Needless to say when I go away for more than a month, I’m going to fall behind on my semi-regular look at the world through the lens of charts and graphs.
• Let’s start with our non-recession “recession.” The jobs news last Friday—over 500,000 new jobs—virtually guarantees that we’ll be in an undeniable recession within a year. Unemployment is usually a lagging indicator of a recession, and a lot of the job market statistics these days are distorted by the peculiar rebound from COVID.
The big jobs number Friday assures that our mindless Fed will continue rate hikes until morale improves. Other current signs show the impending slowdown, such a consumer confidence, building inventories, and expectations in the crucial manufacturing sector (oh, don’t get too excited about gasoline prices starting to fall—it might not mean what you think):
• Climate change data continues to harsh the narrative:
Way to go Europe:
• Crime and (non)-punishment:
• Race and gender roundup:
• Wait—I thought Obamacare was supposed to reduce health care costs:
• These next two charts are related—the first is about taxes, the second about over-regulation:
• And now miscellaneous items:
I’m sure there is data to back this up:
And finally. . .