A Goldilocks economy, “not too hot, not too cold,” says economist Thornberg
Beacon Economics founder Christopher Thornberg asks what’s not to like about the economy during his annual South Bay Economics Forecast last Friday at Terranea Resort. Photo Beacon Economics founder Christopher Thornberg made his name as an economics forecaster by predicting the 2008 Great Recession in 2006. Since then, he has been a sought after speaker known for making the “dismal science” of economics entertaining and educational. And for not predicting another recession. “Same forecast as last year. No end to this expansion in sight, despite all the insane headlines,” Thorberg said at the start of his sixth annual South Bay Economic Forecast Report to the Palos Verdes Chamber of Commerce last Friday at Terranea Resort. Thornberg compared the economy to Goldilocks’ porridge. “Not too hot, not too cold.” “Investment spending is stable. Interest rates are down. And don’t tell us we need more jobs. Unemployment is at a 50 year low. We have too many jobs. South Bay unemployment is below full employment. That’s why Terry can’t find workers,” he said, referring to Terranea CEO Terri Haack, who introduced him. “It’s not the Chinese and Mexicans who are stealing our jobs. It’s old…
Read this story on easyreadernews.com