Goldman "Still Stuck" Waiting On A Expansion In Latest GLI Note

After a first quarter view reversal by Goldman Sachs GS analyst George Cole, the global investment bank seems to still be waiting for the turn around and expansion they have discussed much hope for over the past two months. Goldman has been struggling to see the underlying economy follow through and support the banks' proprietary Advanced GLI (GLI = Global Leading Indicator) which has signaled a move into the expansion phase for the past four months, a period in which Goldman went from expecting a "mild" to "modest but broad-based" slowdown in activity to being on the "cusp" to being "still stuck" waiting on expansion.  Through all that the Advanced GLI has signaled a move into the expansion phase.  A reason for the slack in performance is most likely attributed to the weak recovery and the unsound fundamentals undermining the legitimacy of this so-called "economic expansion" fueled by cheap money, skewed labor reports, 27M auto's recalled by GM, additions of drugs and sex to foreign GDP metrics, and a swelling in home prices.  

Reviewing the Goldman verbiage on a monthly basis:
Jan: "More signs of a mild slowdown"
Feb: "A modest but broad-based Slowdown"
Mar: "On the cusp of Expansion"
Apr: "Another month on the cusp of Expansion"
May: "Still Stuck"