http://www.zerohedge.com/article/ecri-index-continues-plunge-drops-22-57-and-just-43-away-guaranteed-double-dip-territory
David Rosenberg:
Suffice it to say, when the ECRI was drifting lower in 2007, it got to -3.5%, where are we are now, in November and unbeknownst to the consensus at the time that a recession was only one month away. Remember that the economics community did not call for recession until after Lehman collapsed — nine months after it started; and go back to 2001, and the consensus did not call for recession until after 9/11 and again the economy had been in recession for a good six months).
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