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Re: The END of "FREE" money from the FED?
The Fed has lowered its GDP forecast from March, but is still forecasting greater than 3% GDP in 2015 (currently 3.0 to 3.2). The Fed has an abysmal forecasting track record, but that has never gotten in the way of using those models and forecasts to set Fed policy.
Average quarterly GDP figures are now habitually lowered with each of the three revisions that are issued following the original headline number.
Just one indicator, USA retails sales in select sectors are falling once again:
"...U.S. retail sales were flat in July, after increasing 0.2 percent in June as sales at auto dealers continued to fall and receipts in furniture and electronics and appliances stores weakened..."
The downward trend in GDP revisions would appear to remain intact, and will be confirmed if the 2nd Q figures are lowered in the coming revision cycle. The Fed's policy going forward into 2015 is anything but certain.
I trust EJ is working diligently on a much more rigorous assessment and dissection of the current US and global economic figures and outlook.
For a concise, readable summary of iTulip concepts developed over the past 16 years and a vision of a challenging next decade and how to navigate it, read Eric Janszen's book "Post Catastrophe Economy".
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