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090326 Koo Presentation

090326 Koo Presentation

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Published by: zerohedge on Nov 24, 2009
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11/22/2014

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The Age of Balance Sheet Recessions:What Post-2008 U.S., Europe and ChinaCan Learn from Japan 1990-2005
Richard C. KooChief EconomistNomura Research InstituteTokyoMarch 2009
 
1
Exhibit 1. US Economy Is Deteriorating Rapidly
7072747678808284869899000102030405060708093.54.04.55.05.56.06.57.07.58.08.5Capacity Utilization(left Scale)(%, Seasonally adjusted, inverted)Unemployment Rate(right scale)Sources: US Department of Labor, FRB(%, Seasonally adjusted)
 
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Exhibit 2. EU Economic Sentiments Are Worsening
657075808590951001051101151202000200120022003200420052006200720082009(Seasonally adjusted)Source: Ifo Business Survey, European CommissionIfo Business ClimateEuro Area Economic Sentiment

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