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Given the better-than-expected ISM print earlier, one could be forgiven for believing that the US is just fine thank you very much.

By: capt_nemo in ROUND | Recommend this post (0)
Fri, 02 Dec 11 4:53 AM | 45 view(s)
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Our earlier discussion of the dispersion in the ISM sub-indices, and yesterday's discussion of the PMI 'catch-up' nature of the very recent pre-holiday seasonal orders given the unusual slump in October may weaken the decoupling view but strategists will extrapolate trends as normal. Whether you believe in tooth-fairies or decoupling, Goldman's Global Leading Indicator continues to accelerate downward and moved into negative territory for the first time since August 2009. Amid a broad deterioration in components their outlook for global growth remains soft, even as the US export miracle remains alive and well.

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Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.




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