If you’ve been surfing the economics blogosphere recently, you’ve likely seen charts of various economic indicators pointing towards a recession. Forthwith, my (growing) collection. Lots more of these out there. If you’ve got one to add, send it our way:
YoY change in unemployment, by month. From the NYT:
Credit Card Trends, (via the NYT, hat tip Mish):
Manufacturing sentiment. The Philadelphia Fed’s general economic index:
Money Supply (using the “M Prime” calculation of the Von Mises Institute, again thanks to Mish). Check out that link for a full explanation of the M Prime money supply calculation. Fascinating read.
Housing Starts and Completions (hat tip CR):
The Philly Fed’s calculation of states with increasing activity. Thanks to CR.
I beleive in the free enterprize system.
I beleive in a free USA.
I do not beleive the government has the right to tell me what I can and can not do.
But, in all societies, laws and regulations are needed to protect the people from others hurting them. I can not buy a Farrari and drive it 200 MPH down the interstate for laws and regulations prohibiting it due to the fact I may injure someone or worse.
The Glass Steagall Act was created to keep the banks from risk of lossing depositors money and also from a faulse market inflation.
Seems the regulations worked just fine until Clinton and his administration decided to remove the banking “safety net” and at the same time enact the houseing revitalization act.
This was a receipt for disaster and thats what we have now.
Pouring $$$ into a boat with hole does not work.
The holes need to be fixed before we can stop the leak.
The whole world (consumers and governments)has lost its confidence in the USA’s ability to to regulate the actions of the criminals that made the loans, (housing act) bundled bad loans and sold them for more than they were worth.
As for the comment about we should not be like Russia and nothing needs to be regulated by government, Im sure your doors at your home are never locked and anyone can come and take anything you have, at will, and you dont mind.
Or do you depend on laws and regulations to prevent this?
The repeal of the Glass Steagall act did just that. Our government allowed the criminals into your bank account, use your money to invest in the stockmarket with you having a say.
Bill Clinton also signed the Commodities Futures Modernization act of 2000 which allowed the AIG’s to trade without regulations.