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:
4 comments:
'Two problems' - we seem to have multiple problems, maybe I am reading this too early. TIA
yes, what's the second problem the WSJ mentions and does it, as their lead-in question suggests, somehow mitigate the first?
Maybe it's just me, but don't you think it's about time for a bit of slowdown in the growth of corporate profits!
Yet stocks are going up, up, up! Almost erasing the "correction" from early November.
Employment numbers are up too (for now.)
And yet housing is in dire straits. Inventories are up. The Xmas season's is shaping up to be a bummer. All the traditional pre-recession warning signs are there, and yet...
Something's really not right here.
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