Source: Bianco Research
ECRI chief Lakshman Achuthan is on CNBC. Last year he called for an imminent recession. Since then the economy seems to have improved quite a bit. He’s still not backing down. Here are some key points he’s making:
* Mostly the financial markets are responding to Fed juicing.
* He admits the jobs picture has done a bit better.
* But jobs will get bad again, as the consumer flags.
* He says he always predicted the recession would come in the first half of 2012, so he still has time.
* The “full array” of leading indicators is not negating his recession forecast.
* GDP, industrial production, sales growth, etc… he says they’re all getting worse.