What's with all the gloom about the U.S. economy? The problem is that we have two problems. One is that the economy is slouching toward recession or, at best, slow growth. It's the consequence of falling house prices, higher energy prices, flagging consumers and shrinking profits.
That about sums it up. Here are some corresponding charts:
Home Prices:
Higher energy prices:
Prices at the pump:
Corporate Profits:
Retail sales:
