con call it as the real thing, based on his more realistic data and statistics.

I told my husband the other day about Mish claiming we were now in a depression, thinking to get a surprised response from him.  His response: "Ya think?!" :)   

I have to say, it FEELS like the makings of a depression already; worse than our past recessions, and with much more ominous of an outlook.

Thanks for sharing the news!

RubberRims's picture
Status: Silver Member (Offline)
Joined: Nov 22 2008
Posts: 145
Re: Statistics Say It’s a Depression

Alternative sources of news offering perspective you won’t find on Reuters. Being that I don’t live in the US and the media likes to be conservative with the truth. What do you think this chap on YouTube is spouting about? Because it looks like the beginnings of a depression!

I also thought I would throw this in for melodramatic effect. However real it may or may not be, befor some people think otherwise read on. 

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