News
SLOW G(R)O(W)ING FOR ATLANTA
January 12, 2012
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| Speaking of that REGA event, we got to hear Wells Fargo's Mark Vitner make his annual economic predictions. And much like Rajeev Dhawan's forecast, Mark is not seeing us drop back into a recession. But neither does he see us making any real economic headway either. In fact, it should be marginal growth for Atlanta for a long time. ?We're not getting back to 2.8% GDP growth until 2015,? he says. ?It doesn't mean the economy doesn't grow, it just means the economy doesn't grow rapidly until 2022.? The European debt crisis is a larger problem than most realize, he says, especially with troubled Euro countries like Italy being the third largest bond market in the world. And it will actually take the destruction of the Euro to finally solve the financial mess there. ?I'm telling you it's not going to survive. That's when we get to the seventh inning stretch.? |
