As I do every year I would like to give you what I see happening in the coming year in our economy.
- You will see gasoline prices increase once again.
- You will see oil prices escalate once again as speculators and corporations manipulate the oil and oil futures market !
- You will see unemployment increase further towards 10% or more !
- You will see the stock market increase to Dow 10,000 or even 11,000 in the months following the installation of the new President, after the optimism is gone and reality sets back in the stock market will retreat back into negative territory. We could possibly see Dow 6,000 before all is said and done !
- You will see Gold escalate to $1600.00 or higher an ounce !
- You will see the further devaluation of the U.S. Dollar against other foreign currencies !
- You will see a temporary stabilization of the housing market, and then we will return to the downward trend in home valuations and the foreclosure arena !
- You will see more banks fail and more bank mergers, until we end up with 1 or 2 banking institutions. Note: this may take an additional year or two !
- You will see your state and local taxes escalate, because federal funding will be greatly reduced or cut off entirely, not to mention business revenue paid to the states will greatly be impacted because they will be going out of business in alarming numbers !
- You will experience inflation on the rise in every aspect of our economy !
These are just a few of what I see happening in 2009, I hope they don’t happen, but 90% of my predictions last year have unfortunately have come true…
In my next blog post I will give you some ideas on how you can profit from the continuing decline in our economy.