A few outrageous predictions for 2010
Among other things, the price of gold is about to drop off the map, says Denmark’s Saxo Bank.
The Copenhagen-based online bank’s 10 economic predictions for 2010 form an annual what-if exercise that purports to predict rare but high impact 'black swan' events beyond the realm of normal market expectations.
Previous predictions have included Ron Paul being elected US president and crude oil prices crashing to $25 per barrel … and you know how those babies worked out.
High on its list for 2010 is the fact that the US Social Security Trust Fund will go bust.
The Copenhagen-based online bank’s 10 economic predictions for 2010 form an annual what-if exercise that purports to predict rare but high impact 'black swan' events beyond the realm of normal market expectations.
Previous predictions have included Ron Paul being elected US president and crude oil prices crashing to $25 per barrel … and you know how those babies worked out.
High on its list for 2010 is the fact that the US Social Security Trust Fund will go bust.
This is not so much an outrageous claim as an actuarial and mathematical certainty, says Saxo. Next year will be the first time that outlays and part of the social security payments will have to be funded by high taxes, more borrowing or printing money.
Of greater interest to Canadians perhaps is the bank’s prediction that small cap stocks here will rise by another 50 per cent. Positive GDP figures in 2010 could very well ensure that the S&P/TSX Small Cap index provides a surprise to the upside, Saxo says.
Of course, I thought the whole point of black swan events was that nobody one saw them coming in the first place.
But why quibble?
Do you believe that anything on this list will come to pass?
By Gordon Powers, MSN Money
Share:
Posted by: Anton Oostie | Dec 22, 2021 1:53:46 PM
I would put this in the same category as what was said in the beginning of this year: don't buy Citybank or Bank of America for you will loose your shirt. Also the recent claims by some technical stock that we will be back to the same lows in march of this year. Cum grano salis ?
Anton
Posted by: SP | Dec 22, 2021 3:02:42 PM
Don't worry about SS. The US Baby-boomers have been spending the past 30 years becoming so obese and ill that the likelihood of many making long term SS claims is very slim. On the bright side the XXXL sized coffin sales should be fantastic !
Posted by: Chinook Man | Dec 23, 2021 11:07:31 AM
All forecasts are pointing at a bleak/oblique future for the US SS and healthcare programs... if the government does not take radical steps to stop corporate (unstoppable) raiding or bleeding of the public treasury coffer.
Perhap's Americans should start by holding public bonfires to rid all VHS cassettes and DVDs of that infamous 1980's "Wall Street" movie starring Michael Douglas... you know that movie where Michael Douglas won an Oscar for espousing "Greed is good" and even necessary for corporate America... well... corporate America, and all the MBA programs must have taken that statement to heart... and look what happened! So... let's start there and burn every copy of that heinous movie!
Posted by: nottobrite | Dec 28, 2021 12:26:34 AM
I say just keep printing money . When that dosen't work anymore then our wise leaders can claim bankrupcy . Then we can all head for the moon and f--k that place up too .
Posted by: mel | Dec 28, 2021 2:04:45 PM
you people are all cooked-you should be glad to to be a live and each day if it were your last.start appreciating what you have.its all about attitude so start with yourself first.have a great day and have a better tomorrow
cheers
Posted by: Jacob | Dec 28, 2021 6:44:56 PM
Predictions, predictions, call the weather man, they will inform everyone on the validity of predictions.
Posted by: blazed one | Dec 28, 2021 7:38:58 PM
what about some predictions for 2012??
Posted by: Rayhibbett.financeandinvestmet5yearplan | Jan 19, 2022 7:35:56 PM
Its all up to mr obama with out government it wont work ive done the hard part he just has to listen and say yes then all the people that have been involved to date get ready to take on the bigest move in investment history the final part of the plan the one that makes it all complete .
Posted by: Rayhibbett.financeandinvestmet5yearplan | Jan 19, 2022 7:40:27 PM
Its all up to mr obama with out government it wont work ive done the hard part he just has to listen and say yes then all the people that have been involved to date get ready to take on the bigest move in investment history the final part of the plan the one that makes it all complete .
Posted by: Rayhibbett.financeandinvestmet5yearplan | Jan 19, 2022 7:58:49 PM
Its all up to mr obama with out government it wont work ive done the hard part he just has to listen and say yes then all the people that have been involved to date get ready to take on the bigest move in investment history the final part of the plan the one that makes it all complete .