ECRI Chief: We Can Categorically Say There Is NO Double Dip

The Business Insider ^ | 10-29-2010 | Joe Weisenthal

[blam]

ECRI Chief: We Can Categorically Say There Is NO Double Dip

Joe Weisenthal
Oct. 29, 2010, 6:28 AM

Lakshman Achuthan, the head of the ECRI, which publishes a highly watched leading-indicators report, categorically denies that there will be a double dip.

Given the focus on the ECRI leading indicators this summer -- an index that prompted David Rosenberg and others to see a double dip -- this is pretty remarkable stuff.

He says the Fed is behind the curve, and not seeing the comeback in the economy that ECRI is already seeing in October.

[snip]

[blam]

Here's Why It Was Ridiculous When David Rosenberg Used The ECRI To Predict A Double Dip

[The Magical Mischief Tour]

Famous last words?

[MrEdd]

Bagdad Bob and the successful summer of recovery.

[tobyhill]

That’s true because we never ended the first one.

[AlexW]

There is no double dip, because we NEVER came out of the FIRST dip.

[DeaconRed]

"There is no double dip, because we NEVER came out of the FIRST dip."

100% CORRECT

[aruanan]

That’s the first thing I thought.

[LibLieSlayer]

There was never any recovery so this jerk is correct... but he is still lying. DEPRESSION... the first SOUP KITCHEN just opened in South Mississippi... advertised on WLOX TV... welcome to obamamania.

LLS

[pnh102]

Of course there is no double dip. The last recession/depression never ended. You cannot have a double dip recession unless the first recession ends.

[Thermalseeker]

What we are experiencing now is nothing compared to what is coming in a year or two. The real party has yet to begin.....