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Remember The "European Recovery"?

Submitted by Tyler Durden on 01/27/2014 14:42 -0400

As all eyes are focused on US earnings and asset-gatherers cherry-pick beats and ignore the bellwether misses, we thought a gentle reminder of the other seemingly unbreakable 'meme' of the moment - that of Europe's recovery - was in order. The following chart, presented with little comment of schadenfreude, should clear up any doubts about whether Europe's economy is on the up... or down...

So, earnings growth expectations have collapsed from an inordinately hope-strewn +9% at the start of December to 0% (i.e. no growth whatsoever) last week...

(h/t @Not_Jim_Cramer)

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Mon, 01/27/2014 - 14:45 | 4371906 Bearwagon

So down it is? Not that dire. There is much space at the bottom. ;-)

Mon, 01/27/2014 - 14:50 | 4371940 midtowng

9% to zero in just a couple months! Why aren't stock prices crashing?

Mon, 01/27/2014 - 14:53 | 4371956 Bearwagon

Because this is a rigged casino - not a market.

Mon, 01/27/2014 - 15:07 | 4372024 Chris Jusset

Is that graph going up or down? We need red arrows to guide us!

Mon, 01/27/2014 - 15:13 | 4372037 SamAdams

More Arrows!!! Can't discern without them!!!

Wait, I thought adding more debt to fix debt was going to cure debt?

That the economy was growing and all was saved?

Isn't that what the International Bankers were selling?

Mon, 01/27/2014 - 15:21 | 4372074 dontgoforit

"We will vow to endeavor to perceivere." We will borrow ourselves into prosperity.

Mon, 01/27/2014 - 16:34 | 4372358 Sudden Debt

at least in Vegas I got free drinks at the table... WHERE'S MY MARTINI BITCHEZ!!! I WANT MY FREE MARTINI ON THE HOUSE!!!

Mon, 01/27/2014 - 15:09 | 4372016 whatsinaname

Just like the SOTU ? Last year when Nat Gas was around 3/ BTU we were to use it to power our recovery. Now it is at 5+ what do we say ? Nat Gas again ?

Mon, 01/27/2014 - 14:47 | 4371908 CoonT

Just like every game of Monopoly that you've ever played in your life; let's get this board airborne already!

Mon, 01/27/2014 - 14:46 | 4371918 Rainman

I'll take BTFD for zero, Alex.

Mon, 01/27/2014 - 14:47 | 4371920 _ConanTheLibert...

Oh shit.

Mon, 01/27/2014 - 14:47 | 4371925 Dr. Venkman

9%. Haha. Just a biiiiiiit outside.

Mon, 01/27/2014 - 14:47 | 4371926 Grande Tetons

This is what Draghi means by subdued.

Mon, 01/27/2014 - 14:49 | 4371928 adonisdemilo

What else do you expect from the Socialist Welfare Statist Republic of Europe.

Bunch of fucking idiots.

Mon, 01/27/2014 - 15:22 | 4372080 dontgoforit

And we seem to have found that trail and are following dutifully.

Mon, 01/27/2014 - 17:07 | 4372495 EuropeanBankster

Föck you ignoraaant amerikan aaasehåååle

Mon, 01/27/2014 - 14:51 | 4371938 Uber Vandal

When does that line punch a hole into the basement, then the bedrock?

Mon, 01/27/2014 - 14:52 | 4371943 williambanzai7

Mon, 01/27/2014 - 15:46 | 4372187 Sudden Debt

no bidet?!

Mon, 01/27/2014 - 16:45 | 4372396 DOT

Just above France in the spray can.

Mon, 01/27/2014 - 15:58 | 4372245 jmcadg

Banzai, pure genius. France lolz.

Mon, 01/27/2014 - 15:58 | 4372247 WaEver

A hole in the ground would have done the trick for France
Vive le camembert

Mon, 01/27/2014 - 14:55 | 4371966 Sofa King Confused

Creative way WB for saying in the shitter

Mon, 01/27/2014 - 14:57 | 4371979 Professorlocknload

Chart must be inversly inverted 'er sump'n. Teevee said it's all good. Gumnut's gonna buy all the yellow iron from CAT and every crossroads in the world gets a new bridge.

Mon, 01/27/2014 - 14:59 | 4371986 vote_libertaria...

Yet, for some reason, CNBS won't trot out the analysts with those calls 12/5 and mock them.

Mon, 01/27/2014 - 15:04 | 4372008 Yen Cross

lol . ECB: MFI balance sheets

Mon, 01/27/2014 - 15:10 | 4372034 spekulatn

I don't have to show you no stinkin earnings!!

http://www.maniacworld.com/we-dont-need-no-stinking-badges.html

Mon, 01/27/2014 - 15:13 | 4372046 ebworthen

Looks like Europe needs some economic ED medicaiton STAT!

Pharmaceutical moniker: "QECoxaflippin"

Mon, 01/27/2014 - 15:20 | 4372070 carbonmutant

That's the kind of chart that encourages foreign investors to help prop up our markets...

Mon, 01/27/2014 - 15:21 | 4372077 walküre

Manager Magazine is rumored to have gathered enough data to challenge the official goverment statistic on economic growth in Germany for 2014 and is predicting a boom with 2.8% growth annualized.

That would be crazy if true considering we're talking long established economy and not an emerging or developing economy.

Propaganda at its finest, you bet. The incomes are crappier than ever and cheap labor is flooding the employment market in Germany from Eastern Europe. Germany is offering benefits to all kinds of new immigrants from the East as of 01/01/14. Its going to bankrupt the state eventually but who cares right? As long as more and more Chinese are buying BMW, Audi and Mercedes the economy is booming but the population in Germany has less and less money.

No interest on savings, stocks at all time highs. Money is being spent into the economy. Cheap loan rates on anything and Germans loading up on debt. The country had a high savings and low personal debt rate.

Fuck you Draghi!

Mon, 01/27/2014 - 15:31 | 4372114 Legolas

Maybe there won't be a recovery this time .

http://www.shtfplan.com/headline-news/matt-drudge-issues-warning-have-an...

Mon, 01/27/2014 - 15:40 | 4372155 skydrake

Time to buy

Mon, 01/27/2014 - 15:48 | 4372199 Yen Cross

HELOC and BTFD! /s

Mon, 01/27/2014 - 15:48 | 4372207 disabledvet

Thank God equities have sold off dramatically and their currency isn't over valued otherwise I might need to change my buy recommendation.

Oh look! Another long only fund!

Mon, 01/27/2014 - 15:53 | 4372224 Rising Sun

europe is FUKT!!!

Mon, 01/27/2014 - 16:01 | 4372261 jmcadg

Any chance you could add Draghi puking into the German toilet?

Mon, 01/27/2014 - 16:02 | 4372262 wagthetails

actually quite brilliant...so stock with continue to risk when the headline flashes "Stocks beat earning estimates by 300%". i love percentages on infinitesimal numbers.

Mon, 01/27/2014 - 17:06 | 4372491 pashley1411