If I knew how to work the speed dialer on my 35-button telephone, one of the names I'd have on it would be Jeff Thredgold, president of Salt Lake-based Thredgold Economic Associates (TEA) and economic consultant to Zions Bancorp.
I've been calling Jeff to pick his brain on finance and economy stories for as long as I can remember — as far back as the days when our phones here at the D-News had rotary dials and we wrote our stories on paper using an Industrial Age device known as a typewriter.
Thus, when I received a copy of Jeff's new book, "Economy by Thredgold" subtitled, "A common Sense Discussion of the Economy, Money, and Success in the 21st Century," I didn't toss it on my pile of "I'll-read-that-when-I-find-time" business tomes, which currently numbers (rough count) 50 volumes.
I was particularly intrigued with the book's byline: "By Economic Futurist Jeff Thredgold." I'd never before heard Jeff — or any economist — described as an "economic futurist."
Thredgold is one of the most intriguing guys I know. He's only a bit shorter than Mark Eaton but doesn't seem to have gained a pound since high school. He can drive a golf ball as far as Tiger Woods, and he's married to a beautiful woman, Lynnette Thredgold, who is a bodybuilder, a concert violinist and, oh yes, a wife and mom.
When I first met Jeff, he was an economist for Commercial Security Bank and was pretty much a local player, but after CSB merged with KeyCorp, Mr. T began cropping up in The Wall Street Journal and Business Week and on CNN, CNBC and many other places that U.S. presidents and Federal Reserve chairmen get their economic news.
He also writes a weekly financial newsletter, "Tea Leaf," and he's a popular speaker on the chicken-and-peas circuit, where he stands out from the "Dare To Be Great!" crowd for his low-key speaking style that nevertheless commands attention. He reminds me of those old TV commercials: "When E.F. Hutton speaks, people listen."
He's also a rare bird among folks whose livings depend on self-promotion — he laughs more at himself and his profession than anyone I know. He quotes Huntsman Corp. lawyer Todd Zagorec on how one goes about becoming an economist: "It all starts with an invitation on a matchbook cover, followed by a couple of night classes learning to say things like, 'Interest rates will remain stable, assuming they don't rise, fall or . . . move sideways.' "
Jeff insists that economics should get the same respect as all the other occult sciences (although he holds an M.A. in economics).
In the time-honored tradition of critics and columnists, I'm going to finish up this piece by quoting a few tidbits — taken out of context, naturally — from the book.
"Barring a major recession, we expect the Dow to reach 15,000 by 2004 and at least 25,000 by 2010. As always, portfolio diversification is a must."
"A major opportunity in coming years will be to retain older workers in the work force. Our traditional mentality that once a worker reaches the age of 65 they are ready to be put out to pasture must change. Fortunately, extremely tight labor availability will see this view displaced."
"The amazing U.S. job growth of the past 15 years has taken place almost totally within small- and medium-sized businesses."
"My kids think 'damn' and 'taxes' are one word."
"President Clinton talked repeatedly of 'saving money for the future.' Governments don't save money, governments spend money."
"The Federal Reserve now takes its direction from what has emerged as the most powerful force, or voice, in the universe — the U.S. bond market."
"You know what really hurts? When even 'Made in Mexico' signs are made in Mexico."
If you'd like your own copy of the 164-page hardcover "Economy by Thredgold," you can get one for $22 by calling 801-533-9663 or toll-free 888-847-3346 (it's not yet in bookstores). The distributors take plastic and they pay shipping, handling and sales tax, so 22 bucks is the total. Jeff's Internet site is www.thredgold.com.
E-MAIL: max@desnews.com