Wednesday June 3 | Economic Forecast

June 1, 2009 at 12:40 pm | Posted in Coming Up | 5 Comments

Economist John Connaughton returns to share his latest economic forecast for North Carolina. For more than 20 years, Connaughton has reported on the economy. He’ll share the news on the second quarter of this year and on the economy in general. In January he predicted that the economy will grow this year. We’ll test that prediction.
John Connaughton – Professor of Economics, UNC Charlotte

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  1. John Connaughton spoke at a meeting I attended last Fall. He predicted we would be coming out of the recession in the 3rd Quarter of 2009. I think he is right on with his prediction and we should see consumer confidence rising soon. I will definitely tune in for his interview!

  2. “There are two types of economists in the world. Those who don’t know what they are talking about, and those who don’t know they don’t know what they are talking about.” (John Kenneth Galbreath, I think). Which type is your guest?

  3. Writing from Mooresville:

    1. As GSP is in the Stste’s version of GDP, can Professor Connaughton comment on the trade balance of the State to other States or outside of the US.

    2. Do recessions affect the ultimate make-up of the tiers of business (large, mid-size, small)? That is, does big business ultimately get bigger while smaller or mid-size businesses disappear? or perhaps the opposite?

  4. I wanted to let Charlotte Talks listeners know that Dr. Connaughton presents his Forecast each quarter at a press conference and luncheon that’s open to the public. If you’d like to join the mailing list for an invitation to future events, email The next Forecast event will take place in September.

    Sasha Trosch
    Belk College of Business
    UNC Charlotte

  5. DDSB- Different Day: Same Bullcrap. This man is an employee of boosterism, an enabler and promoter of imprudent borrowing using rosy forecasting. As much as we wish things could be better without real reform (basic politico-economic restructuring) they will not.

    It was recently remarked by a state education official that projected cuts will regress NC education to the 30s. Charlotte rhetoric is such that we are told to believe the completion of I-485 will solve most everything. Where are the “green jobs” and where is the retraining/reeducation for displaced workers? A little “road money” (infrastructure maintenance) will not re-inflate the balloon. It seems the only stimulus most families have received is a $7.50 a week payroll tax cut. All else is arrested by the needs of elite vested interests. A 30% cap on credit card interest is an insult to citizen debtors. This country lacks both reliable health care and a safety net beyond SS and 26 weeks of unemployment checks, paltry starvation food stamp handouts. What then for the discouraged and unemployed? An unanswered desperation is rising amidst cascade failure in most sectors. Our country is perched upon the precipice of an abyss as “Conman Connaughtons” predict prosperity “just around the calendar.” I think austerity is just around the corner but that the people cannot be told: too much political risk.

    Obama may be the Gorbachev of our empire. His Egyptian bluff precedes unheard of concessions to our creditors. Not being an oil power we may witness whatever grains and fruits/vegetables and meat able to be produced here hauled away, as we fight over the scraps. In evidence read the analysis of Yegor Gaidar, former Russian prime minister and economist (available through American Enterprise Institute) where he discusses the fall of Spanish Empire and the 1989 Soviet financial/power dilemma. Both oligarchies continued to possess violent force but could not use it for forbearance of their creditors and potential creditors. Domestic food production (and domestic self-sufficiency in other raw materials and production) became crucial overnight and they were caught unprepared. See the imported food in the supermarket? The United States has ceased making shoes and socks, produces few appliances or electronics. It is not so much foreign nations that hold our notes but wealthy elites behind them, the movers of sovereign wealth funds and other credit cartels. Our wars of occupation and overseas adventures (not coinciding with our creditors’ needs) must wind down because we (as a nation state ) are broke and out of gas. Check your gauge John “Conman” Connaughton, and take your foot off the laughing gas.

    Although I sound dour here there are solutions that would harness human labor and talent. A society of enforced idleness and forced consumption cannot be maintained. The domination of agriculture and medicine and housing by global corporate speculation is as poisonous as quota-ed collective farms. Turning our patriot military volunteers into corporate controlled “terroops” only indentures us all and does not defend our freedom or our territory. Our needs are at odds with those of the people in control, the people who employ “Conman Connaughtons.” Ask questions and demand better. Be prepared to boycott and strike. Don’t wait until hunger forces you.

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