This graph in The Economist illustrates how bad the American housing market has become. The housing market historically hangs around 5% of the Gross Domestic Product (GDP), but the chart below shows our current doldrums.

I thought the take away line in The Economist article “The Economy’s Prospects: Waiting for the Earth to Open” was:

Whether recession is avoided will therefore depend heavily on luck and the wisdom of policymakers.

Are you feeling lucky?

You know what? For some odd reason, I think I am.