Friday, July 2, 2010

Flip Charts

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:

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]

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