Meredith Whitney Hasn’t Been as Bearish in a Year

By on November 19, 2009

CNBC’s Maria Bartiromo interviewed Meredith Whitney on Monday in which she made some bearish observations. She said there has never been this level of consumer credit contraction ever; including the Great Depression. She added that $1.5 trillion has been pulled from consumer credit lines and it is accelerating. Whitney also made comments on Ben Bernanke’s speech regarding commercial real estate, but she considered the residential market a bigger threat to the economy than the commercial side. She said the market’s rally didn’t make sense right now and covers many more topics in the 10 minute interview including her opinion that we’ll see a double-dip recession.

SMA Comment: Whitney has made several very accurate predictions over the past 3-4 years. She is one of about a dozen mainstream commentators worth listening to.

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