Arrogance and Hubris are Required to Predict the Future, but Who Can Resist the Temptation?

 
 1. GM and Chrysler bankrupt by April 2009
 2. Madoff-like investment (including big bank) scams reach $1 trillion
 3. $2 trillion more mortgage losses yet to be recognized by banks for a minimum total of $3.6 trillion in losses
 4. Credit card debt approaches $2 trillion in losses
 5. 1,500 (~20%) of banks fail including big-fish Citi Group and Bank of America; 8,000 banks/1,500 = 19%
 6. Banking system nationalized
 7. 220,000 retail store closings in 2009
 8. Commercial real estate values decrease by 50% for a $1.5 trillion loss
 9. Dow bottom is 4,500 and the S&P 500 bottom is 500
10. New home mortgage rates go to 3% with a $25,000 tax credit while homes are refinanced at 3.75%
11. Housing values decline an additional 15-25% from Nov 2008
12. State and local government deficits grow to $300 billion
13. BLS unemployment hits 13% while Shadowstats unofficial unemployment reaches 25%
14. US becomes involved in a ground war somewhere to stimulate economy and jobs and deal with crisis in mid-east
15. GDP shrinks 6-8% in 2009
16. Strong inflation (20%) by end of 2009
17. Like Nixon, Obama implements wage and price controls and reduces highway speed to 55mph for fossil fuel vehicles; no speed restrictions on all-electric vehicles
18. US Dollar declines against Yen, Euro, Pound and Yuan by 50% by end of 2009 - Talk of evil speculators.
19. Federal deficit reaches $2 trillion by end of 2009
20. Bailout (government assistance programs) grow from $8 to $15 trillion
21. Foreclosed homes abandoned by banks; taken over by squatters; bulldozed by local government
22. US future debt liability grows from $50 to $60 trillion by end of 2009
23. Due to prohibitive cost, the penny (copper & zinc), nickel (75% copper & 25% nickel), and dime coins are dropped from circulation
24. China demands pay back of US treasuries or enters into a trade war
25. US treasuries become almost worthless and bond market collapses
26. Government and private pension plans cannot meet obligations by a minimum of $2 trillion
27. State and local government raise taxes - Federal "carbon" tax used to raise revenue
28. Nationalization of medical insurance premiums and more price controls
29. Extensive waste and fraud revealed in $700 billion Stimulus Bill funding
30. Government implements Marshal Law in parts of the country to deal with civil unrest
31. Americas will struggle with the economic upheaval through 2012 before settling into a 5-10 year depression