John Williams - Consumers Crushed & Economy Collapsed

``Williams illustrated how much the US economy has collapsed over the years:  "Deflated accordingly, the real (inflation-adjusted) new orders for durable goods level in February 2012 was 9.8% below the pre-2001 recession peak, on a six-month moving-average basis.  With no smoothing, the monthly level in February was 17.7% below the pre-2001 recession peak." ''