Gerry was talking about the overwhelming bearish commentary to start the week. It’s only gotten worse since he signed off.
Bill Gross, on twtter, is saying the “US economy is approaching recession when measured by employment, retail sales, investment and corporate profits.”
Since the dismal retail sales data, a number a firms are talking about growth near 1% in the second/third quarter, including Merrill Lynch and Goldman Sachs.
It’s not a recession but it’s dangerously close.
The consensus remains at 1.8% in Q2 and 2.2% in Q3 and Q4. For the year, the Fed and economists are at 2.10% but it’s looking like it will be difficult to hit 2.0%.
