And here's what we wrote nearly a month before that:
Although we're coming off a quarter where the U.S. economy could reasonably be described as being in a "microrecession", as we had long expected, we anticipate that the GDP growth rate will be stronger in the third quarter of 2012 by comparison. Going by the dividend futures data we've had available since November 2011, the third quarter of 2012 has always looked as if it would be the strongest in 2012. Much like how the second quarter of 2008 was the strongest quarter in that year, even though the U.S. economy had already peaked and had begun falling into recession earlier in December 2007.
We'll give the next-to-final word to the Emperor:
But alas, when it came to serious analysis of data in real time, the Emperor was no Moradmin Bast. Geek out on that if you will....
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