One of the economists who correctly forecast the housing bust was Christopher Thornberg. From the Contra Costa Times: State’s revised jobless rate a cause for worry[T]he nation and California could tumble back into a fresh economic nose-dive, warned some analysts, including Christopher Thornberg, partner and economist with Beacon Economics.
“There is a substantial chance of a double-dip recession,” Thornberg said.
“We’re at the bottom now right now, but when the stimulus wears off, things
could get worse,” Thornberg said.
And from Jane Wells at CNBC: ‘The Good News-The Recession is Over. The BadNews…’
[Chris Thornberg] says that the recession has ended, but that’s mostly due to massive government intervention. When that aid starts to dry up, “We’re gonna have a double dip
“Enjoy 2010 because it’s going to be a good year. 2011 is not.” [Thornberg
said]. When I asked about 2012, he answered, “It depends how bad 2011 is.”