The last month has been a horror show for the U.S. economy, with economic data falling off a cliff, according to Mike Riddell, a fund manager at M&G Investments in London.
"It seems that almost every bit of data about the health of the US economy has disappointed expectations recently," said Riddell, in a note sent to CNBC on Wednesday.
"US house prices have fallen by more than 5 percent year on year, pending home sales have collapsed and existing home sales disappointed, the trend of improving jobless claims has arrested, first quarter GDP wasn’t revised upwards by the 0.4 percent forecast, durables goods orders shrank, manufacturing surveys from Philadelphia Fed, Richmond Fed and Chicago Fed were all very disappointing."
From the Drudge Report:
Dow tumbles 280 points...
Private Sector Jobs Grew By Only 38,000 in May...
Planned Layoffs Up...
Manufacturing Slows...
The Hound: Where did you read this information first. The admitted double dip has begun. It is really a full-fledged Depression that they can't paper over anymore. It will be further pushed over the upcoming months. The answer will be to raise the debt ceiling, compromise on cuts that would, most likely never, be instituted down the road, and monetize more debt pushing us closer and closer to the reality of hyperinflation.
Do not trust these people. Think about what their agenda is. What are they trying to nudge us towards. They want to monetize more debt to pad their crony pockets before the ultimate crisis begins. Will the Gullible American public wake up to this?
Those who constantly keep pushing the notion that the economy is improving look like idiots at this point. How long have they been touting this line? How long have they been wrong? And mostly how long are the willing dupes of the public going to listen to the "Powers That Shouldn't Be" sing Kumbaya with their eyes closed and their fingers firmly entrenched in their ears. It is way past time to start cleaning house folks. Way past time!!!
P.S. After manipulation and consolidation Silver will be heading back up and way beyond here soon.
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