Their reputations and future salaries depend on the accuracy of their forecasts. If so, by 2008, these people will be working at Walmart; after all, what kind of job exists for an economist who can’t make forecasts with the data right in front of him? Heck, I even correctly pegged he SD economy back in December 05, and I’m just a housewife.
This dire lack of accurate forecasts is so obvious, that I realized it is a void screaming to be filled. For this reason, I am starting a consulting company, specializing in the San Diego economy. We need accurate news, analysis, and forecasts for San Diego, not just the fluff coming from Nevin, Gin, Gregory Smith, Christopher Thornberg, and possibly SANDAG. SANDAG is pretty good, but they don’t come right out and say there is a bust coming. They have a dual responsibility, to support our economy. I will be completely independent, so I can speak freely. My website will be a compliment to piggington, not a competition. I want to build further on what Rich has done, by expanding into employment and forecasting. I have tons of great ideas, but the most important, how to make money, is not yet fleshed out.
Does anyone have any ideas or comments about what is missing in San Diego’s economic forecasting? What would you be willing to pay for? Realize that Alan Gin is biased because he is paid by the real estate industry. If you want an unbiased economist, like Roubini or Baker, who would pay this person? If the person is paid by a company, their reports are slanted to promote that industry. What services would a forecaster provide for a fee, to allow her to stay independent? Or does everyone think everything internet related should be free? Would any of you pay a monthly access fee for pigginton? How much?