Sunday, April 7, 2013

Economic Recovery

The following chart is copied from Zero Hedge who attribute the data to the Energy Information Agency.

Unlike most government-supplied statistical data, this chart data has not been massaged with "seasonal adjustments", "birth-death adjustments", "chained inflation adjustments", or any other kind of spin.

The reader can judge for himself what kind of economic recovery the USA has been experiencing since the collapse of the housing bubble and the resulting stupendous responses by the Federal monetary authorities.

Incidentally, the reader may also question what has been trumpeted in major media and elsewhere as a great oil renaissance, the current reduction in crude oil imports, which is often extrapolated to predict total energy independence in a few more years.