Pirate Equity’s Recipe for Ugly
Courtesy of Joshua M. Brown, The Reformed Broker
I don’t do a lot of cooking-related posts here, but this particular recipe caught my eye. Follow the instructions perfectly – we wouldn’t want anything to accidentally go right or anything:
From Pirate Equity:
Ingredients:
- .4% increase in retail sales in July
- Rising 4 week average of Initial jobless claims
- .3% rise in value of business inventories in June
- Rising savings rate
- 9% rise in foreclosures in July
- 19% rise in trade deficit on declining exports
- Anemic GDP growth
- Rising fiscal deficit
- Modest income growth
- Tight credit
- Likelihood of higher taxes next year
Separate autos and gasoline from numbers to extract negative retail sales. Mix together with increase in savings rate, rising 4 week average of initial jobless claims, .3% rise in value of business stockpiles in June, rising savings rate and a 9% increase in foreclosures in July. Gently pour mixture into a large bowl with a 19% rise in the trade deficit, anemic GDP growth, a rising fiscal deficit, modest income growth, tight credit conditions and the high likelihood of higher taxes in the future.
Use egg beater to mix the above to creamy texture. Pour over a bed of Chinese rice and serve cold.
Yield: 1 healthy serving of an ugly economic outlook for the US.
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