Steen Jakobsen Warns Of Looming US Slowdown, “I’m Long Gold… And Adding”
by Saxobank’s CIO Steen Jakobsen
ZeroHedge.com
02/27/2015
US Q4 growth revised lower, 0% looms later this year
Europe has consistently beaten the US as regards expectations
Neither EU nor EM have the heft to compensate when US growth fades
Let’s kick off with some data – US Q4 revisions are out today and showed a slowdown from 2.6% to 2.2%.
This makes Q3 (2014) the peak in this cycle and I expect QoQ growth in the US will hit zero by Q3 or Q4. There are several factors for this including rising real rates, mal-investment into energy but most importantly – falling earnings in the US.
The Rest…HERE
