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It's a good thing the recession ended. Otherwise, key economic charts might look something like this.
Total Loans and Leases Percent Change From Year Ago
Total Loans and Leases
Total Revolving Credit
Total Revolving Credit Percent Change From Year Ago
State Income Tax Receipts
State Income Tax Receipts Percent Change From Year Ago
If you believe retail sales are going up because of government reports on Advance Sales, then please think again.
You owe it to yourself to read Retail Sales Rise: Where? Let's Take a Look; Expect Nothing Less Than Panic.
After you click on and read the above link, take a good hard look at that last chart and ponder the implications in regards to union salaries, school budgets, pension promises, medical benefits, etc.
Next think about what the massive wave of boomer retirements might do to boomer spending habits and future tax revenue.
Next think about the implications on consumer spending habits were tax hikes attempted to cover any shortfalls.
Then please consider just what might happen if the US stock market went sideways for five years.
Finally, please consider just what might happen if the US stock market were to mimic the Japanese Nikkei like this.
Nikkei Monthly Chart
click on chart for sharper image
But hey, not to worry, after all the recession is over, the above charts are a mere figment of everyone's imagination, and what happened in Japan cannot possibly happen here.
Or can it?
Mike "Mish" Shedlock
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