New York Times Crashed-and-Burned-and-Smoking Watch
Krugman, Fox, McCain, Prescott, and Company

I See One-Third of a Great Depression...

By the employment-to-population ratio metric, the recession is now twice as deep as any post-1960 recession. At 59.2%, the employment-to-population ratio stands 4.1 percentage points below its December 2006 cyclical high--and 5.5 percentage points below its April 2000 alltime high.

We are at 1/3 of a Great Depression right now, and are going to go higher.

And there is this: