After noticing the real GDP per person just dropped to its lowest level in more than 75 years, a major newspaper recently asked a slate of economists, "What's wrong with the economy?" Not one of them referenced the telling data in these charts. Now you can see what they don't want you to see.
The steady dive in US economic performance recently became too pronounced for the financial news to ignore.
When a major New York daily newspaper finally took notice and asked a slate of economists, "What's wrong with the economy?", responses ranged from "a statistical mirage" to a "hangover" from the 2008-2009 recession. Yet the charts and figures we're looking at reveal something far more insidious.
Has the same exuberant mood that propelled stocks to new all-time highs also pulled the wool over economists' eyes, causing them to ignore critical early-warning signs? Inside this eye-opening 2-page report, a quick 5-minute read, our analysts answer these questions and show you three charts you will probably not see from any other source.
Steven Hochberg is the Chief Market Analyst for Elliott Wave International. He is the co-editor of The Elliott Wave Financial Forecast and editor of The Short Term Update. Hochberg began his career with Merrill Lynch & Co. and joined Elliott Wave International in 1994.
Peter Kendall is co-editor of The Elliott Wave Financial Forecast. Pete authored The Mania Chronicles with Robert Prechter in 2009 and contributes to The Short Term Update. Pete began his career as a financial reporter and columnist and joined EWI in 1992.