Maybe we didn't really avert another Great Depression

A rain Friday isn't the only reason for a gloomy mood. Buried beneath the shocking and horrific news about the movie theater shooting in Colorado are pieces of economic news that point to another coming economic meltdown.

First, citing a series of numbers including retail sales and jobless claims, analysts at Comstock Partners said, essentially, we're clearly headed for another recession. The evidence is pretty strong.

Amazingly, they present a strong case without even touching on the implications of excessive drought that is withering crops across the nation's breadbasket. Sure, a poor crop will drive up food prices, but don't forget our nation's rush to embrace ethanol. That makes the drought a very sharp double-edged sword.

The Euro Zone continues to falter with Greece, Spain and Italy leading its descent to the bottom and the seemingly one bright economic spot in the world, China, has some real estate market problems that could result in a hard landing for the once-seemingly invincible economy.

All in all, it appears 2012 is going to close with a rather sad whimper rather than a bang.