Business and Financial Roundtable Experts Predict Commodity Boom and Forecast Next Recession
(Mahwah) - A panel of nationally-known financial experts discussed current and future economic trends and how they affect business and personal portfolios at the “2004 Business and Financial Outlook Roundtable” held at Ramapo College of New Jersey.
Ramapo College’s Center for Business and Public Policy and the Ramapo College Business Network presented the roundtable, at which more than 100 people attended. Dr. Murray Sabrin, executive director of the Center and a professor of finance at Ramapo College, moderated. He presented his recession predictor, which is based on fluctuations in the Consumer Price Index (CPI) published by the Bureau of Labor Statistics. Sabrin revealed how the CPI is predicting the next recession to begin in 2006.
Perhaps the key message of the roundtable, according to Sabrin, was presented by panelist Jim Rogers, author of Adventure Capitalist and a business correspondent for Fox News. Rogers’ concern is that the debasement of the U.S. dollar will have substantial impact on all financial markets in the years ahead, causing a boom in commodity prices.
Rogers’ comments resonated with Frank Reick, president of Fluoramics, Inc., a Mahwah-based company, who attended the roundtable. “I was impressed with the group assembled and how they presented the morass we call the financial world,” he said. Reick, who is an inventor, said what he concluded from the roundtable is, “If you want businesses to grow, you have to do something future oriented, such as developing new products.” The experts also advised attendees to invest in foreign markets. Reick said, “The information I received confirmed what I’ve already done. I invested in the Chinese stock market.”
Richard Lemieux, CPA, partner of Ernst & Young and a Center board advisor, said a dominant theme of the event was how state government issues impact what’s going to affect New Jersey’s economy. Ernst & Young sponsored the roundtable and recently awarded the Center a grant. “Ernst & Young is committed to supporting higher education and the Center,” noted Lemieux. “If we continue to spur discussion and have an impact on our state representatives and businesses, then we will have achieved our goals.”
The Center for Business and Public Policy at Ramapo College provides a nonpartisan forum for the examination of issues that affect the economic well being and quality of life of New Jersey’s citizens. The Center’s focus is on taxation, health care, education and business regulation. The Center hosts colloquia, workshops, conferences and other programs, and publishes journals and papers.
For more information about the Center for Business and Public Policy and the recession predictor, contact Dr. Murray Sabrin at 201.684.7373 or msabrin@ramapo.edu.
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