Anything that starts with "We are now in the early stages of a depression" is a must read. (Sprott Asset Management pdf file)

via Zero Hedge

http://zerohedge.blogspot.com/2009/07/sprott-its-real-economy-stupid.html

US Housing Market Failure:

The annual pace of new home sales is now 342,000, a whopping 32.8% below the rate in May 2008. At the current sales pace, there is 10.2 months worth of inventory overhang sitting on the market, dragging down prices and encouraging potential buyers to wait it out as prices deflate...

New home sales are down 73% from the all time high of 1,283,000 new homes sold in 2005 (mild recession?)...

Rail Car Loadings Suffering:

For the first 26 weeks of 2009, US railroads reported cumulative volume of 6,806,892 carloads, down 19.2% from 2008.

Stock Market

...at the end of June 2009, the S&P 500 traded at an inflation adjusted P/E ratio of 16.08

And now the Democrats want to destroy healthcare by

"It's the Spending Stupid"

It is not a deppression or any other "ession" what is being witnessed here is total economic collapse.