Below is a brief excerpt transcribed from Monday's edition of The Macro Show hosted by Hedgeye CEO Keith McCullough.
On Friday, GDP got negative news.
I mean negative news flow, but coincidentally it was also negative news.
Of course the Street, the Old Wall, and the media in all their glory have no clue what the U.S. Retail Sales Control Group is, or what it meant. You can see on the chart where it slowed again to a seven-month low. That puts our GDP Nowcast now lower at 0.36%.
So, this is where we’re at. It’s the lowest level we’ve seen in almost three years on GDP.
What could possibly go wrong.