Incumbent Party Has Lost the White House in Every Election Since 1932,
When Annual Real Disposable Income Growth Has Been Below 2.9%

Second-Quarter 2016 Real Disposable Income Growth Was 1.8%

Results of the Highly Contentious U.S. Presidential Election
Should Be Bullish for Gold, Irrespective of the Winner

Nominal September Retail Sales Gain of 0.6% Was Dominated by
Rising Prices and Gimmicked Seasonal-Adjustment Revisions

Monthly September PPI Inflation: Goods up 0.65%, Services up 0.09%,
Construction up 0.09%, Total up 0.27%

Consumer Liquidity Continues to Constrain Economic Activity