Monetary Base Skyrocketing As Unemployment Hits 23.4%

Banking-System Stress.  With Fed monetization of U.S. Treasury debt at 90.5%, and with June monetary base annual growth soaring above 20%, the lack of meaningful movement in June M3 annual growth is suggestive of an intensifying liquidity crisis in the bank system, as discussed in the Hyperinflation Watch.

No Economic Recovery Here.  The June 2013 report on labor conditions, published July 5th by the Bureau of Labor Statistics (BLS) included some harsh indications of economic deterioration in the broader unemployment detail (ShadowStats measure hit a record high for the series), along with heavy seasonal-factor distortions in the headline payroll data.
Broader Unemployment Showed Deteriorating Conditions.  The headline unemployment rate (U.3) was unchanged in June 2013 versus May, at 7.6% (also unchanged at the second decimal point at 7.56%) ... Not-seasonally-adjusted, June U.3 rose to 7.8% from 7.3% in May.
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