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Click to enlarge.
I have added a parabolic trend in red covering the recovery. Why a parabola? Well, let's just say that an exponential growth trend just doesn't fit the data all that well. This begs a question. Wasn't ZIRP supposed to prevent upside down parabolas from forming?
February 21, 2013
A Phoenix Housing Boom Forms, in Hint of U.S. Recovery
The housing market in Phoenix presaged and magnified the collapse in real estate. Now its recovery could reveal much about the prospects for a nationwide turnaround.
Using similar logic, one wonders what this recovery failure could foretell.
Full moon is rising
The sky is black
I heed your call I'm coming back
The sky is black
I heed your call I'm coming back
Source Data:
St. Louis Fed: Custom Chart
2 comments:
The recovery seems to have shifted from producing gains
to protecting gains. Not a good sign for the bottom 80
percent.
Anonymous,
We need a Producer Protection Index, but PPI is already taken.
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