I hate it when two people I know and like do battle. This week, it is Mike Shedlock of MISH’s global economic analysis squaring up against my friend and work neighbor, Lakshman Achuthan of the Economic Cycle Research Institute (ECRI).

Mish ripped ECRI in an unsparing critique this morning: ECRI Weekly Leading Indicators at Negative 9.8; Has the ECRI Blown Yet Another Recession Call?.

I tagged Laksman about it — he is traveling out West on personal business. But he suggested that a fair and balanced approach would point out the CNBC clip on ECRI’s homepage (left column) as it “refutes Mish’s suggestion that we’re blind.”

Here is Lakshman:

“Despite Mish’s narrative, the main issue for investors is when the slowdown in growth was likely to start. Back in Feb 2010 we showed our Long Leading Index (not the Weekly Leading Index) and warned that the slowdown would begin by midyear. BTW, CNBC wouldn’t run our chart of the Long Leading Index vs. S&P but Carl went against the script and held up a printout for the camera.”

When he returns from his trip next week to NY, I will see if I can impose on Lakshman to write up something new for our consideration.

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