At least he’s now admitting it is slowing. But he and Thornbug think there’ll be no recession. We have low unemployment, so we can’t have a recession. By Q1 07, unemployment will be rising. Besides, if we keep replacing higher paying manufacturing and construction jobs with lower paying restaurant and retail jobs, we will have rising foreclosures and a recession anyway.

Within 6 months, nobody will care what Gin or Thornburg have to say. After all, if they are wrong in missing the biggest recession in 70 years, why should anyone bother to listen to anything they have to say?