Nathan Martin has posted an article well worth reading and Karl Denninger has followed up on it as has Business Insider.
In the article titled "THE Most Important Chart of the CENTURY" Nathan has this chart:
And here is what it looked like in 2008
I wasn't sure how he produced this chart and only seeing it from one source was skeptical. However Karl Denninger has put up a post today with the same chart so it must be accurate.
We still have time to choose between bad and horrifically awful. We can choose between recognizing the Depression we are already in (private GDP has contracted by more than 10% from the peak, which is the definition of economic Depression) or we can risk Zombieland or Mad Max becoming reality. - KD