Two years and now it is getting serious

Alhambra Investments/Jeffrey Snider

graphic image of canary on swing“We knew German Industrial Production for December 2019 was going to be ugly given what deStatis had reported for factory orders yesterday. In all likelihood, Germany’s industrial economy ended last year sinking and maybe too quickly. What was actually reported, however, exceeded every pessimistic guess and expectation – by a lot.”

USAGOLD note:  We alluded to the real signs of a budding recession in Europe on this page yesterday. Snider, the respected Alhambra analyst, says that there are two canaries in the global economy’s coal mine – one named Germany, the other Japan.  “It’s Germany and Japan first,” he says, “before others and then all the rest.”

Repost from 2-9-2020

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