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Great Recessions II - coming soon to an economy near you.

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John Scanlon
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Primary sources:  The Economist magazine, San Diego Union Tribune SDUT, www.wikipedia.com, www.federalreserve.gov, www.bls.gov

http://www.federalreserve.gov/releases/z1/  See the 12/09/2013 Z-1 statistical release.

(a)   The GDP figure used was the average annualized figures for the first three quarters of 2013 from the 12/09/2013 Z-1 release.  Gross domestic product GDP indicates our capacity to service our debt.  It is the market value of the products and services produced in one year in our product markets.  The flip side of this figure is what our producers pay for labor and financial capital in our resource/factor markets.  GDP in the product markets roughly equals national income and fixed capital consumption in the resource/ factor markets.

(b) 9/16/2012 SDUT p.C1 from Nation's Housing article by Kenneth Harney -- "1.2 million families across the country are now at some stage of foreclosure, 3.8 million homeowners have been foreclosed upon since September 2008""  This was in September 2012.

(c)   Bloomberg News in the 12/17/2013 SDUT p. C4 and the 12/09 Z-1.

(d) Source: 11/2/2013 Economist p.12.  The 12/9 Z-1 release p.13 shows 3rd quarter annualized compensation of employees/ national income was 60.9%, 8,889.1 B/ 14,596.7 B.  I maintain a portion of proprietors' income is compensation for proprietors' labor.  See also footnote (a). 

(e)   http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a0W1VTiv9q2A  7/24/2009 article "Banning Naked Default Swaps""  As much as 80 percent of the credit-default swap market is traded by firms that don't own the underlying debt, Eric Dinallo, the former superintendent of the New York State Insurance Department, estimated in a January (2009) interview.

(f)    http://www.sec.gov/litigation/complaints/2010/comp21489.pdf  p.3

(g)   12/05/2013 SDUT p.C4 from Washington Post article by Danielle Douglas

(h)   12/29/2013 SDUT p.C1 from Nation's Housing article by Kenneth Harney

(i)    Sources:  American War Machine by Peter Dale Scott p.227 and p. 235 and http://www.unodc.org/wdr/index.html

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John F Scanlon is a mere Irish-American and a former Marine. He has a BA in Business Economics from UC Santa Barbara, 4 years experience as a bank loan officer, 13 years experience as a bank examiner, and 70+ years of life experience. He has (more...)
 

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