Last week I indulged in some wistful, year-end nostalgia, but now that 2013 is underway, let’s turn our attention to a time that is more crucial to our well-being: the future in which we will live.
Forecasts for sluggish economic growth are common. Investment superstars and gurus such as Bill Gross of PIMCO and Jeremy Grantham of GMO, and researchers such as Dr. Robert Gordon of the National Bureau of Economic Research, all have predicted anemic growth for the next several years. With the caveat that when too many “expert” opinions agree, the resulting consensus can be spectacularly wrong, I agree with the pessimists.
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