Tuesday, December 1, 2009

The Economic Crisis Continues

1. The US headline Consumer Price Index indicates deflation

2. A record nine million Americans, more than at any other time, are working part-time for economic reasons

3. U6, the “real” unemployment measure, has hit new highs… and, when you include workers who’ve given up on finding a job, unemployment rises to 21.1 percent

4. 33 percent of the unemployed have been looking for jobs for over six months, more than ever before

5. Available jobs continue to decrease at a much steeper rate than in an average recession… 18 million brand new jobs must be created over the next five years in order to return employment to 2007 levels

6. US consumer borrowing is grinding to a halt and personal saving has turned sharply higher

7. Prime mortgage delinquency rates are rising and are increasingly mirroring the subprime problem

8. The recovery is most likely to be a W-shaped… and we still have yet to hit even the first bottom

9. Bank lending to both consumers and businesses has fallen off dramatically

10. Money supply, as measured by M2, has stayed flat and the velocity of money is way down

11. Government tax receipts have tanked, and by almost

source and slideslow presentation

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