Despite the bogus BLS employment report last week (so the Fed could raise rates before the next financial crisis hits), all economic data confirms an economic recession. Corporate profits are falling, and their forecasts for next quarter are worse. Global trade is slowing dramatically. Oil prices and other commodities are plummeting to multi-year lows. Manufacturing and Services surveys are flashing red. China, Japan and European economies continue to suck wind. Layoff announcements by major corporations are up 40% over last year. A global deflationary recession is underway. Only a CNBC bimbo, shill or Ivy League educated economist isn’t bright enough to see it.
Retail sales came out this morning and they were worse than dreadful.


















