David Rosenberg: Top 10 Signs We're in a Depression... Now

Tweet

Henry Blodget describes some of economist David Rosenberg's concerns, from which I selected the ten worst indicators. If I didn't know better, I'd think the economy was racist.

10. Industrial production is still down 7.2% from the peak

9. Employment is still down 5.5% from the peak

8. Retail sales are still down 4.5% from the peak

7. Exports are still down 9.2% from the peak

6. Manufacturing orders are still down 22.1% from the peak

5. Manufacturing shipments are still down 12.5% from the peak

4. Housing starts are still down 63.5% from the peak

3. Existing home sales are still down 41.2% from the peak

2. New home sales are still down 68.9% from the peak

1. Non-residential construction is still down 35.7% from the peak

Say, you know what would really help the economy? Iran getting a hold of nukes!