Pending Retail Payroll Revisions Show an Unfolding Recession;
November Real Retail Sales Suggested a Fourth-Quarter 2019 Contraction,
Signaling a Second Consecutive Troubled Holiday Shopping Season

November Monthly Growth in Real Average Weekly Earnings for All Employees
Held Unchanged at 0.0% for the Third Straight Month

The Fed Knows There Is No Sustainable, Moderate U.S. Economic Growth,
Contrary to Its Happy Hype, Yet the FOMC Is Unable to Cut Interest Rates

FOMC Will Continue to Meet Any Unexpected Funding Needs (QE) of Its
Parent Banking System, to Maintain Systemic and Market Stability and Liquidity

Where the FOMC Fully Understands the Problems In the
Overnight Funding Markets, It Does Not Want to Go Public with Them

FOMC Has Not Been Open About the Major Conflicts and Issues It Faces,
Suggesting Significant Systemic, Financial and Economic Crises May Be at Hand

Federal Reserve 2008 Bailout of the Failed Banking System Appears Only to Have
Bought Time; Not to Have Restored a Workable, Stable Financial System, and
Not to Have Allowed a Full, Sustainable Economic Recovery for Main Street, U.S.A.

Week Ahead: Some Headline Numbers Will Benefit from the End of the GM Strike