- Personal bankruptcies are on the rise in the US (read NY Times). It looks like households are in much worse shape entering this recession than compared to the 2001 bust. Bankruptcies in California and Nevada were up between 70% to 80% in October 2008. For details read this post.
- Slowing exports and Residential investments
Accordingly to CalculatedRisk (read the post), the US non-petrol current account deficit widened in September.. export growth is expected to remain slow due to a strong dollar. Data for October is expected to be worse.
The second point made is that contributions of exports and residential investments to GDP are countercyclical...the export growth is tapering off but the ability of residential investments to support the GDP seems limited given the high inventory building up.
Nov 17, 2008
Misc stuff on the US
I found a couple of interesting posts on CalculatedRisk...