The Perfect Economic Storm

Figure I AVERAGE WEEKLY EARNINGS GROWTH BY OCCUPATION,

FIGURE II AVERAGE WEEKLY EARNINGS “REAL”GROWTH BY OCCUPATION,

FIGURE III OVERALL AVERAGE WEEKLY EARNINGS GROWTH DOLLAR VS. “REAL”,

AVERAGE ANNUAL HOUSEHOLD INCOME GROWTH: FIGURE IV

FIGURE V

FIGURE VI Men’s Labor Force Participation Rate,

FIGURE VII AVERAGE WEEKLY HOURS WORKED, U.S.A.

FIGURE VIII U.S. AVERAGE HOUSE PRICES, Thousands of Dollars

FIGURE IX LONG-TERM MORTGAGE RATES

FIGURE X GROWTH IN HOME PRICES DROPS INTO NEGATIVE RANGE

FIGURE XI REAL ESTATE EXCEEDS STOCK’S SHARE OF PERSONAL WEALTH

FIGURE XII SAVING RATE AS PERCENT OF DISPOSABLE PERSONAL INCOME

Figure XIII HOUSEHOLD DEBT AS A PERCENTAGE OF DISPOSABLE INCOME,

FIGURE XIV THE EXPLOSION IN THE ALTERNATIVE MINIMUM TAX

FIGURE XV ENTITLEMENT COMMITMENTS OF PROJECTED TOTAL FEDERAL REVENUES

FIGURE XVI FALLING TRANSPORTATION COSTS IN INTERNATIONAL TRADE

FIGURE XVII THE FALLING COST OF INTERNATIONAL COMMUNICATIONS

FIGURE XVIII THE GROWTH IN

Financial Intermediaries