A Bleak Look at the New Year

By Alan Stewart Carl | Related entries in Economy, The World

New Years is usually a time for optimism. But here at Donklephant, we’re committed to discussing both sides of everything. So, for all you pessimists out there, here’s a list for you. It’s Saxo Bank’s outrageous predictions for the coming year. I’ve added my own commentary to spice things up.

1) An Iranian revolution. Because that worked out so well for us the last time.

2) Oil hits $25 barrel. Good for SUV manufacturers, not so great for the world economy. Or that proposed windfall tax.

3) S&P drops to 500. No worries. Retirement is for the indolent.

4) Italy drops Euro. Rest of world hurts brain calculating the Lira again.

5) Australian dollar crashes. But boomerangs and Fosters will be cheaper.

6) Euro will be unstable against U.S. dollar. So? Not like any of us can afford international travel.

7) Chinese GDP growth at 0%. That’ll show them to tie their economy to American greed.

8) Eastern European currencies fail. So it’s not a good time to stock up on Belarusian rubles?

9) Commodities prices plunge. So, really, a mattress with a nice hole in it may be the best investment next year.

10) Chinese Yen becomes currency peg in Asia. Yeah, well, we still have South America.

This entry was posted on Tuesday, December 30th, 2008 and is filed under Economy, The World. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “A Bleak Look at the New Year”

  1. Duncan Says:

    What do you mean the Australian Dollar crashes? hasn’t going from 97c to at one stage 60c on the cross rates a crash enough? It costs me every day :-)

    I think you’re wrong, but I do see it going lower: our rates are still significantly higher that the US, so there’s room for them to go lower, and we’re still over exposed to China.

    As for Fosters, you should know that the Fosters you drink is made in the United States, so it won’t go lower (we don’t drink Fosters BTW ;-) ) Australian wine will become cheaper for you though.

  2. anon Says:

    “Chinese GDP growth at 0%” Ok, this is ridiculous. My prediction: Web ad revenue continues to dry up hastening the death of shoddy blogs that spew hyperbolic uninformed nonsense.

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