The Flinchum File
Thoughtful Economic Analysis and Existential Opinions

Nailed it!

10/29/2010

Economists get ridiculed frequently and richly deserve it. In fact, they usually enjoy it!

However, today was a good day, in that they accurately predicted the GDP growth rate in Q3 would be 2.0%, compared to 1.7% in Q2.

This makes it even less likely we will see a “double-dip” or experience the worst of the recession again. This makes my forecast of a “long, hard slog” even more likely, darn it! I was still hoping we would sharp a sharp rebound, which is more typical following a recession.

Sometimes, economists don’t want to be correct …

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