2008 Predictions

Reader Chris somehow found my January 1, 2008 post. Unlike some people who are paid a lot money to talk about their guesses, I make no effort to hide my bad calls. Here is how the post appeared:

Some of these predictions may even occur! Please add your own.

1. Come November, it will be John Edwards and Barack Obama vs John McCain and Rudy Giuliani.
2. The Euro and Pound dive as the ECB and B of E drop interest rates in order to repair the damage caused by the collapse of the massive European real estate bubble.
3. A major Las Vegas casino signs a multi-year nine-figure contract with Led Zeppelin to perform 4 nights per week.
4. Casey Serin will serve as a witness for the prosecution against a major Sacramento-based mortgage fraud ring. Casey himself will never be prosecuted.
5. Oil will end the year below $50/barrel.
6. US financial markets will be down 20% by the end of 2008. Despite this, US markets will still outperform almost every international market.
7. Unemployment approaches 6.5%.
8. The start of the 2008 recession will be pegged to October 2007.
9. An actor from ABC's Lost will be arrested by the Honolulu PD for suspicion of driving under the influence.
10. The Beijing Olympics will cause China a great deal of embarrassment as athletes complain that they cannot effectively compete with such high levels of air pollution.
11. Median selling prices for houses, including condos and single-family homes, will decline 10% nationwide in 2008, 20% or more in California, Florida, Arizona and Nevada. Lawrence Yun will resign his position to "spend more time with my family." Richard F. “Dick” Gaylord will resign his position for someone with a name that doesn't cause some people to chortle.
12. Britney Spears, Paris Hilton and Lindsay Lohan will continue to be in the news. Most Americans will continue to wonder why.
13. Cerberus Capital Management will pull the plug on Chrysler, shutting down the company and selling off assets. A large Japanese corporation will purchase the Jeep brand.
14. The decline of the printed newspaper will continue. Meanwhile, online ad revenue will surge. A coalition of large US newspapers will attempt to fight back against craigslist by forming their own national online free classifieds. It will be monetized by selling additional services such as premium placement and graphics.
15. The redesigned iPod Nano will prove to be a major disappointment for Apple and its shareholders once the Q4 2007 results are announced.
16. California Democrats will attempt a recall drive against Governor Schwarzenegger. The attempt will fail. Californians will face a steep rise in taxes.
17. After 2 years of firing local talent and relying solely on national shows in order to save money, Clear Channel will sell many of its radio stations to prop up their balance sheet.