One's Observations

A collection of some things I observe along the way.

Retrieving...

In a recent Bloomberg article, "U.S. Recession Worst Since Great Depression, Revised Data Show" previously reported figures where more optimistic than the facts. Across the board economic reports have not reflected the true damage to the economy. Here are a few highlights:

"Consumer spending...decreased 1.8 percent in last year’s fourth quarter from the same period in 2007, exceeding the prior estimate of a 1.5 percent drop."

"Purchases also began sinking sooner than previously projected, registering their first decline at the start of 2008 rather than in the second half."

"Residential construction fell 21 percent during the period, almost 2 percentage points more than previously reported..."


It's rather clear the recession is not getting better. It may be drawing to a close as some are claiming but only because we are walking right into a depression.

Peter Schiff Speaks about this here:

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