Another Economic Forecast reached

Last week, the Associated Press reported that average home mortgage rates had dipped to 4.96 percent. In September, 2007, I forecast that home mortgage interest rates would drop to less than five percent during our current recession, which I also accurately forecast.

In that same memorandum, I also forecast "that it was possible home mortgage rates could possibly drop to less than four percent."

People scoffed at me for suggesting such nonsense. In September 2006, when I predicted that a recession would occur sometime between the fall of 2007 and the summer of 2008, and that it would be "the worst since 1981, and possibly since the Great Depression," even long time friends laughed at me. Now I'm doing the laughing.