Investment

» Jas_Jain - Rogue Economist, Lakshman Achuthan, Throws In the Towel and Says

In response to Rogue Economist, Lakshman Achuthan, Throws In the Towel and Says posted by permabear:

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They both should have blamed the Fed 5 years ago, no?

Brinker has been bullish as hell all thru 2007. I haven't read his forecast for the past 2-3 months. What is his latest forecast for the stock market?

Jas

-- posted by Jas_Jain

» allancoleman - Rogue Economist, Lakshman Achuthan, Throws In the Towel and Says

In response to Rogue Economist, Lakshman Achuthan, Throws In the Towel and Says posted by Jas_Jain:

From Bob Brinker's March 4, 2008 newsletter :

" ... we rate the market attractive for purchase on any weakness that occurs in the area of the S & P 500 Index low 1300's , or any minor weakness that occurs below that level . "

" ... potential to trade into the 1600's range as we move closer to the time when investors will discount the 2009 earnings recovery . "

" ... potential for a record earnings year in 2009 accompanied by new record highs for the S & P 500 Index . "

-- posted by allancoleman

» Jas_Jain - ECRI’s Rogue Economist Achuthan Now Forecasts a Mild Recession

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ECRI's Rogue Economist Achuthan Now Forecasts a Mild Recession

After failing to forecast the recession. (He only made a confirmation last week that we ARE IN A RECESSION).

The sad part is blind faithful of Lakshman Achuthan don't know the real record of ECRI and Achuthan, in particular. Did anyone know that the forecast date for the 2001 recession to start was "end of 2001" after predicting in late March 2001 that "recession was unavoidable?" (The March 2001 "call" was a forecast for the recession to begin some time later, hopefully, 6-8 months later in keeping with the claim of forecasting ahead of time).

June 2001 Edition of Pools & Spas:

"ECRI's Anirvan Banerji disagrees [with Conference Board's Ken Goldstein], noting in a recent Business Week article that almost all of his institute's leading indicators point to a national recession by the end of 2001. The key figure is unemployment, which has begun to creep up after
more than half a year at 4 percent. As unemployment rises and consumer confidence further erodes, a recession will occur, Banerji says. "A recession this year no longer appears to be avoidable," he says."

Please not the language. In march 2001 ECRI never said that the economy is in a recession; only that "a recession will occur." As we know "by the end of 2001" the recession was over. I believe that in 2002 ECRI and Banerji were still struggling with when in 2002 the recovery would begin. Most people don't have time to verify claims made by economists about their real past record in forecasting recessions.

Jas
-x-x-x-x-x-x-x-x-x-x-x-x-

Bloomberg TV

25-March-2008

(Bloomberg TV) - This morning, ECRI managing director, Lakshman Achuthan, spoke with Bloomberg TV's Carol Massar in New York about ECRI's U.S. recession call, how it could have been avoided, and why the decline in GDP may be limited.

http://www.bloomberg.com/avp/avp.htm?cli...

-- posted by Jas_Jain

» tjg911 - Rogue Economist, Lakshman Achuthan, Throws In the Towel and Says

In response to Rogue Economist, Lakshman Achuthan, Throws In the Towel and Says posted by allancoleman:
no offense meant to you allan but bob sure uses a lot of potentials!
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here's a potential for everyone - potential chance for sun or rain tomorrow! potential for hot or cold tomorrow!
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LOL , potential my butt! typical brinker, the wordsmith of hedging!
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tom

-- posted by tjg911

» Jas_Jain - Cult Follower Promoting Guru Lakshman Achuthan

Cult Follower Promoting Guru Lakshman Achuthan

I saw cult follower of Guru Lakshman Achuthan, Kirk Lindstrom, whom I know personally, post in a Longwaves forum for the first time trying to promote Guru's propaganda:

http://www.safehaven.com/forums-25470.htm

Amazing. Wrong crowd, Kirk. These people know the BSers like Achuthan well.

Desperate times for the bulls that want to hang on to any hope. This guy has been buying into such obvious propaganda and ECRI's false claims of their actual record in forecasting recessions. In 2001, ECRI said in late March that "recession is unavoidable" but their date for the recession to actually begin was "end of 2001," the time when the recessions was already over.

Jas

-- posted by Jas_Jain

» permabear - Cult Follower Promoting Guru Lakshman Achuthan

In response to Cult Follower Promoting Guru Lakshman Achuthan posted by Jas_Jain:

As the data comes in Jas, Norm and my predictions are coming to fruition one by one over time. There remains a whole lot of denial about the severity of these housing and credit problems. The credibility lies with the bears right now. The permabulls can try to find reasons to remain bullish but events on the ground make the case more and more difficult by the day. Don't say we didn't warn you.

-- posted by permabear

» sam1000 - Cult Follower Promoting Guru Lakshman Achuthan

In response to Cult Follower Promoting Guru Lakshman Achuthan posted by Jas_Jain:

At last they have admitted U.S. is in recession. But is expected to last less than 2 quarters!

I was under the impression that their model can only predict turning points and not how long the recession will be. Am I wrong?

-- posted by sam1000

» Jas_Jain - Re: Cult Follower Promoting Guru Lakshman Achuthan

In response to Cult Follower Promoting Guru Lakshman Achuthan posted by sam1000:

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"At last they have admitted U.S. is in recession."

Wrong, Sam. The latest is (emphasis added):

"NEW YORK, March 28 (Reuters) - A gauge of future U.S. economic growth ticked up in the latest week as did its annualized growth rate, but both still show **** the U.S. economy headed for recession *****, a research group said on Friday."

This guy is a slime ball. He has used more than 50 terms to characterize the economy.

You are right about your observation. The guy is totally untrustworthy. Kirk is a cult follower of Guru Lakshman and he will never admit to obvious contradictions in Achuthan's statements.

Jas

-- posted by Jas_Jain

» Jas_Jain - A Must Watch Video to Understand Rogue Economists -- Achuthan on

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A Must Watch Video to Understand Rogue Economists -- Achuthan on Bloomberg . . .

From: XXX
To: jas_jain@hotmail.com
Subject: Achuthan on Bloomberg . . .
Date: Mon, 14 Apr 2008 08:08:18 -0700

>Jas, in case you have not seen the interview, scroll down the Bloomberg video list at the link below for the interview with Achuthan. Be prepared to lose your breakfast: nauseating.

http://www.bloomberg.com/avp/avp.htm?cli...

Good thing is that I don't eat breakfast!

This guy is personification of rogue economists. I know people who have been cult followers of this guy for the past 5-6 years (hence, my use of Guru Lakshman Achuthan). He has been lying about the true forecasting record of ECRI, but most people are too lazy to find that out. But this time he has outdone himself.

Economists as a group, including in academia, are a very important part of the Great American Propaganda Machine that has helped in breeding economic dopes. More consumption is a solution to America's problems, short or long term? Excessive consumption is what has gotten American economy in a deep dodo from which it will not recover for a very long time.

Jas

-- posted by Jas_Jain

» Jas_Jain - FWC: Choosing Recession

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Choosing Recession
Lakshman Achuthan and Anirvan Banerji 04.21.08, 6:00 AM ET

http://www.forbes.com/opinions/2008/04/1...

Fed and politicians chose the recession? What a bunch of rogues. Only in a country ruled by Crooks that these intellectual whores could make a decent living.

Below are comments from an economist e-friend:

ECRI's Achuthan and Banerji making their case again: "Recession Accomplished". :-D

Before this most recent episode, economists across the ideological spectrum had convinced themselves that recessions are preventable; we only "allow" recessions when we "want" or "need" one. :-D

So, now that we have a recession, who could have possibly "wanted" one or dared to presume that we "needed" a recession?!?! And, especially, who would have "wanted" a recession and not told ECRI so they could have "forecasted" it? How dare they!!! :-D

Yes, these are grown men engaging in this self-delusional mythomagical thinking. Perhaps it was the Easter Bunny who "wanted" the recession . . .? :-D

-- posted by Jas_Jain