Interesting chart above from Freddie Mac, showing foreclosures through the middle of 2007. Note that delinquency rates for FHA and VA loans were declining in 2007 and flat for prime conventional mortgages, so the delinquency problems (at least through the middle of 2007) were affecting only the subprime mortgage sector. It will be interesting to see how this changes in the last half of 2007.
Jan. 31 (Bloomberg) — Germany’s unemployment rate fell to the lowest level in 15 years in January. The jobless rate, adjusted for seasonal swings, dropped to 8.1%, the Federal Labor Agency in Nuremberg said today.
Comment: We haven’t had an unemployment rate in the U.S. above 8% in almost a quarter century, since December of 1983 (see chart above, click to enlarge), following the longest post-WWII recession in U.S. history (16 months).
Forbes Magazine introduces the Forbes Misery Measure, based on a city’s unemployment rate, personal tax rate, commute time, weather, crime, and toxic waste proximity. The top ten “most miserable” cities, according to Forbes:
1. Detroit, MI
2. Stockton, CA
3. Flint, MI
4. New York City
5. Philadelphia, PA
6. Chicago, IL
7. Los Angeles, CA
8. Modesto, CA
9. Charlotte, NC
10. Providence, RI
Territory size shows the proportion of worldwide GDP, equalised in purchasing power parity, found there in the Year 1 A.D.
Territory size shows the proportion of worldwide GDP, adjusted for local purchasing power, found there in the Year 2002.
In fact, there has only been one year since 2001, when real disposable personal income has grown at a higher annual rate than 2007 – the 3.6% rate in 2004.
Update: Graph now goes back to 2001.
Territory size shows the proportion of all cars in the world that are found there.
Territory size shows the proportion of all the motorbikes and mopeds in the world found there.
Territory size shows the proportion of worldwide polio cases that were recorded there between 2000 and 2005.
Distribution of World Population of the World: Year 1
Distribution of the World Population of the World: 2008