On July 29th, I posted the following in a piece titled “I take no joy in being right”:
BTW, I think that a recession in early 2012 is a 50/50 likelihood — I’m not making a final call, yet. I expect that by the end the year, an accurate forecast for the first half of 2012 will be possible.
A little over two weeks later, USA Today says the following:
Prior to either of these postings, I wrote on July 8th in Delaware First State Media, that
“As James Carville famously put it in 1992, “It’s the economy, stupid.” Our State government & legislators did nothing to make Delaware an easier place for small businesses to grow and thrive. Delaware’s regulatory regime, energy prices, and frozen infrastructure remain a huge economic impediment to expansion.
If the economy experiences another downturn, the State’s wasteful spending will become a significant issue as well as the decade long failure of our government to streamline our Medicaid system, which within the next few years will be the State’s largest single expenditure. Making budget cuts and raising taxes in an election year is not good politics.”
Just remember, you read it here first.