Horror For US Economy As Data Falls Off Cliff
The last month has been a horror show for the U.S. economy, with economic data falling off a cliff, according to Mike Riddell, a fund manager at M&G Investments in London. "It seems that almost every bit of data about the health of the US economy has disappointed expectations recently," said Riddell, in a note sent to CNBC on Wednesday. "US house prices have fallen by more than 5 percent year on year, pending home sales have collapsed and existing home sales disappointed, the trend of improving jobless claims has arrested, first quarter GDP wasn’t revised upwards by the 0.4 percent forecast, durables goods orders shrank, manufacturing surveys from Philadelphia Fed, Richmond Fed and Chicago Fed were all very disappointing."
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"Interest Rates Are Amazingly Low And That, Thanks To Ben Bernanke, Is Driving Everything, We’re On The Verge Of A Great, Great Depression. The Federal Reserve knows it." "We have many, many homeowners that are totally underwater here and cannot get out from under. The technology frontier is limited right now. We definitely have an innovation slowdown and the economy’s gonna suffer." Wall Street Baffled by Slowing Economy, Low Yields Wall Street is having a hard time figuring out what to do now that the U.S. economy appears to be sputtering and yields are so low, Peter Yastrow, market strategist for Yastrow Origer, told CNBC. "What we’ve got right now is almost near panic going on with money managers and people who are responsible for money," he said.
READ ENTIRE ARTICLE
The last month has been a horror show for the U.S. economy, with economic data falling off a cliff, according to Mike Riddell, a fund manager at M&G Investments in London. "It seems that almost every bit of data about the health of the US economy has disappointed expectations recently," said Riddell, in a note sent to CNBC on Wednesday. "US house prices have fallen by more than 5 percent year on year, pending home sales have collapsed and existing home sales disappointed, the trend of improving jobless claims has arrested, first quarter GDP wasn’t revised upwards by the 0.4 percent forecast, durables goods orders shrank, manufacturing surveys from Philadelphia Fed, Richmond Fed and Chicago Fed were all very disappointing."
READ ENTIRE ARTICLE
"Interest Rates Are Amazingly Low And That, Thanks To Ben Bernanke, Is Driving Everything, We’re On The Verge Of A Great, Great Depression. The Federal Reserve knows it." "We have many, many homeowners that are totally underwater here and cannot get out from under. The technology frontier is limited right now. We definitely have an innovation slowdown and the economy’s gonna suffer." Wall Street Baffled by Slowing Economy, Low Yields Wall Street is having a hard time figuring out what to do now that the U.S. economy appears to be sputtering and yields are so low, Peter Yastrow, market strategist for Yastrow Origer, told CNBC. "What we’ve got right now is almost near panic going on with money managers and people who are responsible for money," he said.READ ENTIRE ARTICLE
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