Intractable and Deteriorating Conditions Still Signal No Imminent Economic Recovery, Irrespective of Some Bounces in March Activity Against Weather-Driven February Collapses.Dollar and Stocks, Despite Central Bank or Other Systemic Machinations to the Contrary Evolving Circumstances Remain Extremely Strong for Gold and Silver, and Weak for the U.S.Chances Are Reduced for Moderating Extreme Monetary and Fiscal Policies.Negative Implications Here for the July 29th GDP Benchmarking.Economic Recovery Is Not as Close as Hyped by the Consensus Outlook.April 2020 Pandemic/Economic Trough Revised Lower by 5.1% (-5.1%).Manufacturing Sector Has Never Recovered Pre-Great Recession Peak Levels.New Numbers Show Production Peaked in August 2018 and Entered Protracted Decline, February 2020 Pre-Pandemic Peak Was 1.11% (-1.11%) Below the Pre-Great Recession Peak.Old Numbers Showed Production Peaked in December 2018 and Flattened Out, February 2020 Pre-Pandemic Peak Was 3.75% Higher Than the Pre-Great Recession Peak.New Numbers Indicate the Economy Was in a Deepening Recession, Well Before the Pandemic Shutdown and Collapse.Benchmarked Industrial Production Revised Sharply Lower Both Manufacturing and Mining Were Hit Hard.
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