A nice chart (click here)depicting the total debt, broken down by sector, for the developed nations, from creditwritedowns.com.
The UK stands out as having much more total debt than the US.
The household debt levels in Australia and Canada are high, relative to the US. It’s been argued that both countries are facing significant housing corrections in the near future.
Although the unemployment rate is down to 8.5%, the falling labor participation rate is still the major reason for the “improvement.” Here’s a post from Zero Hedge explaining the numbers.
Click here to see a chart plotting the Obama administrations forecasts of unemployment with the recovery plan that was passed, without the recovery plan, and actual unemployment (in red) which is far worse than both forecasts.
Here’s a chart of a hypothetical unemployment rate that assumes the labor force had been constant and not shrinking (due to people giving up).
Here’s a chart of wealth owned by the top 1% over the years. It’s down to steady contrary to popular belief.
An interactive map of uprisings in the Middle-East, Northern Africa.
Anatomy of a Collapse
A trillion here, a trillion there. What’s all the fuss about?
Check out these charts (here). Mortgage debt is down however much of it is purported to be from defaults. Equity as a percentage of household value held steady for decades but turned south in 2007. Keep in mind that this includes all those homeowners without a mortgage.