Today I attended the Cal State Fullerton/OCBC Economic Forecast Conference and had the opportunity to hear Dr. Anil Puri, Dr. Mira Farka discuss the economic outlook for 2009.
I took away that "...it is important to bear in mind that despite the gloom and doomsday scenarios out there, the current situation contrast sharply with the Great Depression and with Japan in the early '90s.
The outlook is for continuing slowing in the economy with three of the four GDP drivers: consumer spending, investments and exports forecasting weakeness and government spending uncertain but probably slowing as well.
I won't try to summarize all that Dr. Puri and Dr. Farka said, I would suggest you read about it in the Register or Orange County Business Journal. I did come away from the afternoon meeting feeling like we are in for a long fight and every business owner and top executive needs to consider how they will grow their business in these times.