Economist John Kamin of the Forecaster Moneyletter said that economic recovery was going to take a lot longer than anticipated.
“Eventually recovery will start slow and be almost invisible for months,” said Kamin, publisher of the Forecaster Moneyletter since 1962. “People expect economic changes to take place rapidly and expect stimulus programs to work fast, as well as bailouts. But business cycles, history shows, do not work that way. Changes are slow as they work their way through the system.”
There are many hidden debts, accounting irregularities and toxic assets yet to be revealed, he said. Declining consumer confidence and shriveled budgets are making the situation worse, he said.
Forecaster Moneyletter has released the four-part series of advance forecasts and predictions for 2010 plus predictions all the way out to 2062, including an anticipated increase in U.S. population to 600 million. It can be obtained for $20 by writing to Forecaster Moneyletter, Dept. NRP2, 19623 Ventura Blvd., Tarzana, CA 91456 or by calling (818) 345-4423. A one-year subscription to the Forecaster is $180 or $320 for two years. The four-part series is included in the subscription price.
The weekly Forecaster Moneyletter researches hard money such as gold and silver, interest rates, business cycles, rare coins, collector cars, antiques, property speculation and other non-traditional inflation hedges.
“Move toward hard assets,” Kamin advises. Among his favorites are gold and silver coins, fun hobbies such as collector cars that appreciate, rare coins, antique firearms and loose diamonds. He also likes buildings that yield cash flow, especially foreclosures that can be rented out, including small commercial suburban business buildings within commuting distance to metro job centers.