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"It's Different This Time" GDP Hockey-Sticks Edition

Year after year, hope-strewn economists mark up GDP expectations for the year-ahead (in order to defend top-down their S&P 500 earnings forecasts and why investors should always BTFD)... and year after year, those GDP expectations are slashed drastically. Welcome to 2015...

 

Consensus GDP forecasts have had one path year after year - top left to bottom right...

 

It's different this time

 

h/t @M_McDonough