The Fed has a very serious problem on its hands.
That problem concerns the fact that for seven years the Fed has spread the myth of a “recovery.”
I say “myth” because the reality is that when you remove accounting gimmicks, the US has been a “hair’s breadth” away from a recession since 2010.
The most obvious gimmick being employed is the phony “deflator” used to understate inflation and overstate growth.
Submitted by Lance Roberts via RealInvestmentAdvice.com,
What a change a couple of weeks can make. As my colleague, Michael Lebowitz, wrote this past week:
Everyone's doing it, just follow them...
An interesting week:
Coming off the the "Thank Your Tour" that got started yesterday with stops in Indiana and Ohio, Vice President-Elect Mike Pence sat down with the Wall Street Journal to discuss the new administration's aggressive plans for the first 100 days in office. Pence said the new team plans for a "burst of activity" right out of the gate and said "the only thing that will surprise them is that Washington, D.C., is going to get an awful lot done in a short period of time."
A new ‘anti-Russian propaganda’ bill is to be signed into law which will make it illegal to run an alternative media website in the United States. Under the guise of combatting “Russian propaganda,” the House of Representatives passed the H.R.6393 bill, also known as ‘Intelligence Authorization Act for Fiscal Year 2017‘. The bill is an attempt to counteract “measures by Russia to exert covert influence” in America. Worryingly, the definition of what constitutes “Russian influence” includes references to so-called ‘fake news’ websites and any site deemed anti-establishment.