Permabears Profiled in the New York Times

I’m not sure that Hussman wants to be lumped into “perma-anything” but he certainly has remained bearish longer than most…I guess the “perma” thing may be starting to fit.

As for Gary Shilling, I saw him speak at a Bloomberg event this winter, he seems perfectly well-reasoned and calm as he lays out his bear case – he is anything but frothing-at-the-mouth or wild-eyed as many relentlessly negative strategists are stereotyped.

Here they are along with others talking about what could (and likely will) go wrong…

From the New York Times:

Call them permabears. A solid six months of good and getting-better data — fewer Americans claiming unemployment benefits, rising industrial production and improving economic sentiment among them — have failed to convince them of the strength of the recovery.

Some offer outright dire predictions. There is the Economic Cycle Research Institute, a New York-based forecasting firm, which foresees a new recession. There is A. Gary Shilling & Company, a consulting firm in Springfield, N.J., which argues that the economy will weaken through the rest of the year.

There is also the asset manager John P. Hussman. Last month, he wrote in a research note that “while investors and the economic consensus has largely abandoned any concern about a fresh economic downturn, we remain uncomfortable,” given the deterioration of certain leading measures, like consumption growth.

A perfectly-timed piece given the jobs debacle from yesterday.

Source:

Some Dreary Forecasts from Recovery Skeptics (NYT)