S&P 500 Vs. NIPA: The Great Profit Debate
By now, many readers will be aware that SocGen does not harbor a particularly rosy outlook on the global economy for 2020.
Indeed, by the bank's own admission, their growth outlook is "resolutely pessimistic".
That's in no small part attributable to a below-consensus projection for US growth. "The flavour of our analysis is best captured in our forecasts of the developed economies [and] most importantly, our US forecast", the bank wrote, in their year-ahead outlook piece published late last mo