David Rosenberg – What Went Wrong?
Greatest Economist Ever?
“Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it” -Albert Einstein
D’oh
Consensus said…
exactly a year ago that:
- The fed funds rate would be 1.25%
- The 10-year T-note yield would be 3.0%
- WT! would be US$75 per barrel
- The S&P 500 would be at 2,233
- Canadian dollar would trade at 031.16 or 86.2 cents US.
David Rosenberg – Perpetually Optimistic – But A Dose Of Reality Sets In
David Rosenberg – Moving The Goalposts On The ‘Dots’
[drizzle]
David Rosenberg – Is This An Apology For The December Rate Hike?
Notes:
Fed Chairperson Janet Yellen at Economic Club of New York – March 29th 2016
David Rosenberg – McKinsey On Finance: Perspective On Corporate Finance & Strategy
Findings from McKinsey & Company:
“While we cannot say for certain whether these sectors will deleverage, we do know that nearly every significant financial crisis in the post-World War II period was followed by a lengthy and painful period of deleveraging. These episodes lasted on average six to seven years, with total debt as a percentage of GDP declining by muggy 25 percent. GDP contracted in the initial years of deleveraging but rebounded in the later years. If history is a guide, therefore, we would expect a significant period of deleveraging to come, which will dampen GDP growth”
See full slides below.
