Production Discounting Globally Suggest US Consumers In Deepening Recession

But while Janet Yellen refers to that as distinctly energy, she doesn’t openly address that this price pattern is much more than that; especially past the summer. Non-petroleum producer prices have ceased to expand, and in October fell to just about zero for the first time.

 

In the end, it is little wonder the FOMC wishes to leave out this “part” of their examination of their own failures. To include it would be to completely extinguish their sacred belief in their own abilities as well as the far more important recovery narrative. It is increasingly clear the recovery ended in 2012, and that it was further reversed in 2015 to an as-yet undefined economically descendent purpose; one that looks more and more recessionary by the month, here as well as the rest of the world.

DYI