Fed will take heat for conducting a weak $, beggar thy neighbor, inflate your way out of debt policy, as it will be seen US exports are robbing demand from eurozone, while price pressures rise, spreading stagflation around the world.
| Highlights: |
| ♦ Europe’s Economic Expansion Exceeds Earlier Estimate |
| ♦ German Output, Exports, Retail Sales Unexpectedly Fall on Oil |
| ♦ German Nov industrial output down 0.9 pct from Oct, cons up 0.4 pct |
| ♦ Germany May Cut Forecast for 2008 GDP Growth, Steinbrueck Says |
| ♦ European Trade Union Says Wage Growth Is No Threat to Inflation |
| ♦ French November Trade Deficit Widens to EU4.8 Billion |
| ♦ December inflation surprising, rates may grow further |
[source: Bloomberg]
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