Industrial Production Just Took a Hit with Its Benchmark Revisions,
Given Higher-Quality, Weaker Historical Data from 2015

Double-Dip Recession in Production Now Steeper than Previously Indicated

Two or More Consecutive Quarters of Annual Decline in Production
Are Unprecedented Outside of Formally-Recognized Recessions;
There Were Five, Now There Are Seven Consecutive Quarters in Place

Gold and Silver Mining Activity Revised Sharply Higher

Negative Indications for Pending Benchmark Revisions to
Retail Sales, Durable Goods Orders and the GDP

Broad Outlook Continues for Non-Recovering Economic Activity

Issues Foreshadow FOMC Problems, a Weaker Dollar and
Stronger Gold