We have finally reached a point where all denial is gone and we are ready to admit the error of our ways. Sure, there were plenty of folks ringing the alarm bells years ago, but universal acceptance of the fundamental economic calamity that faces us from every corner of the world, and every person with two cents to rub together, has just now taken hold.

I wrote quite some time ago that the turning point in the economy cannot come about until President Bush admits there is a problem and that he will be the last person to do so. While I do not have a high opinion of President Bush, the facts speak for themselves as I wrote one year ago. (See Is Bush giving the country away without knowing it?)

The storm is not over, but we are coming to grips with it at very great expense. Admitting our errors is only the start; now we will have to spend years fixing problems and making many compromises. Unfortunately many people may lose their homes, jobs or both before we see significant growth.

For the past two weeks every business publication, broadcast, website and analyst in the known universe (including ours) has been throwing out its stock picks for 2007. Mine were published on Thursday, December 28, 2006 You don't have to be 007 to find the best picks for 2007!

I was not able to analyze all of the stocks that I thought were worthy of consideration for 2007 so I started compiling them on a list for public discussion on this site. In the coming weeks I will share them with our readers and you will be able to see what makes the cut for my dollar and why. A few of the stocks to be discussed in upcoming reviews:

• Aluminum Corp of China ADS (NYSE: ACH)
• Apache Corp (NYSE: APA)
• Anheuser-Busch (NYSE: BUD)
• Black & Decker Corp (BDK)
• ConocoPhillips (NYSE: COP)
• Fidelity National Financial'A' (NYSE: FNF)
• HSBC Holdings ADS (NYSE: HBC)
• Intuitive Surgical (NASDAQ: ISRG)
• J. P. Morgan Chase (NYSE: JPM)
• NIKE, Inc (NASDAQ: NKE)
• W D-40 Co (NYSE: WDFC)
• Yahoo (NASDAQ: YHOO)

I thought It would be valuable to hear what some of you thought might be worthy considerations and why also. Or if you just want to see how I or other readers might view some stocks you have been considering, that works too. Just post your picks or possibilities in the comments section and lets see where it leads. If there is a good response I will include your picks along with mine in upcoming posts.

Happy New Year, Health and Prosperity to All!

Check out my other posts for BloggingStocks here.

Sheldon Liber is the CEO of a small private investment company and the vice president for design and research at an architecture & planning firm.