This is an update to a post the other day when Durable Goods was released.
Watch the video:
Now, economists were shocked when Q2 GDP came in at 2.7% because they were anticipating growth of under 2%. This isn’t a scenario where I am harping because they were a at 3.0$ and it came in at 3.3%. we are talking about error rates here in excess of 50%. Don’t forget they expected durable good to be DOWN .4% and they were UP 1.4%.
These are fantastic error margins and when you combine the two, it simply means that economists are FAR too negative in their outlook. Unemployment, by every historical measure is low…
Take what these guys say with a grain of salt…
Disclosure (“none” means no position):
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