Recently, the True Dollar Journal published world steel output stats that show the world has been in a Super Depression since 2008 (see: World Steel Output Says You Have Been Living in the Great Global Super Depression Since 2008). For many, this is hard to believe.
USA nickel production per capita, net of exports, tells an alike story.
As can be seen, nickel production was on the rise from 1994 to 2000, when nickel production per USA resident went from 1.19 pounds a person to 1.81 per person. That was a rise of 52.1%. Then the Dot Com bubble burst, which sent the USA into a reckoning.
After the Congress juiced the mortgage markets with no doc loans, the final credit bubble rose to Q4 2007 before bursting.
As can be seen, nickel per capita works as a leading indicator. Nickel collapsed in 2007, ahead of the general crash, dropping -50.8% from 2006.
From then, per capital nickel output in the USA rose to a lower level and has been moving in a lower range from either the 2000 peak or the 2006 peak. Current nickel output per capita is no higher than it was between 1994 and 1995.
If the economy were growing, nickel would higher and advancing. If Americans and other USA residents were richer today than ever before, per capita nickel output with be higher than the 2006 peak.
Gab It
