Print this page
Global Economics Sign Up for free Newsletter

Statistics actually show that the US is already in recession

Posted on 29 November 2012 with 3 comments from readers

In today’s ‘Single Best Chart,’ Economic Research Cycle Institute co-founder and COO Lakshman Achuthan displays economic indicators he believes to show that the United States in currently in recession. He speaks on Bloomberg Television’s ‘Bloomberg Surveillance.’

Why worry so much about the ‘fiscal cliff’ if you have already fallen over it?

Posted on 29 November 2012 Categories: Global Economics, US Dollar, US Stocks, Video Channel

3 Comments posted by readers:

Comment by Bernard M.A.Doff - 30 November 2012

Just to inject some hard facts into this:

1. You can use “statistics” to prove anything

2. Search for ECRI on this site, and you will see a bunch of predictions that have been hopelessly wrong.

3. If you keep predicting a point in the economic cycle, you will eventually be right. That’s why it’s called a “cycle”.

Comment by James M - 30 November 2012

Thanks for the clip, very educational indeed.

From the 5 1/2 min clip on Bloomberg’s site:
Lakshman Achuthan: “These are facts Tom, this is hard data…this not something that’s loosey goosey..”

Achuthan: “We are seeing an upturn in home price inflation, but that does not mean an upturn in construction activity…” (bulls eye) in fact we lost construction jobs this year by the way..” (There you have it folks, in a nut shell)

Tom Keene was caught out in the open not knowing the classic definition of a recession. Remarkable. Achuthan nailed Keene thoroughly, Keene quickly changed the subject, dodging the bullet. Fun to watch.

The US recession by the end of December will be official. What then? Fed spigots open?

Its beginning to make sense to me now why big retail unloaded their inventory at loss leader prices last Friday.

What a hole they are digging… when does the fat lady finally sing?

Comment by James M - 30 November 2012

Well, Dan Norcini just answered my question. Wow… QE4

Norcini : ” … here we go, now we’re talking about an additional $85 billion each month.”

Yep, that will kick the recession a quarter mile down the road… sheesh.

I’m going have a serious think about doubling my gold position…damn. This is getting really scary.

Cash is no longer King. Its time to fight the fed.

Add your comment on this article:

Post your comment >

Free e-Newsletter: