Scaramucci: Even If We Sidestep Recession, It Will Feel Like Recession

Looking at the economy, Anthony Scaramucci of SkyBridge tells us there’s some good news and some bad news.

First the good news. Last time we spoke with Scaramucci he told us that the chance of recession was at 75%. However, his research team just crunched the numbers again and they've revised estimates lower. “Now were at about 68%,” he tells us.

But don’t get all bulled up – here comes the bad news. It may not matter. We could avoid recession all together and still feel the pain.

”Net incomes have fallen by 10% since 2008," he explains. "3 years later Americans have 90% of the purchasing power they had in 2008. Even if we don’t go into a recession, it will still feel like a recession. “

Check out our entire conversation. Watch the video now!

* Anthony Scaramucci runs SkyBridge Capital, a leading alternative asset manager with more than $7 billion under management. Every week on Fast Money, Scaramucci, aka 'The Hedge', takes you behind the hedges, giving you an unprecedented look at the topics generating chatter in the hedge fund community.

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Trader disclosure: On October 12, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Seymour owns BAC; Seymour owns GLD; Seymour owns POT; Seymour owns AKS; Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Terranova is long VRTS; Terranova is long LQD; Terranova is long MUB; Terranova is long FCX; Terranova is long TBT; Terranova is long OXY; Terranova is long HOS; Terranova is long F; Terranova is long LULU; Terranova is long OIH; Terranova is long CAT; Terranova is long AXP; Terranova is long EMC; Terranova is long WFC; Terranova is long AAPL; Terranova is long IBM; Terranova is long Silver December $40 puts; Finerman owns AAPL; Finerman owns BAC; Finerman owns GOOG; Finerman owns JPM; Finerman owns ORCL; Finerman’s firm owns AAPL; Finerman’s firm owns JPM LEAPS & PUTS; Najarian has long call spreads APPL; Najarian has long call spreads MOS; Najarian is long CBOE; Najarian is long CME; Najarian is long SIGX

For Anthony Scaramucci
One of 8 national finance chairs for Mitt Romney campaign
SkyBridge Capital Is A Fund Of Funds Manager
Held a fundraiser for Mitt Romney
Has contributed to the Romney campaign

For Jeff Saut
Saut owns HCN
Saut owns LIN
Saut owns EVEP

For Anthony Scaramucci
No disclosures

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Evercore Partners seek investment banking business from Sprint (S) and expect to receive or intend to seek compensation for investment banking services from this subject company within the next three months.

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Ticonderoga Securities: The relevant research analyst(s), as named on the front cover of this report, certify that (a) the views expressed in this research report accurately reflect their personal views about the securities and companies mentioned in this report; and (b) no part of their compensation was, is, or will be directly or indirectly related to the specific recommendation(s) [POT, CF, MOS, DE, DBA] or views expressed by them.

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No disclosures

CNBC.com with wires.