Philly Fed Manufacturing, home sales, miles traveled
Post-war collapse theme intact: Falling back to the pre-Covid war trend line: We’re back burning fuel with abandon:
May 19, 2022
Post-war collapse theme intact: Falling back to the pre-Covid war trend line: We’re back burning fuel with abandon:
Not growing when adjusted for inflation: Down but still high vs historical data: Trend still intact: Trend still intact:
2008 type of collapse: Lowest ever: Saudi OSPs are still at premiums to fair market value, and the price trend is still up. If it
Not good: This is the automatic fiscal stabilizers doing their thing to slow things down during a recovery, and they keep increasing the pressure until
My take is we’ve had a one time upward adjustment in prices due to increased costs from Covid-related supply issues, along with supply side disruptions
Employment generates income and spending. The gap vs the pre-covid path is closing at an ever slowing rate. And the cost of living is rising
This series keeps drifting lower as personal income isn’t keeping up with price increases: And the economy itself isn’t growing real personal income the way
Typical post war recession type of outcome, as previously discussed: One reason for the low unemployment in the US is that for a lot
A bit of an uptick but still trending lower: Sales going sideways on an inflation adjusted basis: This sector seems to be doing ok: Not
This component is going nowhere: Still trying to catch up from the oil capex collapse of 2016 and covid collapse: Not good: This is an