Having described the US as "worse than Japan in the 90s" during his last appearance,
ECRI's Lakshman Achuthan remains adamant that (despite Bloomberg TV
anchors' insistence that stocks are at all-time highs must mean
something) the US has been in recession since last year and remains so.
His comments that "you wouldn't have four years of zero-interest rate policy and quantitative easing if everything was okay," are as cogent now as then as he critically explains, as we have noted here and here, that the attention being paid to 'soft data' surveys (such as ISM) is entirely mistaken since ISM/PMIs are now negatively correlated to actual production.
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About Me
- Judy Chaffee
- This site is the inspiration of a former reporter/photographer for one of New England's largest daily newspapers and for various magazines. The intent is to direct readers to interesting political articles, and we urge you to visit the source sites. Any comments may be noted on site or directed to KarisChaf at gmail.
Wednesday, November 6, 2013
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