Thursday, September 13, 2012

Three Scary Charts from the Latest EU 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.