Real personal spending declines the most since the financial crisis. We have seen this pattern before, confidence rises as spending decreases, this eventually ends in a recession.
Buying plans of America declined sharply. Something very interesting is happening with Libor, the rates have risen for 37 months in a row. Watch the 10 year, we have seen this indicator before and it signals a recession.
We are seeing indicator after indicator showing us that the economy is not about to crash it is crashing.
- Source, X22 Report
