14 Landis Avenue, Vineland, NJ 08360 00-257-7013 ww.cumber.com “Are Things Really that Bad?” GIC 27 th Annual Monetary and Trade Conference April 2009 Dr. Robert A. Eisenbeis Chief Monetary Economist Cumberland Advisors
614 Landis Avenue, Vineland, NJ 08360800-257-7013www.cumber.com
“Are Things Really that Bad?”
GIC27th Annual Monetary and
Trade ConferenceApril 2009
Dr. Robert A. EisenbeisChief Monetary Economist
Cumberland Advisors
614 Landis Avenue, Vineland, NJ 08360800-257-7013www.cumber.com Chart 2
Introduction and Outline of Talk
• Press would have you believe that we are on the brink of another Great Depression
• How do we compare with previous recessions?• How do we compare with the Great Depression?
614 Landis Avenue, Vineland, NJ 08360800-257-7013www.cumber.com Chart 3
• Real GDP• Personal Consumption• Corporate Profits• Investment• Employment
614 Landis Avenue, Vineland, NJ 08360800-257-7013www.cumber.com Chart 4
614 Landis Avenue, Vineland, NJ 08360800-257-7013www.cumber.com Chart 5
614 Landis Avenue, Vineland, NJ 08360800-257-7013www.cumber.com Chart 6
614 Landis Avenue, Vineland, NJ 08360800-257-7013www.cumber.com Chart 7
• Real GDP
• Personal Consumption• Corporate Profits• Investment• Employment
614 Landis Avenue, Vineland, NJ 08360800-257-7013www.cumber.com Chart 8
614 Landis Avenue, Vineland, NJ 08360800-257-7013www.cumber.com Chart 9
• Real GDP• Personal Consumption
• Corporate Profits• Investment• Employment
614 Landis Avenue, Vineland, NJ 08360800-257-7013www.cumber.com Chart 10
614 Landis Avenue, Vineland, NJ 08360800-257-7013www.cumber.com Chart 11
614 Landis Avenue, Vineland, NJ 08360800-257-7013www.cumber.com Chart 12
• Real GDP• Personal Consumption• Corporate Profits
• Investment• Employment
614 Landis Avenue, Vineland, NJ 08360800-257-7013www.cumber.com Chart 13
614 Landis Avenue, Vineland, NJ 08360800-257-7013www.cumber.com Chart 14
614 Landis Avenue, Vineland, NJ 08360800-257-7013www.cumber.com Chart 15
• Real GDP• Personal Consumption• Corporate Profits• Investment
• Employment
614 Landis Avenue, Vineland, NJ 08360800-257-7013www.cumber.com Chart 16
614 Landis Avenue, Vineland, NJ 08360800-257-7013www.cumber.com Chart 17
614 Landis Avenue, Vineland, NJ 08360800-257-7013www.cumber.com Chart 18
614 Landis Avenue, Vineland, NJ 08360800-257-7013www.cumber.com Chart 19
614 Landis Avenue, Vineland, NJ 08360800-257-7013www.cumber.com Chart 20
614 Landis Avenue, Vineland, NJ 08360800-257-7013www.cumber.com Chart 21