16% Annualized Crushing…Does it matter?

On Friday, German reported some very nasty economic news—their economy fell at a 16% annualized rate during the first quarter of 2009. An excellent summary of the key problems now facing Germany and the Eurozone is provided by Anatole Kaletsky, an economic commentator for the UK Times and resident guru for GaveKal. We have provided the key points below for your perusal[our emphasis]: