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Two important takeaways from today's European GDP estimates. First, Europe's economy had already turned sour at the very moment its Economists and officials were most confident. The inflection was January...2018.
alhambrapartners.com/2019/08/14/eur…
alhambrapartners.com/2019/08/14/eur…
Germany is on the verge of recession, or is already in recession, because it has been at the leading edge of what is really causing this global mess. Again, inflection point is the same. January 2018.
alhambrapartners.com/2019/08/14/eur…
alhambrapartners.com/2019/08/14/eur…
What happened to Germany is also happening elsewhere, meaning that while the German economy is leading it is by no means alone. Everyone is moving downward if so far to varying degrees.
alhambrapartners.com/2019/08/14/eur…
alhambrapartners.com/2019/08/14/eur…
And finally, the second point. What happened in January 2018 that would've set the entire European system on this "unexpected" course? What is it that no one ever factors into their econometric equations? What is the thing nobody watches because why would they with all those QEs?
