Out of a desire to cultivate an optimistic outlook, we've been using the r-word sparingly in this blog. But that's not to say that we've been ignoring the gamut of opinions and prognoses about the future of the economy. We've been following it all, from soaring optimism to the grimmest despondency, selecting the most compelling analysis to share with you. So, about this recession of ours:
Wells Fargo economists predict that by the third quarter of 2009, even by this summer, consumer confidence and a diversified economic stimulus program will coalesce, creating intense momentum in economic growth. Jim Paulsen, senior economist at Well Capital Management, employs a powerful analogy. "It's like you're at a cookout and you're trying and trying to get your charcoal going and you keep squirting on lighter fluid and all of a sudden it goes poof!"
The root of this economic renaissance: the real estate market. "The sector that led the economy into the morass is about to turn the corner, perhaps as soon as this summer, and will start to lead us out."