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This Great Graphic was posted by Sober Look. It was in Barclay's research and users Haver Analytics data. It depicts the real GDP level of the US, UK and euro area.

It shows that the downturn was not as deep in the US as the other two centers. The economies generally bottomed in sync, but the US recovery has been so much more pronounced. Although a couple million fewer people are employed, US output has never been greater.

The UK economy has generally stagnated in recent years, which makes talk of a double or triple dip in the economy nonsensical. There was only one dip, from which it has yet to fully recover.

A more compelling case can be made for a double dip in the euro area. The recovery near mid-2009 ran-out of steam and it has been contracting anew for the better part of two years. Although its path has been different, and policies have been different, and the UK has its own currency, they have arrived at the same place: GDP 3-4% below the pre-crisis peak.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Source: U.S., U.K., Euro Area: GDP Relative To Pre-Crisis Peak