{make of it what you will}ACHUTHAN: Look At These Charts And Tell Me We're Not In Recession

http://www.businessinsider.com/ecris-achuthan-reiterates-recession-call-2013-3

He begins by looking at what gross domestic product (GDP) and gross domestic income (GDI) are telling us. First, GDP:
As it happened, in January 2013 there was a negative GDP print, consistent with our belief that the recession had begun around mid-2012.

Here we have a chart of year-over-year nominal GDP growth which, after last week’s revision of real GDP growth from -0.1% to 0.1%, is still down to 3.5%.

This chart begins in the early 1980s. Based on the full 65 years of historical data, nominal GDP growth below 3.7%, which is marked off by the horizontal line, has always occurred in a recessionary context – without exception.

This chart is consistent with a mild recession. Yet, we have all heard lots of commentary that we’re in a “2% economy” – not that great, but as long as the economy stayed above recessionary stall speed it would be okay.