The Great Recession update

As I have said before, the folks over at Calculated Risk do a great job informing us with graphs.  They have updated one of their graphs (see below - click to enlarge -  and see here for more).

They comment as follows:

When the Great Recession is compared ... to the Big 5 financial crises and the U.S. Great Depression ... the current cycle actually compares pretty favorably. This is likely due to the coordinated global response to the immediate crises in late 2008 and early 2009. While the initial path of both the global and U.S. economies in 2008 and 2009 effectively matched the early years of the Great Depression – or worse – the strong policy response employed by nearly all major economies – both monetary and fiscal – helped stop the economic free fall.