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Famed economist David Rosenberg lays out the evidence that recession risks are alive and well a?? and warns a 'state of denial' has gripped the market

Famed economist David Rosenberg lays out the evidence that recession risks are alive and wellВ a?? and warns a 'state of denial' has gripped the market




The details of the most recent report on US retail sales show that consumer spending — the economy's biggest driver — is not as resilient as it seems on the surface, according to David Rosenberg.




In an op-ed for Business Insider, the Gluskin Sheff chief economist laid out the most concerning areas.




Visit Business Insider's homepage for more stories.




That's me in the corner
That's me in the spotlight
Losing my resilience
US retail sales edged up 0.3% in October, which didn't even fully offset the decline in September. Interestingly, if the 3.8% plunge in unit auto sales reported by the dealers had been included in the Commerce Department report instead of the inflated 0.5% estimate, guess what? The headline would have cratered 0.6%. That would have caused some eyebrows to be raised, don't you think? Maybe not.
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