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Summary

  • Displays ten long-term charts.
  • Charts depict various aspects of the economic situation.
  • Briefly comments upon the significance of these charts.

Please note this post is the latest update to a series of articles, the last being "10 Scary Charts: April 16, 2014 Update."

I find the following charts to be disturbing. These charts would be disturbing at any point in the economic cycle; that they (on average) depict such a tenuous situation now - 61 months after the official (as per the September 20, 2010 NBER BCDC announcement) June 2009 end of the recession - is especially notable.

These charts raise a lot of questions. As well, they highlight the "atypical" nature of our economic situation from a long-term historical perspective.

All of these charts are from the Federal Reserve, and represent the most recently updated data.

The following nine charts are from the St. Louis Federal Reserve:

(click on charts to enlarge images)

Housing starts (last updated 6-17-14):

(click to enlarge)

The Federal Deficit (last updated 3-14-14):

(click to enlarge)

Federal Net Outlays (last updated 3-14-14):

(click to enlarge)

State & Local Personal Income Tax Receipts (% Change from Year Ago)(last updated 3-27-14):

(click to enlarge)

Total Loans and Leases of Commercial Banks (% Change from Year Ago)(last updated 7-11-14):

(click to enlarge)

Bank Credit - All Commercial Banks (% Change from Year Ago)(last updated 7-11-14):

(click to enlarge)

M1 Money Multiplier (last updated 7-3-14):

(click to enlarge)

Median Duration of Unemployment (last updated 7-3-14):

(click to enlarge)

Labor Force Participation Rate (last updated 7-3-14):

(click to enlarge)

This last chart is of the Chicago Fed National Activity Index (CFNAI, and its 3-month moving average CFNAI-MA3) and it depicts broad-based economic activity (last updated 6-23-14):

I will continue to update these charts on an intermittent basis as they deserve close monitoring.

Source: 10 Scary Charts: July 16, 2014 Update