Sunday, December 31, 2006

Economy in 2007?

From today's Gainesville Sun, "Will the Economy Boom or Bust in 2007?" (out for national distriubtion through McClatchy-Tribune newspapers) I say that the economy will continue to perform well and add jobs in 2007.

"The booming five-year economic expansion gets dismissed so frequently that The Wall Street Journal has referred to it frequently as the ''Rodney Dangerfield economy.''Given the longevity and resilience of the current economic expansion, perhaps the ''Energizer Bunny economy'' is a more accurate term. The U.S. economy just keeps on growing and growing, and will continue growing in 2007."

Mark Weisbrot, co-director of the Center for Economic and Policy Research, predicts gloom and doom. "A recession (in 2007) is likely, because of the enormity of the housing bubble and the impact of its collapse."