The recession is over!

Predicting economic downturns and upswings is more an art form than an exact science. In my view, there are two important factors when making economic predictions: the facts (traceable economic data) and emotions (how we feel often dictates our future economic behavior).

Readers of my column seem to like it when I take a positive view of the world. So today I’m going on the offense by declaring that the recession is over! (I expect the National Bureau of Economic Research to officially say that the recession will be over this summer…and since it usually lags about 18 months behind, we’ll have some time to find out if I was right).

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