Josh showed me this last night, and its pretty hilarious.

I’m friendly with Lakshman, who is a terrific guy with a great track record.

ECRI runs an economic quant model that, prior to this cycle, has been dead on in warning of coming economic contractions. I suspect their model has been overrun by the impact of the Fed’s gusher of liquidity.

Still, whoever created this (“Becky Quick” on YouTube) understands economics, ECRI — and humor.

 

 

Category: Weekend

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

8 Responses to “Downfall Parody: ECRI Recession Call”

  1. illoguy says:

    This meme is the gift that keeps on giving.

  2. Moss says:

    Model overrun indeed. Central bank policy is the 800 pound gorilla. The Wealth Effect is the policy goal, whatever else happens is residual.

    http://www.marketwatch.com/story/is-it-time-to-print-money-to-finance-deficits-2013-02-20?link=home_carousel

  3. mrjohnnyt says:

    By double reverse logic, this could be a top tick indicator.

  4. PeterR says:

    Absolutely fucking hysterical!

    Made my day . . .

  5. Frilton Miedman says:

    To Lakshman’s credit, the best description for this recovery has been “unusually uncertain”, even if it was a bad call he still has a damned good track record.

  6. raholco says:

    I love the pineapple up the arse reference (Little Nicky)-too bad they forgot to mention that Hitler was wearing a French maid outfit….

  7. becky quick says:

    Hi all, I’m ‘becky quick’. Thanks for all the great reactions/feedback. I really enjoyed making it and am glad it brightened your day. Cheers.

  8. alalanda says:

    We did have negative GDP last quarter. Do all of you people mocking Lakshman know the definition of a recession?

    ~~~

    BR: Yes.

    NBER:

    The NBER does not define a recession in terms of two consecutive quarters of decline in real GDP. Rather, a recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales. For more information, see the latest announcement from the NBER’s Business Cycle Dating Committee, dated 9/20/10.

    You understand it is not 2 quarters of GDP contraction, right . . . ?