We’re about to get some bad news about the US economy a bit later Friday.
The Bureau of Economic Analysis will release its second estimate of first-quarter gross domestic product. It’s expected to show that the economy contracted 0.8% in the first quarter.
But the US isn’t the only country with less-than-ideal stats. In fact, recently we found out that Greece is in a flat out recession.
And, to put it in perceptive, Greece’s current economic nightmare is so bad that it’s actually worse than the US Great Recession.
Check out this chart that RBS Economics tweeted. It shows the trajectory of GDP indexed to just before things got bad in the US during the 1920s and in Greece just a few years ago.