The Most Dovish Interest Rate Hike Ever

Manufacturing is in recession and the overall economy will likely join the manufacturing sector next year. In fact, we lost manufacturing jobs again this month.

Everyone is still convinced that the Federal Reserve is about to raise interest rates next week. They might just do it now because Janet Yellen has basically assured everybody that it does not matter if they raise rates now, what matters is what they will do afterwords. She is basically trying to take the sting out of it by making this the most dovish interest rate hike ever. (SPDR S&P 500 Index ETF (SPY), SPDR Gold Trust ETF (GLD))

 Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

U.S. Economy: The Recovery is Ending

Manufacturing is already in a recession. Look at the ISM number that came out last week at a 6 year low. Even the Services sector ISM came way below estimates. Retails sales have been abysmal, consumer confidence is going down. All signs point that the recovery is ending.