Brad Setser: Follow the Money � Blog Archive � More to worry about … the US downturn looks to be getting worse when it should be getting better

Brad Setser: Follow the Money � Blog Archive � More to worry about … the US downturn looks to be getting worse when it should be getting better: "Unfortunately, the fall in US industrial production is approaching the worst falls in the post-World War 2 data set. Some recessions in the past produced a sharper initial fall. But in an average post-World War 2 recession, the economy would be recovering by now — not getting worse. If things don’t improve, the current fall may match the biggest fall in the post war data. And remember, industrial production wasn’t exactly booming during the boom years of this cycle; it took an awful long time for industrial production to top its 2000 levels …"