Economics: The US Economy In 2008 Charted By The WSJ

Consumer confidence is low, prices are high, unemployment is up. The existing housing market is crashing and starts are down.

The Fed wants to fight inflation but if they do raise interest rates, this will put further pressure upon home owners.

The oil price is (as of today) over $142 and rising with the possible threat of war between Israel and Iran.

The financials are looking even weaker with MBIA and AMBAC downgraded. Fitch says that their positions are looking 'tenuous'.

Lehman Brothers stock is falling through the floor on reports that it will be sold on to Barclays.

We've just been through a bear rally in equities without the expected retracing and the credit markets have just had the worst quarter in six years.

Be scared. Be very scared....

Economic Growth and Employment
Q1: +1.0%	May: 5.5%
May: -0.2%	May: 49.6
Consumer Activity
May: $385.4 billion	May: +0.8%
June: 50.4
Inflation
May: +4.2%	May: +7.2%
Housing Construction and Sales
May: 0.975 million	May: 4.99 million
International Trade
April: $60.9 billion