+
What’s next for the economy?
Ignore the DOW hitting
all time highs
Click icon to add picture
+
Source: JPMorgan Asset Management
S&P 500 Total Leverage
This is not a goodtrend
+
Source: JPMorgan Asset Management
Corporate Financing Gap
1) Companies don’t have to borrow2) Banks don’t
want to lend either
+
Source: JPMorgan Asset Management
House Inventories
Home inventoriesstill heading in
the wrongdirection
+
Source: JPMorgan Asset Management
After Tax Corporate Profits
• Corporate profitsstill at all time highs
and growing• Close to 2008
Levels
• Aggressive costcutting
• Massive layoffs
+
Source: JPMorgan Asset Management
S&P Earnings Per Share
Historicallycompanies EPS
has driven S&P and the
markets
+
Source: JPMorgan Asset Management
Residential Mortgage Delinquency Rates
While commercialand consumer
loans have somewhatstabilized, residentialmortgages still look
a total mess
+
Source: JPMorgan Asset Management
Light Vehicle Sales
Back to average
+
Source: JPMorgan Asset Management
Housing Starts
Still below average
+
Source: JPMorgan Asset Management
Private Inventories
Needs improvement
+
Source: JPMorgan Asset Management
Capital Goods Orders
Needs improvement
+
Source: JPMorgan Asset Management
Deploying Corporate Cash
Too much corporatecash sitting around
+
Source: JPMorgan Asset Management
Corporate Growth
Good capitalexpendituresactivity butneed more
investment in infrastructure, and hiring more
employees
+
Source: JPMorgan Asset Management
Employment
Not enough job growth
1) Many part timejobs
2) Lower level salaries
+
Source: JPMorgan Asset Management
European Unemployment
Not a good longterm picture
+
Source: JPMorgan Asset Management
US GDP and Economic Growth
Consumptioncan’t keep driving US
GDPChina example:
investmentand consumption%’s are opposite
of US
+
Source: JPMorgan Asset Management
Mutual Fund Flows
• Too much moneyhas flowed into
fixed income
• Seems like biginstitutions are the
only players inequity markets
and not the average
American
+
Source: JPMorgan Asset Management
Growing your business in an average economy
Having the right business intelligence Finding the right market niches and segments
Identifying and securing strategic partnerships (x3-5 revenue growth)
Getting more out of existing clients (loyalty marketing)
+
Source: JPMorgan Asset Management
Recommended
