Monday, December 31, 2012
Ring in the new year
Here were my predictions for 2012, given a year ago today, with the actuals in brackets:
Dow $13000 (actual $13104)
S and P $1400 (actual $1425)
NASDAQ $3000 (actual $3020)
Unemployment 7.5% (Nov. 2012 7.7%)
President Obama will be embarrassed by the OWS demonstrations at the convention, but he will be re-elected. (he was re-elected and OWS was but a memory)
Congress The House will remain in Republican hands, the Senate in Democratic hands. (turned out to be true)
China There will be a Chinese spring with widespread protests and rioting. (didn't happen, at least not on a large scale)
Middle East will stabilize but no major changes except the Muslim Brotherhood will take power in Egypt. (happened)
Europe will offer travel bargains for Americans. (air fares remained high)
So overall, not to brag, but my predictions were pretty good. Not bad at all. Now let us take a look at January 1, 2014.
S and P ($1500)
NASDAQ ($3300 and a comeback for Microsoft)
Fiscal Cliff Will be solved before the Inauguration. Taxes and milk prices will go up for everybody.
Middle East Gunfire but no war.
Philadelphia Eagles New head coach, new quarterback, no playoffs.
Life in General Higher interest rates, higher prices, life will be the same muddle but there will be some decent movies released this year. The hip people will leave Brooklyn, get married and move back to the Suburbs.