The second leg of a six-year recession will soon hit. There only appears to be a recovery caused by printing of dollars and low interest rates, but it isn't real.
2008 will probably be the next good year. This means, recession in 2001, 2002, 2003, what looks like recovery in 2004, and return to recession in 2005, 2006, and 2007. A crappy economic outlook.
Incidentally, this was forecast in 2000 and the topic of many macro economists. I had input to the meetings, but couldn't attend due to other work commitments.
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