Retail Sales Benchmarking Showed the GDP Slowing
More Than Headlined, Coming Into the Pandemic Shutdown

ShadowStats Forecasts First-Quarter 2020 Annualized Real GDP Activity
Ultimately Will Show a Drop of About 7.1% (-7.1%), With
Second-Quarter GDP Plunging by Roughly 38% (-38%)

Optimistic Expectations for an Initial First-Quarter Decline of 3.5% (-3.5%)
Incorporate Overly Positive Reporting Assumptions That Filled Gaps in
Initial, Limited-Quality Reporting of Activity in Underlying Series

Assuming Some Pandemic Relief, GDP Could Be Off Bottom Before Year-End;
Full Recovery Will Be Difficult and Complicated

Mounting Risks of a Hyperinflationary Great Depression, as the
Federal Reserve and Federal Government Launch Unlimited
Money Creation, Deficit Spending and Financial Bailouts

Annual Growth in Money Supply M1, M2 and the ShadowStats M3
Jumped to Historic Highs in First Two Weeks of April 2020

Watch for Early Inflation Warning Signal in Surging Price of Gold