Famed Economist Alan Greenspan is helping us make sense of the economic downturn and our place within it... using men's underwear.

When asked how people can determine the position of a recession, he suggested that the answer is in men’s underwear sales.

According to Greenspan, men’s underwear is the first place where people cut back during a recession. As a result, men’s underwear sales are one of the first items to increase in consumption during a period of economic recovery.

So, if a man has worn down gitch and is not replacing them, and has nobody else replacing them for him, the recession is still going strong.

Who knew?