Two months ago, Carmel Asset Management came out with what we dubbed “Spain: The Ultimate Doomsday Presentation.” Since that day Spanish yields have exploded, the domestic (and global) stock market has collapsed, and as of hours ago, Spain for the first time requested an official bail out from its European partners. But Spain was easy – only Nobel prize winning economists and TV anchors could not foresee the final outcome [...]
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via ZH Back in May when we presented our humble and succinct analysis on what the preliminary 1.8% GDP looked like, we said “Ex the now traditional inventory build [of 1.2%], Q1 GDP growth was sub 1%” basically being the only party who said that aside for the “old faithful plug” better known as the traditional BEA fudge to get GDP to whereever the administration wants it, growth [...] |
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