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What Strong Economy? Powell’s Either Stupid Or A Blatant Liar

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And yet, Industrial Production as a whole, the headline index, fell by more than 1% year-over-year in October. Not only is that a rare negative for overall IP, that’s at a rate about equal to the (revised) estimates for the month of June 2015. And in June 2015, the rate for crude production was +7.2%.  As with today’s retail sales, the Fed’s IP series is also suggesting a lot that looks entirely too familiar. https://davidstockmanscontracorner.com/?p=359476&preview_id=359476&preview_nonce=0e62eb10f3&preview=true

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And yet, Industrial Production as a whole, the headline index, fell by more than 1% year-over-year in October. Not only is that a rare negative for overall IP, that’s at a rate about equal to the (revised) estimates for the month of June 2015. And in June 2015, the rate for crude production was +7.2%.  As with today’s retail sales, the Fed’s IP series is also suggesting a lot that looks entirely too familiar.

What Strong Economy? Powell’s Either Stupid Or A Blatant Liar

https://davidstockmanscontracorner.com/?p=359476&preview_id=359476&preview_nonce=0e62eb10f3&preview=true

David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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