Since we last stirred you with our insights on austerity, Europe’s woes have continued with almost all of Southern Europe now reporting negative GDP growth; JP Morgan has embarrassed itself with a loss that CEO Jamie Dimon called stupid; and markets have reacted as we thought they would. While JP Morgan’s highly publicized loss has…
The economic news of late has not been good. Last week the UK officially went into recession, followed this week by Spain. At home we continue to receive mixed signals. Last week’s durable goods report showed a significant pullback, followed by a GDP report worse than most expected, showing the economy grew at a slow…
