Juggling Dynamite

Third read on Q1 US GDP comes in this morning at -2.9% on lowered personal consumption, corporate profits and investment. All [unexpected] of course. Now we will hear from the multitude of talking heads who, did not see this coming but, will now explain why it is backward-looking and irrelevant that the largest economy in the world just registered its largest contraction since Q1 2009. They will all maintain high hopes for a strong rebound in the balance of 2014 of course. It should be noted in that regard however, that even if the final three quarters were able to rebound to an annualized growth rate of 3%, the full year growth rate for this year would still be just 1.52%. About half of the 3% forecasts widely espoused by the US Fed and the sell side financial crew. I know…the real economy doesn’t matter in this brave new world of central bank magic potions. Never worry, always be happy, always expect good news. Good luck.

Danielle was a guest today with Kerry Lutz on The Financial Survival Network talking about recent trends in the world economy and markets. You can listen to an audio clip of the segment here.

Kerry also did an interview today with Nomi Prins the best selling author of All the Presidents’ Bankers: The Hidden Alliances that Drive American Power.  You can listen to an audio clip of the segment here.

Naysayers don’t look now but:

“Britain and Germany have broken records for generating solar electricity in the last few weeks, according to new industry figures.

Germany generated over half its electricity demand from solar for the first time ever on 9 June, and the UK, basking in the sunniest weatherof summer during the longest days of the year, nearly doubled its 2013 peak solar power output at the solstice weekend.

France, Italy, Denmark and other countries are also believed to have generated record amounts in June.

According to UK trade body the Solar Trade association (STA), the total UK installed solar capacity generated from homes, buildings and solar farms is now about 4.7 gigawatts compared to 2.7GW in July last year.”  See: UK and Germany break solar power records