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’
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):
“… 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.