February 14, 2014

Mark Zandi, Call Your Office: 4Q13 GDP Is Probably Getting Revised Down; Santelli Notes That ‘Jump Starts’ From the Fed Have Failed to Make the Economy ‘Self-Sustaining’

Filed under: Economy,Taxes & Government — Tom @ 10:34 am

On the ADP conference call last week, Mark Zandi of Moody’s said that he “Sees no evidence to argue that Q2 will be lower than 3.2%.”

Well, some “evidence” must have since materialized.

Rick Santell at CNBC says it’s going to come in a 3.0% or below, and that 1Q14 is going to be in the 2% range (via Zero Hedge):


Snips:

“… we are seeing all the revisions that I look at for the next addition of our second look at fourth quarter GDP most likely to be under 3%.”

“… maybe more important is the fact that many shops are also downgrading Q1. And it isn’t from 4% to 3%, you know, we were all thinking we were going to get the lofty numbers. We’re looking at Goldman, for example, Goldman at 1.9%.

“… the sustainability is the issue, and many of these … strategies to jump-start the economy work. But they don’t jump-start it to the point where it’s self-sustaining.”

Five years later, and the economy still isn’t self-sustaining. What a colossal failure.

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1 Comment

  1. [...] especially because the economy, which has “unexpectedly” begun to show signs of significantly slowing, may cause the still completely unacceptable but lower deficits seen during the past year or so to [...]

    Pingback by BizzyBlog — February 21, 2014 @ 7:03 am

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