North American economy in retreat

Fed dot plot is useless
www.reuters.com/article/us-usa-fed-path-analysis-idUSKCN0VN0PU
This is probably the best point in the article
"Part of the problem is that it is consistently wrong," said Tim Duy, an economics professor at the University of Oregon. "The second part of the problem is that the Fed doesn’t seem to recognize how terrible their forecasts have been."

Japan's negative rates back fire "This is a reverse policy shock. We are reaching the limits of quantitative easing as we know it," said David Bloom,
Central Banks are losing control
www.telegraph.co.uk/finance/economics/12...hits-the-limits.html

TD is saying Bond market signalling 50% chance of US recession
www.kitco.com/news/2016-02-10/50-Chance-...rkets-ndash-TDS.html

San Francisco Fed President John Williams said on Saturday, stating there was a "strong case" for raising interest rates next month provided that U.S. economic data does not disappoint. "Assuming that we continue to get good data on the economy, continue to get signs that we are moving closer to achieving our goals and gaining confidence getting back to 2% inflation...if that continues to happen there's a strong case to be made in December to raise rates." Williams is a closely watched policy maker who often signals the Fed's consensus position on monetary policy.

Fed soon be under more scrutiny. The House of Representatives passed the most important monetary reform bill since Humphrey Hawkins in 1978. This happened today with the decision to send to the Senate the Fed Oversight, Reform, and Modernization Act
www.nysun.com/editorials/the-ryan-revolution/89355/

See if this pic works. I think she is looking at the market screen going down

Oh oh bad economic news today Retail sales increased just 0.1 percent in October, while the producer price index actually fell, continuing a trend.

www.cnbc.com/2015/11/13/economy-delivers...ache-to-the-fed.html

"What a turn of events?!" Lindsey Piegza, chief economist at Stifel Fixed Income, said in a note. "Just when the market is convinced the Fed will raise rates at year-end based on one good employment report, we are quickly reminded that there's more to the equation than just a one-off nonfarm payroll increase."

if the markets fall much more Yellen will soon be talking no increase

Seen this today from New York Federal Reserve President William Dudley.
"It is quite possible that the conditions the committee has established to begin to normalize monetary policy could soon be satisfied," Dudley said Thursday at the Economic Club of New York.

Lots of Fed Heads talk today, I bet they talk up the economy! I will post some links later

Yes, Craig Roberts has been in the trenches at the US Treasury and the Wall Street journal, he knows what he is talking about. He really kicked the US main stream media in the teeth too! What a pitiful situation, I think it has probably become worse than what communist was??

I guess that is why they need those phony jobs reports to keep the $ strong. I heard a good interview
with Dr Craig Roberts
kingworldnews.com/dr-paul-craig-roberts-...ailable-now-11-7-15/
He says even giving the # credit with the birth death rate model all the jobs created were low quality and the prime work force 25 and bit older lost another 100,000 jobs or so. Also zero manufacturing jobs

If you ever wondered if the US is concerned about the dollar, wonder no more. This is from an interview with Secretary of State John Kerry, it is back in August but I just happened to read it now

When asked about negotiating a better nuclear deal with Iran, this was part of his response

"Can you imagine trying to sanction them after persuading them to put in phased sanctions to bring Iran to the negotiating table, and when they have not only come to the table but they made a deal, we turn around and nix the deal and then tell them you’re going to have to obey our rules on the sanctions anyway? That is a recipe very quickly, my friends, businesspeople here, for the American dollar to cease to be the reserve currency of the world – which is already bubbling out there".

Read more: translations.state.gov/st/english/texttr...7.html#ixzz3pP0FpH00