Fwd: Guru Lakshman Achuthan IS In the Hot Seat Again

Mr Jain is jealous of the respect some of us "dopes" have for Lakshman and ECRI.  Make sure you read

ECRI WLI Update - Weekly Leading Index Data
 
ECRI Weekly Leading Indicators Widely Misunderstood

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Subject:	Guru Lakshman Achuthan IS In the Hot Seat Again
Date:	Tue, 24 Aug 2010 06:50:44 -0700
From:	Jas Jain

Guru Lakshman Achuthan IS In the Hot Seat Again

David Rosenberg; 08/23/10:

"U.S. ECONOMY IS CONTRACTING

"The ECRI leading index (smoothed) came in at -10 for the August 13th week from -10.2 the week before. This is the fifth week in a row that it has been -10 or worse and so I would assume that this meets the "persistence and intensity" requirement for a recession."

 

I had identified Guru Lakshman Achuthan of ECRI as rogue economist years ago based on his overtly bullish bias in the interpretation of the leading index of the US economy that ECRI publishes weekly, the WLI. The reason I had given him the title of a guru is because he had cult followers among the most clueless of the born-and-bred American dopes in Silly.con Valley, where the prosperity is derived primarily from fraud and economic immorality is rampant. It is natural that residents of Silly.con Valley would follow a guru that does all he can to pump up Scams via purposely-bullish prognostication of the economy. It was easy to see that the guy is in the propaganda business, as are the vast majority of the economists that have access to the public, especially on the financial media. Like all propagandists in America, economists play an important role in breeding Americans into dopes and keeping them doped-for-life. Breeding dopes has been the most profitable endeavor in America! This is to be expected in the Age of Propaganda.

 

The guy has an abysmal record in forecasting recessions before they happen. The last time around he admitted to the recession 3-4 months after the economy was already found to have been in recession. As late as three moths after the recession had already begun the guru was claiming that it could be averted by policy actions.

THE LONG-TERM LEADING INDICATORS OF THE US ECONOMY

One must focus on the behavior, including the morality, of the participants to see where a society is headed. The most important groups to focus on in order to see where the US economy is headed are born-and-bred American dopes, the Crooks and the rogue economists. The rest are mere details that fill the time to entertain the dopes. All three point to the collapse of the American economy that would take the political system with it.

Jas

Mr Jain is jealous of the respect some of us "dopes" have for Lakshman and ECRI.  Make sure you read

ECRI WLI Update - Weekly Leading Index Data
   and
ECRI Weekly Leading Indicators Widely Misunderstood