Import Prices & GREECE (because you just haven’t heard enough about Greece lately)
MBA Mortgage Applications
Import Price Index MoM
Import Price Index YoY
Current Account Balance
Greece. Yes, Greece. Gonna flog that whipping boy again. Keep in mind that the defaults that occurred in South America in the ‘80s were littered with numerous countries that defaulted multiple times. The European Commission, the European Central Bank and the International Monetary Fund estimate that Greece’s debt level could fall to around 117% of gross domestic product by 2020
Wait. What? Yep, you read correctly, by 2020. 2020, not 2012, not 2013, 2020. Talk about voodoo economics.
In order to get there, this troika of economic soothsayers says the country will have to cut spending by another 5.5% of gross domestic product in the coming two years to meet all of their fiscal targets.
Never mind that their economy is in a shambles. Over look that they are going to get more loans (DEBT). Greece is going to cut their budget, begin collecting all their taxes, lower unemployment (18%), create new jobs, and turn their economy on a dime!
I have more faith in the Mayan calendar.
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury