Everybody's hauling out their 2008 predictions right now. Most of them are a bit, um, bleak. Most of them are also a tad vague.
I thought I'd inject a tiny bit of fun by making some relatively specific predictions. Let's check back in a year so we can all have a good laugh at my expense (I hope).
Off we go then...
- The US average for a gallon of gasoline will top $3.50 at some point - OR - there will be spot shortages somewhere in the US.
- The Dow Jones Industriral Average will drop below 11,000
- Michael Bloomberg will enter the presidential race as an independent, and he will make a better showing that Ross Perot.
- The US banking industry will consolidate further, with at least one mega-merger (e.g. Chase + Citi)
- Credit card defaults will experience a double-digit increase
- Gardening (the edible kind, not the aesthetic kind) will continue it's huge resurgence
- "Peak Oil" will become a household word. Er, phrase
- Peak oil will become politicized almost immediately thereafter, a la global warming. Daniel Yergin may even get a government appointment out of it, depending on who's elected.
- Vague prediction special: Some huge event will happen sometime this year that will keep us glued to our news sources for days