Goldman Sachs (GS) lowered its Q2 real GDP annualized growth twice this morning. Initially to 1.4% from 1.5%, then to 1.3%. We do not necessarily see how such intra-day 'dynamic' adjustment helps others make their investment decisions. We, along with some others, were saying that the economy would not be nearly as 'robust' as the big firms made everyone believe during the first three months of 2012. We are seeing some reaction from the big firms' (such as GS) muppets.
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