Saxo Bank CIO Warns “It’s Time To Be Defensive… Very Defensive”

by Tyler Durden
ZeroHedge.com
08/27/2014

“Germany will flirt with recession by Q4 of this year,” warns Saxo Bank’s Chief Economist Steen Jakobsen, adding that “the US is in worse shape than most people believe.” It’s important to underline, he notes, that major US investment houses, and certainly every single sales person we talk to, believe US is about to accelerate in growth not slow down. Jakobsen warns though that Q3 could be ok but the real damage will come in Q4 as the lead-lag factor of geopolitical risk, lack of reforms and excess global supply leads to low inflation. His conclusion, “it’s time to be defensive… very defensive.”

The Rest…HERE

This entry was posted on Wednesday, August 27th, 2014 at 4:39 pm and is filed under Economics, Government Evil. You can follow any responses to this entry through the RSS 2.0 feed.