Various economists have weighed in concerning the possibility of a recession in the United States.?
Wall Street is pointing to lower earnings from some major companies and thus sounding the warning that this could lead to a stagnant economy.?
Overseas markets have reacted and are convinced that the U.S. economy will have an adverse impact on Europe.?
The president and congress have discussed stimulating the economy by initiating refunds to all taxpayers.?
No one wants to acknowledge that we are headed for a recession.?
Economists have run sophisticated programs against company earnings, holiday sales, energy costs, home sales, new home construction,’personal debt projections, bankruptcies, automobile sales and venture capital activities.?
Even after crunching all those numbers there is not a consensus if we are on the verge of a full-scale recession or just a slowdown or hiccup in the economy.
Frankly, all of these machinations could have been avoided if the experts had merely contacted Stew Leonard, Jr., CEO of Stew Leonard Super Market, which is headquartered in Norwalk, Connecticut. ??
Leonard has a surefire way to determine the strength of the economy:?’I look for the mashed-potato effect.’If customers are buying our freshly prepared mashed potatoes instead of whole potatoes, then the economy is doing well.’Lately bulk potato sales have been up, so there’s a concern about where the economy is going.? (FORTUNE – 2/4/2008)
The so-called experts can cackle about their charts and their prognostications, but for me I’m focusing any investments I might make on the ‘Mashed Potato Metric!??
Back in 1928, candidate for president Herbert Hoover promised, ‘A chicken in every pot.? Perhaps candidates for president today could energize the electorate by announcing, ‘A twice baked potato on every plate.??
Message to Wall Street and various economists:’Turn off your sophisticated projection programs and start counting the sale of spuds at the supermarket!?