even the data out of europe has been bad in regard to retail sales, unemployment for sure but I think they are banking on the LTRO kicking the can down more. What really scared me today was they didnt take into account the retail sales out of China. With chinese new year, it should have easily beaten the expectation. However what I am hearing is people are cutting back, doing more window shopping then actual shopping. Their property price are going down so how is that possible for good economy when everyone is spending less.
