Flash Update No. 7
Weakening and Negatively Benchmarked
Annual Payroll Growth Signaled Deepening Recession
As Has Become Commonplace, Monthly Payroll Gains Continued to
Disappoint Expectations, Despite Regular Relative Monthly Boosts from
Downwardly Revised Prior-Month Activity
August Headline Unemployment of 3.7% Held Just a
Notch Above Its Historic Low, Yet Broader Unemployment Measures
Jumped by 0.2% to 0.3% Amidst Deteriorating Employment Conditions
Economic and Systemic Conditions Are Worse than Headlined, Where
Government-Shutdown Bloated Data Have Been Enshrined, Temporarily
Pending August Retail Sales and Production Should Disappoint Expectations
The FOMC Needs to Cut Interest Rates More Aggressively
Than the Quarter-Point Being Suggested for September 18th
Fed Is Boosting Money Supply Growth; M3 Growth Strongest Since 2009
FOMC Easing Should Intensify Shortly;
Renewed Quantitative Easing Remains a Good Bet