Rosenberg Research & Associates
- Top economist David Rosenberg dashed hopes the US economy can escape recession.
- Wall Street's suggestion of a "no landing" scenario is its greatest lie in 15 years, he said.
- Rosenberg predicted a painful downturn will take hold in the second quarter of this year.
The US economy is barreling toward recession, and claims that it can escape a downturn are deeply misleading, David Rosenberg warned in a flurry of tweets on Wednesday and Thursday.
"The 'no landing' narrative is the biggest hoax Wall Street economists have peddled since 'global decoupling' in 2008," the Rosenberg Research chief said. "Follow the leading indicators, not the Pied Pipers."