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Source Data:
St. Louis Fed: Custom Chart
Q4 GDP Tracking: Mid 2% Range
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From Goldman:
We left our *Q4 GDP tracking estimate unchanged at +2.4%
(quarter-over-quarter annualized)* but boosted our Q4 domestic final sales
forecas...
3 hours ago
3 comments:
QE -> more competitive dollar -> more exports (yeay!)
more exports -> less output to consume domestically -> more inflation (yeay!)
Deflation with $40T of debt is the road to default.
http://research.stlouisfed.org/fred2/graph/?g=sHf
shf indeed!
Export to whom?
My fear, fwiw, is $40T is an unsolvable problem. All the poles are on the left-hand of the plane to borrow a really old engineering joke. So we're faced with deflation or hyperinflation, there is no in between. Conventional wisdom is that deflation can't happen. The Fed/TPTB won't allow it.
However, I've never seen everyone make the same bet and have it pay-out. There's no one left to pay it, which is back to the export solution. Export, to whom?
AllanF (& Troy),
Export, to whom?
To all the other countries desperate to export to us of course!
Ba dum tssshhh
Sigh.
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