Housing data the coming months will be horrific. Tax increases around the corner. Government debt at all levels (city, state, Fed) bursting at the seams, and many other reasons... yes, easily IMO. We should see a rebound after Nov elections.
Very hard to predict the sequence of world events that will shape economic predictions in the short term. But longer terms there are some certainties you can take to the bank.
1980 1 ounce gold = Dow 2000 1 ounce gold = 1/31 of Dow March 09 1 oz gold = 1/8 Dow Today 1 oz gold = 1/8.5 Dow
Future : 2-6 yrs: 1 oz gold = 1/2 Dow or more.
So, for the naive investor who believes Dow has gone up since March 09, i have news. It has not. Dollar has gone down, so it APPEARS that Dow has gone up. Learn from that, and you will understand what dollar devaluation will do to you in the future.
Besides we have only started to feel the affects of the biggest bubble crash ever.
The debt bubble, is ready to pop...
All Progressive/Liberal/Socialist leaders, whose only solution to any problem, is to spend money they don't have, will only make the problem worse.
I don't know if Western civilization can survive it or not. It all depends if leadership steps up, to make the tough decisions AND the people stop acting like children (Greece anyone) and realize it's time to pay the piper.
China and the Middle East may be the new super powers soon.