"Unprecedented Amount of Construction in the Bay Area"

So much for the Austrian-lites who thought the December 2015 Federal Reserve rate hike would crash the economy and that the Fed would have to reverse the hike.  It is 2 1/2 years later and the boom is on and there have been 5 additional rate hikes by the Fed since. And still no recession.

Indeed, Fed money supply is so powerful that a construction firm just put out a letter advising that there is an unprecedented amount of construction in the bay area and that they will need to pour cement after regular working hours.

That said, for the first time since I called the 2008 financial crisis in real time (detailed in The Fed Flunks), I am a seeing serious deterioration in key data.

The latest Fed-created boom may be over in a couple of months. I have put out a Special Edition of the EPJ Daily Alert today discussing the problems I see developing. New subscribers to the ALERT will receive this Special Edition. Details of the four different ways to subscribe to the EPJ Daily Alert are here.

-Robert Wenzel