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Source Data:
St. Louis Fed: Total Credit Market Debt Owed
St. Louis Fed: Corporate Profits After Tax
St. Louis Fed: Wage and salary disbursements
Real Estate Newsletter Articles this Week: Existing-Home Sales Increased to
3.96 million SAAR in October
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At the Calculated Risk Real Estate Newsletter this week:
[image: Existing Home Sales]*Click on graph for larger image.*
• NAR: Existing-Home Sales Increase...
5 hours ago
7 comments:
Here's another way to look at it.
If we had kept this ratio at a sustainable 2.5 year level that it was in 1959 then there would currently be $32.2 TRILLION less "lifeblood" in our economy.
April 14, 2009
Four Questions about the Financial Crisis
Credit is the lifeblood of market economies, and the damage to our economy resulting from the constraints on the flow of credit has already been extensive.
Here's a bonus way to look at it.
$32.2 trillion represents $228,500 per employed civilian.
I can't speak for others, but as for my share, um, well, the check is in the mail!
$32 T is an awful lot of debt , but I remember a Mr Larry Kudlow saying back in '06 that you have to put it in perspective by looking at net worth.
Lessee here :
http://en.wikipedia.org/wiki/File:Net-worth-of-the-United-States.jpg
( Oops - guess Larry missed it on that call. )
Anonymous,
I think my favorite Kudlow quote is from 2007.
Three More Years of Goldilocks?- Larry Kudlow, November 21, 2007
Candy Mountain!
this http://www.nationalreview.com/corner/153626/bush-boom-continues/larry-kudlow
is what I think shows Kudlow to be a psychic medium. Note the date.
And my most favored quote out of that nincompoop is "The Bush Boom: The Best Story Never Told." !
http://ecx.images-amazon.com/images/I/41GHWqQ2lCL._SS500_.jpg
In Hell's Kitche (NYC),
Heckling Kudlow is a recurring theme on my blog. ;)
In Hell's Kitchen (NYC),
I lost your "n"!
Sorry about that.
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