Explosive Growth in Federal Debt, Against Headline GDP, Is Out of Control,
Threatening Domestic Financial Stability and the Survival of the Republic

Having Triggered the Still-Deepening U.S. Recession, the FOMC Declared
That Sustainable, Moderate U.S. Economic Growth Is in Place,
Hinting That No Further Easing Was Needed — Nonsense!

There Is No Sustainable Moderate Expansion in Place;
Aggressive Federal Reserve Easing Still Was and Still Is Needed

Major Downside Revisions to Economic Growth Loom, Including to the GDP

The Fed Chair Touted the Third-Quarter GDP as Evidence of Stability,
Yet, Just Two Days Later, Construction Spending Suggested the Headline
Third-Quarter GDP Growth of 1.9% Should Have Been 1.7%, Possibly 1.4%

Stronger-than-Expected Third-Quarter Payroll Growth Was Bloated by
Inconsistent Seasonal Adjustment Revisions and Was Weak Year-to-Year,
While Headline Unemployment Notched Higher Across-the-Board

Flummoxed FOMC Has Resumed Its Balance Sheet Expansion
In an Effort to Stabilize Systemic Liquidity