I have tracked the ECRI's extremely debated recession call every step of the way since they made the initial call in September of 2011. After announcing that we would enter recession by the middle of this year and then reaffirming it at every opportunity over the last 10 months (as the stock market surged higher) we are now sitting mid year and economic data has collapsed around the world.
Achuthan's view today: we are in a recession right now. Here is the history of the calls and his most recent video on Bloomberg. The interview on February 24 is interesting because it was close to the peak in the stock market euphoria (Apple rising higher every hour). The media looks for reasons to "justify" stocks moving higher and they immediately dismiss anyone who says there is trouble coming.
ECRI Leading Economic Indicators - September 30, 2011
ECRI's Achuthan: The Coming Recession - December 9, 2011
ECRI's Achuthan Stays With Recession Call - February 24, 2012
Achuthan: US Will Be In Recession Next Month - May 9, 2012
After months of ridicule Achuthan steps back on stage at Bloomberg with no one laughing: