Famed economist who predicted 2008 recession warns Feds of huge 'shock' coming and reveals the stock...

David Rosenberg, founder of Rosenberg Research, made the claim on Friday. It comes a day after a jobs report for the third quarter. In notes to clients, the ex Merrill Lynch expert laid out why itAn economic consultant who accurately called the 2008 recession has again claimed he is skeptical of the US economy and says a course correction is on the way.

David Rosenberg, the founder of Rosenberg Research, made the declaration Friday, hours after April's jobs report fell short of expectations. He worked as Merrill Lynch's chief economic consultant when he accurately forecast the most recent recession Aired in another note to clients penned April 23, that warning claimed the burgeoning bubble created by booming stocks of companies focused on Artificial Intelligence could be about to burst - with the financier pointing to dips seen from AI proponents like Nvidia days before as proof.

As for the inconsistencies between the BLS's datasets, he blamed the method the bureau uses to collect the data - citing how the BLS surveys a sample of businesses to produce its monthly reports. As officials get to the bottom of the differing datasets, he said expect some revisions in the coming months.

So far, his prophecy has gone unfulfilled - not the case 16 years ago when he accurately predicted the 2008 recession due to a the presence of a death cross, when the 50-day moving average of an index drops below the 200-day average, indicating momentum is weakening

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