Editor's Note: Below is a brief excerpt and chart from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to subscribe.
"... But can they find a way to call today’s Chart of The Day (US Industrial Production) slowing indefeasibly into a recession “transitory”? Or shall we agree to agree that this rate of change dropping to its lowest level (-1.2% year-over-year) since 2009 is called cyclical?
If we’re going to call everything cyclical “transitory”, then we’ll probably get to what most economic ideologues actually believe – that they can bend gravity – and that there is no economic cycle to concern yourself with anymore because they can smooth that too."