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America's Economic Woes24:49
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photoAllen Sinai may not like to say I told you so, but the fact is, when it comes to the economy, he did. He told us to watch out for the sharp downturn of the early 80s, to position for the mid-80s bull market, to run before the October crash of Black Monday. He called the early 90s recession and the late 90s boom.

Now, Allen Sinai is looking through the wreckage of that boom and the U.S. economy's fitful efforts to find new footing. It's not there yet. Joblessness is gripping many households. Businesses are paralyzed with fear of revving up too soon. Consumer confidence is losing its heroic bravado. On the other side of all that, maybe a year out, maybe more, Sinai sees the turnaround. But it doesn't look like anything you may have known recently. Up next On Point: Allen Sinai and the next American economy.

Guests:

Allen Sinai, chief global economist, Primark Decision Economics, Inc.

This program aired on October 28, 2002.

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