Diary

what to look forward to in 2012

Okay, this is a list of things that I believe will happen this year, after watching the news in detail.

 

1. Economic growth will remain anemic. For this year, the growth in GDP was less than 2 percent, the slowest since the Great Depression. I know Obama fans like to talk about how the unemployment rate dropped, but that was because people have simply given up looking for work.

2. The unemployment will remain high. Obama stated during his rise to the presidency that unemployment would not go above 8 percent if the stimulus bill was passed. Stating it wouldn’t go below that number would have been a lot more accurate. The CBO had stated that it will remain above 8 percent throughout 2012, which even the White House is now admitting. There’s a good chance it may even go back up to 9 percent. If we were using the same numbers for the Labor Force that we used in 2008, unemployment would be 11.5%

3. The national debt will reach 16 trillion. With the way he’s spending, Obama’s request for a 1.2 trillion increase to the debt ceiling may not even last him until the election, meaning that he’s going to have to go through it again at the worst possible time for him.

4. The full details of the Fast and Furious operation will be revealed. Holder is resorting to charges of racism, telling us that he’s getting desperate. Considering the new e-mails that we found with ATF agents discussing: “How can we use this to push gun control?” it’s something that Obama’s opponent will be able to hang around his neck.

Not only that, but now Joe Lieberman talking about starting his own independent investigation in the Senate, it’s going to be far harder for them to claim that this is a political witch hunt.

5. We will see an official Greek default. As bad off as we are, Europe is in far worse trouble. Greece will not be able to hang on much longer,  and have a deficit of 15% of GDP, which is an almost unbelievable figure. Once they default, it’s anyone’s guess what will happen then.

6. Italy and Spain will require bailouts as well. The IMF is already talking about taking action to keep the two countries afloat.

7. Further credit downgrades for the United States. All three agencies have a negative outlook on our bond rating, and since it doesn’t seem likely that we’ll get our budget under control, they will decide that we don’t deserve the rating we have.They’ve warned that if we don’t do something, we could be downgraded by 2013; personally, I think it’ll be a bit sooner than that.

8. This election will be the most brutal, ugly campaign in the history of the United States. 2004 and 2008 were bad enough, but that’s trivial compared to what we’ll see this time around. We’ve already seen ads like Paul Ryan throwing grandma off a cliff. Obama’s got nothing else to run on; his record is abysmal. Therefore, negative campaigning and class warfare is the only thing he still has. He doesn’t care what he has to go to get reelected; anything goes. Expect half-truths, omissions, and bald-faced lies.

9. Obama will probably drop Joe Biden and replace him with Hilary Clinton, because Biden has got to be the stupidest person in politics, which is really saying something. He makes gaffes on a daily basis, makes up facts on the spot, and was chosen because he wouldn’t outshine Obama. Now that he’s a liability, he’s gone. I’m sure they’ll come up with an excuse, saying that he’s retiring after decades of service, but that’s a load of bull.

And here is what I think may happen in 2012:

1. A double-dip recession. Considering our shaky economy, and what’s happening in the rest of the world, it’s a good possibility that our economy will sink again. Europe is collapsing under its own weight and that’s going to have an effect on us.

2. For all the talk of China’s economy surpassing us in 10 years, that’s not going to happen. Their problems are many, and their economy is falling apart as well; their growth is already starting to slow down. As 2012 goes on, this will become more and more apparent. The country’s much less stable than it appears at first glance.

3. There’s also the possibility of a trade war looming between the world’s major economies. Not only is a bill in Congress being discussed to “punish” China, Europe is already requiring outside airlines to pay a carbon tax, intending to put this into law by 2014.