Yardeni Ready to Drop Y2K-Related Slump Prediction, WSJ Says

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Yardeni Ready to Drop Y2K-Related Slump Prediction, WSJ Says

By Rajiv Narayana

New York, Jan. 4 (Bloomberg) -- Edward Yardeni, chief economist at Deutsche Bank Securities Corp., said he is preparing to change his forecast that the Y2K computer bug would disrupt the global economy, the Wall Street Journal reported. In a conference call with clients, Yardeni said the year 2000 came in more smoothly than expected, and that he ``may have spent too much time trying to be a contrarian.'' When Yardeni revises his economic forecast for the year this week, he will probably play down or reject the possibility of a recession, the paper said.

Americans feel the efforts to prevent computer problems and terrorism surrounding the New Year's holiday was responsible for the lack of disruption, a CBS News poll has found.

(WSJ 1/4 A4)

For the dowjones.com Web site, including stories from the Wall Street Journal, enter DOWJ .

-- Hokie (Hokie_@hotmail.com), January 04, 2000

Answers

Oh, good. The chief Y2K bear has been converted. All economists are bullish now.

Sadistic contrarians such as myself are salivating over just the thought of the smell of the blood running in the streets.

-- JIT (justintime@rightnow.net), January 04, 2000.


I'm certainly interested in this post, since I was a Yardeni-ite at least 2 years before coming across Yardeni's name.

If we escape without even a severe recession, I personally am going to be faced with an intriguing puzzle: how in spite of 35 years in the computer business I could have for 3+ years made a very strong prediction that turned out to be wrong. Well, better an intriguing puzzle than an awful reality.

-- Peter Errington (petere@ricochet.net), January 04, 2000.


Well said, Peter. It's nice to be wrong about Y2K. Especially when you were prepared to be.

Cup of re-constituted de-hydrated cocoa anyone?

-- King of Spain (madrid@aol.cum), January 04, 2000.

If one wishes to question a man's motivation, conviction, and his ability to sniff the breeze and go with the crowd. It would appear we have found one here. Where is Hoff?

-- Michael Erskine (Osiris@urbanna.net), January 04, 2000.

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