Barron's roundtable highlights

Barron's published the first installment of its famous Barron's roundtable, featuring 10 "gurus" talking about the economy.

The experts are:

• Archie MacAllaster, MacAllaster Pittfield Mackay
• Fred Hickey, The High Tech Strategist newsletter
• Meryl Witmer, Eagle Capital Partners
• Mario Gabelli, Gamco
• Bill Gross, PIMCO
• Abby Joseph Cohen, Goldman Sachs
• Oscar Schafer, OSS Capital Management
• Marc Faber
• Felix Zulauf, Zulauf Asset Management
• Scott Black, Delphi Management

The discussion is summarized below, but if there's one theme it's: We're fine at the moment, and we're screwed long term.

As for this year:

• Witmer: The economy is coming back nicely, but stocks are pretty fully valued at this point.

• Black: Things are fine now, but we're in trouble long term because we're kicking the can down the road.

• Schafer: Yes there are long term issues, but it's a stock picker's market, and stocks will rise 5-10%

• Zulauf: The developed world, in contrast to the emerging world, is living in a fantasy.

• Gabelli: Everything will be fine this year. China slows a little. Europe keeps bailing out the PIIGS, and Obama moves to the center and all his hunky dory.

• Gross: Yes, the economy will grow 4% this year, but it's a sugar high, and without serious re-investment, the US is going nowhere.

As for the deep, structural issues that everyone is worried about, what are they?

• Cohen: We have a deep educational deficit. We need more investments in science.

• MacAllster: But the US still leads the world in tech innovation.

• Hickey: But US companies are all forced to hire overseas workers, for lack of talent in the US.

• Faber: Everyone's living in a dream world. It's all the Fed's fault!

On gold:

• Hickey: 50% of my assets have been in gold for 7 years. It's ridiculously under-owned still.

• Zulauf: It still has a long way to go.

On overall market predictions:

• Hickey: If the Fed keeps printing, the stock market could go another 10% higher. Otherwise, , it will collapse.

• Gross: With GDP of 4%, stocks could move 5-10% higher.

• Cohen: S&P 1500!

• MacAllaster: Here comes another 1,000 point dow rally.

• Gabelli: 5-10% gains.

• Zulauf: 10% range one direction or another.

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