Sunday, February 08, 2009

The journey to Big D

No I'm not talking about that mecca of pro football, I'm talking about the other Big D - Depression.

The IMF's Managing Director said yesterday that many advanced economies are already in the midst of a Depression.

"Stimulus packages alone won’t succeed in dragging the global economy out of recession unless confidence is restored in the banking system, Strauss-Kahn said today."

I'm not sure I'm ready to call this a depression, but I think it's safe to say we're in unchartered water. No one in any major policy position has lived through an economic crisis of this sort. We can't treat this like 2002, 1991, 1982, 1974, etc, etc.

Consider this chart that shows job losses through our last two recessions.


Cool website of the day - I'm not exactly sure how they pull the demographic info, but if you've ever wondered who visits a certain website (NY Times, Fox News, etc), this is cool tool. What I find most interesting is the frequency data which highlights the "addicts" and the passers-by. It makes for some interesting reading... Particularly data on a local favorite that gets 58% of its traffic from just 10% of its "addicts".

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