JEFF GUNDLACH: The US Economy Is A Complete Horror [Slides]

Jeff Gundlach

Jeff Gundlach of DoubleLine (via Zero Hedge) has put together the sort of presentation that isn’t likely to elicit Christmas cheer in readers.

It details the depths of the crisis the U.S. economy is truly facing, including its massive debt problem, the declining value of its currency, the unemployment crisis, and the housing crisis.

Bah humbug.

It’s a great review of everything that is going very wrong in the U.S. right now and certainly a worthy dose of realism to combat all those bullish views on U.S. growth of late.

The U.S. debt situation is not looking good.

The U.S. is at a post World War I debt high.

And much of the government's portfolio is unfunded.

The biggest owner of that debt is now the Federal Reserve itself, through QE programs.

The budget deficit is out of control.

And deficits are only going to persist.

Receipts are just keeping up.

Tax receipts are near a high as a per cent of GDP.

The rich are getting richer.

And their tax rates are at low, low levels.

Consumers are getting rid of their debt, through default and otherwise.

And the dollar's value is in decline, in terms of purchasing power.

The Fed is being judged by global markets.

The Australian dollar is up against the USD.

The same for the Canadian, and plenty of other currencies.

We're in the midst of a jobless recovery.

Weeks out of work is still sky high.

The scariest chart in the world...

People just aren't trying to work anymore.

And fewer people, as a percentage of the population, are working than anytime since the early 80s.

And housing is a complete mess.

The home ownership rate has dropped after the massive spike.

And no one wants to buy anymore.

And with Subprime, well, they are awful.

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