Economic Pundits and Milk

The economic pundits are telling us each month that things have bottomed out; things are getting better; or, things are going to get worse. Take your pick. Experts, and I might be using the term loosely, don't seem to understand where the economy is going. I have decided what the problem is - they have jobs.

The economic pundits, experts and talking heads all seem to be tenured professors or work for a think tank in Washington, DC. These folks can never seem to agree on what the most appropriate economic indicator is to follow. While some of them give one or another indicator to watch, the best answer I have ever heard is that our economy is too complex to just watch one measurement.

Another thing I have noticed is that all of these economists are surrounded by books - lots of books. Please, don't get me wrong - books are good. In fact, I have written one recently. But, I think I would trust an economist more if they were able to tell me the price of milk, or eggs, or a pound of ground beef. Then I would know they live where I do.

I am not an economist or pundit, but I think the economy is not going to turn around until late this year or early 2010 - and it's going to take a few years to get it back to 'normal.' Why do I think that? Since January 1st we have lost nearly 2,000,000 million jobs according to government statistics. The reality is probably closer to 2,750,000 jobs. We need to get people back to work before we can even begin to think that the economy is getting better.

While I care about the stock market, I care about my grocery market more. I care about what is on my shelves at home and in my refrigerator. When it gets easier to buy groceries I know we will be on the way.

I would even like it more if one of the pundits could tell me the price of milk.