Contrary to the customary downbeat drumbeat of economic decline, the most recent numbers actually show a pickup in manufacturing and a bottoming in the housing slump.
Bear Stearns chief U.S. economist, John Ryding, is now predicting 2.75 percent real GDP growth in Q4. I would label that “Goldilocks plus.”
And there ain’t no inflation either, as revealed by the recent consumer price reports which showed declining inflation trends.
Of course, the absolutely phenomenal Goldilocks stock market has been telling us this all along over the past six months.
As economist Arthur Laffer has noted, prosperity-inducing government policies remain in place: low tax rates, steady money, no re-regulation of business, and free trade.