It’s a natural question after hearing economist Jim Paulsen offer the program at today’s meeting of the Eden Prairie (A.M.) Rotary Club.
Jim Paulsen
An investment management industry professional since 1983, Paulsen is the chief investment strategist at Wells Capital Management. He is often quoted in The Wall Street Journal, Barron’s and The New York Times.

He suggested this morning that whether we are in a recession or approaching one, it may be the most widely and accurately anticipated one on record. Typically, he said, recessions occur when no one is watching, not when most everyone is waiting.

And yet, low consumer confidence based in part on doom-and-gloom economic reports (and media reporting) may in fact be driving at least a part of the current downturn, he indicated.

It’s his contention that it’s mostly housing and autos – collectively only about 7 percent of Gross Domestic Product (GDP) – that are experiencing economic “carnage” and are holding us back from better economic times.

Overall, he said, we’re probably in our worst quarter and that “pretty decent growth” is ahead.

You can get more detail on Paulsen’s economic insights at www.wellscap.com, where you’ll find a link to his March 2008 newsletter espousing the views above.

(Rotary Rooter focuses on the activities of the Eden Prairie A.M. Rotary Club, which meets at 7:30 a.m. Tuesdays at the Biaggi's restaurant at Eden Prairie Shopping Center. Guests are welcome. You can learn more about the club by visiting www.epamrotary.)