(Please note this post is the latest update to a series of articles, the last being on February 27.)
I find the following charts to be disturbing. These charts would be disturbing at any point in the economic cycle; that they depict such a tenuous situation now - 35 months after the official (as per the 9-20-10 NBER 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. I regularly discuss many troubling characteristics of our economy in this EconomicGreenfield blog.
All of these charts (except one, as noted) are from The Federal Reserve, and represent the most recently updated data.
The following 8 charts are from the St. Louis Federal Reserve:
Housing starts (last updated 4-17-12):
(Click to enlarge)
The Federal Deficit (last updated 2-13-12):
(Click to enlarge)
Federal Net Outlays (last updated 2-13-12):
(Click to enlarge)
State & Local Personal Income Tax Receipts (% Change from Year Ago)(last updated 3-29-12):
(Click to enlarge)
Total Loans and Leases of Commercial Banks (% Change from Year Ago)(last updated 5-7-12):
(Click to enlarge)
Bank Credit - All Commercial Banks (% Change from Year Ago)(last updated 5-7-12):
(Click to enlarge)
M1 Money Multiplier (last updated 5-3-12):
(Click to enlarge)
Median Duration of Unemployment (last updated 5-4-12):
(Click to enlarge)
This next chart is from the CalculatedRisk.com blog post of 5-4-12, titled "April Unemployment Report: 115,000 Jobs, 8.1% Unemployment Rate" and it shows (in red) the relative length and depth of this downturn and subsequent recovery from an employment perspective:
(Click to enlarge)
This last chart is of the Chicago Fed National Activity Index (CFNAI) and it depicts broad-based economic activity (last updated 4-26-12):
(Click to enlarge)
I will continue to update these charts on an intermittent basis as they deserve close monitoring…
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
