{"id":357,"date":"2009-06-01T11:24:00","date_gmt":"2009-06-01T11:24:00","guid":{"rendered":"https:\/\/clusterfamilyoffice.com\/blog\/?p=357"},"modified":"2009-06-01T11:24:00","modified_gmt":"2009-06-01T11:24:00","slug":"red-states-of-america","status":"publish","type":"post","link":"https:\/\/clusterfamilyoffice.com\/en\/red-states-of-america\/","title":{"rendered":"Red States of America."},"content":{"rendered":"

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The speed and severity of the economic downturn during this crisis are truly staggering. It does not bode well. In the previous charts from the Federal Reserve Bank of Philadelphia,<\/a> We can see that virtually the whole of the United States is already falling by more than -1% on a coincident index which is based, verbatim, on the following calculation criteria:<\/p>\n

\u00abThe coincident indices combine four state-level indicators to summarise current economic conditions in a single statistic. The four state-level variables in each coincident index are non-farm payroll employment<\/span>, average hours worked in manufacturing<\/span>, the unemployment rate<\/span>, and wage and salary payments<\/span> adjusted for the consumer price index (U.S. city average). The trend for each state\u2019s index is aligned with the trend in its gross domestic product (GDP), so that long-term growth in the state\u2019s index matches long-term growth in its GDP.\u00bb<\/p><\/blockquote>\n

If you\u2019d like to look further back at the monthly maps, you can view all the historical ones here<\/a>. But to give you an idea, the following chart is from just a year ago:<\/p>\n

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A picture of such widespread declines in this index demonstrates that the misnamed \u2018recession\u2019 is in fact a full-blown Depression. If we review the macroeconomic charts for any sector \u2013 including those covering periods of recession \u2013 and interpret them in the context of a prolonged depression, the foreseeable economic and social deterioration is overwhelming.<\/p>\n

\"\"<\/a>We may be facing a new stock market crash that could see new lows; there is no shortage of reasons for this. The ground had given way beneath the financial system\u2019s feet, but the Systemic Thaw<\/a> It\u2019s obvious. Perhaps the reclamation of that land beneath our feet<\/a> This may be a good reason for optimism in the equity markets and for society as a whole, but even so, a chasm seems to be opening up on the ground winding staircase<\/a> into the darkest economic and social dungeons.<\/p>\n

Last-minute off-topic comment: It\u2019s a shame that, just hours after the Air France Airbus crash, Boeing\u2019s shares rose by 5% at the opening bell\u2026 I suppose that\u2019s just part of the ethics of money.<\/span><\/div>","protected":false},"excerpt":{"rendered":"

Es realmente pasmosa la velocidad y profundidad del deterioro econ\u00f3mico en esta crisis. No presagia nada bueno. En los anteriores gr\u00e1ficos del Banco de la Reserva Federal de Filadelfia, vemos c\u00f3mo la pr\u00e1ctica totalidad de los Estados Unidos est\u00e1 ya cayendo m\u00e1s de un -1% en un \u00edndice coincidente que se basa textualmente en los […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-357","post","type-post","status-publish","format-standard","hentry","category-sin-categorizar"],"_links":{"self":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/posts\/357","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/comments?post=357"}],"version-history":[{"count":0,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/posts\/357\/revisions"}],"wp:attachment":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/media?parent=357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/categories?post=357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/tags?post=357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}