With today’s retail sales in the dumps, investment banks and the Atlanta Fed scrambled to cut their growth projections for the U.S. economy for the third quarter. Just last week, all of the fucktards at CNBC were sucking each other’s dicks, elated by a seemingly runaway +4% growth rate, which has now dissolved into nothing at all.
It’s like a snowman at the beach in the middle of August.
As such, Morgan Stanley slashed estimates by an astounding 50bps today to 1.9%, which may still be optimistic, given that every aspect of the economy, aside from retail sales, shrunk in Q2.
The Atlanta Fed, however, is far more optimistic at 3.5%. They just slashed their estimates too, but it’s a whole 1.6% higher than Morgan’s models.
One of these models is forged together by complete idiots. Time will tell who get the L.
If you enjoy the content at iBankCoin, please follow us on Twitter
Off the financial topic here…
I’ve not had the time to read your posts for the last couple days and read them through only this morning.
I’d just like to say this…
Your command of the king’s English has attained new heights! The verbal expressions on display (especially in “Third quarter GDP…” ) are nothing short of stellar my good man.
Keep calm and vocab on.
Also, speaking economically/financially, bear in mind the world’s stage is being set for the arrival of a “savior” who will deliver the entire globe from the impending monetary catastrophe.
Extra urinal shadows…