Hoadley appraises the economic condition of the United States. To answer the title of the talk, he says the country is heading nowhere in the short-term, and that the country is in the process of a massive correction. He offers five conclusions he's come to and spends the talk explaining them. First, there will be a few years of flat economic performance. Second, the country is deeply in a recession. Third, he offers numbers of zero growth, 5.5% inflation, 6.5% unemployment, and lower interest rates. Fourth, he says resolving major issues is needed for growth. Fifth, America needs to do something about poverty and homelessness. After running through these concepts, he adds a sixth conclusion, that America should not panic.

Hoadley's biography includes: Executive vice president and chief economist, Bank of America NT&SA, San Francisco, 1968-81; senior research fellow, Hoover Institution, 1981-2003; president, Commonwealth Club of California, 1987; author, "Looking Behind the Crystal Ball," 1988.