Dunkelberg had something. He saw the 1979 recession coming in the results of the small-business survey, although the federation told him to soften his news release. Today, Dunkelberg releases survey results the second Tuesday of each month on cable-TV channel CNBC.
As Dunkelberg spoke for this interview, a Reuters financial reporter called twice on his cell phone - which rings to the tune of Buffett's "Margaritaville" - for the most recent survey results.
Dunkelberg said he believed banks could lend. He was not concerned about a credit freeze. In fact, he was concerned about the potential for easy money flowing into the economy when consumer confidence returned because the Federal Reserve flooded the financial system with cash in 2008 and early 2009.