As the curtain falls on another year, the spotlight shines on the beginning of the Prediction Season. Self-proclaimed experts forecast the outlook for the stock market, economy and which Hollywood stars are headed for divorce court. Most prognosis are bunk. But this one is the genuine article.
How can you be certain? Your journalist ditched his ancient crystal ball this year and decided to consult the Chinese Zodiac sign. This is the year of...wait for it...The Pig. The animal, according to the horoscope, represents honesty, trust and bravery. That bodes well for the New Year.
But there also is a dark side to The Pig. The animal also has characteristics of self-indulgence, naivete, stubbornness and laziness. Ah, forget all those attributes. All you need to remember is that the animal ends up as bacon on your plate. Hmmmm. Bacon! Now there's a reason for optimism.
The piggish forecast for 2019 is not as slovenly as the pessimists among you expect:
1. Despite gloomy forecasts from the likes of Goldman Sachs and other money firms, strong consumer spending spurs an annual gain of 2.9 percent in the Gross Domestic Product (GDP), after posting two quarters of 3+ percent growth early in 2019, outperforming most world economies.
2. With its stock market sinking and its economic growth underperforming expectations, China signs a trade deal with the United States but before the ink is dry the CIA reveals the Asian country has launched a cyber intrusion on our government that approaches a Category 1 attack.
3. Federal Reserve interest rate hikes in the new year continue to be an anchor on the U.S. stock markets as the Dow enters bear territory, igniting a very public feud between President Trump and Fed chairman Jerome Powell. The tension ends in Powell's resignation, calming markets.
4. Special counsel Robert Mueller, appointed in March 2017, finally issues his report on Russian interference in the 2016 election after the new Congress is sworn in. His report is littered with innuendoes about Trump campaign conduct but offers no proof of collusion with Russia.
5. The Democratic Party-controlled House launches a series of investigations aimed at President Trump and his campaign associates, using the Mueller report as its excuse for additional probes. At the urging of Speaker Pelosi, the House takes up articles of impeachment against the president.
6. With a March deadline approaching, a disheartened Prime Minister Theresa May calls for a public referendum on the Brexit deal she negotiated with the European Union after failing to get approval from Parliament. Voters reject the exit settlement, leaving the plan to leave the EU in limbo.
7. Electric car manufacturer Tesla fails to fulfill its commitment to produce 500,000 cars, sending the firm's stock in a nosedive and forcing CEO Elon Musk to give up the company reigns to an executive with auto experience to quiet the financial crisis.
8. Despite most political pundits debunking her chances, Hillary Clinton announces she will run for the presidency igniting a wild scramble among Democrats to come up with a more electable candidate. Former San Antonio Mayor Julian Castro throws his hat in the ring, becoming the favorite.
9. Justice Ruth Bader Ginsburg, who recently underwent cancer surgery, attempts to hang on to her seat on the High Court despite failing health before succumbing to the disease. President Trump nominates former Notre Dame law professor Amy Barrett as her replacement.
10. As the cost of health care and insurance continue to climb, industry giants Goggle, Amazon and Apple jump start more research and development on the use of virtual intelligence for applications in drug development, health diagnosis and personal health care, gaining a new revenue wellspring.
I can hear what your are thinking. These predictions are pig-headed, the figment of a bacon-lover's imagination. You could be right. But the good news is that when 2019 ends, you won't remember these forecasts. So go ahead. Have a wiggly piggly New Year!
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