Friday, December 21, 2007

Wesbury Sees Growth Ahead

An excerpt from last night's Kudlow & Company:

“Let me just point out that without housing, 3rd quarter GDP was 6 percent annualized growth. You have to remember that going back into the 2nd quarter, [bearish economist] Nouriel [Roubini] and others were saying 3rd quarter was only going to have 2 percent growth. So these pessimists have been way, way, wrong on the low side. They have been continually blown out of the water by stronger than expected data.

And I don’t care what weekly chain store sales are saying, and all of these things. We’ve constantly had revisions upward. We’ve constantly had better news. And I think all you have to do is go outside. You can’t get a parking spot at the mall; you have to wait in line to get a table at a restaurant; you get middle seats on the airplane. There’s no evidence that this economy is slowing down.” -Brian Wesbury, Chief Economist at First Trust Advisors