Via Calculated Risk, here’s a chart from financial planner Doug Short comparing the current collapse to three predecessors: the U.S. from 1929 forward, Japan from 1989 forward, and the U.S. tech bubble crash. This is what “prolonged L-shaped recessions” of the sort we’ve been hearing about lately look like.
Writes Short: “Over the past few decades, equity markets in the U.S. have had an extended bull run. These charts remind us that bear markets can last a long time. And it’s not necessary to go back to the Great Depression for an example.”