State of the Union, in pictures.
Initial Unemployment Claims:
Yesterday's figure of 472,000 is heading the wrong way--up!
Figures released today show the average work week heading back down.
Unit Labor Costs:
Initial Unemployment Claims:
Yesterday's figure of 472,000 is heading the wrong way--up!
Figures released today show the average work week heading back down.Unit Labor Costs:
Wage deflation is here--which explains why big-ticket purchases are down (see below).
MBA Purchase Index:
Applications for loans for new homes are at a 13-year low.New Home Sales:
The figures for May were dismal, just 300,000 units annualized.Auto sales:
The 5.6 million units sold in the first half of 2010 are not enough to restore profitability to the industry.
TED spread [LIBOR vs. U.S. Ten-Year Bond Yield]:
Inter-bank lending has loosened up in the past few weeks, which is a positive, but...
Yield on Greek Ten-Year Bonds:
The risk of sovereign default rises as the euro fix announced in May loses credibility. The global financial crisis is not over.
Want more slides?
The Heritage Foundation has a sequence on government spending,
beginning with this one:
[click for more]
The 5.6 million units sold in the first half of 2010 are not enough to restore profitability to the industry.TED spread [LIBOR vs. U.S. Ten-Year Bond Yield]:
Inter-bank lending has loosened up in the past few weeks, which is a positive, but...Yield on Greek Ten-Year Bonds:
The risk of sovereign default rises as the euro fix announced in May loses credibility. The global financial crisis is not over.Want more slides?
The Heritage Foundation has a sequence on government spending,
beginning with this one:
[click for more]
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