Grading My 2010 Predictions
Stay tuned for my 2011 predictions...
Manny Mota...Mota...Mota (OK, not a helpful title...this blog is mostly about Economics, the Markets, Politics...and during the football season also about the New York Giants)
- Pelosi Leaves Congress: She can't stand life as second fiddle after tasting raw, unrestrained power. She leaves. (Here's my long shot prediction for extra credit: Pelosi primaries Obama for the presidential election in 2012 claiming he has sold out the progressive movement.)Plucked today from DR:
Alexandra Pelosi, daughter of House Minority Leader and former Speaker Nancy Pelosi, told Big Government this week that her mother wants to leave Congress–and that she remains in Washington only at the behest of her campaign donors.UPDATE:
- Minor world leader is assasinated (three likelies: Assad, Calderon, Mubarak)and this is what I said when it didn't come true:
A few of my other predictions will likely prove true (California going bankrupt and the assasination one are still pretty solid) but, alas, didn't come to pass in the Year of Our Lord Two Thousand and Ten.So, in the Year of Our Lord Two Thousand and Eleven we saw Qaddafi get whacked, Mubarak narrowly avoid a whacking, and Assad is on the brink. Not a bad call way back when...
"The implications of this are that it is a near certainty that current consensus predictions of global warming and the damage it will cause will be proved wrong. The current forecasts of what temperatures and climate conditions will be 50 years hence may be too pessimistic or even too optimistic, but they are all but certain to be wrong."
- Romney/Tea Party, A Marriage Made in...Well, Just Made: Mitt Romney (who is FINE btw) chooses a VP nominee that solidifies his support with true conservatives just enough to complete his primary electoral strategy of 1) be the "non-scary" Republican that independents and moderate Dems can feel comfortable voting for and 2) be good enough for conservatives and libertarians to turn out like they need to turn out to defeat the constitutional democracy/individual liberty disaster that is Barack Obama. Likely choices are Chris Christie, Bob McDonnell, Jim DeMint, or Paul Ryan. I say it's Romney/Ryan because we need this one badly and Ryan adds tremendously to the ticket (Republican poo-bahs move Heaven and Earth to get Ryan to sign up).UPDATE: BTW, the Greatest Prediction Ever is STILL the Great Prediction Ever!
- 2012 Election is Close Until Sep-Oct When Obama Blows It ala McCain in 2008: Obama's political skills are awesome, but his political instincts are terrible. He will do quite egregious things to please his base (wow! as if on cue). He will run neck and neck with Romney/Ryan until he blows it with a policy gaffe that conspicuously reminds voters what an amateur and/or liberal fascist he is. The gaffe could even be a Clintonite engineered self-destruction conspiracy. (Wow! I could be early on this one!)
For five years, the British economy has persistently failed to behave as predicted by theory—and continues to do so with increasing evidence it is growing faster than almost any other major Western economy.Some choices tidbits:
Yet this growth spurt has taken economists almost entirely by surprise. It is hard to identify a single leading forecaster predicting such a strong recovery at the start of the year, or even at the end of the first quarter.
As recently as July, the International Monetary Fund was so gloomy about the U.K. that it was advising the government to loosen its deficit-reduction strategy. This month, it raised its 2013 growth forecast by half, to 1.4%.Gee, globalist government econo-bureaucrats were advocating more unaffordable government spending? No kidding.
The answer to the first question is becoming clear: More policy makers and economists now accept that the most plausible explanation for the U.K.'s postcrisis underperformance and its recent outperformance lies in the workings of the financial system—something that barely features in standard macroeconomic models.Gee, f**k with the banking system and things go awry. Where have I heard that before?
Previous attempts to blame the U.K.'s weak performance on the government's fiscal policies have been undermined by the recovery and by the fact that U.K. austerity hasn't actually been very austere.+1 for DB.
While economists argued over Keynesian demand-side remedies, the main problem was one of supply—specifically the supply of finance.Stuck on demand-side thinking. I think that was even the title of one of my posts!
"...compared to Egypt, which imports half its caloric intake and is running out of foreign exchange."You won't be seeing any "Miss Me Yet" t-shirts with Hosni Mubarak's mug on them for sale at the souvenir shops in Cairo, but what you could see is a yearning for leadership, any leadership, who can alleviate suffering by hook or by crook. History teaches that the likely results are not auspicious. Conversely this is an opening for the US. Call me Machiavellian, but much hunger could be alleviated with food-aid from the US if moderate, sensible, not radical Islamist governance carries the day, hint hint if you know what I mean.
- 2012 Election is Close Until Sep-Oct When Obama Blows It ala McCain in 2008: Obama's political skills are awesome, but his political instincts are terrible. He will do quite egregious things to please his base (wow! as if on cue). He will run neck and neck with Romney/Ryan until he blows it with a policy gaffe that conspicuously reminds voters what an amateur and/or liberal fascist he is. The gaffe could even be a Clintonite engineered self-destruction conspiracy.Forget about the details of timing and the Republican ticket in that statement and focus on the bolded words. Egregious things...reveal that he is a liberal fascist. Hmmm. Can we say "contraception mandate"? Could it be that I got it exactly macro right, if not exactly micro right?
Maria Mendes is returning to the land of her birth four decades after she fled war and revolution.
Hers is no sentimental homecoming, however. Cold economic reality is forcing her and tens of thousands of other Portuguese to seek a new life in Angola
"You can't get by on a pension here," says the 60-year-old retired teacher as she stands in a line for visas that stretches outside the Angolan consulate in Lisbon.
"Salaries there are at least three times higher,” she adds. “That makes it worth all the difficulties.
Mendes, whose husband is already in Angola, has accepted a university teaching job there.She was among more than 500,000 Portuguese who joined an exodus from Portugal's African colonies when they gained independence in 1975 after 14 years of anti-colonial war.But with their economy in the grip of the euro zone's debt-driven recession, many are now flocking to seek new opportunities in a Portuguese-speaking country whose economy is enjoying a spectacular oil-fueled recovery after a 30-year civil war.
Granted, all this could change drastically in two years, so stay tuned...
UPDATE: What did I say just a few lines up about Republican-sympathizing Libertarians? Steve "Vodkapundit" Green is kind of a bellweather for libertarianism and he says (I'm paraphrasing) "No flights of fancy this time around folks, vote for the most electable Republican. That Libertarian Party candidate can wait for less crucial times."