David Rosenberg: U.S. economy in 2014 has more upside than many think | Financial Post
When I mentioned the somewhat more upbeat tone in the most recent
Beige Book, a participant asked, “Who cares what the Fed has to say,
anyway?” My response that the Beige Book is a compilation of what
business owners have to say about the macro outlook was again greeted
with shrugged shoulders.
When I highlighted my bet with well-known economist John Mauldin that
we would see at least one three-handle on payrolls next year and that I
see real GDP growth at 3%, you could hear gasps in the room. Today,
this is viewed by most as wishful thinking.
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