Why do I follow what Brian Wesbury has to say about the economy? Two simple reasons:
1. His objectivity and his optimism are a welcome relief from the politically-inspired gloom-and-despair propaganda coming at us from all directions.
2. His forecasts are accurate; in other words, the stuff he predicts usually comes true. Imagine that.
It’s a double-whammy that’s hard to beat, and the Chicago Sun-Times is noticing. Here’s a snippet from the article by Terry Savage; be sure to follow this link and read the whole thing.
USA Today ranked Brian Wesbury, chief economist for Claymore Advisors in Lisle, as one of the nation's top 10 economic forecasters last year, and he's also been acclaimed by the Wall Street Journal for his accurate predictions.
That's why I was encouraged to see that wind, rain, energy prices and layoffs haven't dampened Wesbury's enthusiasm for a growing economy in 2006. In fact, he's predicting economic (GDP) growth of 4 percent in the coming year, and says oil prices will decline to about $40 a barrel by the end of 2006.
Real GDP growth of 4% implies nominal growth of 7%, which in turn would generate a windfall of tax receipts for the government at current tax rates, which in turn would keep the budget headed for balance a few months before the 2008 presidential election, which in turn would muffle the disaster peddlers. See why I’m optimistic?
