NY Fed Launches Interactive Maps Of Economic Collapse

Tyler Durden's picture

The kind folks at the New York Fed have launched a useful service whereby citizens can look at the collapse of the credit economy in real, interactive time as they buy Fannie, Freddie and Citi stock (which at last check had a pro forma market cap higher than Bank of America).

The link for the maps can be found here in case anyone needs ongoing confirmation of the prevlance of red shoots.

At first glance, it seems that delinquent auto loans is where much more red is still due, while the bloodletting in mortgages has reached quite epic proportions and shows no sign of abating.

The charts below demonstrate the year over year deterioration across four key credit verticals:

Auto Loan Delinquency Rate 60 + Days:

Bank Card Delinquency Rate 60 + Days:

Mortgage Delinquency Rate 90 + Days:

Student Loan Delinquency Rate 90 + Days:

For the full interactive charts, don't be shy and check out the Fed's website.

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mgarrett84's picture

VERY COOL.  

 

 

Project Mayhem's picture

Wow I am SO glad I can see this bloodbath in 24-bit color!   Thanks NY Fed!

 

 

Cognitive Dissonance's picture

Courtesy of the FED, our ADD world just got on-demand updates to the great American economic reset.

drwed's picture

Apparently the powers that be are very, very good -- except for when they're disastrously incapable.

Cheeky Bastard's picture

is it just me; or does any one else see a similarity between this and USSR ?

Anonymous's picture

cause it is all red...and i have it on good authority all those people are communist sympathizers.

Anonymous's picture

I think he means the US is turning red.

Joe Sixpack's picture

I think he means the USA is turning red.

Marley's picture

Ok, ok, just thought it was something deeper.  Thanks.

Cheeky Bastard's picture

it is; read about glasnost and perestroika; and then look those measures like you're watching a mirrored image of present situation in the US with the same outcome.

Anonymous's picture

Who will be our Yeltsin ???

bonddude's picture

Now logged in to repeat-

Who will be our Yeltsin ?

Cheeky Bastard's picture

i hope no one; except you prefer to have a drunk president and a country ruled by 8 oligarchs. ( ok, some thing wouldn't change ) i say we need someone like Mohammed Mosaddeq or someone who will fight to death for freedom and not be down on his knees for money.

Marley's picture

Will do, thanks.  Am I naive in thinking the Bolshevik revolution was "aided" by our royals (Rothchilds, Morgans, Rockefellers, etc.) when it was determined that the Russian Government wouldn't let the Rockefellers and Rothschilds, and other major oil monopolies, to divide up the world’s oil reserves?

Cheeky Bastard's picture

Marley; i mean Rothschild's have been put to a sphere of conspiracy because the influence the had in that time; and because history as a discipline is itself rather " mysterious ". And when i hear about grand conspiracy i all of the sudden get the urge to punch some one in the face. Its all about money, always was, always will be. The Rothschild's just did what was natural; they lended money to both parties; and they could have care less about the outcome. It was simple profiteering; nothing else. No ideology, no nothing; just good ol capitalism. The same thing goes for other families and individuals. Also the question of globalization streams from Kant; not from some economist or some brain dead pencil pusher. And it is easier to make money when there are no boundaries ( both physical, political, economical, monetary etc) than when you have fragmented field of play. It is inevitable for the world to be united if for nothing else; than for a trivial thing like piece. but there is no omnipotent or omniscient organization who can actually rule it without consensus with the rulers of particular countries and cultures. Equilibrium trough diversification is the goal they try to achieve. You can look at this time period like another step to unification ( trough trashing the dollar and introducing new currency ) but it has no ideological ground except the one that there is no ideology.

Marley's picture

Cheeky Bastard,

Here's hoping that your sleeping.  Thanks, I can appreciate that.  I wasn't looking for a conspiracy.  I've been reading this article;

http://www.marketoracle.co.uk/Article12902.html

and find the global influence of the oil industry amazing.  I was just wondering if the implication of the support of the "parties" was a valid one, since you live closer to that corner of the world than I.

 

zeropointfield's picture
zeropointfield (not verified) Aug 24, 2009 10:54 AM

Karl makes an important point: In addition to delinquency rates you also need to look at delinquency cure rates. Delinquent debtors may come back to live, after all.
However, the numbers for delinquency cure rates are also abyssmal.

http://market-ticker.denninger.net/archives/1365-No,-Its-Not-A-Recovery....

 

Joe Sixpack's picture

[sarcasm] This data is highly overstated and negative. In fact 4-6 % of these dleiquncies are cured. [/sarcasm]

zeropointfield's picture
zeropointfield (not verified) Joe Sixpack Aug 24, 2009 12:06 PM

ok, ok. the cure numbers don't make a difference. but at the very least you have to check just to make sure.

Anonymous's picture

All that green and red. Makes me feel like spending my savings for Christmas.

Anonymous's picture

A lot of college loans require no payments until after graduation. I'm sure that chart will be progressively more red over the next several years.

Daedal's picture

A lot of college loans require no payment until post-graduation. Expect that chart to get progressively more red over the next several years.

Rex Crotch's picture

I think auto loan delinquency will stay low for now. If you don't pay your car loan it won't be outside your house when you wake up in the morning. If you don't pay your mortgage you can live in the house for a few years until the bank actually forecloses on it and realizes the loss. At least that is what I've noticed from work regarding delinquencies across different asset classes.

Anonymous's picture

I don't trust the NY Fed. Why does Michigan have green and pink dots, while their unemployment rate is 15% plus plus?

Anonymous's picture

Crack dealers & mosques keeping the spending up.

Anonymous's picture

student loans are the big lead weight. no other class of debt is non-dischargeable for no good social reason.

student lenders have been indited in fraud and payoff schemes multiple times. clinton aided these companies by allowing them to lobby for a change in the bankruptcy laws. and now, many people are burdened by their student loans for life.

Anonymous's picture

That because they genuinely cannot pay them off because they do not earn a living, or is it due to deadbeat mentality?

defender's picture

A cheap college will cost you more than $30K to get a four year degree.  How many jobs pay enough to pay off the minimum?  To put this in perspective, I had $15K in loans and a $230 monthly payment 4 years ago when interest rates were normal.  So that makes it housing, car, and student loan payment sucking about $1000 a month out of the wallet.  If you are making $10/hr and are single you take home about $1300 after tax each month.  This doesn't leave much room for things to go wrong.  Of course, this assumes that you have a job...

Anonymous's picture

Oh, we should forgive these loans because college students are too stupid to understand that borrowing money means paying it back.

defender's picture

That's right, those college students should have known better!  What makes them so special to think that they can just walk away from a massive debt load that they agreed to because they are "having a hard time making payments"? 

Whats that you say?  I can afford that McMansion if I just sign my name to this option arm?  Well don't just stand there, give me a pen already.  

/sarcasm

Anonymous's picture

The conspiracy theorists will have a field day when they accidentally release the pro forma versions.

Jeanbon's picture

Since I have been looking at these maps, the XLF erased

most of it's gains for the day. There is resistance @ 14.70

that has been broken this morning, but now we trade at

the day's lows, new lows, and maybe we get a good chance

to start shorting financial shares at these levels.

At least, the maps are giving traders a reality check...

 

wow, new lows and new lows in the XLF ;-)

Gilgamesh's picture

MI & KEY (two zombie regionals) failed at their 200 DMA resistance test today, and C @ 5 was like a military flare to take profit in financials.  It was commented on by a few people that $5 Citi might end up being "the top."

 

Now I see gold drop about $10 in a few minutes.  Hm.

Anonymous's picture

So America really is the home of the automobile. People would rather loose their home rather than their car. Am I alone in finding this surprising? I suppose you've got to get to the soup kitchen somehow.

Anonymous's picture

Not suprising. You can sleep in your car but you can't drive your house.

Anonymous's picture

LOL

Anonymous's picture

Geez, White Pine, Nevada is firing on just about all cylinders. Good thing nobody there goes to college.

drwed's picture
drwed (not verified) Aug 24, 2009 1:09 PM

thsi is only the beggning

Anonymous's picture

They have changed the color to a soothing blue...

Anonymous's picture

SINCE THE NYFED IS KNOWN FOR ITS SERVICE TO THE COUNTRY THROUGH SUPPORTING WLL ST AIG AND ALL THE OTHER SACRIFICES IT TOOK FOR THE COUNTRIES SAKE,NOW THAT IS ONE MORE SERVICE. ALL THOSE HEDGIES WHO MADE MONEY DURING THE MARKET MELTDOWN,AND I AM SURE THEY MADE MORE IN THE MELTUP,NOW THEY CAN FIND WHERE ARE THE MOST DISCOUNTED AREAS IN THE COUNTRY. THEY DON'T HAVE TO EVEN BOTHER SPENDING TIME RESEARCHING,THE FED DID ALL THAT FOR THEM FOR FREE.

Anonymous's picture

The ONLY good advice my father ever gave me; "Borrow what you need for the best education you can acquire. They cannot repossess either your degree or your experience."

By god, he was right. And I am grateful. Pass the advice on.