Soft Landing?: I’ll cut to the chase. Economist Brian Wesbury writes in a recent blog post: “Our forecast for real GDP growth this year is -0.5%, with inflation remaining above 4%. In other words, a recession with higher inflation – stagflation. That’s what we expect…and it’s not a soft landing.” If you’d like to know why, click here. Also, here is the newest update to his High Frequency Data Tracker.
Main Street ain’t Wall Street: The Debt Ceiling Crisis: If you’re worried about the Congress failing to raise the debt ceiling, ask yourself how worried you were the last time this was big news….or the other 70 times since 1960 that our elected reps had to deal with this process. Economist Brian Beaulieu reminds us we’ve been here before and that Main Street matters more than Wall Street. If you’ve got three minutes, he’ll tell you why.
About that 2020 Great Depression: Most Vistage members have benefited from the economic forecasts of Brian and Alan Beaulieu of ITR Economics. For many years, the brothers Beaulieu have been forecasting a Great Depression for 2030 of a degree similar to that of the 1930. ITR’s blog page this week features two new articles on what’s ahead in seven years: “A 2030s Great Depression Update” and “What Will the World Look Like in AFTER the 2030s Great Depression”.
That’s the bad news. The Good News? You have seven years to get ready!