So we get another nail in the US rate rise coffin.

Europe’s economy is not growing as fast as expectations as its GDP numbers came out short of projections.

Add China’s devaluation in order to spur growth and the Atlanta Fed bank lowering US GDP to 0.7% and the numbers don’t look good

It’s time to face the fact that it’s a global recession we are headed for and if central banks were not pouring liquidity into the banking system, then we would be in a depression.

If you are not part of the 1 percenters — who are awash in leverage to make out well in the markets — then you know what I mean.

Two items of note:

Thanks to you, Thursday’s Trump post was the best day on Gray’s Economy in a will for visits.

Secondly, I be taking next week off, for a little R&R in the Catskills. See you on the 24th as we ramp up to the non-rate rise Fed meeting.