Thursday, July 28, 2011

[Video] ECRI's Lackshman Achuthan Continues to be Bearish on Economic Conditions as Longer Term Indicators Remain Negative

I'm watching the ECRI interviews very closely since they have had a far better track record than any Wall Street strategist or economist the past half decade.  About 4-5 months ago ECRI said their long term indicators were turning down, and sure enough we've hit (at best) a 'soft patch'.   Apparently there has been no improvement in said indicators (not turning back positive) so the intermediae term still looks soggy.  Very interestingly, when asked about the dichotomy between economic figures and corporate profits, Achuthan believes profits will mean revert to the economy and not vice versa.  If accurate, the market will be in for a bit of a surprise as that is certainly not banked into the cake.

7 minute video - email readers will need to come to site to view.

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