As put by WalletHub, “2013 was a year characterized by economic distractions, with things like the government shutdown, concerns about a potential U.S. default, and overall political obstinacy taking center stage. So, it’s fair to wonder: Will 2014 be any different?”
Covering everything form GDP, unemployment, the stock market, and interest rates to Congress, Obamacare, and gas prices, WalletHub referenced experts like Smith who says, “I am very bullish on the economy and have been for a few years. I’m waiting for the economy to bust out. The problem, however, is that everyone else is just itching for the next recession so they can say ‘See, I knew another recession was heading!’”
In particular he is cited for his outlook on the stock market – predicting that it will be solid, though volatile. In his words, “These markets are primed for a big correction. A lot of this is speculative demand pushing equity values up, and this could keep up for another year. But I am pretty confident that we are going to see drop in the averages. And if this happens, we could see a drop in other sectors and the start of a little recession.”
Specializing in cultural, sports, religion, educational, labor, and urban economics, Thomas Smith joined the Goizueta Business School faculty in 2008. He has held faculty positions at the University of Illinois–Chicago, National-Louis University, Loyola University, and North Central College. Smith received a PhD in labor and demography/cultural economics and policy from the University of Illinois at Chicago in 1998. Smith has presented dozens of papers at academic and professional conferences in the U.S. and abroad, while also serving as a consultant for the arts, music and entertainment industry and in curriculum development.