by Graham Summers
While the world continues to focus on the BREXIT, two other, much larger problems are emerging.
The first is that the US is back in recession. Labor Market Conditions, Industrial Production, the Dallas Fed Workweek, Commercial and Industrial Loan Delinquencies, Corporate Debt Levels, and Inventory Accumulation are ALL in recessionary territory.
Because it is an election year, there is an even greater need to maintain the narrative than usual. So don’t expect an official announcement of this recession until sometime in early to mid 2017.
Regardless of when the elites announce it, the fact remains, the US is in recession. Seven years of ZIRP and $3.5 trillion in QE by the Fed generated the weakest recovery in seven years. And the Fed is now out of any effective ammo (the benefits of a rate cut would be transitory at best).