Eichengren: Odds are 3 to 1 for a new recession
Very dismal forecast from Berkeley's Barry Eichengren at Euro Intelligence.com:
While I am mindful of the eminent forecaster Edgar Fiedler’s admonition that he who lives by the crystal ball soon learns to eat ground glass, I would now put the odds of a double dip at 3 to 1. The recent data flow, from home sales and new unemployment claims to exports and manufacturing activity, leave no doubt that U.S. growth will be less than 1 per cent in the second half of the year. That could be stall speed.
Read the whole thing here.
