How about a splash of cold water for the economic optimists via ForexLive

A story from Quartz on Seven charts that leave you no choice but to feel optimistic about the US economy did the rounds earlier but it's a stretch.

First of all, jobs are 3 of the 7 charts which is dipping into the same pot a bit too much for my liking, especially with other evidence on underemployment, part time jobs and McJobs.

Second, they have a chart like this on existing home sales, which at best just looks okay:

Existing home sales up close

But I'd prefer this chart of the same thing on a different timeline.

existing home sales back to 2005

The picture doesn't look so pretty from that angle.

The other reasons are consumer sentiment (c'mon), the stock market (double c'mon) and auto sales. Of those I'm only moved by auto sales which are truly strong. But I'm not sure if that's due to pent-up demand after 7 years of driving beaters or shady auto credit and financing.

I'm somewhat optimistic about US growth in the second half but let's not plan the parade just yet.

posted via ForexLive