– Europe In Triple-Dip Recession, Goldman’s Internal Model Finds (ZeroHedge, Nov 4, 2014):
Here is Goldman with the loudest warning yet, courtesy of its internal RETINA model, that Europe is now effectively in a triple-dip recession, with Q3 GDP for the Euro area at -0.2%: “We are less than a fortnight away from Eurostat’s publication of its flash estimate of Q3 GDP growth in the Euro area. In today’s Daily, we look through the lens of our contemporaneous tracker of real-time inflation and activity. Since our previous update in mid-October, RETINA’s median estimate of Q3 GDP growth has moved deeper into negative territory, driven largely by a disappointing print for area-wide industrial production in August. The downside risks to our +0.1%qoq judgemental forecast for Q3 GDP now look skewed to such an extent that our point estimate no longer falls within a 50% confidence interval around RETINA’s median reading.“
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Of course they are in triple dip recession, so are we. Putin has effectively isolated both the US and the EU from the rest of the world economy. The rest of the world is doing fine, just the EU and the US are suffering in a debt laden hell.
Putin quietly did to the US and EU what the US brags they did to Russia…….isolated us from the real world economy. All we have is debt, and no matter how you turn or twist it, debt is still debt, and you need economic growth to get free of debt. We have none.
We are in deep trouble, and it will only get worse. I see no answers. Moving troops to the borders of Russia only invites our being hit back, but all the US can offer is destruction, and more destruction.