Blog Pictures

Images lifted from various blogs, with links back to the full story. I find this format great for generating interest in various financial topics. The take away should be this is not a normal recession. I believe history will revise this period as a depression.

Mish on "Can We Really Trust The Leading Economic Indicators?", below is image of Bank Credit expansion (or contraction) year over year.

From WebSurfinMurf's Financial Blog

Chris Puplava on Financial Sense has an article "Fool Me Once, Shame on You. Fool Me Twice, Shame on Me", shows how "leading economic indicators" are being DWARFED (if not outright manipulated) by The Federal Reserve & US Treasury monetary policies. This is NOT normal folks, and it a distortion of reality.

From WebSurfinMurf's Financial Blog

Mish in his article Overly Optimistic Consensus Plays Greater Fools' Game Once Again quotes David Rosenberg in Report: A “V”-Shaped Recovery.
While we will not belabour the point, when all the write-downs are included, the trailing P/E on “reported” earnings just widened to its highest levels in recorded history of nearly 140x, which is three times the levels prevailing during the height of the tech bubble.
S&P 500 corporate earnings multiplier vs S&P 500 valuation, INCLUDING write-downs

From WebSurfinMurf's Financial Blog