Indeed, the last time we saw anything even approaching a 49-month double digit rate string was the 36-month string that gave us the housing boom turn bust turn Great Recession.

FORBES: The Next Great(er) Recession Now Baked In The Cake?

While this is still a startling string, we must underscore the point that for the first time in 51 months we did have to stretch our definition of double digit to keep the string going.

FORBES: US Monetary Watch, Monetary Inflation Decelerating?

The string of triple-digit losses is the Dow's first such slide since September.

WSJ: Dow Marks Third Triple-Digit Loss in a Row

Since setting a record close of 14, 000.41 just a month ago, the Dow Jones industrial average has shed 1, 154.63 points in a string of triple-digit losing days that have raised anxiety levels not just on Wall Street but on Main Street as well.

NPR: Fed Lowers Discount Rate to Calm Markets

As we have noted in past Monetary Watch commentaries, the run-up to the now infamous housing bubble turn credit implosion turn Great Recession saw a string of 36 months of double digit growth.

FORBES: Headline Monetary Aggregates for October

To put those numbers into perspective, the run-up to the now infamous housing bubble turn credit implosion turn Great Recession saw a string of 36 months of double digit growth for a cumulative increase of 48%.

FORBES: Headline Monetary Aggregates, Where We Are

As readers of the Monetary Watch are aware, the run-up to the housing bubble turn credit implosion turn Great Recession saw a string of 36 months of double digit growth for a cumulative increase of 48%.

FORBES: Monetary Watch June 2011, Inflation prospects post QE II