Overall monetary growth is incredibly weak and is at levels associated with recession.
Employment is clearly moving in the wrong direction.
Sunday, September 9, 2012
Three Very Scary Charts From the EU's Monthly Report
Every month, the ECB releases a report on the overall EU economy. In looking through the latest report, there are three charts that really jump out for their negative implications.
Overall monetary growth is incredibly weak and is at levels associated with recession.
Loans are not not being made -- and have not been made to many people for the duration of this expansion. Also note the overall negative reading of consumer credit for the last few years -- that is definitely not good.
Employment is clearly moving in the wrong direction.
Overall monetary growth is incredibly weak and is at levels associated with recession.
Employment is clearly moving in the wrong direction.
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The last chart is the one I find especially scary. Unemployment is skyrocketing but the job vacancy rate is staying about the same. That implies a lot of businesses are either cutting to the bone or going under, which means it's going to be even harder to bring down that unemployment rate. Demand: we don't haz it.
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