Friday, June 4, 2010

Economic News and Data Analyses

From
"Into the Abyss"
"The major problems facing the US economy today—a tsunami or debt defaults, structural unemployment, massive government budget deficits, a contraction of the broad money supply outside of the federal government and the financial system, and a lack of sustainable growth—cannot be addressed as long as excess debt levels are maintained..."
http://beforeitsnews.com/news/71/318/Into_the_Abyss:_The_Cycle_of_Debt_Deflation.html

From Ed Harrison at Credit Writedowns (visit his homepage for full details):
http://www.creditwritedowns.com/2010/06/why-its-not-a-normal-recovery.html
1) "While April retail sales were up 9% from the early 2009 low they are still 3.6% below the peak reached 2 1/2 years ago in November 2007...

2) April industrial production (IP) was 6.8% over its March 2009 trough, but still 9% below the late 2007 peak...

3) New orders for durable goods in April were up 21% from the low of March 2009, but still 22% below the top in December 2007...

4) Initial weekly unemployment claims for the latest reported week are 453,000. Claims steadily declined from 651,000 in March 2009 to 477,000 by Mid-November, but have been range-bound with no improvement in the last 6 ½ months...

5) April new home sales were up 14.8% from a month earlier and are up a seemingly robust 48% since the low. However, the current number is still a whopping 64% below the 2005 monthly peak...

6) Existing home sales in April were up 27% from the low in late 2008, but still 20% below the peak in late 2005...

7) May vehicle sales of 11.6 million annualized were up 14% over the prior month and 26% from the trough. However, this remains far below the annual average of about 16 million vehicles in the decade starting 1997.

9) Payroll employment in April increased 290,000, leaving the total still 7.8 million jobs below the pre-recessionary peak. In fact, on a point-to-point basis no new jobs have been added since November 1999..."



Read more: http://www.creditwritedowns.com/2010/06/why-its-not-a-normal-recovery.html#ixzz0puPBfVGL

No comments:

Post a Comment