There is absolutely no “possible way” tomorrow’s second quarter GDP release from the U.S will meet expectations. It’s impossible in any real world terms.
However, considering the “unprecedented times” we find ourselves in as of late ( where employment data is now consistently fudged, housing numbers, PPI, not to mention U.S media coverage of just about everything on Earth ) one has to wonder “just how far they’ll go tomorrow” or if we’ll honestly get a fair kick at the can.
A number under 3% growth would essentially suggest that ( coupled with Q1’s “disaster nose dive” of -2.9% ) The U.S will have generated 2 straight quarters net negative growth – signaling recession.
Recession – a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.
Now you’d have to appreciate the significance of this, when you consider 6 straight years of printing money like toilet paper / propping up the largest Ponzi scheme known to man, with a consistant message to “the people” that everything has been moving according to “plan”.
Only to find yourself in recession?
I find it very hard to imagine we’ll get an accurate/legit number but “even still”……anything, and I mean “anything” less that 3 % and Houston?
I think we’ve got a real problem here.
This could very well be the “event” we’ve been looking for to break out of these horrible / dead / ranging / flat currency markets so…traders should “most certainly not” take this one for granted.