- Biggest Inventory Build In History Prevents Total Collapse Of The US Economy!
by Tyler Durden, www.zerohedge.com
While we already observed that in Q1, US GDP rose by an appalling 0.2%, far, far below the consensus Wall Street estimate (in case you missed it, here again is the one thing every Wall Street economist desperately needs) and precisely in line with the Atlanta Fed forecast which we brought attention to in early March, confirming yet again that US stocks no longer reflect any fundamentals but merely Fed and global liquidity injections, there is something far more disturbing under the surface of today’s GDP report.
Specifically, the $121.9 billion increase in private, mostly nonfarm, inventories in the first quarter. Cutting to the punchline, this was the biggest inventory build in history.