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How are we doing relative to the long-term exponential trend?
Click to enlarge.
It could be worse I suppose. At least we're still in the declining trend channel.
Source Data:
St. Louis Fed: Industrial Production Index
Philly Fed: State Coincident Indexes Increased in 45 States in February
(3-Month Basis)
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From the Philly Fed:
The Federal Reserve Bank of Philadelphia has released the coincident
indexes for the 50 states for February 2025. *Over the past thre...
2 hours ago
3 comments:
I've got naming remorse.
I really should have called myself Stagnationary Mark. Oh well!
Although the price of oil is high, these charts imply that we have a lot more in common with the Great Depression than we have with the 1970s.
But but a gazillion financial products were manufactured in the last decade. OTC derivatives alone manufactured a quadrillion. If industrial production were expanded to include these very valuable "products" it's way positive. Cheer up: with the right metrics it's a Goldilocks economy!
dd,
Yes! Yes, indeed! Very "valuable" products!
Wink, wink. Nudge, nudge.
Have no fear. I'm definitely cheered up. Even if the entire global economy falls apart again, I shall still have this sarcastic memory to cherish, lol.
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