ECRI’s Lakshman Achuthan joined Bloomberg Surveillance this morning to point out that U.S. economic growth has actually slowed in recent months, contrary to the consensus view. “No one can get away from these facts, no matter what you do” he said. Listen to the audio clip here.
He also appeared on CNBC this morning. Here is the direct clip.
;
I respect the ECRI. They have an amazing ability to see the incoming missiles. I know for a fact that Investors Business Daily keeps a keen eye out on ECRI hard data. It would pay to heed the ECRI charts.
It seems like Bernanke’s HARD TARGET ie the retirement generation and pension funds are going to take the brunt of the hit. This includes the nearing retirement generation 10-15 years away. How on earth are they going to save in a near zero environment? It goes against classic compounding. It is clearly a Fed offensive weapon and it is best you play attention.
And add to this savings problem the burdens of increasing expenses. Real estate taxes, utilities, GASOLINE, food, college repay/payment. And you are expected to slam it away? Good grief! You better be prepared when the road turns and not go off the cliff. Mind you, your competitors know damn well the ship is sinking and they are going to dump equities when the time is appropriate to harvest the grain.
Become seasonal when appropriate and for the boomers, and pre-boomers AUTUMN IS FAST APPROACHING. There is no do-over when you are approaching the end of the fourth quarter and your points fall off the scoreboard. Be forewarned!
Great timing re the ECRI report. Just yesterday I was invited to a very upbeat breakfast meeting (re the market) with one of our major banks. I recently pulled my entire portfolio out of equities and put it into a safe haven. After the meeting I talked to a few of the other parties (in the parking lot) and found that they had done the same. I have to assume the institutions are concerned as to what is going on as I have never had the bank buy me breakfast before. Tks again Danielle keep up the good work.
And do they ever buy you breakfast or better yet, the ‘free dinner seminar’ when the market is in the soup? Actually Merrill Lynch local chapter, single broker, father of three daughters (in college) did invite yours truly in late November 2011 to a catered dinner–great food. The market was ‘in the soup’ at the time and everyone was feeling down in the dumps about it, since most attendees were lets say ‘older’ types ie grey-haireds. I was the obnoxious guest saying I’m in cash, watch out. They all thought I was nuts.
Maybe I am. But who was to know the ECB would begin their own QE program in December? And right on schedule the US markets began their historic rally on December 20, 2011 that is still in effect as of February 28, 2012. Would YOU buy AAPL here? Hmmmm?
So I missed a historic gain. Pfft! At least I didn’t lose a ton. I play small ball when I know the game is rigged. Does that make me nuts? You don’t need to answer on that one but one could be kind to let me know.