COMPARATIVE RECESSIONS. Here's a chart from Tom McMahon.


Here's another one, from King Banaian.


King has been suggesting the 1982-1983 recession (it was the second dip of a double-dip that began in 1979) is the historical example most like today's. Clearing out the excess of multiple bubbles is different, however, from clearing out the excess of monetary and fiscal stimulus rendered messier by those mid-1970s wage and price controls.