CHART OF THE DAY: We're On The Depression Path

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If you look hard enough, you can find some green shoots, but here’s the truth. The decline in world industrial output is tracking very close with what we saw during the Depression. This chart was put together by economists Barry Eichengreen and Kevin O’Rourke, as part of a broader study comparing this downturn with the Great Depression. The good news, they say: The policy response has been much better this time around.

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