ECRI’s Achutan Says US Is “Entering A New Recession”

Friday, September 30, 2011
By Paul Martin

by Tyler Durden
ZeroHedge.com
09/30/2011

Last year the ECRI index was the bete noir leading indicator of the market: while the index clearly indicated the US had entered a recession, its creator Lakshman Achutan consistently refuted the findings of the index, instead pushing a contrary view that the US was in fact growing. Then came QE2 and with it s 9 month suspension of reality. That time is over, as is Achutan’s ongoing attempt to deny facts. As of a minutes ago, the ECRI’s head told Bloomberg Radio that the U.S. is “tipping into a new recession.” “He added: “We don’t make these calls lightly. When we make them, it’s because there’s an overwhelming objective message coming out of our forward-looking indicators. What is going on with the leading indicators is wildfire; it’s not reversible.” As Zero Hedge first said months ago, when it finally extracts its head from between its gluteui maximus, we expet the NBER to proclaim the re-recession as having started in June/July.

We will get the Bloomberg Radio interview as soon as possible.

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