Wells Fargo economics conference

Wells Fargo Economists Predict Worst Recession Since 1930s


What is shaping up as the deepest and longest recession since the 1930s will end in the second half of 2009, Wells Fargo’s senior economists predicted during the company’s annual economic forecast teleconference yesterday.

The ongoing impact of $2 trillion in government stimulus, with other factors such as pent-up consumer demand and returning consumer confidence, will finally lead to a turnaround, and the third quarter of next year will be "better than expected” by many, said Dr. Jim Paulsen, chief investment strategist of Wells Capital Management. "It’s like you’re at a cookout and you’re trying and trying to get your charcoal going and you keep squirting on lighter fluid and all of a sudden it goes ‘poof!’” Paulsen said.


Reporters can hear a recording of the December 18th teleconference until January 17, 2009, by dialing 1-866-837-8032(domestic) or 1-703-925-2474. The conference ID is 1303927.

Comment: More from conference I attended yesterday

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