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\\n\\t* Tomorrow we have the most highly anticipated Fed meeting ever, but this will not be the last time I'll say this
\\n\\t* We'll also be anticipating October and December if the Fed does not raise interest rates in September
\\n\\t* The odds are they won't do it
\\n\\t* I put a Bloomberg story on my Facebook page: Yellen's former aid says a rate hike would be a serious error
\\n\\t* Why? The official target for the Fed Funds Rate now is at a range of 0 to .25 basis points
\\n\\t* The Fed is contemplating a rate of .25 which is the high end of the existing range
\\n\\t* If they decide to keep the rate at .25, all they've done is fixed the rate at the high end of the range
\\n\\t* This is not even a rate hike
\\n\\t* Why would this be a disaster?
\\n\\t* Isn't that an admission that the economy is fragile?
\\n\\t* When Alan Greenspan lowered interest rates to 1% after the dot com bubble and after Sept 11, people though, this is ridiculous!
\\n\\t* Now we are talking about raising rates to a quarter of that and it is considered a disaster
\\n\\t* What is going to change between September and October and October and December - unless they get worse
\\n\\t* The serious error is to prick the bubble economy
\\n\\t* The more serious error is for the Fed to raise rates and then admit that it was a mistake they lose credibility
\\n\\t* We're going into recession regardless
\\n\\t* If they raise rates, they will have to launch QE4 sooner
\\n\\t* Any rate hike will sow the seed of a rate cut
\\n\\t* On the topic of a recession, let's talk about the economic news we got today
\\n\\t* The first release we got was August Retail Sales
\\n\\t* A rise of .3 was expected and we got a gain of .2
\\n\\t* These are not great numbers
\\n\\t* The worse number of the day was Empire State Manufacturing: last month's horrible number was -14.92 the lowest since 2009
\\n\\t* Wall Street was looking for -.5
\\n\\t* September was -14.67; barely an improvement
\\n\\t* Back to back the worse numbers since the great recession
\\n\\t* The media barely reported on this number at all, but if it were good, it would have been in the headlines
\\n\\t* The Redbook Year over Year Same Store Sales Index has collapsed - right now it is at 1.3
\\n\\t* Previous years ranged between 3% and 5%
\\n\\t* Industrial Production was expected to fall by .2, but fell by .4
\\n\\t* Capacity Utilization dropped from 78 last month to 77.6
\\n\\t* Manufacturing output dropped as well to -.5
\\n\\t* Auto manufacturing had its biggest drop in 4 years
\\n\\t* I have been talking on this podcast about the Auto Bubble and we are getting more evidence that the bubble has burst
\\n\\t* The biggest decline in manufacturing in 4 years is pretty good evidence
\\n\\t* The fact that there is a huge inventory of unsold cars on dealers' lots is evidence that the market is saturated
\\n\\t* We got more news from business inventories: up .1 as expected
\\n\\t* Sales are also falling, so the inventory to sales ration is still 1.36, a notch below the record high from the '08 financial crisis
\\n\\t* Inventories have to come down a lot more because sales are not there
\\n\\t* They are not there because the economy is weak
\\n\\t* Earlier strong GDP growth was from inventory buildup
\\n\\t* All the evidence points to recession
\\n\\t* Employment numbers, which are theoretically good, are a lagging indicator
\\n\\t* All the leading indicators of the economy are flashing a warning
\\n\\t* Yet the media is ignoring the warnings and paying attention to Janet Yellen
\\n\\t* She is pretending the economy is strong so she can pretend to raise rates
\\n\\t* We need to allow the economy to go through that unfortunate crisis and allow the bubble economy to burst and the real economy to heal
\\n\\t* The Federal Reserve shot us up with all these monetary drugs so unfortunately we have to check into monetary rehab<...\\n\\nOur Sponsors:\\n* Check out Rosetta Stone and use my code TODAY for a great deal: https://www.rosettastone.com/ \\n\\nPrivacy & Opt-Out: https://redcircle.com/privacy"