Today, Census Bureau data came out detailing the year-on-year changes in retails spending. It was the worst year they have on record, a real decline of over 11% in retail sales nationwide in 2008.
Calculated Risk: Retail Sales Collapse in December
So, I blogged awhile ago that we were entering just the eye of the storm and [...]
Tags: Economics
It’s about time that this has been officially stated. For those who have been thinking that the economy has been sucking since before August, you were right!
NBER: Determination of the December 2007 Peak in Economic Activity
This also begins to explain why foreclosures starting happening en masse at the beginning of last year and it bringing [...]
Tags: Economics
I’m of the belief that the current blipping is the eye of the storm and we have more room to fall as the recession beats us down over the next year. I love graphs.
Tags: Economics
