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Economy

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No bear market since 2009? Guess again

No bear market since 2009 Guess again.png

The 4Q2018 pace of downgrades from A into BBB is the largest since the late-2015 wave of commodity-related fallen angels

BBB U.S. corporate debt as % of investment grade market

BBB U.S. Corporate Debt as % of Investment Grade Market.png

United State: state and local government retirement funds, 2016

United State - State and Local Government Retirement Funds, 2016.png

Interest costs rising for U.S. government

Interest Costs Rising for U.S. Government.png

U.S. government debt/government revenue

U.S. Government Debt-Government Revenue.png

U.S. revenue as a percentage of GDP and top marginal tax rate, 1935-2011

U.S. Revenue as a Percentage of GDP and Top Marginal Tax Rate, 1935-2011.png

Federal spending and revenue as a share of U.S. GDP

Federal Spending and Revenue as a Share of U.S. GDP.png

Federal spending and revenue as a share of the U.S. economy, 1930-2015

Federal Spending and Revenue as a Share of the U.S. Economy, 1930-2015.png

U.S. federal budget deficit and recessions

U.S. Federal Budget Deficit and Recessions.png

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