Disclaimer

Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. These days I'm retired, and I can't by law give you advice. I do make mistakes, but I try hard to do my analysis thoroughly, and to make sure my data are correct. Remember: the unexpected sometimes happens. The expected does too, but all too often it takes longer than you thought it would.

The Goddess of Markets punishes (eventually) greed, folly, laziness and arrogance. No matter how many years you've served Her. Take care. Be humble. And don't blame me.

BTW, clicking on most charts will produce the original-sized, i.e., bigger version.

Friday, September 6, 2013

World econ resumes growth. At last!

This shows the weighted average PMI indices for the US, Europe, China and (since the beginning of the year) Japan.  Growth is accelerating.  For most of the last 2 years, these indices have been below 50%, indicating recession.

By slashing government expenditure and raising taxes, Europe manged to push its economy back into deep recession.  But that folly is now past.

My take on it is that growth will increase form here, for now.

[See also yesterday's piece, Fiscal Folly]

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