Time to start guessing as to what the new year will bring.
Dow = 8500 after topping 12,000 briefly early in the year a series of crisis’s will erode confidence, fuel profit taking.
Silver= $50 due to eroding confidence in the Dollar
Gasoline = $4.24
Economy will continue to slow, GDP will stagnate or measure recessionary.
Real Estate market will continue to suffer and figure more prominently in the financial picture. Record foreclosures will strain banks, undermine confidence and depress values.
The auto industry further declines
Government revenue shortfalls force austerity measures like park closures, shorter public sector work weeks, more expensive permits, and reduced services. Some entitlements will suffer but the privileged (big donors) and elected classes continue to benefit.
Social unrest begins in California, race tensions boil over and become even more divisive. The entitlement lifestyle begins to unravel. It will likely make appearances in New York, Texas and Arizona too.
The illegal drug trade violence amplifies, spills over the border and into the headlines.
Europe’s debt woes are felt in USA further straining financial institutions. The Fed will infuse more $ to prop them up.
Americans begin to adapt, food crop seed is in high demand. Chickens are more common in backyards.
Shortages will effect availability and prices of commonly used goods. Words like “hording” will be used in the news.
The “recovery” will be a thing of the past. Speculation as to low will it go. The hunker down mentality takes hold in more households.
Education takes some hard economic hits.
A socialist element gains traction and gathers support. The media promotes it in a positive light.