Welcome to Market Foolery. I'm Joe Maker from Motley Fool Inside Value.

Chris Hill is out this week and I've got the keys to the car. Joining me from Motley

Full Asset Management's day is Tim Hanson and for a million dollar portfolio. Charlie Travers

Gentlemen, welcome! I am ready for a bumpy rod Joe. Let's do this. I'm glad you've got low expectations.

We got a lot to cover today including results from Home Depot, Michael Coors, and another stink bomb from Groupon, but let's

start with Germany. Tim, Germany's Federal Statistical bureau reported second quarter GDP

group 0.3% not amazing but higher than forecasts. We keep hearing things are

terrible in Europe but this is somewhat better than we've heard.

Is this something we should be excited about?

I'm not sure what exactly this data is telling us.

3% isn't a lot of percent as you said is better than expectations

but since these things tend to have a little bit of a margin of error

associated with them this is so close to zero that it's hard to know you know

exactly what's going on in Germany at present.

I mean what we do know is that Germany is an export-driven economy and that the bulk of its

exports are going out to the rest of Continental Europe and that most businesses in continental Europe are reporting really, really sharp declines.

You know, LeGond, for example, is a French sort of building electronics company.

They do lighting and exit switches and that sort of thing.

And their sales were down double digits in Italy. They were down sharply in France.

And so I think those are leading indicators and at the end of the day

it's going to come back to Germany and I think things are getting worse not better

even though people are somewhat optimistic about this number but you know people

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