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Q1 GDP Expectations Are Crashing
In just six short months, expectations for US economic growth in Q1 2015 has been slashed by more than half (from 'trend' 3% to a mere 1.4% growth this week). While consensus is still well above the Atlanta Fed's 0.1% forecast, the sell-side is rapidly being forced to admit it's not just the weather...
GDP growth is collapsing...
and the bounces in forward earnings and US macro data are stalling once again...
Courtesy of @Not_Jim_Cramer, Spot The Hockey-Stick...
Spot the stick pic.twitter.com/7MxGGsAcSh
— Not Jim Cramer (@Not_Jim_Cramer) April 14, 2015
Chart: Bloomberg
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I'm at the point where, no matter the headline or statistic, I just laugh.
As for why it's crashing: it's tax time (fed, state, property and school) and most folks I know don't have the money to pay all of it.