Half a century ago, America suffered one of the most traumatic events in our history: The assassination of President Kennedy. But while it is important to remember that, it might also be good to consider that there is a bunch of good economic news today. Good news, especially for Michigan.
Yesterday, University of Michigan economists presented their annual November forecast. They saw good things ahead, with the national economy growing almost twice as fast over the next two years as now.
Two experts from the Research Seminar in Quantitative Economics predicted five million new jobs over the next two years. Unemployment, they predict, will fall from just over seven to about six percent.
Meanwhile, they predict the automakers will sell half a million more units next year than this, more still in 2015, and the housing market will also grow. Inflation will stay low and oil prices will remain steady. This is all very good news, if true.