Old Man Cap

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 [...]

[Read more →]

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 [...]

[Read more →]

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.

[Read more →]