Still trending lower but still positive and better than expected- no recession here yet:

Slowing but still positive growth:

Employment indicators remain strong- no recession here:

Up nicely and better than expected:

Domestic and foreign demand holding up. US imports are a material driver of non US domestic demand:

The Fed again raised its policy rate by 0.75%, in reaction to the strong economic data. Housing has slowed but employment and income has continued to grow supported by the pro active growth of deficit spending. 

The Fed believes that raising rates, which directly increases federal deficit spending to pay the higher rates on the public debt, works to slow the economy. However, with the public debt now as large as it is- the debt/GDP is double what it was during the last cycle- the data tells me the interest payments are instead adding enough to the economy’s income to be sustaining demand and inflationary pressures.  That is, the Fed has it backwards, as do the vast majority of analysts and market participants.   

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