In a Bloomberg video interview, ECRI co-founder Lakshman Achuthan says "Very Serious" Global Synchronized Growth Downturn Seen.
Achuthan also says the economy is "not vulnerable to a recessionary shock at the moment. That can change, but right now, no recession risk."
Achuthan added the global industrial cycle is slowing down.
Flash of Red
"We don't necessarily have to go into recession as a result of that flash of red."
He concluded "Not at that window of vulnerability, yet", strongly emphasizing "yet", while adding "I am not playing this down at all. I think we have a very serious global synchronized downturn."
How "very serious"? Not "very serious" enough to cause a recession "yet".
So, no matter what happens, Achuthan is well position to brag about the outcome.
In a few months we will see one of these:
- See, I said it was very serious. We went into recession. You heard it here first.
- See, I said no recession despite the trade wars.
That was a perfect noncommittal interview. I have never seen better. He will have future sound bites to support any possibility.
Bloomberg's New Video Tactic
Bloomberg has a new video ad tactic.Bloomberg turned on video autoplay but turned off the sound.
If you want to shut down the video, you have to turn on the sound first.
Mike "Mish" Shedlock