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Editor's Note: Below is a brief chart and excerpt from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more. 

 

"... Don’t just blame China. That’s lame. Not only was the ISM report in the US as bad as the made-up Chinese PMI report for December, it was the 1st back to back sub 50 reading (< 50 signals economic contraction) going all the way back to when the US was last in a recession."

CHART OF THE DAY: Recession Inching Closer? - 01.05.16 EL Chart