Tail Chasing Act
The global economy has been slowing for over a year if not longer. Overoptimistic economists, remain well behind the curve as usual, forever chasing their tail.
Once again the OECD Cuts Global Growth Forecast and Warns of Growing Risks.
The OECD cut its global growth forecasts, saying the economies of Brazil, Germany and the U.S. are slowing and warning that some emerging markets are at risk of exchange-rate volatility.
Global gross domestic product will expand 3.0 percent in 2016, the same pace as in 2015 and 0.3 percentage point less than predicted in November, the Organization for Economic Cooperation and Development said Thursday in a report.
OECD Growth Estimates
Still Too Much Optimism
Those are significant cutbacks, yet still too optimistic. Europe and the US are way overstated.
If China achieves its target, it will do so at the expense of creating debt bubbles even bigger than they already are.
I expect a global recession defined as 2% global growth or less. The cutoff used to be 3%, but to eliminate using the word recession, the standard is now 2%.
For more on China’s economic miracle in reverse, please see China Rebalancing in Reverse: Nonperforming Loans Jump 51% from 2014 as Lending Hits Record High.
Mike “Mish” Shedlock
CUE UP TO 6 MINS ABOUT DEUTSCHE BANK. SHARE PRICE FALLEN 50% BECAUSE OF $75BN DERIVATED CONTRACTS.
https://youtu.be/udnwKdJveUk
POPE AND RUSSIAN PATRIARCH MEET
MAY 2016 WILL BE ANNOUNCEMENT OF A NEW WORLD RELIGION
OBAMA MET WITH ROTHSCHILDS IN CALIF
WON’T LET HIM DEVALUE USD BECAUSE IT WOULD DISRUPT WORLD ECONOMY
NO MORE CREDIT FOR THE USD FASCISTS
ANTONIN SCALIA MURDERED BY A DART TO THE HEART. REASON FOR ASSASSINATION WAS HIS DISAGREEMENT WITH PARIS ACCORD ON GLOBAL WARMING. BODY HAS BEEN CREMATED.
DEATH OF SCALIA AND APPOINTMENT OF REPLACEMENT WILL PACK THE COURT 5 TO 4 INFAVOR OF THE FASCISTS. TEXAS IS BUSH TERRITORY.
CLINTONS: HILLARY INDICTMENT PAPERS DRAWN UP BUT NOT DELIVERED. BILL HAS BRAIN DEFUNCTION & WILL DIE.
LAST WEEK DHS COMPUTERS HACKED AND INFO GIVEN TO PENTAGON WHITE HATS.
PENDING BANKRUPTCY OF USA GOVT AND CIVIL WAR. EMPTY SUPERMARKET SHELVES. BANK HOLIDAYS. CUSTOMERS ENTERING THE BANK 3 @ A TIME UNDER ARMED GUARDS TO DO BUSINSES IN BANK–WELLFARGO SCENARIO. FASCIST BUILDING FEAR AMONG THE AMERICAN PEOPLE TO BUILD COMPLIANCE BUT THE WHITE HATS HAVE DIFFERENT IDEAS: CANCEL DEBT AND RETURN ASSESTS TO THE PEOPLE, NEW CURRENCY TO REPLACE FED RES NOTES.
CUE UP TO 6 MINS ABOUT DEUTSCHE BANK. SHARE PRICE FALLEN 50% BECAUSE OF $75BN DERIVATED CONTRACTS.
ISRAEL HAS LOST 65% OF ITS TOURISM BUSINESS.
TURKEY’S AND SAUDI INVASION INTO SYRIA LEAD BY SAUDS WHO WERE PREPARTING TO DEPLOY SOM 350K MILITARY PERSONNEL. RUSSIAN LEAD UN MOVED STOPPED INVASION AS ACT OF AGRESSION. TURKEY BACKED OFF FEARING INVASION OF RUSSIA.
FOUND IN TAIWAN WAS PILOT OF MISSING MALAY AIRLINER 370.
JAPANESE NEGATIVE INTEREST RATES BACKFIRED. INSTEAD OF STRENGTHENING THE STOCK MARKET
Shouldn’t you really be posting your nonsense on zerohedge? Most ZH readers wear their tinfoil hats while they read conspiracy nonsense like yours.
I guess I fail to understand why we would be surprised that economists are overly optimistic. They seldom predict recessions as there job is to sell confidence, and confidence is ALL this market has to survive on. Given that all economic “growth” has been the result of blatant money creation, what other basis for “confidence” do we have but illusion.
Economists imagine population growth is required for economic growth. Earth passed diminishing returns of labor somewhere near 7 billion and a surplus of $2/day consumers.
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