In your view, how likely is a recession next year?
31% Very likely
40% Somewhat likely
26% Not very likely
2% Not at all likely
How concerned are you about the impact of a recession on your business?
31% Very concerned
40% Somewhat concerned
25% Not very concerned
3% Not at all concerned
Totals do not equal 100 percent due to rounding.
Poll conducted 11/27/07
Rate of growth will slow to a crawl. But two quarters of declining GDP is not a high-probability bet at this time.
-Jeffrey Wetherbee, managing general partner, Glenmont Venture Fund, Albany
Fiscal prudence on the part of the government, and on the part of those who make the economy flow, i.e., the lenders, would, in my opinion, limit the possibility of such downturns. We have seen neither during the Bush administration. While the economic engine was fueled or supercharged by the easy money of tax cuts and subprime mortgages and home-equity lines, there was going to be a day when the supply would dry up. You can’t keep paying for things with promise, especially as a net importer.
-Jon Wilder, president, H&W Technology LLC
Going into an election year there will be considerable pressure on Congress and the Federal Reserve to try and micromanage every bump along the way. Real debate should focus on whether we can continue to fund Iraq both militarily and economically. What is the difference between banks writing bad mortgages and our government’s capricious spending when it is the stockholder/citizen that pays the bill? Not much.
-Don Gilmore, Greece
11/30/07 (C) Rochester Business Journal