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Europe Walks ‘Along The Rim’ Of Stagflation
Top-tier macro updates out of Europe reflected varying degrees of economic resilience, even as stagflation vibes were unmistakable.
Overall, the European economy eked out the smallest of expansions in Q1, growing 0.1%, according to figures released on Friday.
It was an underwhelming performance to be sure, but we should be cognizant of the circumstances. Europe was widely expected to suffer a debilitating recession over the winter months amid what many worried would be an existential energy cr
As always, sir, you are the king of context, for which we all thank you. Among other things I do to add some meaning to my being, is act as an editorial reviewer of articles and case studies submitted to journals to be considered for publication. Over my career I have read over 500 of these things, 50 last year alone (I also have lots of available time others don’t). The biggest weakness of these case studies is that the majority lack any consideration of context. Decisions and understanding must be considered in context, something today’s analysts. What context is included in many of these studies goes all the way back to 2021! Sportscasters, for example, constantly find themselves trapped by monster cases of recency bias. Too many have never heard of Ted Williams, Bill Russell (the real GOAT), Warren Spahn, George Blanda (won a scoring title in his 50s, 26 year career). As you have said, in today’s media, the laughable spouters see context as last night. From a policy standpoint this lack of context is a very scary feature of today’s lousy decision making.
“I realize all of this is terribly dry, and somewhat painful to read, but it’s crucial to stay apprised.”
I don’t know how big the minority I represent is, but I delight in the “dry” articles, and dislike when you try to cast aspersions upon them. We dry article fanciers celebrate every CTA model update, gamma-flip point, and flow breakdown analysis we can get.