Tuesday, March 03, 2009

self-fulfilling prophecy and the idiocy of crowds




As the global financial crisis rages on, the phenomenon I call "idiocy of crowds" is on track towards a self-fulfilling prediction of an economic catastrophe of global scale and astronomical proportion.

Since I have so much faith on the predictability of the "idiocy of crowds", I will now make a prediction on how the global markets will look like one year from now (or March 2010):

The Dow Jones is at 4,500-5,000 range and the S&P500 is at 400-500 range.

Unemployment in the US is at more than 15%.

China is on recession (2 quarters of negative growth).

Japan is on depression.

The European Union is on depression.

Oil is now at less than $20 per barrel.

The G7 countries are now in deflation.

And now I will sit back and relax, and watch how the crowds will prove me right. If I happen to turn out right, I hope the CEOs who are reading this now, and are still CEOs in March 2010, will remember to offer me a lucrative job in long-term financial planning. Standard security notice fine print below.



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Random thoughts on politics, social issues, money, finance, sex, humor, stupidity, or just about anything, of a hatemonger, an obsessive-compulsive, and a schizophrenic forced to live in a cramped and humid apartment.