I asked a respected friend which economists he follows and his #1 was David Rosenberg.

Rosenberg is a bear [cough].

Rosenberg has been pretty accurate in his forecasts.

When I was checking him out last night I found this Wall Street Journal article from 2008 – before the meltdown – which turned out to be amazingly on target.

Okay, that gives him a lot of credibility points with me.

What’s David Rosenberg saying now? See recent video below.

Talking Points from David Rosenberg Video

  • We’re between the 3rd and 4th innings before the next sustained economic expansion.
  • Average American household is $100,000 poorer than 2 years ago.
  • Among suggested investment strategies, he mentions income producing strategies.

Now remember, this is about the U.S. economy, not the Arizona economy and not the Arizona real estate economy. Nevertheless, the Arizona real estate economy swims in that ocean.