Created with Raphaƫl 2.1.2
Profit Impulse x 25
-150
-100
-50
0
50
100
1974
1976
1978
1980
1982
1984
1986
1988
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
2012
2014
2016
Credit Impulse
Profit Impulse x 25
    * Profit cycle = Net value added minus compensation of employees (net surplus) as percentage of
       net value added (12-month trailing sums)
  ** Credit cycle = Total credit (debt securities and loans, 12-month trailing averages) as percentage of
       net value added minus compensation of employees (net surplus, 12-month trailing sums)
 
  Source: BEA , Federal Reserve | @KeineWunder | www.weitwinkelsubjektiv.com |
 
Date: 15.06.2016
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