Feldstein scares the hell out of me...

... sort of. Some may recall that I cited NBER outgoing President Martin Feldstein in my January report. In January, Feldstein said he was not ready to declare recession in the US and that he wasn't so sure we were heading for one. Now he has this to say, and given that he's changed his tone so much, the content is even scarier. Also, given that I lack modeling capabilities, I am forced to forecast using other forecasts done by firms which I believe base their models on the correct set of underlying variables and dynamics. These forecasts I rely on have not been amended, so neither has mine.