I posted earlier on the comments from the rule's founder that "not concerned that, at this moment, we are in a recession":
Not everyone agrees, this from noted economist Rosenberg back on Friday:
Rosenberg added further:
- Pundits claim that there is nothing to worry about because the unemployment at 4.3% is “still low”. Who cares? Recessions are determined by change at the margin, not levels. As in, this is the very same unemployment rate we had on our hands in March 2001, the first month of the Tech Wreck recession. Who knew? Well, anyone who focused on the fact that by then, it has risen 50 basis points from the trough. This time around, up 90 basis points. Please don’t argue with the historical record.
