Buckle Up

Whenever a pilot encounters turbulent air, the seat-belt sign goes on. Even in mild disturbances, one cannot rule out an unexpected drop in altitude. This might explain why economists have the reputation of predicting "six out of the last two recessions." Like pilots, they tend to be overly cautious, knowing the potential danger of falling.

Volume: 24 - Number: 1

Leading Index Title:

Special Topic Title: Regional Forecasting


  • Dick Conway
  • Doug Pedersen