Merrill Lynch is pissing on the Bush parade with the estimate that U.S. economy has a 55% chance of recession in 2007. Main Merry-ill topics are:
- 55% chance of recession
- House builders already reduced prices by 33%, despite lower official readings
- Growth estimate at 1.7% in 2007
- Yen-dollar carry trade starts unwinding
- Dollar should decline and decline even more
- Europe and Japan show US a middle finger
Should I add here my own very scientific estimate that Bush will puke?