Thoughtful Money with Adam Taggart · Sunday, September 6, 2026
Economist David Rosenberg stated that he has a completely different view on the economy than others, believing it is not resilient or solid. He predicts a "growth turn-down" from a 3% growth economy to around 2%, with a four-quarter trailing real GDP growth of 1.5%. Rosenberg attributes much of the current economic growth to AI data center construction and the equity wealth effect on spending, particularly at the high end.
“I don't see the economy as being, uh, resilient or solid or healthy.”
“I am seeing that we are in the midst of what I would term, uh, a growth turn-down.”
“Uh, and now, I believe that once we get the third quarter numbers, we're gonna have a four quarter trailing trend in real GDP of one and a half percent.”
“Uh, you have the, uh, AI data center construction boom, uh, and that's providing about half the growth in the economy.”
“Uh, and then the other half is the equity wealth effect on spending, especially at the high end.”