Empirical Evidence The Crisis is Accelerating
Here is empirical evidence that the crisis is accelerating despite the government intervention:
Industrial Production: March revised IP declined 12.8% vs a 11.8% in February. Q1 of 2009 IP Plunged to 20% compared to 11% in Q4 2008. Retail Sales decrease accelerated in march to 9.01% from 7.95% in Fedbruary.
Trade Deficit: Narrowed less then the drop in industrial production, this may show up as a positive on the gdp but those not familiar with the calculation should know it is very arbitrary. (for example if we go out and riot and destroy buildings, the cost of rebuilding will be included in GDP, even though there was no growth).
Unemployment- We all know it increased, thus needing no further explanation The CPI actually grew at a 2.6% annual rate if you calculate the way it was calculated pre-1990 and 7.5% using the 1980 calculation.
Those who have read some of my posts know I have a strong conviction that the Austrian School of thought is the only real economics. The massive amounts of dollars being printed which will become an inflationary depression, which this is beginning to show. It is impossible to avoid a severe stagflation and now is the time to buy gold/