Lakshman Achuthan: The US Entered Recession Last Year And "Is Worse Than Japan In the 90s"

At 1:05, Achuthan stuns the Bloomberg anchors - "We believe that a recession began last year. Time will tell if that call is correct."

More serious:

Five years ago, the summer before the Lehman collapse, ECRI’s research found that U.S. economic growth had been stair-stepping down in successive economic expansions, going back to the 1970s. So, even before the Global Financial Crisis (GFC) and deleveraging concerns came to the fore, we predicted a feeble economic expansion to follow the then-ongoing recession.

 We extended our research to other major developed economies, most of which exhibited similar patterns of slowing trend growth. Driven by deep structural changes, these patterns were likely to result in low trend growth for many years to come – with or without the deleveraging that followed the GFC.

Zero Hedge
Lakshman Achuthan: The US Entered Recession Last Year And "Is Worse Than Japan In the 90s"
Bloomberg TV's Tom Keene interviews ECRI's Lakshman Achuthan