With the threat of a potential 'black swan' event with a Trump Victory, The Elite have pulled out their "Ace in the Hole" - Russia. Russia is the most feared and misunderstood of all US artificial villians (even more than Islamic Terrorists).
Looking at the week ahead, the US election enters the home stretch and politics will likely dominate the headlines, especially the closer races in Congress. Despite data being overshadowed by politics, there are some key US releases coming up, with the first estimate of Q3 GDP, the employment cost index and durable goods the main focus.
Dear Americans, if you feel like healthcare costs are soaring, that's because it's true. However, the reason why the Fed may not be sharing your pain and keeping rates "lower for longer" is that it may be simply looking at a parallel series that shows virtually no healthcare inflation at all.
More than a third of all Americans can’t pay their debts. This is happening during the “economic recovery” that the mainstream media keeps touting. If this many Americans are having trouble paying their bills right now, what are things going to look like when the economy becomes extremely unstable once again?
Taking all the data we have on hand as of this moment, which includes actuals of 0.8% and 1.4% for Q1 and Q2 GDP, together with the Atlanta Fed's 1.9% for Q3 and adding the latest estimate of Q4 GDP by the NY Fed, which as of this moment is 1.6%, we get that the US will grow at just 1.4% in 2016.
The week ahead is striking in the sheer number of central bank speakers, but with the Fed on hold until December and the BoJ’s new framework now revealed, focus turns squarely from central banks to US politics. The first US presidential debate at the start of the week will be a key focus.
"It's very concerning to see that inventory conditions not only show no signs of improving but have actually worsened in recent months from their already suppressed levels a year ago," said the NAr's Larry Yun. "While recent data from the U.S. Census Bureau (shows that household incomes rose strongly last year, home prices are still outpacing incomes."
It turns out that 52% of all the new jobs - 5.25 million - reported by the BLS since the end of the recession were imagined, not counted. This amounts to still another whopper from the government statistical mills, and more evidence that the so-called recovery is based on a tissue of lies.