Bold Predictions For 2013

Predicting the future is as hazardous as scaling Mount Everest in a pair of loafers and a thong swimsuit.  Any sane person wouldn't attempt it.  However, every year investment gurus, economic thinkers, global academics and others try their hands at forecasting.

Most predictions turn out to be wrong.  A 2005 study at the University of California at Berkley confirmed it.  Researchers surveyed 82,000 predictions over 25 years by 300 leading economists and found their conjectures were no more accurate than random guesses.

But that knowledge won't stop your scribe from shimming into the New Year with some prophecies for 2013.  Be prepared for more speed bumps than green lights in the year ahead.

1.  The U.S. economy will record a second consecutive year of tepid growth.  The Gross Domestic Product (GDP), a key measurement of the economy's output, will inch above two percent, but fail to reach three percent, the level needed to sustain healthy growth.

2.  Obamacare will stumble from the starting gate.  Lawmakers, including Democrats, will vote to delay its implementation as sparring over insurance exchanges in the states exposes the many flaws inherent in the bloated legislation.

3.  The U.S. Supreme Court will fail to deliver a a definitive answer on same sex marriage in its rulings on two cases.  Chief Justice John Roberts will again disappoint conservatives as the court punts the question back to the states and further muddles the issue.

4.  California goes the way of Greece.  The once golden state will plunge deeper into debt as the Democratic controlled legislature refuses to cut spending and trim state employee benefits.  The governor will seek federal loan guarantees to prop up the state's sinking finances.    

5. The European Union will show fissures as France balks at support for tighter budget controls.  The Eurozone economy will contract for a second straight year, plunging more countries into debt spirals that force EU bailouts and feed German anxiety about serving as Europe's paymaster.

6.  Unemployment stubbornly stays above 7 percent, despite the federal bureaucracy's efforts to jigger the measurement.  The number of Americans in the workforce continues to decline as more people become discouraged and stop looking for employment.

7.  A major data breech involving millions of consumers proves to be a tipping point, fueling calls for a national crime force dedicated to tracking down and prosecuting hackers.  The nascent bureaucracy will reside within the FBI.

8.  Vice President Joe Biden's gun control commission issues a wad of tangled recommendations.  Most are doomed to defeat, but Congress approves an assault weapons ban, which will have as little impact as the last one passed in 1994.

9. Despite talk of budget cuts, the federal government ends 2013 by adding another $1 trillion to the nation's debt.  Obama and Democrats renew efforts to raise taxes on high earners and call for a wealth tax on the assets of the top two percent.

10.  The housing industry finally shows signs of a pulse.  Growth in home equity, sparked by rising prices, convinces more homeowners to get back in the market.  Sales tick up to 5 million, a level not seen since 2008.

For doubters, please feel free to print and save this list.   Just remember, the author makes no claims as to the accuracy of these predictions.  But just in case a few prognostications turn out to come true, patent papers have been filed on the crystal ball used to divine the future.