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Recession Prediction for 2007

She's long been considered a big downer of an economist, but Tucker Hart Adams is considered something of a local celebrity and her recent condemnation of deficit spending and the debt-based economy in general were front page news. I like Adams. She's certainly not an Austrian, but she gets it. Specifically, she understands that an economy cannot handle crushing debt forever. The negative savings rates and a disproportionate emphasis on consumer spending seem to be a problem for her - unlike many economists.

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