The Six Lessons from Last Week’s Action

This week we look at a short but excellent summary of the state of the current economic crisis. I always enjoy reading David Rosenberg, the North American economist of Merrill Lynch. He has a no-nonsense style that is refreshing from most mainstream economists. The reality is that things continue to deteriorate. Today's stock market action shows that we are not of the bear market woods just yet. Rosenberg gives us a few reasons why.

John Mauldin, Editor
Outside the Box

subscribers@mauldineconomics.com

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The Six Lessons from Last Week's Action

By David Rosenberg, North American Economist, Merrill Lynch

1) Expect the worst recession in the post-WWII era

First, this is going to be the worst recession in the post-World War II era, in our view. The ECRI leading indicator hit a record low for the fifth week in a row - down to - 29.2 as of the November 21st week versus -28.2 the week before. This…