We first introduced readers to the Dallas Police and Fire Pension (DPFP) crisis last summer in a post entitled "Dallas Cops' Pension Fund Nears Insolvency In Wake Of Shady Real Estate Deals, FBI Raid." For those who have managed to avoid this particular storyline for the past 15 months, here is a brief recap of how it all started from our original post on the topic:
Once Janet Yellen's favorite indicator (until it started to turn down, and became just "experimental"), The Fed's Labor Market Conditions Index (a 19-factor smoothed model that has historically correlated extremely well to recession) has been abandoned because The Fed "believes it no longer provides a good summary of changes in the US labor market."
The Fed writes...
As of August 3, 2017, updates to the labor market conditions index (LMCI) have been discontinued.
By the SRSrocco Report,
To all the precious metals, resource and alternative media followers and investors.... something BIG is about to change in our community. This change will have a very powerful and positive impact on the Alternative Media Community, while at the same time, disrupting the control by the mainstream media.
So what is this BIG CHANGE? Let me say it in just three words.... CDX IS COMING.
WTI had coiled up today, closing lower, ahead of tonight's API data. After last week's API build and small DOE draw, hope was high that the trend of larger draws would continue and it did with API reporting a larger than expected crude draw (-7.839mm vs -2.2mm exp). However, a susprise build in gasoline inventories took the shine off and the machines could not decide whether to buy or sell.
API
Via MauldinEconomics.com,
Once again I start with a warning: A recession is eventually coming and a financial crisis with it. There is a real potential for it to come soon, although serious tax reform could delay it.
But sooner or later, the pressures of too much government debt and too many government promises, plus growth that is continually grinding slower, will break out into a recession.
There is always another recession.