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Economic Forecasters, Who Missed the $8 Trillion Housing Bubble, Predict 14 Month Recession


I don't mean to picky, but it would be reasonable for USA Today to remind readers that the forecasters whose views it presents in the article, "Economic forecasters' survey says recession to last 14 months," all somehow managed to overlook the massive housing bubble. They were therefore caught by surprise when it collapsed, pushing the economy into the most severe downturn since World War II. Readers may have found this background helpful in assessing the predictions from this group of economists.

--Dean Baker

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