Amidst Mounting Inflation Dangers, the Weakening L-Shaped Recovery from the
Pandemic-Shutdown Began to Look Even Softer in July and Early-August Reporting

Revised Second-Quarter GDP and Initial GDI and GNP Reporting
Confirmed the Record Collapse, Wiping Out Five Years of Economic Growth,
Resetting the Inflation-Adjusted Real U.S. GDP to Its Lowest Levels since 2014

With the Below-Consensus, Limited Recovery Unfolding in Second-Half 2020,
Real Value of the Full-Year 2020 U.S. GDP Will Be Lucky to Top That Seen in 2016

Statistical Chicanery Surfaces Along With the L-Shaped Recovery;
Department of Labor Rejiggers New Unemployment Claims for Happier,
Pending Headlines, Without Providing Consistent, Restated Historical Data

Non-Recovering, L-Shaped U.S. Labor Force (Employment Plus Unemployment)
Suggests Protracted Economic Collapse; 4.8 Million Unemployed Are Missing

Industrial Production and Employment Numbers Show Deepening Trouble,
While Booming Retail and Home Sales Are Running Counter to
Sinking Consumer Optimism and Finances

In March, the FOMC Exploded Money Supply and Inflationary Pressures to
Fight the Pandemic-Driven Economic Collapse and Related Systemic Instabilities

Record Year-to-Year M1 Money Supply Growth in Early-August Topped 40%

With August Inflation Pressures Mounting, the FOMC Conveniently Has
Retargeted Its Long-Standing Goal of 2% Core Inflation to the Upside

Mounting Hyperinflation Risks, Heavy Dollar Selling and Systemic Instabilities
Promise New Highs Ahead for Gold and Silver Prices