If we really have the strongest economy ever, especially if manufacturing is supposedly the engine leading the train, why did the June Richmond Fed Manufacturing Index not only miss exceptions, but tumble to its lowest level in over six years?
Donald Trump won the White House in 2016 by calling out the vast economic problems phony government statists covered up. His solution was less government and tax cuts. The Democrats will win in 2020 with the same message, but a different solution; more government and free stuff!
Ironically those correctly worried about the failure of our fiat monetary system, who make the mistake of buying Bitcoin, will lose more purchasing power by the time the system fails than those not worried at all who do nothing. If only they were buying gold and silver instead!
If the U.S. Economy is really the strongest in history, why is the service sector growing at its slowest pace in 2 years, factory orders near a 3-year low, and small business employment collapsing at its fastest pace in over 9 years?
Gold and the U.S. Dollar are over-reacting to June's jobs number that can easily be revised lower.
The economy is slowing and job losses are typically the caboose not the engine of the recession train. The Federal Reserve will cut interest rates, it will not prevent recession, but it will boost inflation!