by Bill Bonner
Daily Reckoning
GUALFIN, Argentina – Stocks are going up all over the world.
Meanwhile, it appears to us that the U.S. economy is going down. Go figure.
For instance, a labor-market index created by Fed economists… and closely watched by Fed chief Janet Yellen… has fallen for three straight months. It’s the first time that’s happened since 2009.
And the Atlanta Fed adds that GDP growth in the first quarter of 2016 was only 0.3%.
That’s not quite recession territory (commonly defined as two back-to-back quarters of negative growth)… but it’s not far off.