November saw inventories rise more than expected (+1.0% MoM vs +0.9% exp) and sales disappoint (+0.4% vs +0.5% exp) and were notably revised lower. This sent the inventories-to-sales ratio back up again - stubbornly stuck in recessionary territory. Automotive inventories-to-sales jumped higher once again - back near cycle highs.
With (hyper)inflation expected to hit 1,660% this year and 2,880% next, Venezuela's President Maduro hiked the minimum wage another 50% on Sunday, the fifth increase in the past year (for a total annualized increase of 536%), to help shield workers from 'economic war'.
"I take some responsibility on that. But I think that what is also true is that I couldn't be both chief organizer of the Democratic Party and function as commander in chief and president of the United States. We did not begin what I think needs to happen over the long haul, and that is rebuild the Democratic Party at the ground level.
While mainstream media clung to The White House spin of record monthly streak of jobs gains after Friday's payrolls, The Fed's own Labor Market Conditions Index (LMCI) paints a very different picture of the health of the American job market. With a 0.3% drop in December, the LMCI is now down 5.8% year-over-year, the biggest plunge since Jan 2010.
The false recovery narrative will indeed die in 2017, and it will be because the globalists WANT it to die while nationalists are at the helm. This is perhaps the biggest con game in recent history; with conservatives as the fall guy and the rest of the public as the gullible mark.